The delusional shorts have all been attacking me the last few days because I am one of the few voices of reality still left on this board. The reality is the futures have made new all time highs the last two days (As I predicted weeks ago). The other reality is that every short on this board is currently under water (some more than others). The other reality is that the market probably has anther 50 to 75 points of upside left before a top is put in. It you chose to stay on the same path that you have been on the last 120 points of upside, you will most likely be getting a margin call from your broker in the coming weeks. At that point, you will be forced to take your head out of the sand (or your #$%$) and accept reality. Although it will probably sting for a while, in the long run, it will probably be the best thing that every happened to you. Sooner or later, reality always catches up to delusion.
In the long run being long will be the worst thing. You are the most fos person on this board. For once, you will be right. But not until we clear the all time highs on spy NOT futures. which is 169.71. That is, a CLOSING high. Your delusion will be the reality, and once we high the all time highs. I will not say what I think they will be yet, and will be based on math models and fibanacci's not your sociapathic voice of agreement.
You called it right, both the 6% drop and this full recovery. Those scoffing must not have paid attention. I don't want to go long at this point nor am I short. I am in cash scratching my head. I want to short as I know this will eventually end an be the big winner trade but when? If you can call that one I will personally bow and throw flower petals at your feet.
"You called it right, both the 6% drop and this full recovery."
He didn't cash out his puts until 6/27. There is ZERO chance he "called" or played a full 6% drop and exactly when did he call the full recovery? You know it doesn't count if you wait until after it has happened. But if you are so good at keeping score, where does he think it's going from here before another pullback?
you earlier said:Today was the first day in this entire four week rally that the shorts were on the run. We saw heavy short covering today for the first time during this rally;..
.how come short interest is up 5.5% today with all the covering you're talking about?
you keep referring to "dumb money" vs "smart money".... there are many ways to measure this, but I have yet to find one metric that is accurate. This is usually an after-the-fact call and the losers are always referred to as "dumb money"... I mean is Paulsen smart money because he made a fortune in '08 or is he dumb money because he lost a ton after '10? you can ask the same of Gross and Gundlach if/when bonds tank more.
You know what, I'm going to take your side. From now on you and I are friends. This board is not made up of shorts... it's made up of delusional chronics. Look at IBDMAN, if he had actually done what he jokingly said he would do several weeks ago he would be laughing right now. Come on everyone, get a clue, just do the reverse of what you are all thinking and you will all be laughing too. Come on in, the water is nice. Eye and Kibbles will guide the way... lets all do it together ! :)
(PRAISE THE LORD)
Sentiment: Strong Buy
Tomorrow morning you will wake up to the reality of that the earnings coming out for most companies really does s,.u,..c,.,k. and does not justified this market at this delusional levels.
Baseless spectulation that can be turned upside down in one night.
what you base this on other than ,trend,hope and a bernanke bj.....you guys been pushing it for to long time for a big brake and a little fear
I've been in agreement with your call, and it worked out as you said.
But I have to say, Detroit filing for bankruptcy has me thinking that in the morning, rates could be on the rise, and things may look a bit different.
So far, the market is totally ignoring the 800lb. gorilla in the room. And with the new credit upgrade we just got, maybe the market does continue higher.
I'm having a hard time seeing it right now, other than the fact that the market doesn't seem to notice.
I think this is a huge deal, bigger than tapering was a while back.
Maybe I'm wrong.
I'll be watching the yield on the ten year note tomorrow morning, that should be a clue.
Not wanting to sound like a doom sayer, but Detroit gets to the heart of my pessimism. Could it lead to a cycle of increasing rates begetting more bankruptcies begetting ever increasing rates? If so the rest of the story would not be pretty.