The S&P 500 topped at 3481
- Thread starter volente_00
- Start date
Why 4103? Uncharted waters.
I knew it was likely a bad idea immediately. I've been waiting for the ATH to be taken out for the SPX, some renewed positive momentum on several commodities, and some sign which way Gold/Silver were going to move. They all went positive, and every single economic news item was extremely positive last week. Basically, the only reason to short markets at this point is a bet that the Covid variants will overwhelm any vaccine progress and wreck everything.
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When haven’t shorts got steam rolled ? All the Reddit boys buying stocks by the millions . Usually a top right ? No . Every kid on earth playing the mkt should be a top ? No .99% of analysts rabid bulls should be a top ? No . During the pits of covid we skied month in month out as things got worse we skied . Interest rates up 6 times off the lows we skied . Economy skying and we all knew it would so sell the news right ? No we buy the news . Moral of the story . Every story and every event is a buy . Mkts no longer go fall outside very very very short period of times measured in days it weeks vs rising for years and now even decades . Long is the only way to trade or hold .
I had a quick browse through Volente_00's posts, he likes to swim against big waves
Inverted H&S in NQ, to the Moon!
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We should keep going up. 5k is next
Let's see if markets sell off after NFP report as suggested by some.