Lay off Vol. ---his call was very bold.
The S&P 500 has topped at 2430 on 6/1/17
- Thread starter volente_00
- Start date
Hell even with bad news we still head higher. That disconnect alone tells you the market has become irrational.
No, not at all - if a market grinds higher under "adverse" news that's bullish. Institutionals are chasing yield. Yeah, equities are getting expensive. But interest rates and commodities haven't been getting it done for them. Just because your premise hasn't worked out to date doesn't mean you're right and the markets wrong. It is what it is. Don't let your own hubris get in the way - arguing with the market is a losing proposition.
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Let's look at the facts
Fading both of my top calls since march 1 and going long would have only been profitable to you if you were using a stop greater than 80 points and 50 points to survive the short term top that followed them.
My first top call at 2400 netted 78 points with a 30 point stop
The second call was followed by a 48 point drop.
And both of these were called in advance in a raging bull market that people claim is unshortable.
I shall send you a ruler by UPS. Use it, pls. Then look slightly above current prices - notice the 161.8% level? Then look below at his brother at 61.8%. Do you really believe after going so far that the latter would not honor the former?
The LONG continues. At 2481 be ready to take some profits or tighten your stop.
current stop = 2230
STOP was raised to 2315 recently
today Thursday, July 20th, 2017 @ market open in 9 hours
All LONGs closed
SHORT entry @ 2447 STOP 2481
https://www.elitetrader.com/et/thre...w-dont-miss-out-setups-turns-road-map.311188/
INFO purposes only:
Short initiated just under mini-subwave 4 in subwave 5 up. All wave counting done totally solo, no reliance on Robert Prechter and gang at ElliottWave International as they have systematically killed all my friends, broken their spines and amputated their spirit. In my case, only Joe can kill Joe. I can live with that.
Trading Targets:
method #1:
1st Target to previous 4th wave 1812
2nd Target to wave b low 1074
3rd target to March 2009 low 666 (the Devil's sign of the cross)
4th & final target into deep Hell 487
Method #2:
After wave 1 down is complete I will extrapolate it to 161.8%, 261.8%, 423.6%. One of these is sure to bite. Joe will then close all shorts and go LONG and hold for the next 70 years and hand all holdings to the women in my life, God bless them all.
Just another day as a trader, exciting and sheer poetry - the pain to get here was well worth it
You've got to be shitting me too if you think Volente is the kind of simple retail trader you see on spreadbetters. I look at the same data you do (IG Index right?). "Retail" is pretty much always short the indexes on there and long the stocks as you well know.
I was only noting that hubris makes the winning side of all these big trends in any markets the loud mouths, basically because it's soooo eeeassy for them
- but crowing about it and/or abusing Volente is just unprofessional. Volente's analysis currently isn't working but I believe him when he says he has a good win/loss ratio and is profitable - at some point he may need to amend his analysis framework, who knows. Personally I would never publish top/bottom calls as it makes you too invested in being right. Maybe that's happened here but again who knows.Fwiw - I am long via a straddle from 2425 so whatevs.
Strongly disagree. I think it is 78.3%
Isn't that more of an intraday behaviour?