I think the high on the $SPX a few days ago was it...

Cramer is ripping the bears apart.

He says charts are showing multiple sectors heading higher:

1. Retail

2. Restarants

3. Travel and leisure

4. Aerospace

5. Industrials

6. Autos

7. Transports

8. Healthcare

9. Defense

10. Financials


2007 here we come!!!

Says earnings season is going to be one darn good one.
 
Quote from afto:

Selling short at a market high is a bit like having unprotected sex with a hooker - high risk, low reward ;-)
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what goes in, must come out

with a splash:D
 
Quote from Blotto:

Isn't that strange? The ES falls just far enough at the open to trigger your short trade, and then promptly reverses to close it the high, 7 points up. I wonder why that could be?

Person to answer correctly wins a prize.
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Programs kicking in at 50ema on hourly.

What do I win? (please don't say a cookie ... had WAY too many of those lately)
 
Quote from Blotto:

Isn't that strange? The ES falls just far enough at the open to trigger your short trade, and then promptly reverses to close it the high, 7 points up. I wonder why that could be?

Person to answer correctly wins a prize.
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Thats why you are such a shitty trader and have to operate under multiple ids on here. I didnt say I was going short at that target. You just assumed I was doing that like you assume what price is going to do. I saw the roof as I outlined in my pictures previously. There is a reason why I put that line there so you know its there. Price got caught on the roof and bounced up sharply.

I still will not touch the ES, SPY or $SPX. I dont trust it. Every time we see these high poles there is a sharp reversal. I told you what to trust though and thats Palladium. In 2008, there was 430,000 ounces in surplus production. At that time the world's miners layed off a bunch of workers and closed up their Palladium mines. Today, they still have not hired everyone back and some of the mines remain shuttered. Guess how much Palladium is in the vaults over in England for the PALL etf? 430,000 ounces

Right now, PAL does not produce any Palladium. They have not mined any since 2008, but thats what makes the price of Palladium keep going up. They took offline 200-300,000 ounces of Palladium and the PALL etf is taking another untold ounces offline. Meanwhile, the auto manufacturers keep ramping. So at the end of this year, we are going to have a deficit of probably a million or so ounces of Palladium.

If you want my opinion, shut the fuck up with your multiple ids, get yourself an account and buy some PAL...buy some SWC. I called investor relations and PAL will be announcing this month that they re-opened the Palladium mine. Meanwhile, Palladium SPOT heads north of 600 and probably to multi-year highs. You have a double right there in PAL. If they are worth 4 and change without having produced Palladium in nearly 2 years, then how much will they be worth when they start selling 200-300,000 ounces at 600 per?

 
so why did you tell everyone you are shorting SPX and that the high was in? Lol, big ego, cannot admit you were wrong (and that several times already). Ouch must hurt to pursue a trading career with such ego and difficulties to admit you are wrong.

As a reminder, you also recommended AAPL shorts and were several times wrong. Attack me or others as much as you want, fact remains you were wrong and probabilities have it you remain wrong to look for shorts before markets confirm a turning point.

Good luck, my last response to you here, am also out of this joke thread of yours!!!


Quote from retaildaytrader:

Thats why you are such a shitty trader and have to operate under multiple ids on here. I didnt say I was going short at that target. You just assumed I was doing that like you assume what price is going to do. I saw the roof as I outlined in my pictures previously. There is a reason why I put that line there so you know its there. Price got caught on the roof and bounced up sharply.

I still will not touch the ES, SPY or $SPX. I dont trust it. Every time we see these high poles there is a sharp reversal. I told you what to trust though and thats Palladium. In 2008, there was 430,000 ounces in surplus production. At that time the world's miners layed off a bunch of workers and closed up their Palladium mines. Today, they still have not hired everyone back and some of the mines remain shuttered. Guess how much Palladium is in the vaults over in England for the PALL etf? 430,000 ounces

Right now, PAL does not produce any Palladium. They have not mined any since 2008, but thats what makes the price of Palladium keep going up. They took offline 200-300,000 ounces of Palladium and the PALL etf is taking another untold ounces offline. Meanwhile, the auto manufacturers keep ramping. So at the end of this year, we are going to have a deficit of probably a million or so ounces of Palladium.

