Market looks to have double topped...

Discussion in 'Trading' started by midlifeguy, Oct 16, 2007.

  1. I think we are headed lower way can you be bullish based on the charts.
  2. Thanks for the heads up.

    This is whats so great about ET...Well thought out rational maket analysis by expert trader's and it all FREE!..How cool is that?
  3. Bowgett


    That is why I read ET... for good laugh

  4. Mvic


    All that is happening is that the call buyers of the last few weeks but especially those who bought on mass last week are getting killed and the sellers are laughing at them as usual. Rest of the week they will be laughing at the put buyers who are buying here in hopes the big one is going to hit.
  5. I remember thinking the same thing about oil back around 40 bucks.

    Remember: A failed double top is a good signal too.
  6. Kiwi,
    If we push to new highs from here, I will change my stance. For now, it appears a double top is in place.
    I really think in 2008 the markets are going to start staring the risk of rising capital gains tax and dividend tax right in the face. This could drop the market significantly if Hillary gains speed due to uncertainty.
    I am actually targeting a retest of 10,000 on the dow by election 08.

  7. everyone looks at the pattern and establishes the same conclusion.

    quant bases programs will spot the human and natural trade put the opposite trades on and squeeze everybody on the upside.

    this is another reason why stocks are bid bid bid.

    load up.

    the dow only goes up up up.
  8. With this part I wholehartely agree. It looks to me that the big boys and market makers are playing with rest like my dog with cat - big fun but not for cat. Poor cats and traders!
  9. First off, technically speaking, anyone looking at a chart right now and calling a double top doesn't know what a double top is.

    More "Elite" traders doing their best.

    Good Luck!
  10. Ok
    All the bashing on me is looking stupid now. Market has DOUBLE TOPPED!!!!!!

    #10     Oct 19, 2007