The S&P has had it ! It failed this week. It only made a high of 1555.9 and that's an intermediate term top. Take it to the bank. The S&P will not trade above that level for the next 4 months. It's going lower baby.
Like I said, we have seen this before, everytime we see these type of dips we see new highs 3-4 days later. Last night Asia was up across the board, you would think they would have sold off on GOOG and MSFT, didnt happen, Shanghai was up alot last night. I think the DOW breaks 14k again and heads 1-2% higher and most likely pulls back from there. Even though today feels like the bear may be back, I'm not buying it.
If in fact the S&P has topped, what how does it effect you? You clearly don't TRADE or have anything to do with the financial markets . . . all you do is play on the Internet after your Mommy goes off to work in the morning.
:eek: :eek: :eek: :eek: http://www.elitetrader.com/vb/showthread.php?s=&threadid=27800&highlight=1150 keep trying.. you might get it right someday
And all you do is call moves after they've happened like some sort of retarded reporter...perhaps you should hang up the cloak and quit acting like you've made one good call in the last 6 months dummy.
Exactly. The "Ghostcrapper", "RubberBirdBrain", "James Stock", and all of his other two dozen aliases have been posting this crap for years. He's been BEARISH for over 3 years. Notice the date of that thread above. 1/29/2004!
It is never certain whether one has reached an intermediate term top, except in retrospect. The next ten days, however, should help us assess the probability that we have reached the near term top. I would think that if we break below about 1480 that would be a good or bad omen depending on whether you are a bull or a bear. If we continue on above 1555 then I have no idea what that means other than be careful, because we don't have any resistance established above there, except perhaps around 1800 which is about where the real all time top is in constant dollars. Since I am flat at the end of the day, i really don't care. But i would think that some of you who may be very long on margin (perhaps S_turder would fall into this category) might want to consider taking some off the table or at least not plunging any deeper into the long side for a few days. We should in any case see a positive reaction to todays sell off next week, but if you did buy this dip, and you get lucky and get a little profit out of it, personally, i would try to tone down the tendency to be greedy. (I won't be buying this dip because i like to buy high and sell higher, and also i don't like to buy, or sell, based on what i think the market will do the next trading day. )
If all this is true waggie, then you'll be jumping to bet me $50K comparing our audited returns over the last 10 years. I will bet you $50K that: 1) my audited returns blow yours away from 1996-2007. I've had 11 winning years in a row. We can also bet that 2) I've had 11 winnning years in a row, though you say i've "been bearish for over 3 years". I'm dead serious, i'll let atticus, RM, Pabst and other neutral parties mediate. All of them. Now w all your bs, background, tuder jones employment, floor trader, eliot wave specialist etc etc etc you must be itchin to bet against someone you've been saying for years "does not trade".