Tuesday, July 29, 2008

NASDAQ 100 - where to? (29/07/08 Update)

As I speculated in this post NASDAQ 100 and market in general moved higher today, lower oil, short sellers fears of SEC ingenious actions...whatever.
I still think (QQQQ) has no real reason to go above $46 this week, even more, it is quite likely that tomorrow after 10:35 Crude Oil Inventories Report a lot of things might change, especially if technical analysis hold water and OIL/NAT GAS are about to justify recent buy signals.
Should (QQQQ) break $46 barrier it might go as high as $47.50, this is where it will become interesting ( It is like it has not been "bloody interesting" already )


P.S. I plan to do a detailed write up on broker I am using - after many years of searching my quest to find "The best online broker" is over.