Comments on: Nasdaq At Resistance, Pullback Likely

By: Mikeflegel

Mikeflegel — Thu, 27 Apr 2023 21:40:26 +0000

The bears got beat today. Randy if you change your mind in after hours please post. Thanks

By: G

Thu, 27 Apr 2023 20:57:41 +0000

In reply to malejandro1972. Am sorry. I know this is hard. Even the best traders (and I very often) have been here. Someone once told me trading markets is like being in relationship where your partner punches you in the face almost every day. Manage your risk and ensure you have capital to trade.. things will turn around.

By: malejandro1972

malejandro1972 — Thu, 27 Apr 2023 20:29:58 +0000

im in fukn dismay!

By: KevinK

KevinK — Thu, 27 Apr 2023 20:24:03 +0000

In reply to Jeff Vandenburgh.

Amazon was up 12%, now slowly coming down.
Intel went up 4% after earnings, now down 2%.
Pinterest down 8% after earnings.
Snap down over 20% after earnings.
Smells like a down day tomorrow.

By: G

Thu, 27 Apr 2023 20:04:23 +0000

In reply to G. AMZN up 10% post earnings!! NQ futures already at new highs!!

By: Jeff Vandenburgh

Jeff Vandenburgh — Thu, 27 Apr 2023 20:04:19 +0000

Another mega-cap earnings beat. And with weak GDP this morning and with inflation dying, it is safe to say the Fed pauses and stocks go much higher than anyone could have imagined.

By: G

Thu, 27 Apr 2023 20:00:44 +0000

I dont post much but have nothing new to say from my post a week and half back. Bears got themselves another face ripper. Congrats to the bulls who have stayed long. New highs coming before new lows (lows will come). Also, smart money has been buying AMZN into earnings. Expect a jump here too. In all, Randy and many other bears have been expecting the trading range to break decisively to the downside this week due to earnings, but if anything earnings have been a catalyst to the upside. Expectations were so low going into earnings, it would be hard not to beat them. I know the price action hurts if you're a bear. Specially those who have been short the NQ since mid March (when the first "great" shorting opportunity was called on this channel. I have been on that side way to often. But bear market moves dont take place when every talking head is predicting a crash.

By: rsotc

rsotc — Thu, 27 Apr 2023 19:47:48 +0000

In reply to Mikeflegel. By the close or after although holding a day trade sized position into AMZN earnings is risky. The sell signal has just been triggered on the break below the 5m uptrend line of /NQ so stops above slightly above today's high around 13255 & ideally closing the day trade out, win or lose, before the close to stand aside for AMZN earnings.

By: trade0039

trade0039 — Thu, 27 Apr 2023 19:44:43 +0000

In reply to KevinK. Lets hope for the best for the Bears now! Since we are late now all we can do is hope for the market to tank of Amazon's earnings...

By: KevinK

KevinK — Thu, 27 Apr 2023 19:38:11 +0000

In reply to trade0039.

You are soooooo right.
As I wrote in an earlier note….
AAII Sentiment Survey has Bulls at 24.14% and Bears at 38.51% as of today(4/27).
Not enough bulls, tooooooo many bears for a crash.