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Thursday, September 16, 2010

Stock Market Report - End of September 15 trading session, and on the eve of September 16 session

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Stocks and stock market: stock investing and stock trading

The stock market models of this blog have been in a bullish leg recently, and today they issued a warning for a potential retreat. They suggest to us to take profits on any longs we may have. They estimate the retreat for the NDX (Nasdaq-100) to be currently around 3% to 5%. If the retreat takes place this does not mean that the current bull leg would continue. The situation would be re-assessed after the retreat if the retreat materializes before any further up move. We asked the models what the current upside would be if it were to continue higher without a retreat, and as of close of Wednesday they estimated the upside to be around 3% if the marker were to continue. The market issued the warning however. The analysis was made for the Nasdaq-100 index. A related ETF is the QQQQ. The above numbers translate to around $45 on the low side, and 49.25 on the upside for the QQQQs. The QQQQ closed at the 47.90 area.

Today we will be watching how the market performs. It is always risky to trade the stock market. We are always reminded that one should never trade or invest money they cannot afford to lose.

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Happy trading,


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