Altucher- Bears ae dead wrong, S&P to 1300 in 2010

Actually, parts of 2008 and early 2009 were a blueprint for how that sort of thing unfolds. The volatility is cranked way up and the highs of previous sessions are almost always penetrated before the market would sell off violently in the final hour. So basically, short and hold was a near impossible strategy unless you were willing to give back all of your open equity in the hope that the market would settle 2-3% lower, which it often did.

On the flipside, the current market simply drifts higher with almost no volatility (or very little intra-day volatility). More often than not, it's a gap opening that doesn't fill or it's a drift sideways until the final 30 minutes to hour where it's jammed higher.

 

So, Vishnu, how are those longs treating ya?

 

Mr. Altucher bought on the recovery story hook, line and sinker by simply relying on herd behavior and looking at rearview mirror economic indicators. In the meantime, the European meltdown just passed under his nose.

That's why some actually trade and others write newsletters and media articles.

 

James, I think you'll find my comments quite prescient. And just to soothe my own ego, I am up over 100% on the RS Reliance Industries June 45 Puts I bought before their earnings (I believe you were telling your trolls to BUY BUY BUY)

And I own Treasury Calls.... TLT

Thanks for paving the way

 

Thanks for bringing this thread back.

As usual, the talking heads are dead wrong.

Most of them couldn't trade worth a crap, Altucher included.

 

Mr. Altucher,
can you please enlighten us with your erudite and prescient market calls once again? A person of your caliber cannot be ignored when it comes to market predictions.

So, what say you?

 

http://www.elitetrader.com/vb/showthread.php?s=&threadid=195121&perpage=6&pagenumber=5 i'm still bearish and i didnt agree with the guy but in all fairness, in the 4 4 10 sunday graph the spx was at 1181,he was bullish,we rallied to 1219,38 points from 1181,we are now at 1135,46 points from 1181,where were all the et genius'es when it was at 1219,people get some class

 

Huh, are you Altucher's fluffer?

 

There's still a long way to go with 2010, and S&P 1300 is not that far up. I'm no expert, but I could've told you guys that we can get to 1300 in 2010 ...

 

There have certainly been worse calls on ET. He posted from SPX 1173~ and saw 1220~ for 4%. Although peak to trough during that time was not favorable for holding to 1300, at a bit under 5/2 risk on the flash-crash touch of SPX 1065~.