So Many Looking for the Top

Discussion in 'Trading' started by MarketOwl, Mar 17, 2010.

  1. Throughout this relentless rise, 14 straight up days in the SPY, there have been so many looking for the top that I think it will be elusive. We might really need to squeeze every last bear before this sucker goes down.

    It is very strong considering how many people are calling for a correction these days. I wouldn't be surprised if we hit 1180 before we have a down day.
  2. I'll let y'all know when I start buying. That'll be the top.
  3. I heard a guest on CNBC say 1250 by April. He didnt mention if it was gonna be 10 7 point days or just one 70 pointer and then sideways.
  4. That was Larry Levin. That guy has been wrong repeatedly. He was bearish 100 points ago, turned bullish a few days ago, and now he's calling for 1250.
  5. C at 0,80 cents. That's the kind of irrationality the markets showed to the downside leaving many longs bankrupt.

    The same will happen to the upside.

    Dow 13K, gold 1600$ here we come.:p
  6. S2007S


    Yea Larry Levin, he actually mentioned 1300 by April, seems you can buy anything and sit tight until April and enjoy every bit of gain that comes. This is a no risk free money machine market.
  7. S2007S


    I noticed that as well, he was way, way, way, way, optimistic about the propping up of the markets. The way he spoke sounded like the markets are going to go up forever and ever and ever and ever and ever and........................
  8. Most of these guys are just talking their books.
  9. risky63


    lets see what happens after the powers to be have locked in their profits for the witchin and put in a reversal of those positions.
    cya next week..........
  10. It is still 2 more trading days this week and then the whole of the next to make this rise to 1200 reverse itself. We should see 1140 before 1250 and that is all that matters in my book and P/L part of the account. :D
    #10     Mar 17, 2010