Statistically speaking, we're due for a correction on the nas100. Only 6 down days in 2012? Am I counting this right? Then again, we had a run like that starting in Aug. 2010 which lasted until late Feb. 2011.
Statistical analysis like that never does work, but it is obvious a pullback is coming, just don't know when.
Feb 4 2012 GS whilst clearly referring to XAUUSD states: bone foolishly states: 'You are confused. I am referring to the next leg down, not a short term trade' Dude, I said it weeks ago and it bears repeating: I would expect a correction around 1370ish, but in terms of a "next leg down", please take another bong hit. bone aka www.spreadprofessor.com has made a serious error. He didn't realise I was referring to XAUUSD and misquoted me just like Nine_Ender Oh dear. bone aka www.spreadprofessor.com your paying clients deserve better commentary than this display of gross incompetence. I await your response with an apology.
Broke the 12,810 level on 2/3 but weak longs and short sellers are selling. Next time the Dow closes above 12,810 level is another buying opportunity. Good level to cover your shorts, add to long, or go long if you are on the sideline.
Just wanted to point "overbought" is a sign the market is about to decline and it did, but by the time the open came around there was basically no upside left in this "call", if you can call it that. Thinking the next pit stop is another 20-30 points lower on NQ, set a higher low, then resume breaching higher highs.
FWIW, I'm noticing a major uptick in implied volatility in back month puts on the indicies. Even with the minimal amount of downside today (relatively speaking), they are spiking AND they were spiking noticeably while the market was churning around the 1350 level (ES) yesterday.
Now go away, idiot. You let a spread trader who really could care less about timing markets call a flat price directional market for you. You and your dumbass reverse waterfall sliding megaphone patterns. You are much better at trolling than calling markets.
Overextended SP500 etc have topped at last ... http://stockmarket618.files.wordpress.com/2012/02/2012-02-18_sp500_wk3.png
If you keep saying it twice every day for three months, it will eventually become true. I find nothing particularly worthy in terms of your tradecraft skills, and your technical analysis skills quite frankly suck. If we close down for the day, please declare victory and stop embarassing yourself. My advice is to create another user name and refresh your credibility that way.