I'm 75% short, $100K
- Thread starter newestmember
- Start date
A lot of indicators would suggest that this isn't a significant top.
Quote from waggie945:
LAST THURSDAY'S NEW HIGH, AND THIS IS NOT USUALLY HOW TOPS ARE MADE.
INITIAL RESISTANCE IS 1133 in the S&P.
ABOVE THIS LEVEL, IT IS A RUNAWAY TILL THE MARCH 2002 PEAK AT 1174.
SUPPORT FOR ANY SHORT-TERM PULLBACK CAN BE FOUND AT 1105.
Don't short a bull
The trend is your friend
etc
The trend is your friend
etc
Top pickers and Bottom pickers soon become cotton pickers!
Good luck in them cotton fields back home...
Quote from rtstrading:
Top pickers and Bottom pickers soon become cotton pickers!
Good luck in them cotton fields back home...
LOL I agree. I don't try to be first in but try darn hard not to be last out.
shorting Qs has been very hard. Fridays chart formation early afternoon was great for a short and we put on 150,000 shares and traded it down to the close. but - we covered .
trying to find tops has been death and I'm thinking it will continue to be hard.
I'm bearish as hell but need to continue making a living.
always plenty of time to short when times are right for shorting and we will have plenty of time for shorting and that time is coming - don't worry just be ready!!
best to see a massive one day 4-5% up move on OBL capture then this rally is finished for 4-5 years. Thats my story and I'm sticking to it.
I love America but I'm still convinced this is a very powerful BEAR MARKET RALLY.
Long Live the BEAR ---- GRRRRRRR......
trying to find tops has been death and I'm thinking it will continue to be hard.
I'm bearish as hell but need to continue making a living.
always plenty of time to short when times are right for shorting and we will have plenty of time for shorting and that time is coming - don't worry just be ready!!
best to see a massive one day 4-5% up move on OBL capture then this rally is finished for 4-5 years. Thats my story and I'm sticking to it.
I love America but I'm still convinced this is a very powerful BEAR MARKET RALLY.
Long Live the BEAR ---- GRRRRRRR......
How can anyone think we are in a Bear Rally?
gimme a break
The 50 day MA crossed the 200 day (on the SP 500) for the first time in 3 years, it crossed to the bearish side back in November 2000.
It re-crossed back bullish in June 2003.
Using this simple trend indicator would have provided major "bull" and "bear" clues and told you when short selling or all cash was favorable to stocks/mutual fund long positions.
"Bear rally?"
please
gimme a break
The 50 day MA crossed the 200 day (on the SP 500) for the first time in 3 years, it crossed to the bearish side back in November 2000.
It re-crossed back bullish in June 2003.
Using this simple trend indicator would have provided major "bull" and "bear" clues and told you when short selling or all cash was favorable to stocks/mutual fund long positions.
"Bear rally?"
please
a fool and his money will soon be parted. if your right congrats but i'm not babe ruth i don't call shots. a guy trading 2600 shares it trading only that much for a reason. i have to say i respect you at least having a stop out at 39.50. we ran into a few on these tops and broke out. each time we get to that point there is also a fool saying this is the top and shorting into it. at some point the market will sell off but i will never get the top i just hope to get a piece of the move.
in my opinion it might be wise to cover some at 37 - 36
as this market is really strong.
unless the major earnings wed - fri cause some panic selling
into monday am then we might go lower in the cubes
if the reverse scenario plays out ... there is a slight chance
for a ramp taking the nasdaq to 25K - 27K
by march 04 - april 04
as this market is really strong.
unless the major earnings wed - fri cause some panic selling
into monday am then we might go lower in the cubes
if the reverse scenario plays out ... there is a slight chance
for a ramp taking the nasdaq to 25K - 27K
by march 04 - april 04