The S&P 500 bottomed today on 12/20/18

Discussion in 'Trading' started by volente_00, Dec 20, 2018.

Did the S&P 500 bottom at 2441 ?

  1. Yes

    3 vote(s)
    6.3%
  2. No

    27 vote(s)
    56.3%
  3. You're still an idiot

    13 vote(s)
    27.1%
  4. Who cares, I'm still long waiting for destiero's 2725 touch

    5 vote(s)
    10.4%
  1. I say the bottom is in on the S&P 500 at 2441

    We will bounce 200 handles from here
     
    Buy1Sell2 likes this.
  2. Usually bottoms are frantic selling with A TON of news coverage. I usually get a few facebook messages from my buddies who were long some stocks and are not to sure what to do. I don't see any of that right now. I say we got another 5%- 10% to go :)
     
    Spooz Top 2 and murray t turtle like this.
  3. prc117f

    prc117f

    Friday ex dividend on SPY holders. I saw SPY crack 245 bounce up a bit. Lets see, hopefully More selloff Friday.
     
  4. lindq

    lindq

    The next small leg down will have thousands of ETF investors calling Vanguard and Fidelity to sell their positions. They're already sweating from having a flat year, and it won't take much more to push them into the fear zone.

    When that happens, the bottom may be a long way down.
     
  5. What's your rationale?

    You first called a bottom here at 2750.

    Then a bottom on Monday:

    And I think maybe a few others also. :)

    Eventually, you will be right. Personally, I think we have more downside left as the momentum remains strong on the down side for now. I also think it's unnecessary to try and pick a bottom. One can wait and let the market show it's hands first. Right now, I don't see any bottom.

    A 50 point up swing is peanuts in this environment. We're also down 30 points on that one now and there's an hour left to the close.

    I think these type of calls have a lot more value if one can offer the analysis backing it.

    PS: I did chuckle at the fourth vote alternative. ;)
     
  6. S2007S

    S2007S

    Nope no even close!
    S$p will be breaking below 2400 soon...yes there will be a bounce in the short term but the bottom is not in, expect a drop below 2000 in 2019!!!!
     
    Humble Investor likes this.
  7. S2007S

    S2007S


    I know a few people that maxed out their contributions in 2018 at $24,500....they started putting money in funds in the last decade. Yes they are up substantially with this last bull market taking place however they have never witnessed a bear market before. I told them to get ready for it because they are going to see a 1/3 of their portfolio gone within a year!
     
  8. Ayn Rand

    Ayn Rand

    Something odd is going on here.

    There is a vested interest in keeping prices high. Most are compensated in part as a % of assets under management. We are getting close to the end of a quarter.

    Couple this with mark to market - where a little can make a big difference. Meaning there should be more support.

    Usually a market will implode when several or one especially large very highly leverage position goes under. No news on this.

    Perhaps we are getting a lot of margin calls and stops being shot out.

    I do not know how to put the whole story together but the decline in oil prices is perhaps the primary force in pushing stock prices lower. There has to be a lot of exposure to loans tied to oil prices.

    Certainly exciting.

    Big time Kudos to those that held a short position for an extended period of time. Most of us were conditioned for a reversal.

    The only thing that saved me was that I never keep much in my trading account. I would have shot the wad.
     
    tommcginnis and murray t turtle like this.
  9. When are you just gonna close your losing trades and look for new trades?
     
    murray t turtle likes this.
  10. I thought that was odd also.
    Even though i view falling oil better than a tax cut , unless one runs an oil co with lots of debt; but oil sure went down in 2008 .Even though i never though there was much of a correlation-oil has no earnings .

    What really seemed odd,+ i liked the guy. But closing the markets saying it was for Pres Bush seemed like an attempted prop up+ which did not work.IF i was daytrader,i might do a buy on DEC31, with good buy volume+ price above 200dma. BUT OCT + Nov last day had such bad buy volume, in QQQ i'm not hopeful for a reversal now.
    The good news is the media is till talking about intraday highs; but failing to mention most funds price @ close..........................................................................:cool::cool:
     
    #10     Dec 20, 2018