The S&P has topped

The S&P has topped

  • Total voters
    59
Buy1Sell2 said:
Never bet against Trump.
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LOL, I made the mistake of betting against him right after he got elected, luckily my mentor was able to talk me out of it and talk me into the other side of the argument, think i was like 4 days late to the party, but i got it, i flipped, made money it was good.

Im not necessarily betting against Trump, his entire agenda is good for the market, but what im betting against at this point is whether or not he will be able to accomplish that agenda.

Every single republican in congress got elected on the notion they would repeal obamacare, now with a majority that he cant even lose to, they STILL couldnt figure it out. Healthcare was something they could pass with a straight majority, WITHOUT A SINGLE DEM VOTE. And They failed.

They now need 60 votes in the senate which means 9 dems need to flip sides and join him asuming every republican agrees in order to pass massive tax reform, what do you think the odds of that happening are?

Trump has rolled back all kinds of onerous regulations that came from the obama admin but rolling back regs is as far as he can go, the rest of his agenda is d.o.a. cause washington is dysfunctional.

So basically the long bet at this point is a bet that the market will keep going up on air, there is nothing fundamental Trump can change but the markets up 15%, this is the kind of trade i look for on a daily basis, TNXP up this morning premarket on old news, went vertical on the open, even though the catalyst was fake.........donkeys buying it just because it was up, lol check out how that story ends, easiest money ever.
 
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ironchef said:
+1:thumbsup:
Best argument that indeed market is at or near top, at least for now.
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I agree, its a great chart, proves a point, but the market can stay irrational longer than you can remain solvent, i still wouldnt short those 2360's on the ES id wait for something closer to 2400, like i said i think that the next couple days we will rise, cause we are in markup mode till end of quarter, then next week will dictate what you should do.

Anyways glad you enjoyed the chart, thats the kind of stuff i look for, that kind of info is much more useful than some donkey who thinks they are the first person to think of a moving average cross.

IMO most of my good trades come from thinking of the market from a psychological perspective not a technical perspective that no one cares about.
 
long ES 2353.75, willing to add below depending how it acts around 2350, either stop out or add, see how my theory of
End of quarter mark up works.

There is volume on all these down bars which leads me to believe there are buyers blocking the down move, while dumb shorts chase it, just like yesterday.
 
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Max E. Pad said:
They now need 60 votes in the senate which means 9 dems need to flip sides and join him asuming every republican agrees in order to pass massive tax reform, what do you think the odds of that happening are?
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No--they don't need 60 votes. Never bet against Trump. He will get everything done that he wants done.
 
offering 1/3rd at 2356.75, stop moved to breakeven, easy money

(edit took 2356.5 for 1/3rd) stop 2352.75 on the rest.
 
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Buy1Sell2 said:
why b/e? Do charts show that to be below a support level?
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When i said breakeven i meant 2352.75, 1 point below entry, just below the lows it was only a point, sorry for the bad wording, im not trying to screw anyone with my 2 ES contracts i have left :D
 
Sorry for lack of response guys, some days your trippping over the bench and some days you are the bench :D iots been a fun morning.


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