Hit new highs or crash?

[tradingjournals]

Are there articles or explanations to this phenomenon: Two bad job reports, yet the market is up.

 

[badnewsbear]

Are there articles or explanations to this phenomenon: Two bad job reports, yet the market is up.

It's called weather. Get with the times.

 

[badnewsbear]

I too saw that 1929 crash chart overlay on another website, and am ready to respect it. I am also ready to respect if Fed manipulation will keep the market going higher.

Studying the charts daily will keep a smart technician on the right side of the market.

Much appreciation to the mature traders at www.elitetrader.com who share information to help other traders.

There is a key trend line at the lows of several days ago, which also corresponds with the S&P 150 day SMA. If those are breached, the bear is awakening.

Yet another simpleton appears.

 

[Tsing Tao]

It's called weather. Get with the times.

Has nothing to do with the weather. Sheesh. The market believes the Fed will back off tapering, or at the very least push out ZIRP even further. It's addicted to money printing. Anything that makes that go on longer keeps the party going longer.

 

[badnewsbear]

Has nothing to do with the weather. Sheesh. The market believes the Fed will back off tapering, or at the very least push out ZIRP even further. It's addicted to money printing. Anything that makes that go on longer keeps the party going longer.

Arguing trading is like arguing religion. I'm buying every dip, but go ahead and miss out. I'm so confident, I'm leveraged with options and I'm not using any hedges. This market is going to the moon.

 

[Scaleout.Scalper]

Another possibility is both, new highs and crash

 

[Bry]

Yet another simpleton appears.

I usually don't fight a battle of wits with an unarmed man, but in this case, due to his bloated ego-rudeness, I will make an exception:

"HEY, BADNEWSBEAR, HOW IS YOUR LONG DUST POSITION (that you entered at 28, see: http://elitetrader.com/vb/showthread.php?t=280803&page=10 )? I READ YOUR LATER POST THAT YOU JUST AVERAGED DOWN FOR MORE! HA HA! GOOD LUCK!" : )

 

[Wide Tailz]

I usually don't fight a battle of wits with an unarmed man

That's hilarious.

I've been accumulating puts for the last 2 dayz as the tape grinds higher and beginning to question my sanity. Might lose some fur if we don't get a pullback soon :eek:

 

[Bry]

Has nothing to do with the weather. Sheesh. The market believes the Fed will back off tapering, or at the very least push out ZIRP even further. It's addicted to money printing. Anything that makes that go on longer keeps the party going longer.

Plus we are still in a bull market; the market can shrug off bad news and keep going up. When the market shrugs off good news and keeps going down, well, that's not a bull market!

 

[Bry]

That's hilarious.

I've been accumulating puts for the last 2 dayz as the tape grinds higher and beginning to question my sanity. Might lose some fur if we don't get a pullback soon :eek:

Draw ur trend lines, and look out for candle formations, buddy. If a top does indeed occur, I would guess, at this point, that going short MIGHT be good in about 3 weeks. I am currently long a few stocks, not short anything.