If you want my opinion, shut the fuck up with your multiple ids, get yourself an account and buy some PAL...buy some SWC. I called investor relations and PAL will be announcing this month that they re-opened the Palladium mine. Meanwhile, Palladium SPOT heads north of 600 and probably to multi-year highs. You have a double right there in PAL. If they are worth 4 and change without having produced Palladium in nearly 2 years, then how much will they be worth when they start selling 200-300,000 ounces at 600 per?

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If you remember last time, I was right in January, but early. No one can predict the future with exact certainty, however, my model was telling me we reached the height of liquidity.

I guess that is difficult for you to understand how someone could suspect something based upon a model and be early to the call. I know that you come to this website looking for a guru and are frustrated that you cannot find one. My only suggestion is that you stop reading a website like this one because you cant find it here and that your time is better spent on creating high quality models like the ones I am involved in.

Right now, the ES is falling and my new target on the ES is 1139 for the short term.

I see some of you guys whine and cry about being banned from the system in the feedback section, but if you took the time to look, ask questions and really involve yourself in a post, like the Ammo guy, then you would not be banned from the site. If you asked simply "Now why do you see that?" or "How did you arrive at that?" and then analyze things empirically then maybe you would not get such hard profane responses from myself and you also would not be banned from the site. Try listening, discussing, feedback and using logic rather then tenth grade humor and rhetoric. When you try that, you will never be banned from a website again...just my two cents.

 
I would not be calling a top, if you do, mark my words, your going to be loosing money. This market is a machine right now, ask yourself this would you step in front of a large moving truck, thinking it would slow down because it sees you, the answer is NO. But the dips people
 
Here is something to think about. Across all indexes there is a certain line of resistance. This line is just a line, but a line none the less. Its mainly a psychological line.

We all look at these monitors countless hours studying every aspect of these charts. Sometimes it comes down to one simple line.

During the day when you are trading positions, price doesnt seem to get past a certain line and then retreats not to be seen back to that point for weeks or months. For example, LNG today and TASR in February. Those stocks both hit certain points in the past before making a major retreat. Why? Its because the collective bunch of traders was just following Mr. Livermores advice and wisdom of not trading the stock past a major high on the chart.

So I present to you one of the things Im looking at:

$INDU- In 2000 and 2005, price struggled to get past the current point. In 2000, it traded along that line for months before a breakdown. In 2005 it traded along that line for months before a break up.

$SPX- 1998, 2992, and 2004 are areas of commonality

$MID- In 2006, price reached 818.87 before making its pivot down. The high this time around was 814.92

$OEX- The underbelly of 2005...

You believe what you want to believe, but the theory of not getting past a major point on the chart is what I live by and has saved me on a number of occasions. Thats what I feel is going on right now. I dont believe its technical or fundamental, but psychological. There was no reason for TASR or LNG not to get past that last point. Its just that traders were afraid to take it higher...

As the market pulls back, traders will liquidate their positions in the majority of stocks so all will get hit except for a select few. I dont know how far it will pullback, but I suspect we will not get past the high of this week any time soon...it may take several months to get back to this point.

The downfall will be confirmed when the SPX or ES breaks past last weeks close (Fridays close) which it attempted to do today.

I saw Najarian on CNBC yesterday say that institutions were buying MBI in "large beefy chunks". It looks like those ""chunks" got vomitted up by the retail investors that got suckered in by that crap today.

The time to have been long was on February 4th. The indexes have increased, they are all hitting a certain resistance point and May is just around the corner. This is the perfect time for a huge correction with June or July being the bottom. So go to cash now, stop trading for a few weeks or even get short once the bottom falls out, but do not get long this market....

 
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