Re: 01/20/2012 Intraday Watering
Posted: Fri Jan 20, 2012 5:10 pm
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The Intraday US Stock Market Discussion Board
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Is a computer a bull?tdo722 wrote:wow, god damn bulls managed to squeeze out a green day after all. amazing!
I saw it as well. But was his previous prediction accurate before?trader_jay wrote:Good news and bad news for bears:
On Bloomberg a few moments ago, DeMark just called the market will top out next Tuesday. But it will be 20-30 ES points away.
I'm not sure that's necessarily the case. I think they decimated the funds this summer, who traded both ways. And then in the mid-August to Oct 4th chop I think they nailed them 6 or 7 times and the volume we see here is that many have quit.Richarab wrote:Not bloodied. GuttedPetsamo wrote:The bulls were bloodied this summer. Time to bloody the bears?EFA wrote:How long can euphoria last before reality hits though? I'm scared to go long at these levels!Petsamo wrote:We have euphoria! Everything is peachy keen! Those bears are a bunch of dummies!
FinancePhD wrote:I saw it as well. But was his previous prediction accurate before?trader_jay wrote:Good news and bad news for bears:
On Bloomberg a few moments ago, DeMark just called the market will top out next Tuesday. But it will be 20-30 ES points away.
His prediction seems okay but his timing is about a month off. He said 1330 by december 23rd then game over for bulls.trader_jay wrote:He nailed this rally from Nov, when spx was about 100 points lower.
FinancePhD wrote:I saw it as well. But was his previous prediction accurate before?trader_jay wrote:Good news and bad news for bears:
On Bloomberg a few moments ago, DeMark just called the market will top out next Tuesday. But it will be 20-30 ES points away.
tdo722 wrote:His prediction seems okay but his timing is about a month off. He said 1330 by december 23rd then game over for bulls.trader_jay wrote:He nailed this rally from Nov, when spx was about 100 points lower.
FinancePhD wrote:I saw it as well. But was his previous prediction accurate before?trader_jay wrote:Good news and bad news for bears:
On Bloomberg a few moments ago, DeMark just called the market will top out next Tuesday. But it will be 20-30 ES points away.
How do I 'like' this post!stlwater wrote:Or... maybe he's just wrong? And that is why his "timing" is "off"?
Hey I can be right about market calls too, in fact I often am, and if I am wrong just give it time, eventually I will be right. Seriously anyone can mark a support or resistance area, proclaim that it'll be the bottom or top, but that won't necessarily make it one! Please, does he have a crystal ball?? You guys don't trade by this stuff do you? Seriously, I hope not. Gaaadds. Anyone picking a top (like so many in TVIX over the past two weeks) are getting their heads handed to them on a gold plated platter that they paid for. Don't try to catch a falling knife or stop rocket with your hand.
Is there overhead resistance ahead? Sure. Will there be a reaction at it? Probably. Will it be a top?? Depends how you define a "top" I guess. I'm sure whatever happens there will fit into his definition of a "top" or like other prognosticators his calls will be forgotten soon after they are made. I can look back at a lot of "tops" which are now below us.
I bought the December top... I added to longs today.
GLTA