and what exactly do u see on the chart, besides that bounce from support and higher lows higher highs that makes u think is goin' down.
hummm...interesting I had the same thought on Fri http://www.elitetrader.com/vb/showthread.php?s=&threadid=75995 however everyone must have left ET early There was an interesting article in Barron's over the weekend that basically said the big Broker types may have seen the best of their day and there might be some profit in the downside. I actually went ahead and DID a put JAN/OCT 145 calendar. I noted how much interest there is in Oct 145 puts and 160 calls. Someone MAY be hedging their bets.
Bit...if I could peek into your brain...why does that chart look bullish to you? To me it looks like a high was made in april along with the SPX then down and now sideways..could go either way???
look at all the past retracements of similar lenght as this one, and what happened after the first couple of white bars +higher lows/higher highs and that hammer breakin' out of the base. also there's a trendline in place. that's enough of a bull to me.
me thinks nobody here has a buy and hold mentality and for the short term 3-5max% gains are very much possible and that's what i see ahead. prolly wont get back to previous highs nevemind takin' 'em out but that shouldn't be anyone's concern.
Looky looky, Bitchslapped is back to talking smack and a confident bull. Same old crap as his ditch digger mentor. They do the buy and hold song when they buy every top and then rationalize. Since the chart was "bullish" at the highs 5 months ago, when does the chart get bearish for you ditch digger?