Wednesday, November 28, 2007

Stocks Rally (NASDAQ Update)



It was just yesterday I was talking about buying the NASDAQ, well I bought the Q's today with a protective stop below 48.50.

Yesterday I bought SOHU and was fortunate to see the stock rally almost 10% today.

Right now I am long some utility stocks which made their highest close in 5 months today, QQQQ, SOHU and I'm looking to buy a few gold stocks.

7 comments:

Tom's Trading Ticks said...

Kevin, what are you looking at with the Q's for a sell. Good all on SOHU, I've been watching AAPl looking for a retest of year highs..Where does this end NAS 3000?

chiu said...

kevin,

You have mentioned 70 weeks MA has been performed well over the last 2-3 years.

In facts, when I take a closer look, it is 89 weeks MA which is better.

Have a look this round, the low this round touches the 89 weeks MA.

Chiu

kk said...

Kevin,

Could you tell us whether it is time to long EUR/USD or time to short? Thank you very much!!!

Kevin said...

The Euro has been in a strong uptrend...I'm still looking to buy the dips. I don't have any buy signals right now..

Kevin said...

Hi Chiu,

Nice work with the 89 week MA...I'll post a chart for everyone to see...Thanks..

kk said...

Kevin,

I think last Friday's USD reaction is due to month-end PM's hedge rebalancing. EUR/USD's three support level are around 1.4735, 1.4629 and 1.4502. The Friday's dip stopped just around the 2nd support level. After the rebalancing, I think tommorow it will rebound to around 1.47. But from there on I have no idea whether it is to make new up trend or go down and test 1.45. Is it possible that you could share a little bit about what is your buy signal on this cross?
Europe has the most structure mortgage products, US's housing problem will definitly spilled over to Europe next year. Do you think EUR/USD will still remain the strength in 2008? I think probably AUD would do a little better. What's your opinion?
Many many thx!!!

Shen said...

Great Call, Kevin. Sohu just raised Q4 outlook after hour today. Shorts are getting murdered.
Should see 70s if the overall market starts getting a bit better.

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