S&P has topped for 2006

[thorn]

Quote from S2007S:

market now below 12k. Think many will wait for tomorrows job numbers before investing any new money into this market. Any weak job numbers and this market is going to drop hard tomorrow especially if we get what we got last month, which was around 50,000.

its hard for me to see the employment figure boosting stocks. with the momentum turning negative, looks to me like the employment report will help aid to the downside.

 

[S2007S]

Quote from thorn:

its hard for me to see the employment figure boosting stocks. with the momentum turning negative, looks to me like the employment report will help aid to the downside.

I think anything in the 5 figure estimate will keep these markets from moving higher.

 

[ACM Trader]

Quote from S2007S:

economic numbers today didnt look so good. market now below 12k. Think many will wait for tomorrows job numbers before investing any new money into this market. IF we trade back back in the green today I will be suprised. Any weak job numbers and this market is going to drop hard tomorrow especially if we get what we got last month, which was around 50,000.

Be surprised, then. I am still surprised that a trader can be caught "surprised." Markets have a way to be very surprising, indeed.

 

[stock_trad3r]

Econ data doesn't have the same affect as before because it is expected that the US economy will slow down.

The S&P hasn't topped out yet and it is too early to call a top on it. Infact, I woudn't be surprised if it set a new high in about 3 months.

 

[momoneythansens]

Quote from stock_trad3r:

Infact, I woudn't be surprised if it set a new high in about 3 months.

Erm, 3 months would take us into next year.

Thread title is: "S&P has topped for 2006".

 

[MaxLD]

Quote from momoneythansens:

Erm, 3 months would take us into next year.

Thread title is: "S&P has topped for 2006".

I wouldn't quibble over semantics if it could be true

Does anyone track Bernie Schaefer? I get some of his stuff (mostly ads). He's trying to make the argument that the S&P will breakout to the upside very soon...maybe within 2006.

 

[DeepFried]

Quote from MaxLD:

I wouldn't quibble over semantics if it could be true

Does anyone track Bernie Schaefer? I get some of his stuff (mostly ads). He's trying to make the argument that the S&P will breakout to the upside very soon...maybe within 2006.

A couple of years ago, a friend asked me to look at Schaefer's options ideas. I thought they were total crap. Pretty amateurish stuff in my opinion. I don't know what he's putting out now but I'd look elsewhere for market insights.

 

[MaxLD]

Quote from DeepFried:

A couple of years ago, a friend asked me to look at Schaefer's options ideas. I thought they were total crap. Pretty amateurish stuff in my opinion. I don't know what he's putting out now but I'd look elsewhere for market insights.

I think you are right on that advice. He put out some stuff about AAPL a few month ago...how it would never regain its' lofty highs. Of course it soared not long after that.

These Schaefer tidbits are a free (basic) service through my online broker. I'm getting what I'm paying for. One day I will start a thread regarding Terry Allen and his Terry's Tips. I signed up for that one years ago and thankfully never followed any of his suggestions...I'm getting beyond the scope of this thread.

Good trades all...

 

[jllm03]

The chart is looking "Tired" and due for a breather.
Would not be supprised if it is done for the year, or at least a pullback to the 1330 range.
My 2 cent....

 

[thorn]

How sad is it that I ask a relevant thread question to bozente, and he's totally unable to give a relevant, market related answer. Just plain sad.

Quote from thorn:

and if its sooo "after the fact", why are the Dec 1390 calls trading in double digits?

bozo's response:

Quote from volente_00:

I did not expect anything less from you than to call a top at 1390 when the market is at 1367.