The S&P has topped !

Has the S&P topped and headed for a sharp correction?

  • yes

    Votes: 58 30.5%

  • no

    Votes: 59 31.1%

  • I don't know / I don't care / I don't like you

    Votes: 73 38.4%
  • Total voters
    190
Right. This'll be my one and only top call. The top is between now and 15 points on the S&P (so it will top out b4 1305). I really hate making top calls also because you can't predict trend ends that well and sometimes there's a little crazy "pop" at the end to really drive the permabears insane, but taking into account the pop possibility it won't be long now. All the signs I want are there.

I'll convert and buy a dip if it goes over 1305 ;)
 
Quote from Locutus:

Right. This'll be my one and only top call. The top is between now and 15 points on the S&P (so it will top out b4 1305). I really hate making top calls also because you can't predict trend ends that well and sometimes there's a little crazy "pop" at the end to really drive the permabears insane, but taking into account the pop possibility it won't be long now. All the signs I want are there.

I'll convert and buy a dip if it goes over 1305 ;)
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Market would be higher except metals sold off a lot for several days. My whole theme recently has been on sector rotation into large cap financials and technologies, and this is exactly what occurred today. I'll add Oil to this mix given its seasonal now.

We'll get continued strength in these sectors so the question is how badly will risk assets like materials and small caps sell off.
I do believe we'll get a pop up on Wednesday due to IBM/Google/Apple earnings. There are plenty of buyers out there for QUALITY assets.

It almost doesn't matter what the indexes are. Simply buy the correct sectors and investment type ( eg large cap dividend paying, strong earnings companies ). You'll do well long. Those speculators investing in high risk juniors etc probably got dinged this month. Are they done retracing, impossible to know. You could hedge your bets and take longs AND shorts.

To me this is a VERY healthy market now, tons of divergence, plenty of opportunities to make money ( even short if you pick right levels in certain sectors ). Shorting the index is actually counterproductive, you have many quality stocks working against you. IBM/Google/Apple are going to crush earnings, Banks are finally getting some respect. Why bet against these trends ?
 
overnight rate is 0%.

there is no profit taking at all...nobody is taking profits. since there is no profits to take..it's mostly short covering buying this market.

your risk losing long or short in this market conjuction. these market makers can make the market whatever they want.


the market or 'game' is fixed..ther is no free market anymore.


Quote from fly down:

The S&P closed today at 1270.2 Looks like we're headed for a sharp correction.

The individual stocks have put in topping patterns as of today. The sentiment is extreme. Nowadays the corrections happen fast. I say right now is a great time to load up because it could be much lower in a few days.
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Yes a strong good market but it tops and pulls back about once a week................and I expect we start another little pullback on Thursday. So I will be looking to cover my longs and maybe go short for a couple of days or so.
 
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