The S&P put in a short term top on 2/20/07

Will the S&P close higher than 1464 before if first declines to 1444 ?

  • Yes

    Votes: 6 24.0%

  • No

    Votes: 19 76.0%
  • Total voters
    25
Quote from ByLoSellHi:

If you're depending on technology to drive growth growing forward, good luck.

That movie has been played so many times before, and the audiences always give it two thumbs down. Way down.

The Facebook sale to Google was my 'microcosm contrarian indicator' on tech.
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But its not just tech..... its also the likelyhood of the end of the fed rate hike soon..... and this summer, if oil cant get back up above 70/ barrel, it most likely will fall... slowly but deeply. Also take into account what the sectors are doing and where do they put us in the business cycle?
 
Quote from lilduckling:

But its not just tech..... its also the likelyhood of the end of the fed rate hike soon..... and this summer, if oil cant get back up above 70/ barrel, it most likely will fall... slowly but deeply. Also take into account what the sectors are doing and where do they put us in the business cycle?
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That's just it - speculators are going back to the oil well and energy sector now (along with corn and wheat) to juice returns.

But crude inventories are still in glut mode, and corn and wheat futures are notoriously bad historical plays.

How many times can oil/energy drive real gains in a slowing growth environment, when housing is a huge drag on GDP (unlike 2000-2006)?
 
The Fast Money guys (CNBC show) were talking about a 200-300 point drop in the Dow and 40 points off the S&P next week. They suggested taking profits on Monday but getting ready to buy the forthcoming dip.

I don't put a lot of weight on what they say, but I'm not any better at forecasting. I thought this market was looking toppy last November!

Aaron Schindler
Schindler Trading
 
Quote from Aaron:

The Fast Money guys (CNBC show) were talking about a 200-300 point drop in the Dow and 40 points off the S&P next week. They suggested taking profits on Monday but getting ready to buy the forthcoming dip.

I don't put a lot of weight on what they say, but I'm not any better at forecasting. I thought this market was looking toppy last November!

Aaron Schindler
Schindler Trading
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That's it, I'm putting on the full Bull Suit, all four Legs! :D

JJ
 
What is the point of predicting a top if you can simply ride the decline that's going to build a lot of momentum when it does happen. Just because charts show something to you, that doesn't mean that the actual top is in. You have to observe institutionals behaviour, they mark tops & bottoms, we follow. If we try & front run them then we would be gambling. I would rather participate in a sell off, than predict it. I don't see the point as you might get burnt 10 times before you hit bulls-eye, so what is the point? It sounds like you are playing some sort of a game here.
 
Quote from JSSPMK:

What is the point of predicting a top if you can simply ride the decline that's going to build a lot of momentum when it does happen. Just because charts show something to you, that doesn't mean that the actual top is in. You have to observe institutionals behaviour, they mark tops & bottoms, we follow. If we try & front run them then we would be gambling. I would rather participate in a sell off, than predict it. I don't see the point as you might get burnt 10 times before you hit bulls-eye, so what is the point? It sounds like you are playing some sort of a game here.
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You'd "rather participate in a sell off?"
 
Quote from ByLoSellHi:

You'd "rather participate in a sell off?"
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He'd rather trade with the trend, certainly makes sense when looking at the large timeframe.

Good trading,

Jimmy Jam
 
Quote from JimmyJam:

He'd rather trade with the trend, certainly makes sense when looking at the large timeframe.

Good trading,

Jimmy Jam
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That's great, as long as one manages to avoid getting caught in a stampede.
 
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