s&p just made intermediate term top on 11/22

[thorn]

Quote from hels02:

Is there another place to park the cash you took out of real estate that I don't know about? If there's a better place for money than the stock market, can someone tell me what it is?

Yes, there's a better place. Not in the stock market to avoid losing $.

Jackbyrd, great to have you back!!

 

[Pa(b)st Prime]

I'm bearish as hell but once again the extreme negativity has my radar gun going. Maybe that's why we're squeezing higher all afternoon and evening. The market trades like a lot of new shorts came in yesterday. Not to mention the old shorts like who're still hanging around. Let's face it. Stocks aren't going to break unless MANY global markets reverse course also. IOW's I'd be surprised to see a sell off in stocks not cause massive deflation signals halting the move in energies, metals and grains as well as probably helping the dollar. Big ifs. Sentiment's the key though. If a few too many folks got caught long above 1400.......

 

[thorn]

Quote from Pa(b)st Prime:

I'm bearish as hell but once again the extreme negativity has my radar gun going. Maybe that's why we're squeezing higher all afternoon and evening. The market trades like a lot of new shorts came in yesterday. Not to mention the old shorts like who're still hanging around. Sentiment's the key though. If a few too many folks got caught long above 1400.......

Now hold on just a moment about sentiment. its at very bullish levels 58% bulls 23% bears of the people who count. that's high and when falls occur. question is, can they hold it up to end 2006? either way, its going lower.

 

[volente_00]

Quote from thorn:

Now hold on just a moment about sentiment. its at very bullish levels 58% bulls 23% bears of the people who count. that's high and when falls occur. question is, can they hold it up to end 2006? either way, its going lower.

Yes but the results on your current poll indicate otherwise.

 

[volente_00]

jackbyrd, feel free to check any of my posted trades against their ET timestamp, If you find one that is after the fact, I will honor any request you give me. Till then, keep showing me the money.

 

[volente_00]

Seriously how do you do this ?



http://finance.yahoo.com/q/bc?s=^GSPC&t=5d



Thanks for jinxing my short trades once again.

 

[stock_trad3r]

Quote from jackbyrd:

Unfortunately one following your calls during the last "correction" would have gone broke.

Alas sir, you also lack credibility.

Um looks like it is rebounding already

 

[romik]

I posted my opinion, but in the wrong thread

http://www.elitetrader.com/vb/showthread.php?s=&postid=1279275#post1279275

 

[SethArb]

if fibo numbers work ... then todays high might be the end of the retracement in the spoos from the lows the other day

bring out the tea leaves !

funny how the spoos are the strongest since the other
days lows ... compared to the dow , nas100

however the russell2000 is even or was even stronger
than the spoos ...

 

[LT701]

Quote from thorn:

i guarantee that the s&p just made an intermedaite term top on 11/22 @ 1407.9. it will not see that level for many, many months.

i am so sure of this that i will leave ET and not come back under any alias if i am wrong.

here we go again

i kind of think there's a short term top also

however, these kinds of threads rarely acomplish more, than cementing biases, eith with or against the original post

and too often, those biases prove deadly