S&P 500 very close to intermediate term top

S&P 500 is very close to topping 5/15/07

  • Yes I agree

    Votes: 99 55.0%

  • No I don't agree

    Votes: 49 27.2%

  • Not sure

    Votes: 32 17.8%
  • Total voters
    180
Quote from ghostzapper:

Thank you.

If you're honest w yourself, you should also be able to give me credit for this thread, which has been 100% correct so far.

I'd love to hear from my old buddy Pabst, who I know still remembers that I was about the only person in America to say that Smarty Jones, at 1-5 odds, would not win the Belmont Stakes and would not capture the triple crown.
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I well remember the Smarty Jones fade. You've had tons of great calls on this board. Most speculator's who I know have got hung out to dry at least once shorting the indices this past year. Shit happens. And of course it'll happen again. Only next time it'll be the perma bulls.

These guy's are missing a trading point regarding volatility.

Big range day's with a declining VIX are OPPORTUNE times to leg long vol. The increase in deltas more than compensates for your gamma coming in. It's not as if vol's are getting crushed. (they've never been back to 2/27 levels)

I'd sure as hell rather buy calls at a 14 vix and have the market rally 20 handles with the vix coming in to 13 than buy puts on a 30 vix and rising and still get only the same 20pt move in the underlying......
 
Quote from ghostzapper:

The S&P closed today @ 1503.2 and the technical indicators arte now signaling an intermediate term topping pattern right here.

Does anyone see the same thing ?
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Ghostcrapper, can't hear you. :p
 
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