Are we close to a top?

So ya'll are saying because everyone expects a correction, there won't be one because of the "majority get screwed" law.

Interesting.

I still put more faith in price action though. We ain't see such hesitation in the face of such positive news since the rally's commenced in July. Imagine the downside monstrosity that would be if it was negative news.
 
Quote from ksonsinc:

Well majority of the people are looking to short now or are already short
The market goes the direction where it can screw the most people
To be bullish right now is very hard All the stock are up atleast %100 to %200
It has to go down but how hight it is going to go before it fall like - 300 to - 400 point in the dow to create panic no one know
I know big hedge fund who are taking short position like %20 percent when they should be going in %50 and if the maret goes higher they will add to their position
Like i am buying faz
i buy 25 shares at $23
i have a order to buy 25 shares at $20
I have a order to buy 25 shares at $15
But i am not going 100 shares long at $23.00 cause it august and the market can go any direction
This is just a eg
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Have you had success buying and holding the 3x ETFs before?
All I've heard is horror stories from people who did anything but daytrade them.
 
just another worthless opinion but ... I think a majority of the shorts have had to cover helping to fuel this uptrend. I think that the bulls are dug in pretty good. But I also am seeing this up trend running out of steam. Like always if a small reversal starts to the downside it could easily gain some good momentum as stops start to get hit. We all know how fast the market can change moods. I started going short last week. and added some monday. The truth of the matter is this. I think that the biggest mistake new traders make is taking counter trend trades. It will kick your ass most of the time. I am being very cautious. I have the feeling that there will be at least one last big push before the near term top gets put in. Best to wait for confirmation. There could still be some "late" big money waiting to buy the next pullback. so if you are short take profits on some. I will be ready to load up when the time comes. LOOK OUT BELOW


Good Trading All
 
Quote from Jym:

Have you had success buying and holding the 3x ETFs before?
All I've heard is horror stories from people who did anything but daytrade them.
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Options on them can skyrocket.

I lost a 100% in a matter of days.

And I agree with nasdaqmadness, I also see an upside move before the final correction.
 
thought I would comment that my current short positions and I will also add to them are TWM ultra short russell, FXP ultra short China, DIA, SPY and AAPL.


Have Fun
 
Quote from nasdaqmadness:

thought I would comment that my current short positions and I will also add to them are TWM ultra short russell, FXP ultra short China, DIA, SPY and AAPL.


Have Fun
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Good luck man! You got balls. I'll wait for some confirmation, whether news, price action or preferably both.
 
Quote from Gubinec:

Options on them can skyrocket.

I lost a 100% in a matter of days.

And I agree with nasdaqmadness, I also see an upside move before the final correction.
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I've ended up giving a decent bit back the past couple of months but I made a damn good return riding up FAZ puts from end of March until June or so

they seem to go down a whole hell of a lot faster and easier than they go up
 
Any number of things could happen but I'm staying in a long bias all the way. Take profits and re-enter at better prices or staying out of it entirely. I haven't had a short stock order executed since late last year.
 
The overall market was weak, the Major Drugs as a Group was very strong. This is a strong indication of Hedge and mutual funds rotating into this Group. In this case, they are also trading opposite to the overall market. When this pattern is recognized, one can quickly identify strong stocks within a Group and ride the strength. These patterns repeat over and over again. Inn the futre, you should be able to identify such patterns and take advantage them.

broker comparison
 
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