The Final Market Top 1/11/10

[SpreadDestroyerr]

Mark it down. Primary wave 3 (the largest) begins today 1/12.

 

[kuwlness]

Mark it down. Primary wave 3 (the largest) begins today 1/12.

Elliot Wave (EW) is an idiot. I dont believe in his theory, it's a load of crap. Use Fibonacci if you want retracement points. But market isnt topping here. 1250, then we stop. Although, I admit we're over-due for a nice retracement back to 1080, just dont think we'll get it this month.

Earnings will determine where we're heading, and I dont see the big correction with the Chinese New Year around the corner which usually spurts more buying.

GL with EW, I dont think you'll get far.

 

[SpreadDestroyerr]

The indexes have hit the 61.8 Fibs. GL!!

 

[kuwlness]

You still think we're topped out?

 

[DeathEatsaCracker]

This Elliot Wave stuff is a bunch of nonsense. According to SSI, we were supposed to retest the March 09 lows last October.

If you look at a chart long enough and go back far enough, you can make it say whatever you want.

I realized technical analysis didn't work when I turned the charts upside down and didn't get a different answer.- Warren Buffet

 

[SpreadDestroyerr]

You still think we're topped out?

Absolutely

 

[Seymour]

12/31/10 DOW closes over 13k

The fear is over - people are eating those canned goods they were supposed to stockpile for when the US became a disbanded country

 

[SpreadDestroyerr]

12/31/10 DOW closes over 13k

The fear is over - people are eating those canned goods they were supposed to stockpile for when the US became a disbanded country

Not a chance in hell.hno:

1/11/2010

1149.74 S&P Top

 

[kuwlness]

Not a chance in hell.hno:

1/11/2010

1149.74 S&P Top

Good chance we break that "top" tomorrow ... JPM's crappy earnings will probably hurt the S&P on Friday, but Tuesday we should be back in rally-mode. At 1250 start firing the short bombs ... but I wouldnt short the China stocks.

 

[kuwlness]

Not a chance in hell.hno:

1/11/2010

1149.74 S&P Top

Where's the next top? :think2:

 

[UltF]

Lol!

 

[SpreadDestroyerr]

Where's the next top? :think2:

There isn't a next top.... the top is IN. Naz topped on my 1/11 date.

 

[SpreadDestroyerr]

Lol!

we'll see who has the last laugh<<

 

[SpreadDestroyerr]

Good chance we break that "top" tomorrow ... JPM's crappy earnings will probably hurt the S&P on Friday, but Tuesday we should be back in rally-mode. At 1250 start firing the short bombs ... but I wouldnt short the China stocks.

Don't short China? Look at the daily charts of FXI and FXP and you tell me which one is rolling over .....

 

[kuwlness]

Don't short China? Look at the daily charts of FXI and FXP and you tell me which one is rolling over .....

Dont short China stocks that are US-listed. I dont follow the Shanghai, Hang Seng, or the Nikkei. China stocks have been the biggest gainers of the S&P, Nasdaq, and AmEx in 2009 and are already off to the most significant gainers of 2010.

FXI and FXP are short-term leveraged ETFs ... I would never put my money in an ETF, I dont need someone to put my money to work for me, I do my own research.

I wouldnt put money in emerging markets right now ... in fact, I've been recommending people take money out of the emerging markets. However, China isnt exactly an Emerging Market anymore, it's a monarchy that will take the world by surprise in 2010 and beyond.

 

[SpreadDestroyerr]

You guys have to give props where they are due....I called the top before it even began to show one crack. It's one thing to call a top on a big down day in hindsight but to step out there when Mr. Market is roaring is FLAT OUT SICK!

 

[SpreadDestroyerr]

~~:<<:assmad:

 

[DeathEatsaCracker]

Don't throw a shoulder out patting yourself on the back.

It's not the whole world didn't know 1150 was a strong resistance point. We should be back on track soon enough.

 

[Dawoofdaddy]

Dude, you were jumping up and down posting the s/p would be sub 880 back in September.

http://www.therxforum.com/showthread.php?t=711281

Pat yourself on the back when the sp falls another 250 points.

:howdy:

 

[SpreadDestroyerr]

Don't throw a shoulder out patting yourself on the back.

It's not the whole world didn't know 1150 was a strong resistance point. We should be back on track soon enough.

YEAH RIGHT!!!!!!!!!!!!!!!!!!!!!!

LOL:assmad:

Until you call something of significance, STFU!!!!!!!