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 rubberbird:

Hey Lithium, the last time you posted a chart like this saying the S&P would rocket up, it dropped over 50 points. I SHORTED 2 hours before you posted this on friday and finished the day 10 points up exiting about 4 pm EDT. I'll be looking for another place to short soon, hoping you will repeat your last bumbling prediction with as much vigor. You and Elliott need to pack your drug bottles and go on a search to find E.T. and his glowing finger.

Rubberbird, I enjoy some of your posts and your calls are relatively accurate but please do not plagiarize my posts and call them your own. Even if it to poke fun at the "drug induced stupor".
 
Went all in and have accumulated 1000 Tol puts (50 and 47.5 strikes various months 05,Jan 06,Jan 07) in the last week. If I am right my year is made, if not I am back to where I was in Jan. Les jeux son fait mes amis!
 
Quote from Mvic:

Went all in and have accumulated 1000 Tol puts (50 and 47.5 strikes various months 05,Jan 06,Jan 07) in the last week. If I am right my year is made, if not I am back to where I was in Jan. Les jeux son fait mes amis!

Hmmm, balsy move. What made you go all in and what puts did you buy? The divergences?

As for me I am still waiting for a signal to get out of my QQQQ calls but haven't gotten it yet.

Best ...
 
It was the Bird's call of course :D

Seriously, there have been a lot of little things that I have been looking at where Tol is concerned for about the last year and finally some of them are starting to break down. I know I may be early by a quarter but the insider selling has been fast and furious which prompted my early entry.

My position is heavily weighted in the Jan 06 50 Puts.

I should mention also that I plan to go long some August Calls to ease any pain from a pop on earnings and also plan to sell near term calls if we hit $60 rather than stop out on the Puts. Buying the stock as a swing or day trade is also something that I have been doing trading around the position (has paid for about 100 of the calls so far).

My style is to start every year with $100K make big directional bets and try and manage the position so that if I am wrong I lose as little as possible (sometimes I even make a little even if I am wrong). If I am right I clean up. I have had some very good years (several hundred % to 1000%), mostly mediocre years between 50-200%, and a couple of very bad years (max loss $150K) though thankfully they are getting rarer.

Good luck with your QQQQs.
 
BB I think you are right about the 55's, too late to switch now, lose too much on the spread. I am looking for a 7-9 point drop from current levels in the next few months to take out my stake, hoping for more by the end of the year.
 
rubberbird
Registered: Apr 2004Posts: 599 06-23-05 11:09 PM

Quote from coolweb:the bird is a hawk.Spectacular call, Do you trade futures? stocks? Thanks coolweb, and thanks Ed Berk for the nice words. It looks as though not everyone agrees that i'm a hawk as 40%+ say i'm an idiot according to the above poll. Thankfully, I have thick skin, and I love playing the wrestling villian, so the name calling doesn't affect me at all.I trade mostly stocks and options. I'm usually a seller. I'm always an option seller (of premium). My world works in reverse than the normal buy and hold people, but so far it's served me well.I don't trade futures (anymore). If I think the market is going down, i'll find the specific stocks rather than just selling the whole market. Hope this helps!

Edit/Delete • Quote • Complain

He doesn’t trade futures anymore he says.
But he makes regularly 10 points or more a day in futures.
And on top of that he posts his trades in hindsight; never a clear real time entry or exit signal.

rubberbird
Registered: Apr 2004Posts: 599 08-03-05 03:42 AM

Quote from Lithium Capital:Here is the current WEEKLY CHART which is labeled correctly: Hey Lithium, the last time you posted a chart like this saying the S&P would rocket up, it dropped over 50 points. I SHORTED 2 hours before you posted this on friday and finished the day 10 points up exiting about 4 pm EDT. I'll be looking for another place to short soon, hoping you will repeat your last bumbling prediction with as much vigor. You and Elliott need to pack your drug bottles and go on a search to find E.T. and his glowing finger.ps entire post courtesy of Charlie Dow

Edit/Delete • Quote • Complain

He shorted friday 2 hours before “Lithium Capital” posted, but there is nowhere any proof or posting about that trade. And of course , he took 10 points again. Talking about credibility….

I found E.T. and his glowing finger. He’s posting under the name Rubberbird.
 
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