i happen to totally agree that the top took place this week. i will give it +1% at most next week but it won't go that high most likely. my own confidence is highly suspicious to me but i challenge the market to prove me wrong.
No, its simple, your recent calls have been terrible. Stop making excuses. There will be no 20% haircut, the recent "top calls" from you and others ( eg 1100, 1140, 1150, 1165, 1185 ) are actually more likely support points on any real drop. If you were an experienced successful trader you would understand that old resistance becomes support in many cases. Here's the facts buddy. If the market drops 20% eventually, it will be some time in the future after a series of obvious events that tell us the market is going down. Now is not the time to guess a crash so soon after the last one ( try researching the average number of years between market crashes ). And forget the "flash crash", it wasn't worth even considering. What you have persistantly posted is badly timed, losing trades that are of no use to anyone. Yes, you are smart enough to realize when you are in over your head and go to cash ( debateable though given you are supposably patient and still short AAPL ). And yes, you may have realized you are indeed a "bad gambler" buying triple bear ETFs on the idea you can pronounce a market top. ET has become a haven for truly absurd advice. Please knock it off and try to learn from others.
I beg to differ. If he's consistently posting badly losing trades, I will happily take the other side of each of those trades. More than useful, indeed...
Now that we have heard all the chest beating from the peanut gallery, lets get to some logic. Look at the futures and thats all you need to know. Small caps are weak, large caps are strong. If the Russell 2000 does not get above its last high then the market will not go any higher. We saw this in 2007 and so many times before where the small caps started struggling and then the entire market comes down with it. These charts are self-updating BTW...
If I was wasting your time, then you wouldnt be reading or commenting in this thread. There is an "ignore" feature that you choose purposely not to use. No matter what you say in regards to ignoring me or wasting your time, you still choose to read the thread. Obviously, I am not wasting your time as you look to threads like this for wisdom. I know human nature and that you might be saying one thing, but mean another. Thats ok. If thats your deal, thats your deal. However, to continue with the theme. We have no topped out. This chart is where we are right now. Keep in mind, this chart self-updates because I am the man. It wont self update if you post it. Just in my thread. If that ES falls off the shelf, then its a long way down from here.
This chart represents investment grade corporate debt. At the top you will see what is a head and shoulders. If this plays out, then we will see a market correction.
we read for the sheer comedy. as for why we click on the thread, sometimes people offer insightful views. it's just that you're not one of those people. one need only to read the "go to cash now" thread for hysterics.