How Far Is The Top?

How far is the top on SPY

  • 2%

    Votes: 1 4.5%

  • 5%

    Votes: 3 13.6%

  • 10%

    Votes: 2 9.1%

  • 20%

    Votes: 3 13.6%

  • 0%

    Votes: 3 13.6%

  • Skies the limit

    Votes: 8 36.4%

  • Prefer not to tell

    Votes: 2 9.1%
  • Total voters
    22
  • This poll will close: .
Quote from brokerboy:

i have always thought the top is when the small players go long and the other small plays busted on shorts.
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you forgot to add hedge funds. they are accredited black swan event makers.
 
Quote from Tsing Tao:

There's no telling how far the top is with Benny Bux and Robots running the show.
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i do not agree. There is a limit and is called confidence & trust in these people & money. If this goes then benny & co will stay out naked & in cold wheater.

They are pushing it. question is really where is that breaking point of confidence. They will not cross it, no matter what.

that is a big shorting point if it gets that far.

not there yet.
 
Quote from Covertibility:

Birinyi's past prediction (for 2008):

bweek122107_2.png
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Wasn't Lazlo Birinyi one of a troupe of Hungarian circus acrobats (until arthritis set in)? Tumbling, human pyramids, tight wires?
 
This is the kind of talk that is representative of bad trading.

You don't call tops and you don't call bottoms because any attempt is at best a guess on something that is impossible to do in a consistently basis.

Best you can do is react to price but this outright predictions got the markings of what not to do in the financial markets.

Short term prediction is doable long term is like spitting above your head, anything can happen.

FoN
 
Quote from FreakofNature:

This is the kind of talk that is representative of bad trading.

You don't call tops and you don't call bottoms because any attempt is at best a guess on something that is impossible to do in a consistently basis.

...
FoN
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i got burnt many times trying to call a top. i think the reason is that i don't have reliable methods for top calling and we had (and still are in(?)) one of the strongest bull markets ever.

if one has a good method then calling a top it is just another trade
 
Talking about tops, could someone help me understand why amazon is trading where it is trading? I do not see why it would be worth more than 225. If true, then why are people buying it at 215.50?
 
QQQ made new high today. Nobody talks about the significance, if any, of this for some reason. Is this as a sign of pessimism.

p.s. Nasdaq is NOT at new high (may explain the absence of excitement)
 
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