← Autodidact Archive · Original Dissent · JoseyWales
Thread ID: 18673 | Posts: 7 | Started: 2005-06-15
2005-06-15 16:50 | User Profile
Pullback still in effect, but there is alot of whiplash going on, making any definate direction hard to detect. I suspect that as summer nears the end, nasdaq will be higher, unless something "bad" happens.
My gut feeling is that this is the last few weeks are just a pause before another run upwards. The charts arent real clear yet, and it could go either way at this point, so if your long OR short then keep your stop losses tight.
2005-06-15 17:50 | User Profile
Do you watch MSNBC at all?
I find the SEC's and FCC's lack of enforcement regarding MSNBC broadcasts over the years of pump and dumpers, most recently like James Cramer and Michael Parness (the nerd that runs ads for the "Trendfund"), troubling.
Here is some of Cramers notable picks...
"Don't buy Martha Stewart at 9, it may go to 5." It rose to over 30. "Buy Google at 300, it will run to 350." It is now 270.
I just checked Google insider sellers on Yahoo, and although it doesn't necessarily mean that the sellers have no confidence in the price level of the stock, the president, one Sergy Brin, has sold hundreds of millions of dollars worth of Google recently.
2005-06-15 21:43 | User Profile
MSNBC sometimes, CNBC probably 3 times/week, but not for "specific" news or recomendations. I just watch CNBC for general news and mere mention of specific stocks, then i will look at their charts and/or watch them for a while. I rarely trade small cap stocks anymore, rather sticking to the high volume leaders on which the options volume is more significant.
Yes, cramer is a clown. Listen at your own risk ;)
2005-06-16 17:24 | User Profile
judging by todays action on nasdaq, its looking like the uptrend is back on. charts are pointing up. MACD slope is good.
2005-06-17 16:20 | User Profile
Just for fun, I put in a limit order at 269 for a very small amount of GOOG today. It is very unlikely to drop to that level, but I am not going to chase it.
2005-06-20 23:14 | User Profile
Google closed at over 286 today; it never came close to 269 on the 17th. :mad:
2005-06-20 23:32 | User Profile
[QUOTE=Snouter]Google closed at over 286 today; it never came close to 269 on the 17th. :mad:[/QUOTE]
No, but it did on the 15th :)
Like i said earlier, my gut feeling that is that we are headed higher in general, at least in the short term. However, there are still the ugly fundamentals all over the place that could deflate things in a hurry. Take your pick, whether a housing buble going pop, terrorist activity or oil price surging or some combination of all three.