35854 replies to this topic

[bullsnbears44]

Are there any bulls on this forum?

[bullsnbears44]

Also went short around 44,644 you recon it will drop below 44,000 soon? I don't like keeping open positions over the weekend

I think 44k should hold today. I can see it dropping below next week only. But the market is a funny beast.

[BlythZ]

Short again... now we go back to that 43950 and beyond

Also went short around 44,644 you recon it will drop below 44,000 soon? I don't like keeping open positions over the weekend

[Mostlya]

Lol... remind me not to jump ship and take a long scalp half way in between.... need to hold the short for the full leg down

It's incredibly tempting especially when all the charts from 5min - 5 hourly are screaming oversold. Yesterday was a prime example but all those gains are hopefully erased soon and then no damage is done. Good luck

[Ninja]

Lol... remind me not to jump ship and take a long scalp half way in between.... need to hold the short for the full leg down

[Mostlya]

Short again... now we go back to that 43950 and beyond

Glad to hear it. March and April could just be very dark times for the markets.

[Ninja]

Short again... now we go back to that 43950 and beyond

[Mostlya]

The trick here is to try and be short the day da bubble pops.... without getting killed in the upside blowoff

100% agree

[Mostlya]

Don't despair... when bears start giving up that's when the downside party is about to start

2 450 on the S&P and just a little under 22 000 is the 200% fib using the high in 2007 as the top and the start of the rally in 2009 as the bottom. The 1.618 Fib was a major resistance that seriously slowed the market up and was in fact the level that the last correction at the beginning of 2016 occurred from. It hit 2 400 last night and I can't see it moving higher than that 2 450 level without a correction of some sort. As you've noted RSI is above that key 80 level and there's no instance in recent memory of the market sustaining a rally once it's in that overbought territory.

 

Yesterday had that blow-off top feeling but it might just want to get to the 200% fib first before the big boys start loading in the shorts. At this point I wouldn't be surprised if the US comes in and buy up those remaining 50 point today all in one shot.

 

It's fairly obvious that all other markets are aware of the situation because there's really no momentum to any of the buying that's happening. Today the JSE is basically only green because of MTN. Slight rand weakness contributing to it but certainly what I wouldn't call excitement over this mind-blowing US rally.

 

Is it just me or are there signs of stagflation all around? Not just South Africa anymore. An obvious outcome when you suppress interest rates but politics will always dictate global markets and central banks must first make the mistake before they believe the logic.

[Ninja]

The trick here is to try and be short the day da bubble pops.... without getting killed in the upside blowoff

[Ninja]

Don't despair... when bears start giving up that's when the downside party is about to start

[bullsnbears44]

Not nice when bears go quiet... remember sp500 rsi is almost at 100

Only one way from here.... down

And everything will come down with her

At the rate the US has been going I wonder if we'll see that drop anytime soon. Markets there have been overbought for weeks already.

[Ninja]

Not nice when bears go quiet... remember sp500 rsi is almost at 100

Only one way from here.... down

And everything will come down with her

[bullsnbears44]

So much for the US sell down. It's an amazing thing to watch that's for sure

Bubbles are always amazing before they pop :-D

[Mostlya]

Looks to me like the US is setting up for an afternoon of selling. Nice bounce for longs to start covering. Then again that line of rational thinking has been faulty since the election.

 

If it does sell though this is a great opportunity for the ALSI to move through 44K and head towards the weekly 200MA at around the 42 700 level. I'm targeting that level to cover some shorts.

So much for the US sell down. It's an amazing thing to watch that's for sure

[Ninja]

Bear chow bull... bull chow bear world we living in

[Ninja]

Top of channel is around 45270

[Ninja]

My longs are a bright green

[Mostlya]

Absolutely. Yet here are with 12 consecutive days of all time highs on the markets. Madness

Looks to me like the US is setting up for an afternoon of selling. Nice bounce for longs to start covering. Then again that line of rational thinking has been faulty since the election.

 

If it does sell though this is a great opportunity for the ALSI to move through 44K and head towards the weekly 200MA at around the 42 700 level. I'm targeting that level to cover some shorts.

[bullsnbears44]

Around the same time the US should raise interest rates too and that should re-focus the market on the reality of things. The discontent/hatred that the Republican party has for Trump is going to make everything and anything he wants to do very difficult.  

Absolutely. Yet here are with 12 consecutive days of all time highs on the markets. Madness