Making guesses about what an index will do in the short term is foolhardy. However, because I really do not care about being right, and am truly more concerned about what is probable, I will undertake the foolhardy task.
As noted in the chart, I will be a buyer or will add to existing positions should the Nasdaq pull back to the area of 2650s. If it doesn't pull back, I will still be a buyer, but at much higher levels...yuk yuk. I am expecting some weakness in the short-term due to options expiration, summer doldrums, and digesting of recent gains.
Based on the chart, should the Nasdaq continue up from here, it seems it might go Shanghai. I find a pullback to be more probable this week.
Looks like I might be buying at higher levels :)
ReplyDeleteExcept for GIGM. Check out asyt for a short squeeze/break out.
ReplyDeleteM- bought more GIGM, for better or worse on the gap down.
ReplyDeleteThanks Wood, I have returned the favor.
ReplyDelete