The S&P has topped !

Discussion in 'Trading' started by fly down, Jan 4, 2011.

Has the S&P topped and headed for a sharp correction?

  1. yes

    58 vote(s)
    30.5%
  2. no

    59 vote(s)
    31.1%
  3. I don't know / I don't care / I don't like you

    73 vote(s)
    38.4%
  1. Locutus

    Locutus

    Right. This'll be my one and only top call. The top is between now and 15 points on the S&P (so it will top out b4 1305). I really hate making top calls also because you can't predict trend ends that well and sometimes there's a little crazy "pop" at the end to really drive the permabears insane, but taking into account the pop possibility it won't be long now. All the signs I want are there.

    I'll convert and buy a dip if it goes over 1305 ;)
     
    #131     Jan 14, 2011

  2. Longs saved by the bell: Monday is a holiday! Lucky bastards!
     
    #132     Jan 14, 2011
  3. noddyboy

    noddyboy

    You only just discovered?
     
    #133     Jan 14, 2011
  4. Tsing Tao

    Tsing Tao

    1293. new top. only a mere 23 points from the OPs opening top call.
     
    #134     Jan 14, 2011
  5. roncer

    roncer

    I expect a high on Thursday.

    :D
     
    #135     Jan 14, 2011
  6. Nine_Ender

    Nine_Ender

    Market would be higher except metals sold off a lot for several days. My whole theme recently has been on sector rotation into large cap financials and technologies, and this is exactly what occurred today. I'll add Oil to this mix given its seasonal now.

    We'll get continued strength in these sectors so the question is how badly will risk assets like materials and small caps sell off.
    I do believe we'll get a pop up on Wednesday due to IBM/Google/Apple earnings. There are plenty of buyers out there for QUALITY assets.

    It almost doesn't matter what the indexes are. Simply buy the correct sectors and investment type ( eg large cap dividend paying, strong earnings companies ). You'll do well long. Those speculators investing in high risk juniors etc probably got dinged this month. Are they done retracing, impossible to know. You could hedge your bets and take longs AND shorts.

    To me this is a VERY healthy market now, tons of divergence, plenty of opportunities to make money ( even short if you pick right levels in certain sectors ). Shorting the index is actually counterproductive, you have many quality stocks working against you. IBM/Google/Apple are going to crush earnings, Banks are finally getting some respect. Why bet against these trends ?
     
    #136     Jan 14, 2011
  7. overnight rate is 0%.

    there is no profit taking at all...nobody is taking profits. since there is no profits to take..it's mostly short covering buying this market.

    your risk losing long or short in this market conjuction. these market makers can make the market whatever they want.


    the market or 'game' is fixed..ther is no free market anymore.


     
    #137     Jan 14, 2011
  8. roncer

    roncer

    Yes a strong good market but it tops and pulls back about once a week................and I expect we start another little pullback on Thursday. So I will be looking to cover my longs and maybe go short for a couple of days or so.
     
    #138     Jan 14, 2011
  9. is there any strong, strong sell-off in sight? or possible news that might trigger one?
     
    #139     Jan 14, 2011
  10. Any day now we are going to capitulate to the upside
     
    #140     Jan 14, 2011