Well. Closing this here at 1078 for 8 lovely ES points. This was pretty much risk free. Waiting now for a dip to buy again. When will you all learn?!!! I think we can all agree that DOW 20,000 is a CERTAINTY at some point in the future (probably whithin 4 years) and yet there are morons trying to SWING SHORT an INDEX that the government will make SURE goes up overtime. You're giving your money away, and im tired of taking it from you!!
I support this call for a top, even though it's been declared a busted call by the OP. ImPO it's going to start with Asian markets shortly, as in a matter of days. It is simply unnatural behaviour for markets to continue marching on in such a manner, a retracement at the very least is almost imminent ImPO. Also, about time we took some back from Lexcorp & Co
i declared it a busted call becasue i defined it early in the thread as no higher close, a very objective measurment that has in fact occurred. I wasn't going to come back and try to redefine what I based it on there has still been no higher intraday high, although the after hours e-mini today would definitly translate to a higher spx high in any event, it would be possible (if only in after hours) for a trader to get a higher price (at least on e-minis), so therefore the top was NOT in does this mean I now think it's going a lot higher? no
There has to be an error margin. Because of this, I don't believe this top call is blown. The market is one ship guided by millions of wanna-be captains. There's no way you can stop it on a dime - even with George Soros screwin things up.
Well, going by after hours, the top isn't only blown - it's stomped on, shattered, incinerated and then ground into tiny particles of dust.
Good trade. You could have got a few more out of it, but at least you weren't trying to short it, lol!
Perhaps it would be appropriate if the thread is renamed "Just another peak in the trend" as afterall, the choice of words pertaining to linguistic conjugation is everything in terms of effective communication. If the SP is to form another peak around 1100 for example, and then retraces below the September high, it isn't any use coming back here to say, I was nearly right.... TIMING IS EVERYTHING! Your stopped out, the trade is bad... What good is it ever going to be, to be nearly right? Happy days for the bulls, so why not join in with the winners folks! The trend is your friend...
There is going to be no top, trillions in liquidity are going to keep the market in overdrive for decades. Bernanke better wake up and realize the next bubble he created. Rates need to be raised right fuc$king NOW.
If you truly understood how economics worked, you'd know that it's impossible for the Fed and government to continue on the path they're on for "decades". Market forces will see to that.