The S&P is looking very toppy

James Stock
Senior Member

Registered: Dec 2003
Posts: 230


01-15-04 10:27 AM
The S&P is looking very toppy
I say the S&P is topping right NOW.




You posted this when the S+P was in the mid1120's...now it's @ 1136. If you shorted 1125 with size, you are getting crushed.

Pick a price for your "top" and stick with it.
 
Quote from VOLUME:

James Stock
Senior Member

Registered: Dec 2003
Posts: 230


01-15-04 10:27 AM
The S&P is looking very toppy
I say the S&P is topping right NOW.




You posted this when the S+P was in the mid1120's...now it's @ 1136. If you shorted 1125 with size, you are getting crushed.

Pick a price for your "top" and stick with it.
More...

Oh, come on...you can do better. We've already went over this. I sold the Jan 1140 calls, and they expired worthless. You gonna criticize the fact that I made $20K?

As for my "top" call, I said it here, and I haven't wavered.

http://www.elitetrader.com/vb/showthread.php?postid=410345#post410345
 
Quote from VOLUME:

James Stock
Senior Member

Registered: Dec 2003
Posts: 230


01-15-04 10:27 AM
The S&P is looking very toppy
I say the S&P is topping right NOW.




You posted this when the S+P was in the mid1120's...now it's @ 1136. If you shorted 1125 with size, you are getting crushed.

Pick a price for your "top" and stick with it.
More...

The whizbang Fibonacci people are saying the S&P will top in the low 1250s. If you intend to play an 1150 top you may need all of your risk management skills and more. :)
 
James reminds me of the "cat on a hot tin roof". Only there are some snipers across the street taking some shots at him, too.

It's not wise to be that cat.
 
Quote from pspr:

James reminds me of the "cat on a hot tin roof". Only there are some snipers across the street taking some shots at him, too.

It's not wise to be that cat.
More...

thank you.
 
Quote from valleyvintner:

The whizbang Fibonacci people are saying the S&P will top in the low 1250s. If you intend to play an 1150 top you may need all of your risk management skills and more. :)
More...

Are the Fib people ever right?

Not this time.
 
Quote from Pabst:

So are you thinking a rally first?
More...

Not a rally, just some final short squeezing. But there's little upside left. It's a tough call. I'm just broadening the range in case. It may top as low as 1150, or as high as 1170. Either way, we're close to it.

The sure sign will be an increase in volatility, coupled with some type of reversal day on larger than normal volume.

What do you think?
 
Well I'm short but I'm non-plussed at the bearish consensus. I had thought today washed out a lot of shorts, now instead I'm thinking a new crop of 'em are now pressing it.
 
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