s&p just made intermediate term top @ 1431.8

[thorn]

Quote from Wayne Gibbous:

Shane!

Come back, Shane!...Please...don't...leave...Shane, uh, I mean thorn...

funny how when the buffoon rendick exited, you immediately picked up the pieces. doubt its a coincidence.

 

[thorn]

Quote from marketbarometer:

We still have several more earnings reports and a Fed meeting to go. Many of the companies beat earnings, but most either offered neutral guidance or guided lower. As well, oil and interest rates continue to grind higher. Not to mention a very low vix and put/call ratio which doesnt spell bull. How do the markets climb higher without puts or volatility? I say everyone is using margin and eventually that will aggravate any small correction.

This might be a bull trap...

the market has little upside left. its on wobbly legs and wont go much higher than this.

 

[Wayne Gibbous]

Quote from thorn:

and if it tops 1431.8 anytime thru 3/31/07, i will leave ET forever effective immediately.

Quote from thorn:

funny how when the buffoon rendick exited, you immediately picked up the pieces. doubt its a coincidence.

Geez thorny, I juz don't wantcha to leave.

sniff...sniff...choke...we'd all miss you sumthin terrible if you lived up to your word...

 

[Restricted]

Quote from thorn:

the market has little upside left. its on wobbly legs and wont go much higher than this.

So sell/mortgage the house and get involved. No way you could be wrong.

 

[ProfLogic]

Quote from Wayne Gibbous:

sniff...sniff...choke...we'd all miss you sumthin terrible if you lived up to your word...

Never Happin.

 

[thorn]

Quote from Restricted:

So sell/mortgage the house and get involved. No way you could be wrong.

don't have mortgages on any of my homes.

but i will start a new thread "the s&p just made an intermediate term top @.." when it happens !

 

[marketbarometer]

The total market has not been under the 50 day moving average since August. In the early part of January, it briefly brushed against the 50 day line without crossing. Now it is back above the 10&20 day averages as well.

The total market could keep capituating higher and higher just as it did last spring until there is a breakdown. The main two factors, in my opinion, are oil and interest rates. I am curious to see what happens when the ten year breaks 5%.

In the meantime, I believe cautious long trades are in order with tight stops.

Quote from thorn:

the market has little upside left. its on wobbly legs and wont go much higher than this.

 

[nonlinear5]

Quote from marketbarometer:

I am curious to see what happens when the ten year breaks 5%.

It would still be well below the S&P 500 forward earnings yield of 6.37%.

 

[thorn]

Quote from marketbarometer:

The total market has not been under the 50 day moving average since August. In the early part of January, it briefly brushed against the 50 day line without crossing. Now it is back above the 10&20 day averages as well.

The total market could keep capituating higher and higher just as it did last spring until there is a breakdown. The main two factors, in my opinion, are oil and interest rates. I am curious to see what happens when the ten year breaks 5%.

In the meantime, I believe cautious long trades are in order with tight stops.

You have the right idea amigo, the s&p will not go much higher from here. I still firmly believe this will be a negative year for the s&p. take it to the bank.

 

[volente_00]

Quote from thorn:

i'm still holding those calls, bozo, just like RM is still long oil @ 63.

What a bozo!

So now you covered them after the fact at 1421 ? But if we dive from here you will still be short. I see all is still well in fantasyland.