The S&P put in another short term bottom on April 11

[Bitstream]

^ol' news...and ya, very bullish article.

 

[1000]

Quote from stktrdr:

Have been lurking for a while, but I can't hold my tongue any longer: We are in a BULL market. Front SP futures are going to 1370 before the end of the month.

ES hasn't closed above 1317.50, since close of ES Mar06. And cash has been unable to hold above 1307. There has to be backing and filling. Looks like another head fake.

 

[volente_00]

How many of you bears got your ass kicked on the 10:30 reversal ?

 

[volente_00]

Quote from Buy1Sell2:

While I like Volente and enjoy his posts, I am sorry to announce that I must now put him on ignore. I will initially review some of his posts to see if the 5th call has been retracted and then use the permanent ignore feature if not. This is indeed a sad day for me. Again, I am not saying that the 4th call was wrong yet. It's just too early too tell. The 5th call is very premature without resolution of the 4th call and perhaps earlier calls as well.

Now I have something in common with your shorts, we both get ignored when you don't like what you hear.

 

[volente_00]

Quote from stktrdr:

Have been lurking for a while, but I can't hold my tongue any longer: We are in a BULL market. Front SP futures are going to 1370 before the end of the month.

And you folks call me a bull ?

 

[1000]

Quote from volente_00:

And you folks call me a bull ?

The run up this week (Apr06 expiration) is similar to the sell off that occurred on 2006/01/20 (Jan06 expiration). Since then, except for small caps, the market has gone sideways. I don't know how the market can rally with $74 oil.

You can argue that the energy stocks in SPX will help, but from (Jan06) $70 oil, to now (Apr06) $74 oil, has seen SPX go sideways.

 

[William Rennick]

Quote from volente_00:

How many of you bears got your ass kicked on the 10:30 reversal ?

Hey Jackball,
I was short this morning and I'm neither Bear nor Bull. But I am lucky, I nailed todays bottom like Ron Jeremy hitting Eartha Quakes bunghole.

...Rennick out

 

[lilduckling]

Yeah!! Same here... i was out by 10:15 this morning with +23 pts going short.

(although i did feel Ron Jeremy poke up behind me this pm... but nothing serious... very minor.... )

 

[krazykarl]

Quote from 1000:

I don't know how the market can rally with $74 oil.

or 650$ gold - supply, demand and Iran.


the economy is like a car downshifting - it gets more power from the extra gear but the acceleration slows down until the engine can catch up. for the US economy, the engine has been in the new gear for a while and the acceleration in the markets is starting to catch up......

 

[frank grimes]

ok waited for all participants to answer, was my call wrong? 4/5 stocks I shorted are actually lower than they were on monday. The qqqq's are against me, but by a whole 1.6% my shorts are lower by 4%+. I short charts, not markets. I am still long gld, and gold stocks. What have I missed? When (not if) the mkt turns lower, I am ready, all 1 way players are not. Happy Trading!