SPX Has Topped For The Year Or Pabst Will Leave ET

Quote from m4a1:

since the dow closed at all time high yesterday, do you guys think all the trend followers will be buying today?
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I personally would not touch SPX right now, I would not short it and I would not buy it, I'd just leave it.
 
Quote from m4a1:

since the dow closed at all time high yesterday, do you guys think all the trend followers will be buying today?
More...

buy 52wk highs and buy 52wk lows - be careful of everything in between.


same goes for indicies.
 
hey pabst do what you gotta do, but do't forget to live to fight another day. nobody's going to hold you to your wager.
 
Quote from m4a1:

hey pabst do what you gotta do, but do't forget to live to fight another day. nobody's going to hold you to your wager.
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those who don't learn from past mistakes are doomed to repeat it.
 
If Pabst's call for a top is to fail (I hope it doesn't, as I want him to make a killing on this one) that would prove yet again that experienced pros like Pabst do make errors of judgement. I did sense a little uncertainty in his observation of general sentiment vs his position, not that it probably matters as who is to say that ET represents views of the general public. I believe the public to be perhaps uncertain, but more bullish than bearish as they mostly follow their portfolios, media and indices. At least ET crowd have some awareness of technical analyses and how punishing the markets can be. I still think it was a bald call, it will be very interesting to see how it develops. All the best!
 
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