The S&P has topped !

Now I do not feel so bad selling FEB calls on my long SPY positions friday

 

yes, this little drop is likely an opportunity to get long.

 

Maybe Steve Jobs cracks this rally...


Poetic almost.... Steve Jobs vs the Fed...... The markets white knights....



I have major respect for jobs, I hope all is well on his front.......

 

i consider AAPL news an important test of this bull market. AAPL is a great company but not without flaws (e.g. huge dependence on CEO's image/health). Many hot stocks are in similar situation where dangers (not necessarily the same as for AAPL) of owning them are ignored while the bull party lasts. at some point people will start wondering into what kind of promises they are invested in.

 

told ya

drop has been recovered

 

Guys, we're here. This is (near the) top. Short or sell now, you can't lose. And just for your amusement:

http://www.cmavision.com/market-data

Look who is #1 today! Wait until they tell the public about this chart on CNBC. I betcha' that when we're near the bottom of the correction they're gonna bring this out and be all doom and gloom. That's when you buy back. All righty?

 

+60 for the last 5 fucking hours on the DOW!!!!!!

 

1. We admitted we were powerless over alcohol - that our lives had become unmanageable.

2. Came to believe that a Power greater than ourselves could restore us to sanity.

3. Made a decision to turn our will and our lives over to the care of God as we understood Him.

4. Made a searching and fearless moral inventory of ourselves.

5. Admitted to God, to ourselves and to another human being the exact nature of our wrongs.

6. Were entirely ready to have God remove all these defects of character.

7. Humbly asked Him to remove our shortcomings.

8. Made a list of all persons we had harmed, and became willing to make amends to them all.

9. Made direct amends to such people wherever possible, except when to do so would injure them or others.

10. Continued to take personal inventory and when we were wrong promptly admitted it.

11. Sought through prayer and meditation to improve our conscious contact with God as we understood Him, praying only for knowledge of His will for us and the power to carry that out.

12. Having had a spiritual awakening as the result of these steps, we tried to carry this message to alcoholics and to practice these principles in all our affairs.

 

I am long AAPL -- I think the P/E is still very low. It is 4% of my portfolio, so the volatility does not scare me.

 

Market looks overbought and tired.