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Gold. It is the most logical choice among speculators to target as the best risk asset. It is the next bubble. The greatest benefit of gold is that it cannot be denied by fundamentals. If oil prices get too high, OPEC will be tempted to bring out more supply thus dampening the price...

The stress tests were a joke, but we are not the ones with the money, the people with the money determine the rules. They decided to put out an easy stress test and have CNBC tout it like it was some horribly harsh test and cheerlead the results. More importantly, traders were positioned...

Lack of traders in this forum. I still think there are a lot of traders out there. But they are probably less hyperactive as they were before. A lot of the excitement has been taken out of stock trading, there is less speculation and thus less spectacular moves in individual stocks.

One of the things I liked before about Elitetrader was that you could gauge the sentiment of the crowd by looking at the forums. But now, with the fewer posts, it is hard to tell. Also, all the stocks and commodities seem to move together, hard to find alpha in this market. For example...

I remember viewing the trading threads back in 2006, 2007, 2008 and they were lively with lots of activity but things have gotten a lot quieter in 2010. Are there that many fewer traders out there? Have they gone bust? Are the high frequency traders and the bots sucking the life out of...

Its a bad sign. No capitulation, just more hope of an oversold bounce. Its a bad sign to see this market sustain trade under 1060 for a sustained period. The market is accepting value around 1050 but the investors haven't accepted that fact.

Short the sucker's rally! The Europeans think that they can defend the euro, by printing more euros. The only way to defend the euro is to kick out the PIIGS from the EU and keep the core strong. AMPUTATION OR DEVALUATION. Can't avoid both. I will be shorting tonight, the sucker's...

This is going to fail unless the ECB prints a crapload of euros to buy up all this crap debt from the PIIGS like the Fed bought crap mortgages. If the ECB doesn't get involved, the market will just take down these PIIGS again after a day of short covering.

The Europeans are a bunch of clowns putting lipstick on the PIIGS. The only way the market will pay attention is if they chop off Greece, get rid of the gangrene with amputation. These piecemeal bailouts will not work. I would fade any moves above 1130. The emperor has no clothes...

I think we'll wake up to some deep red futures tomorrow morning, probably down below 1100. I would be very cautious buying the dip overnight. I think Europe will be a total mess tomorrow and that will scare everybody on a Friday morning where traders will look to reduce risk heading into the...

Just by the Fed massively increasing M2 money supply, that in itself tells you that there is more cash on the sidelines. Sure, its at the banks and not in retail investor accounts. But banks can buy stocks too!

Europe is closed on Monday due to Easter so volume will be lighter than normal.

Too many people are looking for a 3% correction. I don't think we get one until investors and traders are less cautious. People don't like to buy after the SPY is up 14 days in a row yet it doesn't go down!

That was Larry Levin. That guy has been wrong repeatedly. He was bearish 100 points ago, turned bullish a few days ago, and now he's calling for 1250.

Throughout this relentless rise, 14 straight up days in the SPY, there have been so many looking for the top that I think it will be elusive. We might really need to squeeze every last bear before this sucker goes down. It is very strong considering how many people are calling for a...

The guys who make the multi millions are guys like neke who are super aggressive and go for home runs. One of the interesting things I read from the book Market Wizards was that almost all the great traders who made huge sums of money blew up or nearly blew up early in their career. That...

If you go long at 1098.7, what is your target? The market closed around 1105. That's not many points. And 1098.7 is around yesterday's close. So this market is still very much overbought. Its amazing how people are so tempted to buy dips in this market, even those that are less than 10...

I think its generally agreed in TA circles that an inverted head and shoulders is bullish. A regular head and shoulders pattern is bearish....

Its pretty obvious that he's talking his position. And wants to sound like he has fundamental reasons for his call, so he'll come up with a bunch of reasons to support his current short term view, and ignore his previous bearish points. He's just market timing and trying to buy a dip and sell...

I have written an extensive piece about the recent overnight action that we have seen. I'm not sure how many ES traders trade the overnight session but I thought it might be of interest to those who do. My main point is that the reversals that we have seen in the overnight market are not that...