My short term moves based on my reads seem to have worked out ( long Oil producers, long Copper miners, long Gold/Silver miners at a floor, sold all pure Nat Gas producers at a profit ). I wanted to add another Copper miner last week ( Hudbay or Lundin ) but it never happened. Basically if all the negative news out of China dissipates I see Copper going on a run and it's up more then 2% today after a sneaky up move last week.
The S&P will top at 4540-4601
- Thread starter volente_00
- Start date
My short term moves based on my reads seem to have worked out ( long Oil producers, long Copper miners, long Gold/Silver miners at a floor, sold all pure Nat Gas producers at a profit ). I wanted to add another Copper miner last week ( Hudbay or Lundin ) but it never happened. Basically if all the negative news out of China dissipates I see Copper going on a run and it's up more then 2% today after a sneaky up move last week.
I think the S & P has already made its high for a long time.
Im not concerned where the market goes, I trade each day and scalp using methodical trading methods based on a particular day.
Copper run came in as I expected I've been hugely overweight Copper miners for most of this week ( 5 positions and some day trading ). I got lucky selling 2/3 of my Gold/Silver positions yesterday on strength; option expiry may create some rebuy opportunities later today. Oil may be tricky today because fundamentally the trade remains good but expiry day may mess with how it transpires.
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Ok let's look at that. It's important to look at positions in terms of would you take the same trade today. And if you are objective and not trading emotionally the answer should be no. So why wait for 4700 that's likely going to occur now ? Your theme failed time to cut your losses. You know what happens when new all time highs occur in indexes or stocks ? Almost always goes higher. Of course, from a more fundamental aspect the news on Thursday pre-market ( in combination with numerous bullish news items ) should have been enough reason to not be short the SPX short term. Of course, we know that the more likely outcome is we get to 4700 and you reissue a short call and refuse to cut the position.
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4371 touch and then
See you bulls at 3400-3600
See you bulls at 3400-3600
So once again, you are looking for a +20% crash. The heck is wrong with you pessimists? That is not a realistic goal, unless the gubmint defaults on it's debt, or Bovine Spongiform Encepahalopathy goes airborne.
Lol. It's a house of a cards. Volente from what I can tell is purely technical - so he isn't even figuring in all the bullshit that is propping this thing up.
It caves when it caves. Soon.