S&P corrected 9 points from Friday's high to today's open. That is healthy. I just would like to remind everyone who is shorting that indexes do not go down any more. It will be a victory for bears if the market is unchanged today.
Denleo
That was a healthy 9 point correction
Started by
denleo
, Jun 04 2007 11:13 AM
15 replies to this topic
#3
NAV
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Posted 04 June 2007 - 11:39 AM
S&P corrected 9 points from Friday's high to today's open. That is healthy. I just would like to remind everyone who is shorting that indexes do not go down any more. It will be a victory for bears if the market is unchanged today.
Denleo
So, are you long now?
#4
denleo
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Posted 04 June 2007 - 11:43 AM
Scalping on the long side. So far so good.
Denelo
I will probably be long after the next 5-point S&P bear market.
Denleo
#5
jjc
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Posted 04 June 2007 - 11:52 AM
It feels like a "teaching process", where all good students learn that the US market does not crash when the China market does.
#6
Tor
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Posted 04 June 2007 - 11:52 AM
S&P corrected 9 points from Friday's high to today's open. That is healthy. I just would like to remind everyone who is shorting that indexes do not go down any more. It will be a victory for bears if the market is unchanged today.
Denleo
Its true. I went short but it is possible the correction is already over with the evidence pointing to more new highs still.
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#7
denleo
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Posted 04 June 2007 - 12:00 PM
It feels like a "teaching process", where all good students learn that the US market does not crash when the China market does.
We are not Chinese. We are Americans. Why would we care what happens to them?
Denleo
#8
jjc
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Posted 04 June 2007 - 12:12 PM
It feels like a "teaching process", where all good students learn that the US market does not crash when the China market does.
We are not Chinese. We are Americans. Why would we care what happens to them?
Denleo
I agree. Why should we; As a matter of fact, if they keep trying to posion my son's or my dog's food
supply, I wish them a speedy trip to hell, however that is not the point.
#9
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Posted 04 June 2007 - 12:20 PM
Every other perma bear i used to know on various message boards have turned bullish. Why not ? All trendicators are looking bullish ! Trend on 5-min charts to monthly charts are all up ! ATH on SPX is one monster gap-up away !. Nothing, absolutely nothing can go wrong in this kind of an environment, if one is long. The chinese investors probably went to sleep yesterday night with the same feeling !. I don't trade on sentiment, but a believer in sentiment, nevertheless. Me thinks a nasty plunge is coming soon, just based on sentiment alone !.
#10
jjc
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Posted 04 June 2007 - 12:34 PM
Every other perma bear i used to know on various message boards have turned bullish. Why not ? All trendicators are looking bullish ! Trend on 5-min charts to monthly charts are all up ! ATH on SPX is one monster gap-up away !. Nothing, absolutely nothing can go wrong in this kind of an environment, if one is long. The chinese investors probably went to sleep yesterday night with the same feeling !. I don't trade on sentiment, but a believer in sentiment, nevertheless. Me thinks a nasty plunge is coming soon, just based on sentiment alone !.
I agree, however I don't think it's going to come out of the blue it will be controlled. And it's not going
to be easy to short; Lots of stop running. I will likely go short this afternoon for a quick play however
I'll be quick on the profit trigger.
