People do buy at the top but people are also buying all the way up until the top is reached. Look at gold people, were saying gold was at a top and people kept on buying and rightly so as it kept on going up. I wouldn't worry about buying if the price looks like a top it means that the price is trending.
Why Do People Buy At A Top?
- Thread starter tradingjournals
- Start date
Hey smart money: you missed the sell off at beginning of week, and since you are big the market went back to board you. SPY is now at 180.78. I could see your coat made from bear skin. Your estimate location is at most 0.16cents to 0.22cents away.
How is the street doing? Are they still bullish in their pockets (or in words only)?
simple answer to the OP: peer pressure
Original answer --- but applies in bull market only?
what happened to this thread
and how many points did the index climb up since this very first post ??
just a memo
the op must have made heaps since then..
what happened to this thread
and how many points did the index climb up since this very first post ??
just a memo
the op must have made heaps since then..
The OP was grounded. Something about not taking out the trash.
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Good points;
great points.William O Neil[IBD] wrote a book /system on doing that with profits.
Good precise question''Buy a top??'' The top, [much different from a top]humanly speaking, is only known after some time has passed.But buying a top can be wise ; as selling a bottom[to open a position] is wise. Not talking about the bottom but a bottom, big difference
Wisdom is profitable to direct; bottom line is some buy a top because of trends[NOT the top ,] i wrote a top, big difference........................................................................
Scaleout.Scalper
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Most traders dont think about tops and bottoms, we just want a piece of the pie.