too funny reminds me of the bible-thumpers defending the age of the earth at 7000 years its gettin harder though, aint it....
My buddy allan let the air out of the bag slowly in 2001 --- I don't think our old friend Ben will have the same luxury in 2010 time will tell
gigidy!! <img src = "http://i2.bebo.com/017b/3/medium/2007/02/11/21/2494024314a3582677911b62288307m.gif"> http://www.youtube.com/watch?v=FiJ-OIR73jQ
Looks like your confirmation down day has been taken out. still confident on the top you called?? never know... what about if earnings turn out decent this coming week... which is possible.
does this thread remind anyone of southpark, the whole town is agreeably up in arms at sw and he hasnt been proven wrong yet, its a lynching, lets hang em
well... if it is indeed the top... which it could be, then kudos for the guy that called it.... bulls-eye!! but, if it isn't... which could always be the case... oh well...
nobody is lynching anyone for some market call (by the way you can read about dozens of market calls at any given day, so somebody must be right at any given time, so what). This guy has zilch clue about the market other than his 2-3 moving averages which he believes the market respects. Such ignorance shows a lot of lacking knowledge of what really drives markets. What else can I say... He has already demonstrated that he lacks basic probability skills...
what i keep being told, over and over, is that 'calling a top' is a fool's game and that you buy at a pullback to the trend, yes, that IS true - in a BULL MARKET this, however, is a bear,IMO shorting resistence in a bear is the same as buying support in a bull i think most people are confused about the timeframe = they're refering to the timeframe within a power spike, i'm refrering to the overall trend WHICH IS STILL DOWN, until proven otherwise on the day I called it, I called the hypothesis in this thread confirmed http://www.elitetrader.com/vb/showthread.php?s=&threadid=176672&perpage=6&pagenumber=1 in the 24 days that have passed since 9/17/09, what is the highest close above that day? 4 points, the day I said was the top. (the previous 9 trading days, it had run nearly 80) A day that STILL isnt taken about. A close of 1071.66 followed by a day with an interday high of 1080. Depending on one's technical discipline, either could be called 'the top' but neither have been taken out. That is what they are prematurley gloating about It has not closed a monthly bar over the 20 month moving average, either last month nor this month's lower 20 month ma at around 1052 holding a mere 4 points for 24 days in a historical powerspike is hardly and invalidation of the hypothisis of either thread <img src = "http://www.elitetrader.com/vb/attachment.php?s=&postid=2578747">
What time frame are you looking at to determine the trend is still down??? We've been in a strong uptrend in which you buy every pullback for months now. The market broke through the 200-period moving average in July and on a 5- or 10-year chart the 200 MA is now rising, confirming that you buy every pullback to the rising MA.
OK, wait I see it now on the 15-year chart. The market has risen up to the 200-period MA and at this point is "overbought" and likely a "top" unless it breaks through.