The S&P has topped !

Discussion in 'Trading' started by formal gold, Jan 10, 2012.

Has the S&P topped out around 1290-1300 ?

  1. yes

    25 vote(s)
    29.1%
  2. no

    37 vote(s)
    43.0%
  3. oh geez / I don't know

    24 vote(s)
    27.9%
  1. I keep reading about the new S&P high today which will generate more buying lol !!

    No, the S&P has topped right around here 1290-1300.

    It's going lower, the bull market run is over. And that's no bull.
     
  2. What is your position, stop and target if any?
     
  3. Thank you for the question.

    My position is what I stated. unless I misunderstand your question.

    My stop? Not the way I trade. but I will consider myself wrong if the S&P goes over 1300 and stays there thru the end of January.

    Target? much lower, but let's start with 1250 and when it hits there, i'll have a new target.
     
  4. I meant where did you initiate your position? I'm short from 1286.75 SL 1292 Targeting 1166 or better.

    Will re enter once more around 1300 or better if I have to.

    After that , any more attempts and i'll have to create another username:)
     
  5. so you sold 1300 calls bird ?


    Time to load up long now



    :p
     
  6. bc1

    bc1

    As of my post there are 6 yes, 6 no, and 5 don't know. Today's rise came from the futures which caused it to gap up. Otherwise trading has been relatively flat the last few days. Not enough bulls to get it much past 1300 but I think we are sideways to slightly bullish till the 26th fed report and there aren't enough short sellers yet to drive the market down as they are worried the fed may step in with some limited QE, IMHO.
     
  7. Calling tops in a Presidential election year is hazardous to your wealth, such as it may be. Remember the immortal words of Ed Hart: "The most reliable economic cycle is the four-year Presidential election cycle."
     
  8. THE SHORTERS HAVE BEEN DRIVING THE MARKET *UP*
    Do you understand how ?

     
  9. TILT2

    TILT2

    My only concern is that would a guy from Fed read this forum and change their trading strategy?
     
  10. The sp future don't seemed a big gap down today (1/11) even the big rally yesterday.

    My take for this is it will whipsaw today or even end up another up day.

    Prepare for a big rally again tomorrow !!!!!! :D
     
    #10     Jan 11, 2012