Is NQ a fraud? I couldn't say one way or another. Fundamentals are subject to smoke and mirrors and in my opinion are near worthless. I've always relied on the collective wisdom of the markets to point the way. To me price action is what really matters and when I look at NQ's chart I'm currently seeing improving technicals. Here's my take...
Prices have regained and held the 200 day ema which currently sits at $13.42. In fact only the 50 day ema remains above current prices at $15.73. Prices have been coiling for the last month as bollinger bands contract and turn horizontal. Prices are holding in the upper half of the band spread (positive) with the last several days printing a series of contracted doji candles. Price contraction along with a series of dojis is an indication to prepare for a price expansion with the question being, yes but in which direction? As long as prices remain in the upper band spread and above it's moving averages it's positive with chances of a move higher. However should prices fall below the band center line at the 20 day ma it would be bearish indicating down is the most likely direction. I know, all I've said is maybe up or maybe down. The point is, it's currently impossible to determine direction based on fundamentals because who knows what they really consist of. All there is at this point is price action so it's prudent to allow prices to guide any idea of trading this stock. Currently there are positive signs but not yet enough to consider a trade. This stock has endured a lot of technical damage that only time can correct. Be cautious and use stops to control risk. At this time this stock can be your best friend or your worst nightmare without a whole lot in between.
Your shares don't mean squat. You act as if you have some power but you're just fleas on a dog who's about to get a flea bath. Filing complaints with the SEC and voting no for the sale might make you feel as though your doing something to stop this sale but it won't help. The SEC loves seeing american investors get the shaft from chinese companies. Why do you think Cramer won't ever talk about a chinese company and always directs callers to a US stock instead. Wallstreet hates chinese stocks. They feel they're taking money out of their pockets. Wallstreet doesn't feel for you. They consider you traitors.
Your precious millionaire maker stock is about to be stolen right out from under you and there's nothing you can do about it. All of those long term investors who said the fundamentals would eventually win out are about to be taught a valuable lesson. You were used when needed and discarded when no longer needed. In other words you are bagholders. And if there's one thing I've learned over the years it's that bagholders never learn.
Money, now you understand why I always use stops no matter how enticing the story. The worst risk is the one you don't see coming. Good luck
Are you STILL holding this loser stock. You really are dumbatforty. I noticed you was posting all my losing calls but you failed to post my winning calls. And I've always advocated using stop lose orders and strict risk management rules. My winning trades far exceed my losing trades. My winners, just in the last few months have been, SLCA, OCN.ARMH, DANG, and I was up $6000 on NQ before I took a $7000 lose for a total lose of only $1000. I keep my loses small. I'm NOT a long term investor (bagholder), I take positions and cut my losers short. My winners take care of themselves. By the way I've added 23% to my account since the last time I posted here and if you remember it's compounded money, tax free until I draw it out. By the way, you mentioned I live in my mother's basement, my mother has been dead for 20 years and I'm 57 years old. I plan to trade full time after I retire in 2 more years. I've learned a little about trading the market over the last 20 years. Guys like you are entertainment for guys like me. Keep up the good work. By the way, you really are dumbatforty.
This has been a perfect example of why risk management is so important and the risks associated with long term investment strategies. Dollar averaging, buying on dips and so forth are fine as long as risk is mitigated through the use of strict risk controls such as stop loss orders. Even those who had bought in early and had big profits racked up are now looking at their gains fast moving towards potential loses. There's simply no reason to allow such huge risk taking. Even now some are buying here thinking of their great potential profits with little thought of the great potential risks. Amatures think about how much money they can make while the pros think about how much money they could lose. The pros live to trade another day while the amatures wash out and move on to less risky hobbies. Good luck to all.
Prices are testing the 20 day ma and the 50% retracement level at $21.85 and as of now is holding. Volume is strong today which is a good sign if we reverse up from here and a bad sign if we don't. You want to see volume lighten up on pull-backs. The last 4 days have been distribution days on fairly high volume although it has been declining daily. Yesterday we did 4.6 million shares. Today we're already at 4 million shares. Let's hope today proves to be a short selling climax. Next support is the 62% retracement level and the lower trend channel trendline around $20.85. Technically I'd like to see the 50% retracement hold right here. I bought back in at $20.06 with a stop loss order in place as usual.
