Yes, there's a better place. Not in the stock market to avoid losing $. Jackbyrd, great to have you back!!
I'm bearish as hell but once again the extreme negativity has my radar gun going. Maybe that's why we're squeezing higher all afternoon and evening. The market trades like a lot of new shorts came in yesterday. Not to mention the old shorts like who're still hanging around. Let's face it. Stocks aren't going to break unless MANY global markets reverse course also. IOW's I'd be surprised to see a sell off in stocks not cause massive deflation signals halting the move in energies, metals and grains as well as probably helping the dollar. Big ifs. Sentiment's the key though. If a few too many folks got caught long above 1400.......
Now hold on just a moment about sentiment. its at very bullish levels 58% bulls 23% bears of the people who count. that's high and when falls occur. question is, can they hold it up to end 2006? either way, its going lower.
jackbyrd, feel free to check any of my posted trades against their ET timestamp, If you find one that is after the fact, I will honor any request you give me. Till then, keep showing me the money.
Seriously how do you do this ? http://finance.yahoo.com/q/bc?s=^GSPC&t=5d Thanks for jinxing my short trades once again.
I posted my opinion, but in the wrong thread http://www.elitetrader.com/vb/showthread.php?s=&postid=1279275#post1279275
if fibo numbers work ... then todays high might be the end of the retracement in the spoos from the lows the other day bring out the tea leaves ! funny how the spoos are the strongest since the other days lows ... compared to the dow , nas100 however the russell2000 is even or was even stronger than the spoos ...
here we go again i kind of think there's a short term top also however, these kinds of threads rarely acomplish more, than cementing biases, eith with or against the original post and too often, those biases prove deadly