I don't know. For every top call, there appear to be 2 or 3 posts with things like "S&P will be 1300 at the end of the year!" or "I just doubled my longs after today's breakout." I haven't seen this many dumb bulls ready for a slaughter since April.
Hmmmm, with very tiny risk required, one could already have taken profit off the table and made 4 times more than was risked. This is how real traders make money. Kiss my ass.
It's called top call, because it's a clever sounding interesting name, which would then cause it to be clicked. No successful trader calls tops or bottoms, they call potential tops and potential bottoms, and they make money whether or not the future proves it as a top or bottom. Look how many great day trades there have already been shorting off the top of this right shoulder? There have been no less than 5 great trades, each involving very low risk, already. So, once again, kiss my ass.
Nice backpedaling. There are long and short trades with low risk available everyday, whats your point?. You started a thread and called a top, the market has yet to put in a lower low. Now it was just to get clicks?
No, you just don't understand how to trade. I'm not back peddling. If you knew anything, you would also see that the market has failed to make new highs, and has spent days failing to get over the right shoulder. So, successful traders such as myself, can make money shorting all along this shoulder. Now, if market rallies into new highs, I make money. If market sells off, I make money. Wouldn't you too like to be in a situation like this, instead of burning out your accounts? I know you would. I'm sure it must hurt to suffer the massive draw downs that you do. But there is help. Open your eyes, your mind and your heart. Stop trying to be right, and start trying to make money. And stay far far away from gurus with no name.
Is this the stupid h&s you keep talking about? The one that looks like it completed at the beginning of Sept? You made this thread 4 days ago, wtf are you talking about? No recent price action resembles a h&s. Daily chart of SPX here.
*ahem* http://www.elitetrader.com/vb/showthread.php?s=&threadid=197529 That thread is 4 months old, you and I both know nothing has changed since May of this year. Please Joseph, just stop it. You are still learning and hope to be a great trader someday, thats great. Cut it with all the delusional attitude. Nobody is buying. Just go back to lurking and (maybe) learning.
At what point in your life did you ever decide that I pretend to be a master trader? I, unlike some on this site, don't pretend to be a master trader and then beg people to give me money. If you can't find the head and shoulders, then you probably don't need to bother trying to find it. I would just give up if I were you.