I started doing something different in my trading a week ago that has had a dramatic positive result! By joining the FREE chat room I have mentioned above, I have pushed my trading up another level! The MAIN IDEA of the ET forum is to interact with other traders to share ideas that can benefit us all! JOINING THE CHAT ROOM HAS GREATLY BENEFITED MY TRADING AND I KNOW THIS IS SOMETHING I SHOULD TELL OTHERS (ESPECIALLY NEWBIES!)!!! When something new creates a dramatic positive change in my trading...I WILL DAMN SURE TELL EVERYONE ABOUT IT!!! BTW, what is it you are doing to help other traders??? :eek:
OK you're forcing us to acknowledge your greatness..or is it luck Sooo..., Nice call. Looking back I might have said the same, but about a week later, when the day painted a tall top shadow after bouncing precisely off the previous high of 1015. It is amazing how the open and close prices for six of the nine week period bounced off the one thousand level. If that is not a demonstration of the efficacy of the technical analysis of human psychology, I don't know what is. I never noticed before how well the S&P adheres to the major number s/r levels. Hmmm, just may get me to start swing trading. So are we going down further from here now? Will you wait for more data or do you have a lower level in mind already? I see support around 950, but i'm just a daytrader so what do I know?
BTW, I did great yesterday and most of my trades were LOOONNNGGG the ES! Now don't get sensitive, I'm just messing with you (what is life without good antagonizing humor). Now would you please throw up some charts here and show me the toppy S & P theory you have....You might just show us something beneficial to all!
Please ease up a bit guys. Have fun, share, teach, learn, but lay off each other. I think the recent predicament of one of our members should be enough to remind all of us that this whole thing might be transient. Let's work together to build a better EliteTrader, and maybe, we can all get rich together. LOL, now of course that doesn't mean we have to live next to each other. Btw, there is an interesting article on CBSMarketwatch about bond spikes and similarities to the 1987 meltdown in stocks. It makes a good read.
Now throw up some charts here Romeo! We will all sit at our desks while you show us what is going to happen with the S & P on the chalkboard. The main reason I want to see your theory is because I think the S & P is getting ready to move forward over the next 5 months or so. The exchange of ideas could help us all prepare for the future trend.
First, the "spammer" thing was a joke. I do completely agree with your rebuttle to it, although you didn't realize I was being sarcastic. Which one is the sarcastic face? There is a double top on the S&P right now at 1015. No need for me to post a chart, especially since I don't know how to. Look at a chart yourself, and you will see it. For the rest of my answer, look at my next post.
Many months. Many months. If the S&P can break through 1015 in the next few months, then I am very wrong. But right now, i've been very right! Many, many months.
I was ready to leave this rat trap the beginning of July. But I stayed? Why? One reason.. Inandlong. While some might think i'm too general, or just a plain ole arse, if you can sift through my "in your face" style, you may learn that I am in a league of my own. That's not me talking, it's my audited track record. At some point in the next few years, you'll realize exactly who I am, and what I'm talking about. For now, just enjoy that I'm still here, spewing alot of accuracy.
I will say that you've had a hot hand in both directions! Nolan (Romeo) made a splendid call looking for strength when the Dow was in the mid 8000's a few months back and certainly pegged the highs this rally. I for one think you have a firm grasp.