S&P 500 looking very toppy

[rubberbird]

Quote from EqtTrdr:

hello?


check 1.2... is this mic on?

is this an attempt at humor? oh.

your point?

 

[syrre]

I am short in ES from 1212 and 1212.50

 

[brokerboy]

It’s amazing how hard they make it to stay short. When this market sells off again it will happen very fast. This is the major problem of stock trading because it’s not so easy to get back in the short position. I am watching some short sellers sell all day today. I am not sure if the long buyers are so dumb they don’t notice or if the short sellers are so cocky that they plan to sell the stock down. Yesterday did not shock me but today does. 40 points in S&P futures in 2 days WOW on a attack

 

[easyrider]

I cant remember the last time I saw ES run up to 12:30 without ever dipping to the 20ema. I got a bit early this morning but missed the rest because I find it hard to believe my eyes.

p.s. there is something funny about this move. Would not be suprized to see a sharp sell off later.

 

[brokerboy]

I think some people had to blow up. I don't think the numbers today were that great.

 

[ssternlight]

You'd think the newsie's would look at a day like today and scratch their heads. I mean what is the rationale behind today's move? Of course, news reports that the market is heavily gamed might not sit well with John Q Public. Well, as they say in So Cal...whatever.

 

[syrre]

Double at 1214, a bit scared, buys 511, sells 611 :eek:

 

[areyoukidding?]

Hindsight is 20-20 but you have a plethora or reasons why we are ripping.

1.) Bulls are emboldened. If the market can handle a terrorist attack, it can handle anything.

2.) A scarcity of sellers they all puked out yesterday.

3.) A lot of people selling short, "the market has to go down, this is terrorism"

b.) Crappy employment number its got to go lower now.

4.) why not, buying the dip has worked all year.

 

[areyoukidding?]

incredible stuff today.

 

[Bowgett]

Yup. Some shorts got smacked pretty hard today.