The S&P has topped at 1150

Has the S&P topped at 1150?

  • Yes

    Votes: 24 29.6%

  • No

    Votes: 35 43.2%

  • I don't know, I cannot answer

    Votes: 22 27.2%
  • Total voters
    81
J

James Stock


I will not respond to anything but a topped S&P.

I have also sold Feb 1175 calls (undisclosed amount!)

Excessive and persistant bullish sentiment, persistant low volatility, the likelihood of higher interest rates after the election, the uncertainty of the election, a 40& rise form the S&P low etc.

All of these and some more factors have contributed to my confidence that the S&P has topped.
 
Hi James,

What's the timeframe for your call?

I.e., are we done with a bear market rally that lasted 15 months, or is this an IT top?
 
Quote from NET:

Hi James,

What's the timeframe for your call?

I.e., are we done with a bear market rally that lasted 15 months, or is this an IT top?
More...

you know what? I cannot answer that right now. But the fact that I cannot answer it doesn't change my current strategy and position.
 
Quote from James Stock:

you know what? I cannot answer that right now. But the fact that I cannot answer it doesn't change my current strategy and position.
More...

You've SOLD calls on the S&P with the market just bouncing off lows after a two day pullback, and Nortel blowing out earnings and up 20% after hours?

And you intend to be trading for...how long?

This would very possibly be the only pullback we'll see for weeks.
 
Quote from lindq:

You've SOLD calls on the S&P with the market just bouncing off lows after a two day pullback, and Nortel blowing out earnings and up 20% after hours?

And you intend to be trading for...how long?

This would very possibly be the only pullback we'll see for weeks.
More...

Yes, I've sold Feb 1175 calls, although I certainly did not say anything about selling them yesterday.

I intend to be trading for..as long as I'm alive and kicking.

I never put myself in a position where any trade can cause me harm. That's why I've made money every year for the last nine years.
 
Quote from Pabst:

I'll tell you this much. If someone said I could only take market advice from Surfer or Romeo/James Stock, I'd listen to Romeo Stock. WTF, read through his posts under all of his aliases. He's got UNCANNY feel and great levels. Unfortunately style over substance usually wins. Maybe Romeo Stock could call his system pseudo Gann channels. Then everyone could ooh and awe at his marvelous insights.
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You da man, Pabst!
 
Quote from James Stock:

I will not respond to anything but a topped S&P.

I have also sold Feb 1175 calls (undisclosed amount!)

Excessive and persistant bullish sentiment, persistant low volatility, the likelihood of higher interest rates after the election, the uncertainty of the election, a 40& rise form the S&P low etc.

All of these and some more factors have contributed to my confidence that the S&P has topped.
More...

Everything tops (or bottoms) on some time scale. Through Feb you may be right but beyond that time frame - if not sooner - I would be very reluctant to call it a top unless we see quite a bit of bad news .... Of course like you, I really dont care since I take on trades and positions which I am free to modify. Right now my models only show a short term pullback and I am long on selective issues that still have strength, short on others based on rotations.
 
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