How high can the S&P go?

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Quote from Pabst:



Wait a week bro. Then we break.
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October 3rd.

You can always tell a winning trader by the conviction of his ideas. I'm a believer.

How high will it get before that? I'm short 1075 puts. And I got a queasy stomach for any rally over 1040.
 
Quote from Romeo:

ps you're not related to dbphoenix, are you?
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No, I'm not.

The higher the level of the P/C Ratio, the more bearish investors are on the market. I think there is a strong consensus in the market that we must see a down move in the next few weeks.
If thus the majority assumes such a movement, it is unlikely to come.
 
Quote from RSPhoenix:



No, I'm not.

The higher the level of the P/C Ratio, the more bearish investors are on the market. I think there is a strong consensus in the market that we must see a down move in the next few weeks.
If thus the majority assumes such a movement, it is unlikely to come.
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The majority called for a rally in early april, and we got that.
 
Quote from Romeo:



I think we're basically talking short to intermediate term, definitely not into 2004.

Anyway, we have Oct. 3rd as a possible plunge date from Pabst. While I'm looking for the high for 2003 sometime in the next two weeks.
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Bingo!

I started this thread with a post, while the market was in full upswing, saying the max for the S&P was 1050. Oh boy was I right, and early.

Now, i'm wealthier.

And there are still some people who don't want me around here. People just don't like to hear great advice!
 
to congratulate me? Wow.

The preceding statement excludes Inandlong and Pabst.

The ET regulars should be embarrassed that they are such mice that they cannot acknowedge this very helpful thread. Disappointing.:(
 
Romeo,

Tremendous call!! I had my thumb up my ass all day, (luckily not long) convinced that the break would not start in earnest till next week. Oh well......
 
The bull is very much still alive (for the time being). I agree that we are all looking for a pullback sometime soon (October) however, I think with all of the economic data coming out this week (5 or 6 numbers tommorw!) it might be too soon to call the top. If the numbers are bad tommorow, watch out, however if the numbers are good I see no reason why we would not continue with the run upward. Any great run has its pauses, just as we have had this week.

I think the magic number of 10,000 and 2,000 are something to not forget.
 
Quote from Pabst:

Romeo,

Tremendous call!! I had my thumb up my ass all day, (luckily not long) convinced that the break would not start in earnest till next week. Oh well......
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Pabst,

You thought we'd go down in a major way. Just look at today as the beginning. You didn't miss anything. What you got today was confirmation that the market's on very wobbly legs. Just trade from here.
 
Quote from matt5555:

The bull is very much still alive (for the time being). I agree that we are all looking for a pullback sometime soon (October) however, I think with all of the economic data coming out this week (5 or 6 numbers tommorw!) it might be too soon to call the top. If the numbers are bad tommorow, watch out, however if the numbers are good I see no reason why we would not continue with the run upward. Any great run has its pauses, just as we have had this week.

I think the magic number of 10,000 and 2,000 are something to not forget.
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Remember those numbers, cause that's all they are...a memory.
 
Quote from Romeo:



Remember those numbers, cause that's all they are...a memory.
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Are you saying the numbers being released tommorw have no significance (if they are positive)?
 
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