The S&P has topped !
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You've accumulated quite a track record, amigo.
There's only one thing that matters to me amigo, the fact that I haven't lost money since S&P 1104.
Unfortunately for me, i've made very little money since S&P 1104, and certainly not enough to pay the rent, but that's trading.
BTW-- My track record is in audited statements. But you can feel free to keep compiling my et track record lol.
im going to be frank here. i actually believe you in all of the above - that youve made money (even if it is slight) but why you continue to call tops here is beyond me, unless its for entertainment only and youre fine with the idea of making yourself look like a fool
the only thing that matters is the bernank. the fed. pomo. thats it. until it ends, there is one direction to this market. so hop on board and make money.
I don't really believe you, but it doesn't matter you'll have to live with your "wonderful" trading. I do hope that there aren't people on this site who acted on your advice, it was truly awful on an epic scale for quite a period of time.
"but why you continue to call tops here is beyond me, unless its for entertainment only and youre fine with the idea of making yourself look like a fool"
Bingo. Brilliant.
There is no legitimate technical reason to be calling for tops in here. Facts are facts, and the market keeps putting in higher highs and higher lows. The retracements are shallow, and the dips appear to be snapped up very quickly. The fact that the market spends time at these higher price levels means that the market accepts the pricing as fair value. There is no evidence of exhaustion. Earnings season has been digested.
The high inflationary prices we've seen from commodities and energy can't seem to weigh down the buying to any extent at the moment, and countries like Canada and China are indeed growing at impressive rates.
Do I think that the market is going to go to 1450 or 1600 ? I have no idea. But I have absolutely no technical reason for calling for a top either, and the risk/reward skew is clearly biased to the bulls until the market tells us differently.
Bingo. Brilliant.
There is no legitimate technical reason to be calling for tops in here. Facts are facts, and the market keeps putting in higher highs and higher lows. The retracements are shallow, and the dips appear to be snapped up very quickly. The fact that the market spends time at these higher price levels means that the market accepts the pricing as fair value. There is no evidence of exhaustion. Earnings season has been digested.
The high inflationary prices we've seen from commodities and energy can't seem to weigh down the buying to any extent at the moment, and countries like Canada and China are indeed growing at impressive rates.
Do I think that the market is going to go to 1450 or 1600 ? I have no idea. But I have absolutely no technical reason for calling for a top either, and the risk/reward skew is clearly biased to the bulls until the market tells us differently.
Thanks sing. I've always responded to you and your posts bc I felt there was honesty to you. I also think you are funny.
As for the "hop on board"..you know my answer is ...NEVER!
By now you should have recognized my trading mentality and strategy. For better or worse, and it hasn't been better recently, I only short stocks and sell calls. Quite an unusual way to make a living huh?
unusual, yeah. but that doesnt mean squat. if it works for you then thats all that matters. but somewhere a long time ago i remember saying that a lot of people with "systems" or TA strategies, or whatnot have been finding these past two years very difficult to make a living. i think the reason for this is the fed's intervention/manipulation in the market. there is no road map for the amount of meddling bernanke has done and therefore all that we know from before is now useless.
i dont know if it will ever go back to the way it was. lots of traders are hanging up their hats, so to speak.
i think the fed and pds may have killed the true market.