As shitty as the economy may be, the NASDAQ looks like a buy to me. Risks remain high, but the situation’s changed, volatility is dropping and stocks are the rage. Consider nibbling at your favorite stock, Amazon (AMZN) might be good for a pop. No one can say how long this will last, and it…
Price is the only thing that pays, but it’s not the only thing to watch. Although the NASDAQ was up more than 2.5% today, 3 of my indicators remain bearish. Chart 1: QQQQ (NASDAQ 100 ETF) is falling with volume not seen since Lehman’s went bust, yet it remains above the November lows. This feels…
I’ve been doing more tinkering with stockchart.com’s free P&F charts. I like Point and Figure over Candlesticks because price can be scaled to Average True Range, which helps expedient trend recognition. If you aren’t familiar with ATR, look it up and read something by Van Tharp. Aside from charting, Average True Range is a statistical…