Is S&P forming intermediate term double top?

Played in the money Dec puts on SPY near the "double top formation" which worked well.

Also took profits on some longs during the pullback/selloff, of course only to watch them go back up today given the hype of the GM IPO boosting the market!

 

Congrats and thanks for sharing!

Alot of et'ers voted in the poll and they must have traded on it as well. It would be great if these people would contribute their success stories here. Thanks.

 

Here is one: I went long when you said something about "weak legs". The S&P rose to 1195 since then, so I am up 90 points. I'll sell when you declare double bottom. Thanks.

 

lol !!

the quote is a fake--but you are free to provide and link to prove me wrong--and so are you moderator lol.

 

Certainly, here it is: http://www.elitetrader.com/vb/showthread.php?s=&postid=2948273#post2948273

 

Thank you for assisting me in showing that you created a fake quote.
Me thinks someone did not take their medication this morning.

 

It's high time to get back to the truth of this thread and that's in this original post.

The S&P has formed a double top and there is downside ahead.

 

you could be right. but i think november's range holds through end of december.

 

You are right it is hard to get any real selling momentum in December.

Maybe the 2 weeks leading up to expiration will help increase volatility.

 

Those are of little relevance when there is excessive bullish sentiment, as there is right now.