We've got a lot of cocky bulls and extremely nervous shorts.
Market is priced to perfection - they say housing has turned the corner, recession is almost over, earnings have bottomed, and SPX could go up another 10% by end of August.
The way I see it, the SPX 1000 area would be max for this move up and first target of the ensuing
decline is 920/925
Cocky + Nervous shorts = bear is back
Started by
dTraderB
, Jul 28 2009 12:25 PM
4 replies to this topic
#2
da_cheif
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Posted 28 July 2009 - 12:41 PM
We've got a lot of cocky bulls and extremely nervous shorts.
Market is priced to perfection - they say housing has turned the corner, recession is almost over, earnings have bottomed, and SPX could go up another 10% by end of August.
The way I see it, the SPX 1000 area would be max for this move up and first target of the ensuing
decline is 920/925
dint u tell us that in early june????
#3
porsche911sg
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Posted 28 July 2009 - 01:00 PM
No!!! the recession is really over in most parts of Asia, Travel there and you'll believe it!We've got a lot of cocky bulls and extremely nervous shorts.
Market is priced to perfection - they say housing has turned the corner, recession is almost over, earnings have bottomed, and SPX could go up another 10% by end of August.
The way I see it, the SPX 1000 area would be max for this move up and first target of the ensuing
decline is 920/925
I can't see the recession in most of asia!
The market catches almost everyone on the wrong side. We always seem to get fake break out before that huge dump or the hugh dump before the false break down! Trade Safe!
#4
zoropb
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Posted 28 July 2009 - 01:47 PM
With NDX taking out the highs I am IT neautral again and vst Ts only both ways.We've got a lot of cocky bulls and extremely nervous shorts.
Market is priced to perfection - they say housing has turned the corner, recession is almost over, earnings have bottomed, and SPX could go up another 10% by end of August.
The way I see it, the SPX 1000 area would be max for this move up and first target of the ensuing
decline is 920/925
Love, be kind to one another, seek the truth, walk the narrow path between the ying and the yang.
#5
TheArchitect
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Posted 28 July 2009 - 01:59 PM
With NDX taking out the highs I am IT neautral again and vst Ts only both ways.
that 2:00 bar now looks like distribution.
