Maybe I can bring the thread on topic... I too am slowly turning bearish, this job data may be what finally turns us into the bear. It is only bringing us closer to the inevitably higher rates, I'm thinking august, maybe earlier. The market will be anticipating this. The last few days on the Q's have been occuring at slightly decreasing volume, today's 'spike' could very well be the end of the rally. Personally I don't understand why strong job data rallied the market like it did, the biggest worry right now should be higher rates (for a million reasons) and this job data will only bring us closer to that day ADD: Too much greed is at play here, that's what I look at
Ig0r, history shows that rates tend to rise several months before the market puts in a top. I know James will say, "not this time" but he is not too bright and is just a paper trader anyway. NOTE: In another thread when I showed James that rates do rise in Presidential election years his argumentative response was, "not this time".
As the NASDAQ COMP closes on the highs of the day! 2057.17 +42.16 Is this kid the greatest contrary indicator known to Mankind, or what? Thanks again James!
You'd better change quote provider. Yours is displaying the charts upside down. Jimmie my baby sucks. Jimmie Jimmie come home, leave these good people alone. Quote from James Stock: I wouldn't be surprised to see a 3pm sell-off to get the ball rolling. Note: I'm making this assertion just like I did last time: AHEAD of time, with the S&P at a high. Now its 1143. Jimmie, your call sucks again
You are correct, pcp. I'm going to admit that this statement by me looks to be wrong as of today. And I encourage anyone to point out any other mistakes I make. I'll be the first to admit it when i'm wrong. As far as my call that the S&P has topped here, I firmly stand by it. Maybe we didn't get the 3pm sell-off, but whatever happened 3pm-4pm did not scare me out of any short positions. I say the S&P has topped right here.
And where is your stop Manolo? Back in January you had no stops as I recall and didn't seem to be concerned that your ES "trade" went 17 handles against you at one point. Where is your stop on the ES? How much are you risking here?
enough with the lying, waggle, or i'll bring up the thread in question where you say the S&P went 17 handles against me. You neglect to mention that I sold Jan 1140 calls then, and the S&P settled BELOW 1140, and the calls I shorted expired worthless. So why not be honest and tell people that DESPITE the S&P going against me, I made out like a bandit on those Jan 1140 calls. As far as your other questions are concerned, this is an open exchange of ideas forum, so you first..
I am moving this thread to chit chat. It started bad, the middle moved up to below average, and then the midstream switch of aliases by the originator pushed it down another level.