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SPY, long or short?
You do not have permission to vote on this poll. |
| Buy |
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10 |
33.33% |
| Sell |
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20 |
66.67% |
| Total: |
30 votes |
100% |
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nocloud
Registered: Apr 2011
Posts: 68 |
08-25-12 07:59 AM
Are we at the top or just about to breakthrough? Thoughts/comments?
My inclination is that being election year, we'll have a breakthrough in October (typical breakthrough month) followed by selling spurred by profit taking in Dec as funds move to lock in this year's gains.
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cdcaveman
Registered: Aug 2011
Posts: 3518 |
08-25-12 09:36 AM
Quote from FreakofNature:
No valuations at these levels, global economy is weak, volume is extremely low, wait for the price turn in the weekly and then short.
price turn in the weekly? in the weekly chart?/ i never understand.. people always talk in time frames like daily weekly 5 minute etc.. these are standardized charts i guess? like a daily chart.. is each bar is a day? etc..
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FreakofNature
Registered: Jun 2011
Posts: 1062 |
08-25-12 11:12 AM
Quote from cdcaveman:
price turn in the weekly? in the weekly chart?/ i never understand.. people always talk in time frames like daily weekly 5 minute etc.. these are standardized charts i guess? like a daily chart.. is each bar is a day? etc..
Ya each bar is 1 week (Monday to Friday), lower timeframes tend to have too much noise, but when the weekly and especially the monthly turn, tops and temp tops are usually created.
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kjones5159
Registered: Aug 2012
Posts: 134 |
08-25-12 05:28 PM
I think the S&P may bounce around in the 1400-1430ish range but we won't be seeing anything higher, take away the Fed's (your/our) stimulus money and what happens to the rally?
People will speculate on QE3 to death, but when they get nearer the previous top around 1500, they'll ask thrmselves "is this a business boom or a speculation bubble? Should I really keep chasing thin air THIS HIGH?"
Aaaaaand...it's gone.
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