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. China Severs Its Currency's Link to Dollar
    Thu 8:23AM ET - AP
    China dropped its politically volatile policy of linking its currency to the U.S. dollar but retained controls on its exchange rate, switching the link to a basket of foreign currencies in a move that could push up the price of Chinese exports to the United States and Europe.

    8:29am 07/21/05 LARGEST DECLINE IN JOBLESS CLAIMS IN 2 1/2 YEARS

    8:29am 07/21/05 U.S. INITIAL JOBLESS CLAIMS AT 3-MONTH LOW

    8:29am 07/21/05 U.S. CONTINUING JOBLESS CLAIMS FALL 41,000 TO 2.58M

    8:29am 07/21/05 U.S. 4-WK AVG INITIAL CLAIMS FALL 3,250 TO 318,000

    8:29am 07/21/05 U.S. INITIAL JOBLESS CLAIMS FALL 34,000 TO 303,000

    +
    Bomb scares in London.

    Still some news to come to make the session interesting.
     
    #291     Jul 21, 2005
  2. excuse me amigo?

    someone makes an outrageous claim, and then does zero to back it up. And then insults me rather than confront the reality of my offer to prove my 10 year record. My response is called "sarcasm", and his ridiculous accusations and non-responses were very worthy of a sarcastic response.

    The bird always takes the high road.
     
    #292     Jul 21, 2005
  3. Mvic

    Mvic

    OK lookslike the market isn't ready for summer rollover just yet

    Long @1234.50 stop just under 1230.
     
    #293     Jul 21, 2005
  4. rubberbird, you make some great calls, dont junk up your threads with all the extra b.s.
     
    #294     Jul 21, 2005
  5. If you make money on this call I will start thinking you’re a terrorist. Your 2 for 2 on terrorist attacks so what’s your real name. haha
     
    #295     Jul 21, 2005
  6. Mvic

    Mvic

    LOL I prolly called the top with that trade. Damn.
     
    #296     Jul 21, 2005
  7. steelhead, you are right. thank you.
     
    #297     Jul 21, 2005
  8. Mvic

    Mvic

    Stopped out 1229.50 pretty dumb trade.
     
    #298     Jul 21, 2005
  9. RUT shows some small cap top with divergencies.

    A pass of 1220 would the first clear indication of a top in place for the SPX.
     
    #299     Jul 21, 2005
  10. birdy, you're still holding into earnings, right?:D

    Let us know if your stops get hit or if you decide to cover.
     
    #300     Jul 21, 2005