The S&P has topped !

[bone]

The price of crude has turned the stock market, it will thwart QE2, it has already lit the inflation fuse, and the fact that the Obama administration has used the BP spill as a foil to stop domestic oil production has ensured his tenure as a one-term President. At full production, the U.S. is actually the third largest oil producer in the world, and between his current domestic energy policy and his Mid-East policy he has managed to ensure $4.50 per gallon gasoline into the October 2012 election cycle. He is most definitely one-and-done.

For this little gem, the administration has no standing to hang this one on Bush.

It is the economy, stupid.

 

[bone]

Quote from volente_00:

I disagree.

smart money sells into strength, not weakness.

Wrong, that's not "smart" money, because if you do that you will rapidly run out of capital or get fired for the drawdown. Can't do that in the real world, whether it's your own money or someone else's.

 

[volente_00]

Quote from bone:

Wrong, that's not "smart" money, because if you do that you will rapidly run out of capital or get fired for the drawdown. Can't do that in the real world, whether it's your own money or someone else's.

What are you talking about ?


Smart money use squeezes to distribute to help mask the selling pressure.


The ones that are successful do not chase price.

 

[bone]

Quote from volente_00:

What are you talking about ?

Smart money use squeezes to distribute to help mask the selling pressure.

The ones that are successful do not chase price.

I have no idea where you get the idea that a bank desk or a hedge fund is going to let you sell into a rally for weeks and months on end. The guy running that desk or the PM will not suffer that drawdown - guards will escort you out the door. It is a collective effort for monthly performance and an annual bonus - and the "fade monkeys" (so named because of the skill level required) are not perceived as using skill and strategy and having 'value added' to the team.

If you're trading futures for your own account your clearing firm won't let you do it for long unless you have very deep pockets, for that matter. Risk of ruin - those guys are not around for long.

Having traded at HFs and for a commercial, the only traders I've seen sell into strength and live to tell about it are producers who lock in profit margins. And then, they scale and wait for a specific basis differential before they swing into action.

 

[RCG Trader]

Quote from bone:

I have no idea where you get the idea that a bank desk or a hedge fund is going to let you sell into a rally for weeks and months on end. The guy running that desk or the PM will not suffer that drawdown - guards will escort you out the door. It is a collective effort for monthly performance and an annual bonus - and the "fade monkeys" (so named because of the skill level required) are not perceived as using skill and strategy and having 'value added' to the team.

If you're trading futures for your own account your clearing firm won't let you do it for long unless you have very deep pockets, for that matter. Risk of ruin - those guys are not around for long.

Having traded at HFs and for a commercial, the only traders I've seen sell into strength and live to tell about it are producers who lock in profit margins. And then, they scale and wait for a specific basis differential before they swing into action.

+1

Plz continue to teach the noobs that this remains very much a bull market rally and that we will not see a break of the trend until a monthly or quarterly top is broken. My charts have 11,300.

 

[volente_00]

Quote from RCG Trader:

+1

Plz continue to teach the noobs that this remains very much a bull market rally and that we will not see a break of the trend until a monthly or quarterly top is broken. My charts have 11,300.

LOL, perhaps you missed the chart he just posted that shows we broke down out of the current trending channel.




No offense to bone but I posted we were topping at 33 es a few pages ago, the market traded up to 34.5 and then fell 40 handles. His response then was we are just trading sideways and market is not a sell until we trade under 1280.


Now I maybe I am crazy but for the past decade I have consistently made money selling into strength and buying into weakness. If this was not profitable as he claims then my a$$ would have been broke years ago.

 

[bone]

Quote from volente_00:

No offense to bone but I posted we were topping at 33 es a few pages ago, the market traded up to 34.5 and then fell 40 handles.

That is correct, you were making macro-economic predictions and calling for major market reversals on an intraday line chart using delayed data.

 

[S2007S]

Not looking good again!!!


S&P FUT
1284.40 _ -5.10 -0.40%
DOW FUT
11926.00 _ -57.00 -0.48%
NAS FUT
2277.00 _ -6.00 -0.26%



Bulls better hope for a turnaround!!!

Markets getting very nervous!!!!

Bubble ben bernanke is going to hint about QE 3 once the markets start to really fall apart!!!

 

[luisHK]

Quote from S2007S:

Bubble ben bernanke is going to hint about QE 3 once the markets start to really fall apart!!! [/B]

I definetely hope so. Market is surprisingly strong so far today considering the disappointing to bad news we are getting.

 

[GrandSupercycle]

I’m sticking to my Feb 22 call that the DOW top on Feb 18 2011 signals the end of the rally.

FX, GOLD etc. are still tracking sideways and this will continue until the recurring DOW/S&P500 buying support is overpowered by selling pressure.

A new down leg is slowly being established, that I am sure of.