S&P 500 looking very toppy

Is the S&P 500 about out of gas?

  • Yes, rubberbird is usually correct

    Votes: 67 33.3%

  • No, there's more upside ahead

    Votes: 46 22.9%

  • I don't know/ I don't care/ the bird is an idiot

    Votes: 88 43.8%
  • Total voters
    201
Quote from spike500:

My money management is very simple: 2 points stop on every trade.
Stop moves to entry once we moved far enough in the right direction.

I hopes this answers your question. To be honest i don't understand what you mean. ( had to quite school at the age of 12 due to lack of intelligence :D )
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Spike:

I don't know if you remember but we had previously discussed the subject of increasing position size, something you were against because of your past experiences given the increased risk associated with growth.

What happened to me, is that once my acct went over 100K my risk grew as my acct grew. And obviously I paid the price for not having a good money mgmt system in place.

I just read a book titled "The Trading Game" by Ryan Jones.

In it, the author explains how one can
exponentially increase the size of your acct while at the same time DECREASING your risk.
It's beautiful and he makes it very easy to understand.

I am sure you could find it very helpful.

Cheers !
 
Quote from spike500:

No, short on the opening; problem was that i was not home the first two hours of trading, so i had to wait for an opportunity to short. We jumped up at 1233 so i went short there.
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Thanks, for answering, Spike ))

I have tried a lot of ideas, inspired by your thread "real or fake".
I think i have found something, that gives signals compared to signals that your system probably gives too.

As far as I understood the shortest time frame you use is 3min, I looking for stuff working in 1 minutes in ER2, because that contract really fast and 3 minutes in Euro.

Of course i have no 85% profitable trades still ;) But I like the win/loss that system potential can give..

But the weak of this system is that it it doesn't give almost any signals then the day is strictly trending from the open.. It doesn't gives signals right at the open if the move is direct and strong..

Is that normal for your system, or it's trying to catch all big moves usually ?

It' s pity but the trades you gave for one week a month ago, was right at rollover week and with e-signal i have no possibility to look carefully on that charts to research and try generate some more ideas :(

May I ask you to give examples for any other week for the last month ? I will be very appreciate. Anyways thank you very much, you already give us, who are looking a lot of valuable information

:cool:
 
BTW,
my system closed that short 1232.5 right an hour later from it's opening by the price 1229.75.

Giving nice entries, i strongly believe that I need to improve my exits. guess i should have more statistics to be done to know there the exit must be.
 
Quote from rubberbird:

For those of you who say the bird is off his rocker, gnaw on this feed.
The bird will be short the homebuilders overnight wednesday. Just for fun..
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OK. The S&P finally penetrated the 1225 level, and we'll see if that's resistance. But it did return too close to 1225 for the birds comfort. The bird did not envision it launching back to this level. Oh well.

I hope there are those who listened to the birds latest rant about homebuilders. Maybe the Bird called the top here! Obviously, whomever picks the ultimate homebuilder top wins the grand prize.
 
Quote from Samson77:

Make that TWO boots :)

Sorry I hate to see anyone lose $$$.
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What in blue hell are you talking about delilah? I'm making on this set of trades, granted only a penny or two, but i'm plus.

Don't be so quick to ass/ume, or you'll be placed in the ET hall of crap with the only other reigning member, the lithium kid.
 
Bought a bunch of 06 and 07 Tol puts this am, was forced to buy the stock as a hedge when Merrill upgraded, will probably hold until the August call and dump the stock and stick with the puts.

Should have just waited for the August call are originally intended but CEO selling with both hands spooked me.

Changed my ES stop to just above 1234.
 
Quote from Mvic:

Bought a bunch of 06 and 07 Tol puts this am, was forced to buy the stock as a hedge when Merrill upgraded, will probably hold until the August call and dump the stock and stick with the puts.

Should have just waited for the August call are originally intended but CEO selling with both hands spooked me.

Changed my ES stop to just above 1234.
More...

I looked at the chart of TOL. Where did you find any argument to short this stock?

About the ES: trend intraday is long i think
:confused:
 
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