I'm calling it - The Top Is In

I think a lot of traders this past weekend spent their time in the attics looking for their 10 year old dow 10,000 hats. This is going to be so much fun, this will be the third time they whip out those hats.

 

Of course, the question is if there are more of those folks than there are of the brainwashed sheep who said "see honey, Cramer told us it would come back, and it did. Everything's fine now!" Who knows?

Ultimately we're in no man's land here. We could just as easily be near the top here as we could see a blowoff bubble move of 200 points up on the S&P over the next few months. Personally, I'm sitting tight until all the indicators point one way, and right now there are too many conflicting ones. I'd rather wait until there's money lying in the corner and all I have to do is go pick it up...

 

It's 2:21PM, has the selloff begun?

 

We should make this into a contest. The winner of the top call (with verified trade) gets to tell me to ban someone (even myself).

Heh...

 

No need to worry about a top, this guy says stocks will rally until 2010, so that means just keep buying the small pullbacks of 0.25%.



Stocks Rally Until 2010 — Then a 'Very Playable' Pullback: Strategist
Published: Monday, 12 Oct 2009 | 12:34 PM ET
Text Size
By: Krystina Gustafson
Special to CNBC.com

This is the week the market will make its big push, as positive earnings surprises will send it higher and carry it through the rest of the year, said Marc Pado, US markets strategist at Cantor Fitzgerald.

"As these companies get an incremental amount of more production, it's going to be more profit, and that's what stocks trade off of," Pado said. "[It's] not about the economy, not about employment — in the long run those are important, but right now it's about profits."

Pado said the market will experience a "very playable" pullback early next year from people buying on rumor and selling on news. Still, it won't drop back down to its March lows, he said.

"That was a false low that was put in," he said. "That was panic."

 

Make sure you edit your post to avoid the risk that the winner asks to ban you!

 

Why should I be excluded?

 

Ready for the 3:30 run up.


DOW 9880

s$p 1075

 

call busted, 1071.66 high close taken out

but done without a new interday high on the $spx, and leaving an ugly black candle on the spy

it is ironic that the ES is flickering between 1071.50 and 1071.75, but the call was based on $spx not ES

 

Trade's not busted until 1080 gets taken out. That high was significant for a few other reasons.