S&P has topped for 2006

[volente_00]

Quote from thorn:

wed. futures -5. thorn is laughing all the way to the bank.

yea, double tops and TA aren't relevant.

http://finance.yahoo.com/q/bc?s=^GSPC&t=1d



Do you always laugh when you lose money ?

 

[Buy1Sell2]

Thorn, can you post your double top chart so we can evaluate? Thanks!

 

[satchel]

Huge trend day today, please don't be short, sell in February. Long since last week and holding

 

[stock_trad3r]

Market rebounding HUUUGE this morning from lows

S&P close green today..easily

 

[Pa(b)st Prime]

I covered my shorts this morning (1381.75) and actually (gasp) got long. I'm offered at 1389 and I'll start scaling short in the 90's. I'm still bearish. However I see that it's imperative for the market to auction just a tad higher. Why? So that participants can say, "the elections are over and it doesn't matter, we're still going higher." Once that psychology is set in place we'll break.

 

[volente_00]

Quote from Pa(b)st Prime:

I covered my shorts this morning (1281.75) and actually (gasp) got long. I'm offered at 1289 and I'll start scaling short in the 90's. I'm still bearish. However I see that it's imperative for the market to auction just a tad higher. Why? So that participants can say, "the elections are over and it doesn't matter, we're still going higher." Once that psychology is set in place we'll break.

Why are you offering 100 under current bid ?

 

[romik]

Quote from stock_trad3r:

Market rebounding HUUUGE this morning from lows

S&P close green today..easily

Is that based on fundamental analyses or just a hunch?

 

[stock_trad3r]

Quote from thorn:

This is totally ridiculous. The success of my entire career has been thru use of TA. If TA didn't work, I wouldn't have made double digit profits for 11 straight years. I don't use TA exclusively, but my decision making always starts with it. And the following call made today is pure TA:

TA may work in very short term, but in long term it fails for indexes. Depends on your timeframe I guess as well.

When you say doubledigit how much is that? You mean % wise?

 

[stock_trad3r]

Quote from romik:

Is that based on fundamental analyses or just a hunch?

Fundemenetal analysis and a little TA.

The markets sold off at the close yesterday and the election results don't have much an affect on the fundementals, therefore the selloff at the close yesterday will be negated by a rally today.

I suspect yesterdays EOD selloff came form exit polls showing a dem lead.

 

[volente_00]

He means he makes double digit profits selling naked calls in bull markets. Me and thorn comanage a 10 figure fund out of manhattan.