Will the S&P go to 1000 or 1200 ?

[galvinlee888]

Quote from galvinlee888:

Despite all the not so good news, market up again now ! I am not saying it won't go down, but now seemed so many herds are on buy side, why not just follow the trend until the reverse happen ?

Long Long Long !

BTW - The market keep on moving up, just add in my position. Bear - still waiting for your reversal ?

 

[fly down]

Quote from galvinlee888:

Despite all the not so good news, market up again now ! I am not saying it won't go down, but now seemed so many herds are on buy side, why not just follow the trend until the reverse happen ?

Long Long Long !

Not to 1200. Maybe 1140-1150 tops. I just don't see it making it to 1200.

 

[MKTrader]

Quote from galvinlee888:

Despite all the not so good news, market up again now ! I am not saying it won't go down, but now seemed so many herds are on buy side, why not just follow the trend until the reverse happen ?

Long Long Long !

I don't think you're reading this market right. The first 10 days of August were almost identical to the last few weeks--price, volume and volatility. It wasn't pretty after that.

We may get a false breakout to really shear the dumb money, but watch out below if we do.

 

[fly down]

Quote from MKTrader:

We may get a false breakout to really shear the dumb money, but watch out below if we do.

I agree with you on this part. But I think the false breakout is S&P 1140-1150. I don't think it can get much higher than that.

 

[failed_trad3r]

We will see 1300 before 1000, now I am sure of it. This weeks action scream of a new and improved bull market.

 

[Tsing Tao]

Quote from failed_trad3r:

We will see 1300 before 1000, now I am sure of it. This weeks action scream of a new and improved bull market.

really?

this weeks action of no volume, no movement makes you think we're in a new bull market?

you're channeling your moniker arent you.

 

[MKTrader]

Quote from Tsing Tao:

really?

this weeks action of no volume, no movement makes you think we're in a new bull market?

you're channeling your moniker arent you.

Exactly. See the first 7 trading days of August. Practically identical to now: it started with a gap, traded the same range, same low volatility and same pathetic volume. Most likely course is back down (just like August) or false breakout then back down.

 

[Nine_Ender]

Quote from MKTrader:

Exactly. See the first 7 trading days of August. Practically identical to now: it started with a gap, traded the same range, same low volatility and same pathetic volume. Most likely course is back down (just like August) or false breakout then back down.

RIMM and ORCL reported tonight plus commodity prices have risen to high levels. Please explain how you have factored these recent events ( that have occurred in September ) into your model. If this still suggests a "false breakout" ( in your opinion ) what would have to occur to create a real rally ? Please be specific the market pays attention to news and commodity prices you should too.

 

[S2007S]

Bulls are getting happy by the second with this market, they have that oh so good feeling that the market is going to just keep going and going. Kind of gives me a good laugh when I see this kind of attitude in the market. The other thing I find funny is the way everyone jumps to conclusion that this is a brand new raging bull market. Right, the biggest credit crisis in history has disappeared and the new bull market is back, hahaha, I love how dumb and foolish bulls can be. There is no new bull market and there is no turn around in the economy.

 

[S2007S]

Quote from Nine_Ender:

RIMM and ORCL reported tonight plus commodity prices have risen to high levels. Please explain how you have factored these recent events ( that have occurred in September ) into your model. If this still suggests a "false breakout" ( in your opinion ) what would have to occur to create a real rally ? Please be specific the market pays attention to news and commodity prices you should too.

Even if the SPX rallies hard for another 14 months and jumps another 40% to new highs the next collapse will drop it right back down 50%, there isn't anything that can sustain these types of rallies in the market, the bulls should be thanking bubble ben bernanke and the government for the free fucking handouts they gave the banks and the entire global economy with worthless monopoly dollars to sustain this false breakout in gdp growth.