S&P 500 looking very toppy

Discussion in 'Trading' started by rubberbird, Jun 20, 2005.

Is the S&P 500 about out of gas?

  1. Yes, rubberbird is usually correct

    67 vote(s)
    33.3%
  2. No, there's more upside ahead

    46 vote(s)
    22.9%
  3. I don't know/ I don't care/ the bird is an idiot

    88 vote(s)
    43.8%
  1. Bird, bird, bird is the word!!
     
    #21     Jun 23, 2005
  2. ed_berk

    ed_berk

    nice call birdman
     
    #22     Jun 23, 2005
  3. good call bird,
    who wins tonite detroit or spurs?
     
    #23     Jun 23, 2005
  4. Steelhead,

    last I checked in, I was in your stink-house!! I guess it's really "what can I do for you lately?!!" No worries, I got thick skin. And the fact that lithium capital hasn't breached this thread, yet, is a good indicator that i'm onto something "toppy" here.

    OK, the big game...i'm excited about it. I'd love to say the Spurs will win, but they're favored, and it's not like my 3 to 1 underdog calls (ie smarty jones, and the Pistons last year). I only like to make calls where i'm a big underdog. But I do think the Spurs will prevail, though I give huge credit to Larry Brown and the Pistons for their intestinal fortitude, and would not be upset if the Pistons won. Either way, games 5, 6 and hopefully 7 are what great b-ball is all about. First Horry bailing out Tim Duncan's legacy, then Rasheed making amends for his mental lapses, and now tonight...
     
    #24     Jun 23, 2005
  5. the bird is a hawk.

    Spectacular call, Do you trade futures? stocks?
     
    #25     Jun 23, 2005
  6. Thanks coolweb, and thanks Ed Berk for the nice words. It looks as though not everyone agrees that i'm a hawk as 40%+ say i'm an idiot according to the above poll. Thankfully, I have thick skin, and I love playing the wrestling villian, so the name calling doesn't affect me at all.

    I trade mostly stocks and options. I'm usually a seller. I'm always an option seller (of premium). My world works in reverse than the normal buy and hold people, but so far it's served me well.

    I don't trade futures (anymore). If I think the market is going down, i'll find the specific stocks rather than just selling the whole market. Hope this helps!
     
    #26     Jun 23, 2005
  7. doublea

    doublea

    "It ain't bragging if you can back it up". Nice call. 1225 ended up being the high too.
     
    #27     Jun 23, 2005
  8. I hate everything the bird stands for. I don’t believe in bathhouses. I don’t believe in not flushing the toilet. I don’t believe in mixing prescription drugs. I don’t believe in picking your nose and eating it. I have to say I think the bird is right this time. I think the fed and gas are great reasons. Also didn’t we go down the last few earning periods? There is nothing good in this economy but the housing market. They are building at ridiculous levels now. Everywhere I drive in my area they are putting up 800k plus homes. I would have to say 90% of the homes have 3 door garages and have to be 4000 square feet at least. The people moving into them drive 20k cars. Come on this is a bubble waiting to happen at some point. You either can live in a 1600 square feet townhouse or 4000 square feet single home that’s your only choice around me. I don’t even see new townhouses being build here anymore. You got people flipping condos in FL or DC like its nothing. What happens if your home goes down 20% and you lose one income in the home? You can’t leave because you just pay interest the first few years. Also they are passing a law that you can’t go bankrupt anymore. This will be like modern day slavery if that ever happened.
     
    #28     Jun 23, 2005
  9. I strongly agree with your last few sentences...everybody's playing musically chairs, music is still playing but as they are dancing to the music, the chairs are disappearing. This is one hell of a bloodbath in the making. To many people are stretched well beyond there means, trying to live a champagne lifestyle on a beer and peanuts salary/budget, that can't go on for very long. People, globally, have been spoiled with low interest rates, which have been way too low for way too long and deep down everyone is afraid to admit the inevitable.
     
    #29     Jun 23, 2005
  10. toc

    toc

    S&P500 breakout has failed, now it is downside play. I was hoping for long but got proven wrong, sollow the pride and bite the bullet...............cut the losses short and let the profits run!
     
    #30     Jun 23, 2005