Swear On Tloosy's Grave I Will Never Short Again.But If Drop,What Are Likely Targets?

Discussion in 'Trading' started by shortie, Oct 31, 2010.

If SPY Were To Correct Where Will It Go?

  1. Won't meaningfully correct until Year end

    4 vote(s)
  2. ~113 - October Low

    3 vote(s)
  3. ~111 - Sep 13th Gap

    0 vote(s)
  4. ~109 - Sep 3rd Gap

    3 vote(s)
  5. ~106 - Fake Flash Crash Sep 18th

    0 vote(s)
  6. ~104 - May and Aug Lows

    1 vote(s)
  7. ~100 - 2010 Low

    0 vote(s)
  8. Below 100

    2 vote(s)
  9. I have no idea or prefer not to share my secret knowledge

    3 vote(s)
  1. [​IMG]

    the picture of the fake flash crash. they quickly erased the data point as if the thing never happened but i kept the chart just in case...
  2. TV celebrity and a former hedge fund manager Jim Cramer was kind enough to share his downside targets:

    ~116 (if 2% drop if high unemployment this Fri)
    ~115 (if 3% drop if Republicans win)
    ~112.5 (if 5% drop if Fed buys too much)
    and of course the BIG ONE:
    ~107 (if all of the above together produce 10%)

    ...According to Cramer, the bears are preparing for a 3% drop in the markets if the Republicans don't sweep both houses of Congress, a 5% drop if the Fed announces a big asset repurchase program, and another 2% drop if the unemployment level is still too high.

    But Cramer noted that much of these fears are already baked into stock prices, and once the markets are clear of these events, they may end up even rallying by Friday. He told investors to be prepared for both scenarios.

    so his investors have to be prepared both for both 10% drop and a rally all in the same week...
  3. nitro


    The initial target is 1142. Below that is anyones guess.

    You should start a new thread: "Which comes first, 1142 or 1250 SPX ?"

    That may seem unfair to the longs since 1250 is farther than 1142, but do you really believe it?
  4. Mods, could you fix my poll? I screwed up: the second entry in the poll (Oct low should be 116 NOT 113)
  5. I dunno. I don't care. I just want a decent downleg. [​IMG]
  6. i already have too many polls open...

    speaking of polls, as we all know tomorrow is Election day. it is important to vote, every vote counts, etc., etc..

    but deep inside we all know that the game is rigged and it makes zero difference which way one votes or if one even votes at all.

    Shortie's Public Service Announcement
  7. nitro


    LMAO :D

    I think I might borrow that one.
  8. i should not be posting on ET or operating a motor vehicle. just when i was about to complain about Mods not fixing my poll i realized that Oct low was indeed 113!!

    this market is running up so fast i can't keep up with the numbers.

    ATR is very low, MACD divergence, overbought: when is the big dump?

  9. Cramer was wrong about the election effect.
  10. [​IMG]

    the targets are still intact.
    #10     Nov 18, 2010