S&P 500 short term overbought & low VIX

Discussion in 'Trading' started by MONEY4NOTHING, Jun 1, 2009.

  1. Yes. We call those green shoots. If unemployment hits 11%, S&P will surge 5% and hit 1200 by August. No worries. It's the new economy. (Oh, and VIX is up on today's rally. Suckers actually think it's different this time.)
     
    #11     Jun 1, 2009
  2. NYC212

    NYC212

    I am short overnight tonight. (looking to exit tomorrow. I bought some tickers that are so over extended, I need the market to fall tomorrow so i can rake in some profit hopefully


    I personally would not stand in front of this train. never bet against the US gov.
     
    #12     Jun 2, 2009
  3. S2007S

    S2007S

    I believe all the people who are yelling not to short now are the ones who wouldn't commit a single dime on the long side when the dow was under 7000.
     
    #13     Jun 2, 2009
  4. First target 934...
     
    #14     Jun 2, 2009
  5. ER9

    ER9

    i was long bias as of march 9th and stated as much in market surfers thread. i agree the markets are overbought and due for a correction this week or next but these rallies can carry on for days or weeeks. i dont know about you but i'm still nervous about trying to pinpoint this top. i still wouldn't short it yet.

    http://www.elitetrader.com/vb/showthread.php?s=&postid=2340914#post2340914
     
    #15     Jun 2, 2009
  6. At 945, its best to stay away from the market. Going long or short is neither a good setup in terms of the short-term trade.
     
    #16     Jun 2, 2009
  7. 934 target hit...next is 924.
     
    #17     Jun 3, 2009
  8. 924 over...bonus time! When you want to shoot, shoot. Don't talk!
     
    #18     Jun 3, 2009
  9. Have you bought the pullback yet?
     
    #19     Jun 3, 2009
  10. Very good call.
     
    #20     Jun 3, 2009