sell ES

[OldTrader]

Quote from waggie945:

I have made several "bullish" comments on this thread, simply pointing out the obvious UPTREND and SEASONALITY.

As for whoever has posted on this thread about their trading style, and/or position, I have NEVER singled anyone out, nor have I been personally CRITICAL of such person.

This market is climbing based on the fact that S&P EPS of $58.50 only gives it a multiple of 19.1

If such an estimate is too CONSERVATIVE and turns out to be more like $64.00 per share, 1200 on the S&P is not out of the question.

All I have said all along on this thread was:

THE TREND IS YOUR FRIEND!

Evidently I misinterpreted your post. My apologies for that.

Just a quick comment on the PE ratio. It's worth noting that there are different types of "earnings". There's GAAP earning, core earnings, and pro forma earnings. And based on the trailing 12 months we are currently trading around 29, 29, and 21 respectively. I would further note that "fair value" historically might be something like 15. Of course, interest rates are much lower than historical rates, and therefore perhaps the PE should be somewhat higher.

That said, I think PE ratio is a poor measure of value....and a poor way to trade. I think your comment that "the trend is your friend" is much more valuable, and a better way to trade.

Again, my apologies for misunderstanding your post.

OldTrader

 

[SethArb]

paper trading ...

 

[shuman_dahuman]

I'm sure he's fine because after all he is a big swingin' dick in the trading world. 100 lot short here.. 100 lot long there it doesn't matter to him.. he's a big $ man.. that's why we can just refer to him as "he" and everybody know who we're talking about because "he" is da man!!

Quote from SethArb:

paper trading ...

 

[waggie945]

is roughly $48.00 which gives a P/E of: 25.4

A far cry from the $58.50 that Morgan Stanley is talking about.
Stay tuned!

 

[illiquid]

Someone on CNBC just said that's it's mostly buy programs injecting new years' money into the market, but it's being met by real sellers (explains the high volume but not much movement in s&p, dow). So it must mean the market is going down.

I'm going short - go CNBC go!

 

[okwon]

Did AMT get stopped out of his positions?

 

[waggie945]

One of these days, all of the TOP PICKERS on ET will get it right.
But right now, they are looking at what could be the beginnings of a real nice DOLLAR RALLY!