7 replies to this topic

[arbman]

We should see 2-3 day (MAX) dump here for 20-30 points and then turn around and make a higher high at the end of the month. It will take 2-3 weeks to top for any meaningful sell off, but the next sell off later in May can get heavy imo... This market should roughly sell the news from here, Google did not deliver for example.

I am afraid the summer months will be all over the map again as the markets blew off quite early now, do you remember the end of November-early December trading? What a complete BS that was... Kind of like that!

My reference remains, only we just had this throw over the red line on that chart and it made the trading more likely on the short side...

I would like to sell short, but it is more prudent to wait for the next high, it should happen. This market will build quite a slow high... Enjoy the ride!

[fib_1618]

I would like to sell short, but it is more prudent to wait for the next high,

Yes, it's still way to early to short in anticipation of a trend as the momentum highs of this move are still ahead of us once we finally do peak out.

Right now...I'm looking for sometime in June, maybe July, before we'll see a price top worth trading for more than a day or two.

In the meantime, hit and run trading will continue to be the way to go for those who have an overwhelming urge to short.

Fib

[atlasshrugged]

I would like to sell short, but it is more prudent to wait for the next high,

Yes, it's still way to early to short in anticipation of a trend as the momentum highs of this move are still ahead of us once we finally do peak out.

Right now...I'm looking for sometime in June, maybe July, before we'll see a price top worth trading for more than a day or two.

In the meantime, hit and run trading will continue to be the way to go for those who have an overwhelming urge to short.

Fib

that isee number is soooooooooooooooooo tempting....but i aint taken the bait....

[arbman]

The 400 dma will turn up in about 2-3 days. When 200 dma turned, it created a lot of excitement. Many models are basically forced to buy as these moving averages turn... By the moving averages AND the CPCE, this is early January 2004. It took about 3 weeks to top back then... But we may see a 20-25 points pull back initially here for 2-3 days... BTW, by that measure 1230 can be done easily, but I would like to see the pull back first... Actually my official target is 1280 now, it is the second standard deviation of the 20 month moving average, it looks achievable to me in the next few months...

Edited by arbman, 15 April 2010 - 07:33 PM.

[IndexTrader]

I think we're getting ready to react down...sure "feels" like it to me. IT

[arbman]

I think we're getting ready to react down...sure "feels" like it to me.

IT

Any sell off that reaches extreme internal reading above 1175-1180 is a buy at this moment, FOR A NEW RECOVERY HIGH!

[IndexTrader]

I think we're getting ready to react down...sure "feels" like it to me.

IT

Any sell off that reaches extreme internal reading above 1175-1180 is a buy at this moment, FOR A NEW RECOVERY HIGH!

I agree with that too. But first...... (reminds me of an old joke).

IT

[milbank]

I would like to sell short, but it is more prudent to wait for the next high,

Yes, it's still way to early to short in anticipation of a trend as the momentum highs of this move are still ahead of us once we finally do peak out.

Right now...I'm looking for sometime in June, maybe July, before we'll see a price top worth trading for more than a day or two.

In the meantime, hit and run trading will continue to be the way to go for those who have an overwhelming urge to short.

Fib

Hit and run and hit 'em again. You've been doing yeoman's work here over the last month keeping everyone sober Fib.

Edited by milbank, 15 April 2010 - 08:20 PM.