You said that at many lower levels and we rallied off the retracements, some of which were more pronounced. You are literally insane. You have no credibility left you make S2007S look like a genius. Ironically, in your previous post you acknowledged the role of option expiry in the 1-2 day drop. However, you seem oblivious to the STRENGTH in the charts of financial stocks and the STRENGTH in earnings in technology. If you think those two sectors are going to correct you are mistaken ( no surprise though, you make being wrong an art form buddy ). If this retracement is entirely options related, we'll rally on Monday. This is textbook. If the resources continue correcting, we'll have a choppy mixed market for 1-2 months. There will be no sizeable correction as you predict before late April ( minimum ), which means you will have plenty more bad calls to go. Or you could just go away, and make this trading forum a more intelligent place to be.
Ok, let us know specifically your exact trade that you have made to profit from your prediction. You seem to think this is a slam dunk win let's see how you do. Maybe you can recoup some of the huge losses you had last quarter 2010 ( I doubt you'll admit to them but your broker surely knows ).
Buying the S&P 1100 calls was a much better trade. I know, I know, that would have meant trading against your permabear bias that has been owned nonstop for 5 months.
I think trading the index is just guessing right now, play it by sector. I like Financials long and any Technology with a modest P/E. I also am looking at some shorts in overbought resources but I failed to pull the trigger on that trade last week ( I recommended earlier shorting metals for the second week in January into expiry week ).
You were saying? The 'dip' is now already looking like a distant memory! Bulls are in complete control. The drop was just a chance to get additional longs on for the inevitable bounce/rally.
maybe theres a new top he'll tell us about in a few days. a grand supreme poobah top. of course for a top to truly be a top, it has to be re-tested, right?