Are we close to a top?

[Bakinec]

China down 6.5%.

If Gann were alive today, he would say that today is a turning point for the S&P (and ES).

Next Support - 975.

Bounce up to about 1015.

And all hell breaks loose.

Just MO, of course.

 

[S2007S]

This morning is a buying opportunitiy, buy the early morning dip and sell mid day when they push the markets green, no need to worry about china being down 5%+, arent they in a bear market now, I thought China was going to pull the global economy out of a recession.....just keep buying stocks, buy anything you can, buy every pullback especially in the emerging markets.

 

[nasdaqmadness]

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 [/QUOTE

Fun day today.

covered all shorts but will get short again asap.

Good trading All

 

[piezoe]

Quote from ammo:

we need another bubble to continue this tarp rally, wont be techs, wont be real estate, wont be unemployed pumpimg legalized poker machiines, whatever it is , the banks will have to fund it , i dont see them letting go of any cash, they need it for the commercial real estate dump comin down the pike. At best we have a pullback to 950 and build a base, then this rally might fool most of the people most of the time, right now its still a knockout 10 1/2 trannie (sal's words)

My banker friends are saying they have plenty to loan but no one is coming in to ask for it.

 

[stock_trad3r]

the market will finally top when people stop asking where the top is.

 

[Bakinec]

Looks like I was correct. Maybe not.

This week will tell, but I'm buying Nov 95 Spy puts anyways tomorrow.

Quote from Gubinec:

Just in case someone missed my masterpiece

 

[matgallis]

from the top to the bottom we're sitting at the 61% fib level from a weekly view...

 

[opuschild]

I think we should be topping out in this quarter. Economic problems should come home to roast by quarter three. If earnings season isn't the catalyst, swine flu, high crude oil prices, a weak dollar, or massive prime mortgage and deft defaults could send us back down until sometime in 2010.

It is interesting to see what everyone is thinking here. On another site that I use more often, I started forming my personal views, only most of the commenters on the other site were looking at the market technically speaking Here is the thread link for that one:

http://www.freetradingvideos.com/forum/forum_posts.asp?TID=2607

 

[Thalamus09]

The futures are attempting to take out the days' lows anytime now. Should be a good gap fill in the morning and the start of the next short term leg down.

 

[Bear Plunger]

Quote from Thalamus09:

The futures are attempting to take out the days' lows anytime now. Should be a good gap fill in the morning and the start of the next short term leg down.

But the key is, is that short term leg down going to get bought.

This is the most sketch market ever.