Will the S&P go to 1000 or 1200 ?
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FYI This is my only account ask the admins if you don't believe me.
Secondly, some of you guys seem to attack any market move or idea with the slightest bit of bullish sentiment or even a balanced sentiment.
For example, I am actually short today on several investments, and hoping for some follow through at the close. I am concerned that I could be too early on the mild corrective action I expect on some stocks.
With respect to earnings, ignore the low ball estimates for a while and simply look at actual dollar earnings ( and associated P/E ). Numerous companies registered very strong results; this naturally makes trading more difficult right now because the market can go in either direction. Bad earnings and we'd be selling off. Didn't happen. So the most likely market now is a range somewhat higher then the range we traded earlier this year. I could be totally wrong, but my instincts are saying range with high/low underdetermined until we establish a top.
But where the index goes doesn't matter to me. There are plenty of trading opportunities right now with significant stock divergence that is the sign of a healthy market.