thorn - with respect - you have been itching to call a top the past several weeks. what do you see now?
look at the options and futures - activity lately has been _krazy_, and i know krazy. as i see it now, the whole world is short: these fades are being caused by the options and futures. there is some big cash swinging around the derivative markets lately and, frankly, the shorts are going to bite it because of this. the honest-to-god shorts who have sold short equities are going to feel a large amount of pain in the coming weeks from this new cash rolling around. I am curious how much it will take for them to break.
Interesting theory. What about the May rally everything was going up in tandem, wchih really didn't make sense. Oil is freefalling like they'll be back in to run it up again in a few months.
KK-- this thread is about Pabsts call. itching and calling a top are 2 different things. I said ill start a new thread when i see another "intermediate term" top, and that hasn't changed.
Rather than make an "all or nothing" call, isn't it better to just say the odds are in favour of being short? I mean what if it goes to 1352, then falls to 1180? A short call will be fine, but your "topped at 1348" call will be wrong. I don't really see how such precision can be justified.
well, large specs are still buyin' and with the chance of a rate cut the next fed meetin' risk is still concentrated on the upside imo.
since the dow closed at all time high yesterday, do you guys think all the trend followers will be buying today?