i guarantee that the s&p just made an intermedaite term top on 11/22 @ 1407.9. it will not see that level for many, many months. i am so sure of this that i will leave ET and not come back under any alias if i am wrong.
Define many many Define intermediate Is the any reason you always makes these calls days after the fact and after the fall ?
This thread reminds me of a guy who called a double top at 1389 when we were at 1385 and then some other moron told him we would go to 1410 next http://www.elitetrader.com/vb/showthread.php?s=&postid=1257742&highlight=1410#post1257742
Thorn: I have followed all your top calls for the past few years. I noticed that most of your calls were very correct timing wise, another thing that I noticed was that there was something common between your accurate top-calls and the 2 that did not work. It was the bond market. Right now the bonds are acting similar to the time when your calls did not work. I think that the market will go past the high of 11/22 and I honestly hate to see you leave.
Doublea, you are one of my very few friends here, and i truly appreciate your post. I hear you about the bond market, and i may be wrong about this. But my feeling is that when the market goes lower now, so to will bond yields. Things are alittle different this time. The lower the s&p goes, the higher the risk of recession, thus lower yields. Best of luck to you my friend. ps defined terms: 1) many, many = intermediate = 3 months minimum 2) leaving et = i will not post again under any alias period.
Did you sell the 1400's thorn ? I like thorn and he is a cool cat but the fact remains if you had bought every top he called since 1180 and held even as rubberbird you would still be way ahead right now. Even if you bought the last call of a top at 1388 you are only down 6. You said intermediate, is that because you feel we will eventually make a higher high ?