huge stock market rally is over for now!

Is anyone really surprised that the futures are down yet again on Sunday? Glad I sold more Friday.

 

The best trade for this leg down would most likely be TECH and ENERGY. I bought some ERY on friday at around 20 bucks...
But I wouldn't be suprised with extreme movements this week before we simply plunge.
After all it's option expiry week isn't it?
As for the futures going down I'm not convinced very much so far that we will not see our double (triple in this case) top level again this week...

 

Triple bottom. Also, a huge dip on a war scare, 3 years of bear market had occurred, and there was no recession in 2003. Quite a different set of circumstances.

Bear in mind that in 2003 the market did not rally 40% in 2 months, it went up less than that in 12 months.

 

IMO a logical place would be to break above those highs, thus suckering people in on a false breakout. A false breakout suckers in far more people than if the level holds.

I think we'll top somewhere between 950 and 1000, quite possibly this week into options expiration. Ideal entry would be on a 1-2 day price spike with lots of bullish media headlines.

 

i agree that the market will go down and voted that way. but ur cockiness is just too much and u are going to be humbled in a very bad way one of these days...u could be the smartest fellow and yet by being so goddamn cocky the one time u say something wrong people are just going to pound on u...a dose of humility is good once in a while

 

Yes, my comment is that I do not possess telepathy, and that user has posted on multiple IPs that trace back to specifically different parts of the country. There are only so much tools I have at my disposal.

I wouldn't be surprised if they are NOT the same user and Port posted that after stock_trad3r to once again screw with the forums.

 

I was thinking the same thing. Some scary personalities on here.

Either way, i'm sure the "about me" thread was more than enough to ban both handles. And that's a blow to both as they would prefer to hassle under their "known" names.

Good luck with this trade! The intraday double top on the spy @ 93.1-93.2 was very compelling for me given that it backed off so quickly after retouching this level. The fact that it managed to then go sideways until the close was immaterial to me.

 

Full Moon is doing its magic again...

 

I bought some FAZ this morning. Let's see it go. Also sold AUD/JPY, looking for big risk aversion return in the short term.

 

So far so good...why is VIX hardly up.