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Well said. But far too many people here on ET are running around listening to a TON of NOISE to know the difference.

I would imagine that with the HUGE short-interest in the S&P, there could very well be some big-time "collars" at some strikes slightly above the market.

Not sure what you are trying to say . . . I got long near the lows of today's session when I saw the SPX approach the 40 WEEK MA at 1452.28 I take it that you are not a student of simple technical analysis?

Got within 2 points of the 40 WEEK MA in the SPX this morning ( 1452.28 ). Close enough for a double-bottom intraday in the ES and subsequent 24 handle rallly! :)

Double bottom intra-day in the ES then sets up a 23 point rally to the upside. How can one not make money on a day like today?

SPX got within 2 points of the 40 week MA this morning . . . Good enough for "government" work. Month end buying starting early. :D

Comanche, Any "color" from the Nat-Gas pit today? Thanks. :)

Agreed, but I wouldn't necessarily apply to your theory that the big institutions will "scale" throughout the day with small orders at random times. If the liquidity is there, they will put on their position, especially if it is an asset-allocator ( ie. First Quadrant ) and they are taking a...

You obviously don't get it. Not all systems ( let alone asset-allocators ) react on an hourly or daily basis. Their time horizon is much different than that of a "daytrader". For example, take a look at First Quadrant down in Pasadena. They manage $28 billion. And trust me when I tell...

You should take a look at the nat-gas drillers and nat-gas stocks today. Nat is +5%. The group is moving. PTEN is about as liquid as you can get, and CHK isn't bad either. :)

No discernable trend today? You've got to be kidding.

There are tons of funds that trade off of mechanical systems. The close that you saw in the last 30 minutes of trading in the S&P is pretty reflective of a marketplace that is aware of this fact, AND that such a WEEKLY close would generate a lot of sell orders come Monday morning. Moreover...

I did start a thread back on July 9th that used Elliott Wave to come up with a projected target of the end of this 5-wave advance at 1559.09 SPX. As you all know, we got within 3.19 points of that with a print high of 1555.90 I stopped posting on the thread on Friday, July 20th because no...

You sound a lot like that moron that goes by the name of Rcanfiel . . . If you are not, then I apologize. The bottomline is that anyone that has ever traded for a living from the floor of a commodity pit KNOWS how markets react when they catch a strong "bid" and make new highs . . . they...

Thanks Pabst. Yes, I noticed the exact same thing withthe ZN and its less than dramatic reaction.

I believe that YOU were the gentleman that was "cheerleading" this market to higher targets, and were doing so without any technical analysis basis whatsoever. Let's face it. There are maybe a handful of "technicians" that post on ET, and most of them don't even bother doing anything more...

Your reading comprehension is quite lacking. Perhaps you should try enrolling in an ESL course? I did not post this past week on my Elliott Wave thread. My last post was Friday, July 20th, and I stated that the SPX needed a Weekly close back above 1540. Show me where I stated otherwise...

Yes, I called for a target top at 1559.09 SPX. Furthermore, I did so AHEAD OF TIME when the SPX was trading at 1530 on July 9th and stuck with that prediction two days later when the SPX dipped down to 1506.10 intra-day. As it turns out, the SPX peaked at 1555.90 on July 16th - - - just...

What's embarrassing is someone like yourself having called 9 out of the last 5 intermediate market tops. As someone posted earlier, you've been calling for one "intermediate" top after another since SPX 1150. You need to look up the word "intermediate" in the Dictionary. You might learn...

You need to try doing your OWN homework instead of merely listening to what "others" believe to be applicable. For example, the P/E of the S&P 500 currently is nowhere near where it was in 2000. http://www.comstockfunds.com/files/NLPP00000/026.pdf Furthermore, whether or not this leg...