The S&P is looking very toppy

illiquid · Jan 22, 2004

Dunno, but I've heard and seen the phrase "Just buy the dips!" thrown around quite often as of late . . .

James Stock · Jan 22, 2004

Quote from James Stock:

Looks to me like the S&P is having trouble at 1150.

Looks like resistance to me.

Did I call it or did I call it?

Jeffo · Jan 22, 2004

A top isn't known until after it occurs. One down day doesn't make a top. The jury is still out.

James Stock · Jan 22, 2004

Quote from Jeffo:

A top isn't known until after it occurs. One down day doesn't make a top. The jury is still out.

I don't know grasshopper. It sures looks toppy to me.

pspr · Jan 22, 2004

Quote from James Stock:

I don't know grasshopper. It sures looks toppy to me.

But, James, you always think it looks toppy when its going up. There is ALWAYS something that doesn't look right.

Jeffo · Jan 22, 2004

The earth looks flat to me!

James Stock · Jan 22, 2004

Quote from pspr:

But, James, you always think it looks toppy when its going up. There is ALWAYS something that doesn't look right.

When it's going up, there has to be a top somewhere at the end.

noddyboy · Jan 23, 2004

Quote from James Stock:

When it's going up, there has to be a top somewhere at the end.

I have resorted to praying.

Perhaps the VIX has to go to -5 first.

Actually, I would be more comfortable is less people on this board tell me that it is topping. But I seen a lot of capitulation lately in individual stocks. EBAY, NFLX, JNPR.

The big problem is that I see resistances every 10 points on the SPX, and if you are already short, why not wait for the next one, and then the next one, ...

James Stock · Jan 23, 2004

Quote from noddyboy:

I have resorted to praying.
Perhaps the VIX has to go to -5 first.

Actually, I would be more comfortable is less people on this board tell me that it is topping. But I seen a lot of capitulation lately in individual stocks. EBAY, NFLX, JNPR.

The big problem is that I see resistances every 10 points on the SPX, and if you are already short, why not wait for the next one, and then the next one, ...

I don't believe that theres many people at all on this board calling for a top. Maybe, just a few. Still, a distinct minority.

Yes, it would be nice to see a pickup in the vix. It's coming..

Sardo_Numspa · Jan 23, 2004

Quote from James Stock:

When it's going up, there has to be a top somewhere at the end.

Everyone knows that a market has to top. That doesn't take genius. Knowing when takes genius. You were wrong saying the market was topping over a week ago. Read your Livermore.