Quote from illiquid:
The real point is, why close yourself off to one side of the market? If you've got this big bet you've made declared to the whole world, obviously it's going to hamper you on taking any long side setups; meanwhile you will have to hold out for your home run short to play out (I dunno, maybe you've taken some temporary or partial profits on the last dip, we've bounced nearly 40 pts since) -- all or nothing, in other words.
And like others have mentioned, once that meaningless new high gets triggered again . . . *shrug*. Nobody knows what you're really doing in your account behind the scenes, but the sad thing is that posting a thread like this will only do harm to your account if you're being honest, while you really get nothing out of it if you turn out to be right.
boy, you're jumping to conclusions
who said anything about taking no long side bets? In ANY market, up or down, there will be long and short positions during the week
here's what I said on page 3 (depending on the size of your ignore list)
"as i said in another post, i think the easy guess is a drop to the 200 month moving avg at spx 1019 to test support, from there it';s anyone's guess
after that it could ping pong between the 200 and the now lower 20 month (about 1042)" <---typo, the 20 month spx moving average is 1053 (and by the way, that's exactly what's happened, the market closed within a point of that today, at 1053.48)
do you interpret that as my saying 'take no more long side bets from now on?'
like i said earlier in this thread, it's a parlor game - on why that was or wasnt the top
it was an invitation to post technical analysis of people's opinions on this particular point in time
some people dont believe in doing that sort of thing and to those people I say YOU DONT HAVE TO COME HERE AND TELL US THAT! WE ALREADY UNDERSTAND THAT MANY PEOPLE FEEL THAT WAY! SIMPLY IGNORING THE THREAD WILL DO!
(I feel like a dispatcher in a town with a car accident and 3 cop cars already on the scene explaining to the 90th dumbshit calling in on his cell phone that it's already been reported)
