Will the S&P hit 1000 or 700 first?

Which will the S&P hit first: 1000 or 700 ?

  • 1000

    Votes: 78 27.2%

  • 700

    Votes: 167 58.2%

  • ban this guy! he MUST be selling something

    Votes: 43 15.0%
  • Total voters
    287
The overnight up-run of ES futures provided a good fade this gap-up opening. 714 or so back down to 694.

Perhaps a lot of margin calls kick in. Thanks to the die-hard longs who borrowed to bottom-fish.
 
VERY strong vix and mkt action divergence. Indicative of perhaps a pretty strong one or two day rally (after todays close) if the day closes with the same divergence. Lets see what happens, lots of trading day still left for that to change though. But something to keep an eye on as these don't come about very often from what I've seen.
 
Quote from R. Raskolnikov:

VERY strong vix and mkt action divergence. Indicative of perhaps a pretty strong one or two day rally (after todays close) if the day closes with the same divergence. Lets see what happens, lots of trading day still left for that to change though. But something to keep an eye on as these don't come about very often from what I've seen.
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I disagree. The market is in shambles. People are now seriously debating on whether it is worth cashing out their 401(k) now before they have nothing. Especially people close to retirement. True unemployment is now over 10%. Many people have given up looking for a job and are not included in the calculations.

If there is any attempt at a rally, it will be very short-lived. There is blood in the streets and everyone is bleeding.

Buying now for long-term (10+ years) wouldn't be a bad move for long-term investors since many stocks are trading at very repressed P/E ratios.

Unfortunately, there is no trust anymore. Trust was always the foundation of solid business and a solid economy. Scam after scam has left most investors completely weary and distrustful of most investment instruments. It will take a lot of time to heal those wounds.

I don't believe the S&P will hit 500 but I could see it going to 600-650 before stagnating. It could level off and stagnate for months.

There is not one shred of positive news for the economy right now except to say that some people can still eat out at nice restaurants from time to time. Most people are either worried about layoffs, worried about retirement funds or worried about extended family.

This is a depression. This won't go away tomorrow, but it will get better with time. It won't be any time soon, though.
 
Quote from B. Rowshan:

Mr. rowshan is going for another winner!!

Mr. rowshan is sure the S&P will hit 700 before it hits 1000. Current price 851.8

There are alot of ways to make $$ here. One way is to sell S&P premium over 1000. If this thread is civil, mr. rowshan will give other ways to profit from knowing the S&P will see 700 before 1000.
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nice call!

you deserve to start another poll and spice it up with your brilliant insights.
 
Quote from B. Rowshan:

Thanks for the kind words.

My 2 best calls ever on ET are as follows:

1) I called the 2007 S&P top AHEAD of time:

http://www.elitetrader.com/vb/showthread.php?threadid=94442&perpage=6&pagenumber=4

I am ghostzapper in this thread. If you read the thread you will understand my mindset, and the mindset that enabled me to ride the S&P down to 700 today.

2) I started a thread in September 2008, with the S&P @ 1250, asking whether the S&P would hit 1000 or 1500 first. I emphatically stated in my 1st post on the thread that it would hit 1000 first, and ALOT sooner than people think. I was proven correct in only 1 month! Unfortunately, the thread was deleted, don't ask me why.

Yes, I watch WWE wrestling, and enjoy playing the villain on ET. But if you were smart enough to follow my aliases and the calls that went with them, you know that my record of making great calls is outstanding. These type of calls are part of my overall strategy that has enabled me to have 15 consecutive double digit profitable years in the stock market (audited). I have also been fortunate enough to have made over +100% in the last year alone.

The S&P will see 500 in 2009.
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LOL!!! Post the audit or you are a liar you twit. Why would you have it audited unless you are selling something, what a jackass. A chimp could have nailed a bear call in this enviroment, friggen douchebag. I thought you got banned you prick.

Best wishes,

Rennick:cool:

ps. Rowschwanz thought he had a hair, until it peed.:D
 
did you even read my quote before disagreeing? I never said the mkt wasnt in shambles, I merely said the vix divergance today points to a potential one MAYBE two day rally. Nothing more, nothing less. Your post back to me addresses many topics that have nothing to do with my quote.

I don't disagree with what you are saying necessarily, but your reply is quite off topic with regards to my quote below:

"VERY strong vix and mkt action divergence. Indicative of perhaps a pretty strong one or two day rally (after todays close) if the day closes with the same divergence. Lets see what happens, lots of trading day still left for that to change though. But something to keep an eye on as these don't come about very often from what I've seen."


Quote from aphexcoil:

I disagree. The market is in shambles. People are now seriously debating on whether it is worth cashing out their 401(k) now before they have nothing. Especially people close to retirement. True unemployment is now over 10%. Many people have given up looking for a job and are not included in the calculations.

If there is any attempt at a rally, it will be very short-lived. There is blood in the streets and everyone is bleeding.

Buying now for long-term (10+ years) wouldn't be a bad move for long-term investors since many stocks are trading at very repressed P/E ratios.

Unfortunately, there is no trust anymore. Trust was always the foundation of solid business and a solid economy. Scam after scam has left most investors completely weary and distrustful of most investment instruments. It will take a lot of time to heal those wounds.

I don't believe the S&P will hit 500 but I could see it going to 600-650 before stagnating. It could level off and stagnate for months.

There is not one shred of positive news for the economy right now except to say that some people can still eat out at nice restaurants from time to time. Most people are either worried about layoffs, worried about retirement funds or worried about extended family.

This is a depression. This won't go away tomorrow, but it will get better with time. It won't be any time soon, though.
More...
 
Quote from aphexcoil:

Unfortunately, there is no trust anymore. Trust was always the foundation of solid business and a solid economy. Scam after scam has left most investors completely weary and distrustful of most investment instruments. It will take a lot of time to heal those wounds.
More...
I agree with that. Besides the Madoff and Stanford cases, I think the much bigger one are those toxic CDOs. Purely a Wall Street creation. Countries after countries around the world bought them because they had AAA ratings. And only to face huge losses. I am sure many countries are very skeptical of any US financial instuments now, and probably will be for a long time.
 
Quote from Bolimomo:

[B I am sure many countries are very skeptical of any US financial instuments now, and probably will be for a long time. [/B]
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Most everybody seems to be afraid of all financial instruments, but I don't see the US getting beat up more than the rest of the world. From what I've read, Europe is in the same straights, without a tested central authority. The dollar bubble has the most air in it, for now.
 
Quote from William Rennick:

LOL!!! Post the audit. Why would you have it audited unless you are selling something
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Wow! Jealousy really sucks doesn't it rendick? LMAO!!

Yes, I did need audits to "sell something", to sell my hedge fund. it's well known amongst non-pikers that I have run an wildly successful hedge fund since 2003. Sorry if that makes your blood boil, live with it you parasite.

Now go back to paying a service to tell you the direction of the market. Too bad you didn't follow ghostzapper. In the midst of the BIGGEST BULL market of all time, ghostzapper called for the end. Even a chimp like yourself can see that for what it really is..a great call made AHEAD of time and w/o the need to pay a coin to tell you market direction.
 
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