NO ONE can argue with ANYTHING I wrote here over 6 months ago! Its all come to pass exactly as I stated.
kibblesmomma • Apr 11, 2013 7:01 PM 11users liked this postsusers disliked this posts14Reply
a quick lesson on "all time highs" and why it can go much higher
It's actually quite simple, take all your fundamental and technical rules and put em aside for a minute
Always remember this: No long is losing at all time highs. None. as such, they have no primary reason to sell. They can just move up their stops, be them mental stops or automated stops and relax. Longs have no tension being in a winning position with no obvious resistance to worry about.
So, for the many many people here who are banging their heads against the wall saying "how can this still be going up?" It's easy. No one is in a losing position. The sellers are gone. The reason to sell is gone. They are sitting back and watching the show. This is why even the magical son of mine, Kibbles couldnt make any money today shorting.
Look at a volume by price graph and notice all the volume is way below the current area.
What will it take for this to crack? An event most likely. Otherwise we could easily drift along here. Most major tops take months and months to form before the market resets with a true bear market.
So, those who are in shock at this market are simply inexperienced. Tops take a long time to form before they bust, and bottoms happen infinitely faster.
The smart ones ride the trend up until it ends, no matter how absurd it may be, stop trying to guess when it will end. Keep buying until it doesnt work. The long term trend in the market is always up, so shorting is always the tougher of the two directions to get correct.
If you can recall the internet bubble, that was overbought a good three years before the March 2000 peak but the long term trend is up and you ride it until it stops.
You knew I was gonna have to bump this up again.
Can we go a full year with my post explaining to exasperated shorts why they shouldn't bother shorting at or near all time highs?
Best advice this board ever received.
how right you are..i remember naz 3500 was a huge bubble but it still went up to 5000.
sp could run to 2200-2400 before its all over, i think we get 1 more 10-20 pct retrace to reset for a move to the top but who knows.
gotta bump this again to for credibility purposes.
I rarely post to the board anymore since no one really wants to talk about trading, just "ha ha I called it!" and the original post of this thread from over 6 months ago is still the greatest "I called it in real time" post ever
theres 1 of 2 outcomes you could have chose. you chose one side with a 50% chance of winning. contrats.
do you bet black or red on roulette? I think my black is better than your red. I'm smart.
you're absolutely wrong.
I said this top, like all major all time high tops take many, many months to form before they finally crack.
I said keep staying long no matter how ridiculous it may seem until a major event happens and blows it all up.
I called this in real time like no one else has come close
I told you what would happen and why. All before it happened.
It's all here in all its glory.
Hands down, the best post this board has seen in years.
sorry, but in the interests on credibility, I intend to bump this post up everyday we are at, or within 2% of, all time highs
this board does have some intelligent content, ya just gotta weed thru the endless uselessness
You were absolutely correct my friend (and smarter than most). But just acknowledge you are playing a game of musical chairs... Uptrend based solely on QE and chasing; and margin debt above 2007 high. Everyone is buying for the same reasons and they've admitted as much. These reasons combine to form a terrible foundation for what's left of this "bull" market. I hope you're quick to find a chair... Because when the music stops the fall is going to be staggering.