Hit new highs or crash?

[Bry]

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.

Oops. I realized that I am such a short-term trader, that my making any prediction like "3 weeks" is a no-no. I may become bearish in a day or two, or remain bullish for a long time. Only the market/the charts can tell us what to do.

I got the 3 weeks by trying to extrapolate the top on the layover chart that showed to similarities to the 1929 crash to the market today. Also, next jobs report in about 3 weeks.

 

[failed_trad3r]

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:

Finally some sense Wide Tailz. We are going DOWN.

A 100 point rally in two weeks? Call me crazy but this POS is gonna plunge

 

[badnewsbear]

Finally some sense Wide Tailz. We are going DOWN.

A 100 point rally in two weeks? Call me crazy but this POS is gonna plunge

Your name says everything about you.

 

[badnewsbear]

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!" : )

I added more to my position @20. It's going to the moon, and good luck with your sub par gain for this year. I will enjoy my 100%+ return as I did last year.

 

[Wide Tailz]

Your name says everything about you.

No contrary indicator is wrong 100% of the time. Even tradingjournals has a new model that has him batting .300

 

[badnewsbear]

Shorting a bull market - this is why polar bears are going extinct.

 

[Wide Tailz]

The panic is over for the short term, all next week is up. Long & Strong

Looks like this guess played out, but I doubted it mid week and sold longs then went short. Oops :eek:

State of the trendz:

 

[Wide Tailz]

I added more to my position @20. It's going to the moon, and good luck with your sub par gain for this year. I will enjoy my 100%+ return as I did last year.

It's amateurish to speculate like that.

 

[HeSaidSheSaid]

1) no sign for the bear market correction yet (40 to 60% type of correction). (it always shows up consistently since 1929).

2) generally, earning is ok. GDP is expected to grow about 2% for this year.

3) FED is being supportive.

4) institutions are buying (especially on last Thursday and Fri in the face of not so good news).

The difference between today market and yesteryear market is the media factor. It's double edge sword. it cuts both ways (up side and down side), as you know bad news travels fast!!! a little incident such as Bernanke checked into hospital due to irregular bowl movement or rectal examination could be an market event and sensationalized by media around the world!... Hollywoods has made us desensitized and bored.

 

[Wide Tailz]

Legendary investor George Soros has been stocking up on S&P 500 put options:

http://blogs.marketwatch.com/thetel...bet-on-the-sp-500-to-the-tune-of-1-3-billion/