Is S&P forming intermediate term double top?

[fly down]

Quote from Tsing Tao:

two pomos today.

This is probably a stupid question..what are pomos?

 

[Locutus]

Quote from fly down:

This is probably a stupid question..what are pomos?

You're not serious?

Edit: Yes it's a stupid question. Permanent Open Market Operations, google it.

 

[Tsing Tao]

Quote from fly down:

This is probably a stupid question..what are pomos?

essentially the fed paying the primary dealers for debt auctioned off quite recently (in some cases last week). the pd's take this money and usually gun the market with it.

and yes, i have to agree, it's a stupid question.

 

[fly down]

Quote from Tsing Tao:

essentially the fed paying the primary dealers for debt auctioned off quite recently (in some cases last week). the pd's take this money and usually gun the market with it.

and yes, i have to agree, it's a stupid question.

Thank you for your answer to my stupid question mate.

I learned long ago that if you have a investment skill that works, it is counterproductive to overload your brain with even more info. Basically, if it ain't broke, don't fix it. Thus, I have zero understanding of bonds.

 

[Options_Noob]

Quote from Tsing Tao:

essentially the fed paying the primary dealers for debt auctioned off quite recently (in some cases last week). the pd's take this money and usually gun the market with it.

and yes, i have to agree, it's a stupid question.

As soon as the POMO closed today, the market shot up.

 

[fly down]

Quote from Locutus:

Yes it's a stupid question. Permanent Open Market Operations, google it.

This may be a stupid question, what's "google it" mean?

 

[nonlinear5]

You made 5 top calls so far. All 5 of them failed. The S&P is up 145 points since you started. Let's identify top #6.

Quote from fly down:

1. the S&P closed today @ 1104.18. I think there could be downside to 1000.

2. Maybe 1140-1150 tops. I just don't see it making it to 1200.

3. The S&P also has made a mini double top @ 1196. The rally is over.

4. I now believe the S&P tops out at 1200-1220 max.

5. 1238.5 at 12:50pm approx is the high

 

[Options_Noob]

Quote from fly down:

This may be a stupid question, what's "google it" mean?

http://lmgtfy.com/?q=POMO

 

[Locutus]

Quote from fly down:

This may be a stupid question, what's "google it" mean?

http://tinyurl.com/2emypx7

Quite curious what that "investment skill" is you referred to.

 

[Tsing Tao]

Quote from fly down:

Thank you for your answer to my stupid question mate.

I learned long ago that if you have a investment skill that works, it is counterproductive to overload your brain with even more info. Basically, if it ain't broke, don't fix it. Thus, I have zero understanding of bonds.

i get it, but in this environment, you need to understand the fed and everything it does. in my opinion, this is the reason so many who have "skills and systems" that have been proven have failed as of late - because the system no longer functions as it's supposed to when everything is manipulated by the fed. everything.