The dip buyers just got beaten up!

This just keeps getting better!  Tech stocks are taking a beating after such a sharp snap back in prices yesterday.  I posted the above picture on the Facebook page before the selling really started today.  The price has since made a new low in the Nasdaq and I think we will be close to a bottom here.

But this was a classic trap the dip buyers move, just like the one one circled earlier on the chart in Feb.  I am still flat waiting on my opportunity, but I am starting to smell the sweet scent of opportunity.  My only concern is that it doesn’t immediately snap back again, I would prefer it to continue selling tomorrow and then bottom out.  In this game we rarely get what we want, but this is looking really good so far!

Good trading,

John