How Far Is The Top?

Discussion in 'Trading' started by tradingjournals, Jul 21, 2011.

How far is the top on SPY

This poll will close on Sep 8, 2093 at 2:50 PM.
  1. 2%

    1 vote(s)
  2. 5%

    3 vote(s)
  3. 10%

    2 vote(s)
  4. 20%

    3 vote(s)
  5. 0%

    3 vote(s)
  6. Skies the limit

    8 vote(s)
  7. Prefer not to tell

    2 vote(s)
  1. How far is the top? That is the title of the post. Reference point for SPY is high of July 21, 2011. SPY at 134.82.

    Now for more detailed analysis. How far do you think is the top on vehicles such as QQQ, XLF, XLE.
  2. mikeenday

    mikeenday Guest

    very close.
    tomorrow might be the gap up then down day.
    or gap down will be perfect indicator for top.

    current strategy should be: Buy stocks, Short index.

  3. my intuitive semi-quantitative ad hoc analysis #1 indicates that we could see SPX 1400 (but not more) by Labor day. This is based on something I noticed recently. It's probably BS but I will act on it anyways :) . Regardless, that's my target+ time.

    In support of this target I see:
    Nitro giving 1400+ target for some time now.

    GS has 1450 target for the year. So 1400 by Sep followed by a dump, followed by a rebound could reach 1450 by New Year.

    I will have my analysis #2 done this weekend and report the results here.
  4. Yes, he follows the tried and true formula of "always have a more bullish forecast than your competitor" to win the hearts and wallets of every perma-bull fully invested pension fund manager.
  5. what did he do what Abbey Cohen was around?
  6. S2007S


    Wow 2000, sounds incredible, I guess when you have trillions in stimulus and the fed backing up the world economy you can predict 1500 or 2000 and it will come no matter what the economy is going through. With Bubble ben bernanke and friends working, this market can only go up, worthless trillions can do unbelievable things, like take the SPX to 2000 and beyond!!!!
  7. Birinyi's past prediction (for 2008):

  8. oh no, are we going to have to go through this again? I've already been through it once.

    I'm tired of all time new highs.

    I could go for a big deflationary cycle where the cash in your account is worth more than whatever you got on.
  9. dont know how far is the top but next sell signal will work well !
    #10     Jul 21, 2011