Wednesday, July 16, 2008

NASDAQ bottom?

Bottom fianlly? Better to cover some shorts.


Anonymous said...

"Do not try to pick a bottom that is suicidal." Those are your words.

I do not think this is the bottom; there are too many negative factors that remain unsolved for the market to go up. Oil prices, credit crunch, housing, commodity prices (outside of oil).

I do think being prudent in these rough times is a wise decision. Good luck with your trades!


i did not suggest long, covering short seems reasonable right now.

Anonymous said...

yea, its time to cover shorts, but no hurry to go long yet.

Trade the direction of trend that even an idiot can identify.

To me, the wise thing to do is wait till the bottom to confirm itself b4 doing anything.

However, any rally is just a rebounce. The long term trend is now pointing down.