Yes. We call those green shoots. If unemployment hits 11%, S&P will surge 5% and hit 1200 by August. No worries. It's the new economy. (Oh, and VIX is up on today's rally. Suckers actually think it's different this time.)
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S&P 500 short term overbought & low VIX
- Thread starter MONEY4NOTHING
- Start date
Yes. We call those green shoots. If unemployment hits 11%, S&P will surge 5% and hit 1200 by August. No worries. It's the new economy. (Oh, and VIX is up on today's rally. Suckers actually think it's different this time.)
First target 934...
Quote from S2007S:
I believe all the people who are yelling not to short now are the ones who wouldn't commit a single dime on the long side when the dow was under 7000.
i was long bias as of march 9th and stated as much in market surfers thread. i agree the markets are overbought and due for a correction this week or next but these rallies can carry on for days or weeeks. i dont know about you but i'm still nervous about trying to pinpoint this top. i still wouldn't short it yet.
http://www.elitetrader.com/vb/showthread.php?s=&postid=2340914#post2340914
Quote from S2007S:
I believe all the people who are yelling not to short now are the ones who wouldn't commit a single dime on the long side when the dow was under 7000.
At 945, its best to stay away from the market. Going long or short is neither a good setup in terms of the short-term trade.
934 target hit...next is 924.