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Strategies & Market Trends : Playing the QQQQ with Terry and friends.
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To: ds1975 who wrote (565)6/2/2005 7:41:43 PM
From: Walkingshadow  Read Replies (1) of 4814
 
Trees don't grow to the sky.

Every market goes through corrections.

The longer this is delayed, the more unhealthy things get. This is starting to set the stage for a much more severe correction than I had hoped.

It would have been much better if this market corrected only modestly, which might have been possible a week or so ago. Now, all that has happened is that QQQQ has engorged far more of the seeds of its own destruction.

But let me be clear: the long-term uptrend is not threatened IMHO. The short term uptrend very definitely will stop. But it is the medium term that has me increasingly concerned now. The possibility of a severe correction is increasing with each passing day, not just because of the time delay, but also because each day there is more distribution volume accumulating that must be dissipated.

T
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