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
Quote from fly down:

Great call ! But that's yesterdays news..

Looking at individual charts this 2 day decline is obviously the beginning of a major decline. There is alot of damage to the charts of many individual stocks. Couple that with extreme sentiment and this is a perect time for the market to get whacked.
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You said that at many lower levels and we rallied off the retracements, some of which were more pronounced. You are literally insane. You have no credibility left you make S2007S look like a genius.

Ironically, in your previous post you acknowledged the role of option expiry in the 1-2 day drop. However, you seem oblivious to the STRENGTH in the charts of financial stocks and the STRENGTH in earnings in technology. If you think those two sectors are going to correct you are mistaken ( no surprise though, you make being wrong an art form buddy ).

If this retracement is entirely options related, we'll rally on Monday. This is textbook. If the resources continue correcting, we'll have a choppy mixed market for 1-2 months. There will be no sizeable correction as you predict before late April ( minimum ), which means you will have plenty more bad calls to go. Or you could just go away, and make this trading forum a more intelligent place to be.
 
Quote from fly down:

Great call ! But that's yesterdays news..

Looking at individual charts this 2 day decline is obviously the beginning of a major decline. There is alot of damage to the charts of many individual stocks. Couple that with extreme sentiment and this is a perect time for the market to get whacked.
More...

Ok, let us know specifically your exact trade that you have made to profit from your prediction. You seem to think this is a slam dunk win let's see how you do. Maybe you can recoup some of the huge losses you had last quarter 2010 ( I doubt you'll admit to them but your broker surely knows ).
 
Quote from fly down:

But the trade I made was selling S&P 1200 calls and that made a profit. How can you take the other side of a profitable trade and make a ton of money????:confused:
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Buying the S&P 1100 calls was a much better trade. I know, I know, that would have meant trading against your permabear bias that has been owned nonstop for 5 months.
 
Corrected



Quote from Nine_Ender:

Buying the S&P 1100 calls was a much better trade. I know, I know, that would have meant trading against your permabear bias that has been owned nonstop for 48 months under jamesstock, rubberbird, thorn, ghostzapper, browshan and all of the other alias you made blown top calls under
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Quote from candles:

bottom likely in for a good while now?
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I think trading the index is just guessing right now, play it by sector. I like Financials long and any Technology with a modest P/E. I also am looking at some shorts in overbought resources but I failed to pull the trigger on that trade last week ( I recommended earlier shorting metals for the second week in January into expiry week ).
 
Quote from candles:

bottom likely in for a good while now?
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Thinking that would be a mistake Ken.
Quote from fly down:

Looking at individual charts this 2 day decline is obviously the beginning of a major decline. There is alot of damage to the charts of many individual stocks. Couple that with extreme sentiment and this is a perect time for the market to get whacked.
More...
 
You were saying? ;)
The 'dip' is now already looking like a distant memory! Bulls are in complete control. The drop was just a chance to get additional longs on for the inevitable bounce/rally.
 
Quote from candles:

You were saying? ;)
The 'dip' is now already looking like a distant memory! Bulls are in complete control. The drop was just a chance to get additional longs on for the inevitable bounce/rally.
More...

maybe theres a new top he'll tell us about in a few days. a grand supreme poobah top.

of course for a top to truly be a top, it has to be re-tested, right?
 
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