Is S&P forming intermediate term double top?

[fly down]

Quote from stepseazy:

I was thinking that the markets would go down right around now, but seeing the action these past couple weeks I'm thinking that we will have a rally the next few weeks. Traditionally these months are positive for the stock market. I do expect another significant retracement, but not right for a couple months.

I think the market is so ripe to fall going into next week. The next 3 weeks could have more volatility than people think. This could be a lucrative three weeks for smart traders.

 

[fly down]

I look for volatility to pick up this week and into mid-December.

There is alot of bullishness and that can only mean lower prices.

 

[jokepie]

Quote from fly down:

I think the market is so ripe to fall going into.

Fly,

One of the many things that has stopped me from entring/ exiting a trade is MY OWN BIAS of the market. I now just take a position if alls up/down and stay in until the time frame i work with says other wise. My google puts from last week are paying for the risk I took. I will be adding to my shorts today and tomorrow.

 

[fly down]

Quote from jokepie:

Fly,

One of the many things that has stopped me from entring/ exiting a trade is MY OWN BIAS of the market. I now just take a position if alls up/down and stay in until the time frame i work with says other wise. My google puts from last week are paying for the risk I took. I will be adding to my shorts today and tomorrow.

Thanks jokepie. I appreciate your input. Hey look at nflx today! I love watching that go up and up. Maybe they'll declare a split and the stock will jump to $250. Reminds me of diana, presstek, iomega etc etc. Anyone remember others I forgot on this list?

I am so sure the market will drop. But I have no confidence it will drop after 12/17 thru 12/31. So i'm thinking there will be some type of correction in the next few weeks. My indicators have ducks all lined up. I really believe there will be a few days of increased volatility and good downside action pre expiration friday.

We will see.

 

[Tsing Tao]

wow, that was one helluva buy up by hal9000. no news whatsoever, just double pomo day.

 

[jokepie]

Quote from fly down:

Thanks jokepie. I appreciate your input. Hey look at nflx today! I love watching that go up and up. Maybe they'll declare a split and the stock will jump to $250. Reminds me of diana, presstek, iomega etc etc. Anyone remember others I forgot on this list?

I am so sure the market will drop. But I have no confidence it will drop after 12/17 thru 12/31. So i'm thinking there will be some type of correction in the next few weeks. My indicators have ducks all lined up. I really believe there will be a few days of increased volatility and good downside action pre expiration friday.

We will see.

I have closed half of my shorts today, excellent opportunity to do than. Also, this closing strenght shows signs of trend exhaustion. We might reverse geras by the end of this week. May be Santa Rally will come.

 

[jokepie]

Quote from fly down:

Thanks jokepie. I appreciate your input. Hey look at nflx today! I love watching that go up and up. Maybe they'll declare a split and the stock will jump to $250. We will see.

One of the "jessie" moments is upon NFLX ( which we recently saw for GOOG and AAPL when they crossed 600 and 300) as it tched 200. ANY pull back to 195 area I am going to get some calls @210 JAN.

By the way, IF NFLX announce a split - i would actually short it after the split run. Splits usually are done by greedy insiders who push the envelope of valuations to pocket monies.

 

[kashirin]

Quote from Tsing Tao:

wow, that was one helluva buy up by hal9000. no news whatsoever, just double pomo day.

If not Europe/North Korea S&P 500 would be at 1300 now

still I believe record highs within 3 months with oil above 120

 

[failed_trad3r]

POMO beats korea + ireland.

Intermediate low has been made for a month or three.

Hope you guys bought the pullback, once above 1200 we won't look back.

 

[Nine_Ender]

Quote from Tsing Tao:

wow, that was one helluva buy up by hal9000. no news whatsoever, just double pomo day.

I believe today's recovery rally is in anticipation of continued strong US economic numbers later this week. People don't want to miss the end of year rally either, especially mutual fund managers who have underperformed the indexes all year by underutilizing their funds due to bearish sentiment ( people may have forgotten just how bearish things were earlier in the year ).

In Canada, I'm seeing even stronger technicals in anticipation of strong bank earnings later this week. Plus the whole idea that the US is recovering is far more important to Canada then the European issues. No pomo in Canada, just real strong corporate earnings and a rapidly improving economy.