Who's stupid enough to be shorting these levels?

[ttowntrader]

Quote from bridenour:

All this talk of an imminent bounce is bullshit...

Not so, more people are bearish than bullish right now, see the poll

Short, we're toast 111 64.91%
Short NOW converted to long 26 15.20%

Bear market is over for a week or two, get in tomorrow.

 

[bridenour]

If the employment report ends up being a decent positive surprise this morning, I can see things going that way.

That is quite a big "if", though. If it comes in under 500k jobs lost, I will probably take a long position. Not expecting that, however...

 

[Cutten]

Quote from tradersboredom:

daytraders and short term traders are shorting.

position shorters dont' short here.

Yes they do.

 

[piezoe]

We are likely near a level where there is at least some weak support so consolidation in a 600-700 channel seems likely next. Then possibly on down further. There really is no support below here until we get back to 1991 levels. I would think it wise to short strong rallies that take us above 700 but personally i wouldn't short much below that now (as a trader). If we lose 600, then of course i want to be short for the ride down to 400.

As an investor, I am long some commodities that have simply gotten way too cheap given the long term prospects for the dollar. I am prepared to wait and collect dividends in the meantime.

Good trading to everyone.

 

[Port1385]

If there is still room to go down then there is room. Short until the bottom..

Quote from athlonmank8:

I'm as bearish as anyone, but we've got 2-300 points downside max. I'm not dumb but i know many of you are.

I want to see how many ET geniuses are shorting this thing.

 

[stefan_777]

Oh, the infamous doji today. Option holders are bulging with calls. (And we all know their track record)

All the shorts need now is some bad news, as opposed to the usual rose coloured claims by bankers lately.

Retail numbers and employment tomorrow, this will be interesting.

 

[athlonmank8]

Quote from destroyerofall:

Good call, just a little early.

Thanks Appreciate it.

 

[athlonmank8]

Quote from athlonmank8:

I'm as bearish as anyone, but we've got 2-300 points downside max. I'm not dumb but i know many of you are.

I want to see how many ET geniuses are shorting this thing.

a little too early, but good enough for me.

 

[tracer619]

spx goes to 1050-1150 range

after that its a 50/50 chance of 1300 or 900

this may take a year or 2 to play out

 

[Debaser82]

http://www.youtube.com/watch?v=1NvgLkuEtkA