The potential measuring gap has been filled invalidating it's implied price target. Good Luck guys.
I laid out what's in front of me on the chart. Prices are representation of all known factors. Prices are reflecting that sell-off which in turn create the technicals. I don't incorporate the technicals into the fact, the fact is the technicals.
So with the passing of what should have been very bullish news we find prices down. There's a saying in the market, "the news is not nearly as important as the market's reaction to the news". Personally I find NQ Live a great and innovative new product. It makes the possibilities endless. With that said the price action is much less enthusiastic. So as prices pull back should I blindly buy dips. Not from a risk management view. There's too many unknowns at work here. My personal perspective is price action warned of the current sell-off and price action will notify me when it's again time to buy. Once again the chart proves itself a most valuable tool. So I'll try to lay out what I'm seeing in the current chart.
On pull-backs you have to look at potential support levels and watch price action as it hits these levels for clues. Yesterday's price bar found support and bounced nicely off of the 9 day ema and the 38% retracement level. Buy the dippers had orders set at these levels expecting this to be a very short term sell-off. They were right at least for that day as prices closed at the 24% retracement level. Today's action quickly followed through to the downside and as of now is testing and holding the 9 day ema but still slightly above yesterday's low. Those who bought yesterday (buy the dippers) are still ahead on their shares but their gains have narrowed. If it were me I would be looking to sell those shares before a gain turns into a loss. So anything below todays current low should see some selling pressure. If we break below yesterday's low the next support is the 50% retracement level and the 20 day ma at $21.80. This would also close the possible measuring gap I spoke of in an earlier post. Gaps also provide support so with 3 potential supporting factors at this level I would expect a larger bounce and a POTENTIAL bottom. Again one must watch price action for signs of the bottoming process. These are my short term thoughts based on the chart.
Hilo, I sorry to poked fun at your statement about the machines. Please consider this....the Nasdaq has had a very nice run but is extended from it's moving averages making it over-bought. What you're seeing is profit taking followed by the buy the dippers. This is normal at what may be a short term top. Who knows, maybe the buy the dippers will be right and the Nasdaq just keeps going higher from here. That would be very bullish. Then again there may be more profit taking which might overcome the buying and the correction is born. It's a matter of who overcomes who right now. In other words it makes risk higher for those who want to be long the market. Traders like me don't like risk so we step back to see how it all works out. I sold and booked profits so I can just imagine other traders did the same. Does that make more sense than the machines are rigging the market?
You're right, it must have been Cyberdyne's skynet doing all of the selling. Look out is that a terminator behind you! You've got to love it.
This is normal price action. A market is moved by both buyers and sellers. The signs were there for all to see if only they choose to listen.
The markets have a way of trapping as many people as possible to shake money loose. Buy the rumor sell the fact is one way they do it. At some support level the selling will ease and buyers will return.
Today's news didn't generate the bullishness everyone was expecting causing some to scratch their heads wondering why. I got chewed out yesterday for mentioning prices are over-bought and that there was candlestick sell signals. When this happens the chances of a test of support (a pull-back) is high. So what happened today? We have pulled back to test the support level at $24.10 which is the previous cycle high. So far it appears to be holding however the over-bought condition still exists. prompting me to believe a deeper pull-back is yet to come. Support is at $24.10, $23.30 and then the possible measuring gap at $22. There's a rule about gaps saying most gaps get filled. The ones that don't have special meaning such as a measuring gap. This is my short term take on price action. What happens now is a matter between buyers and sellers. I lightened up to half a position so far today locking in some profit and leaving some risk on the table. If prices break through today's low I'll probably sell the rest and look to buy back in again when price action dictates. A profit in hand is worth two in the bush, or something like that. Good luck guys. Don't hate me for doing things different from most people.
Your right about the time frame thing. But let's be honest. What you really want is something to hang your hat on. I'm not a cheerleader and I'm not going to try to fill everyone with bullish enthusiasm. I did say the gap at $22 might be a measuring gap with a price target at $40. Now that is provided the gap doesn't get filled. That's about the most constructive thing I can give you. Today's price action isn't what everyone expected is it? So perhaps there's something to that candlestick sell signal everyone got so mad at me about. Isn't it funny how a guy tries to give people a heads up and they chew his head off for it?