Watching the markets

[canceled.2021.1]

So yesterday was a big down day. I said previously that 1800 would be major resistance for the S&P 500 and it appears I may have been right. Despite the fake "good" news on the jobs report, it looks like reality is beginning to set into the market. Earnings will probably disappoint going forward.

Since Topspin says I "NEVER" say what I am going to do beforehand, here is my plan for those who are interested

I am watching a key support level at 1775. I am also watching the monthly pivot point which is at 1788.52. Additionally, it looks like a head and shoulders is setting up. For those of you that don't know, a head and shoulders is a very bearish sign. To be sure it can give a false signal so we have to see how the next few days shake out
If these three things come to pass, it is a definite sell signal and I am shorting.

Right now, I am still in cash which I did when it first hit 1800 and it is looking like a good call. Now if the market doesn't do what I think it will do, I am going to go back long at 1820.

As always, I let price be my guide.

 

[canceled.2021.1]

Yup. Went short today. Head and shoulders still forming, but closed below 1775 and monthly pivot.

Stop loss at 1800. See what happens

 

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How embarrassing for Poopspin. He thinks I shorted "the market". I shorted the S&P 500 which I have always been clear about.

BTW Poopspin the S&P 500 was down today so I guess you pooped your pants again.

This is why Poopspin is on welfare

Gee I hope I don't get sued for saying Topspin poops his pants. Maybe JPP counsel will weigh in

 

[canceled.2021.1]

Poopspin is in a dither this morning


I guess he is a bit embarrassed.


I should state, my short position will only be wrong if the S&P goes back to 1800 and my stop loss is triggered.

I am also not betting against America. I am making money. the welfare queen Poopspin wouldn't understand that. He doesn't understand candle sticks or Fibonacci or any other sophisticated trading techniques.

He is just some loser flak who managed to hang on at a profitable company for 30 years and got a nice lump sum pension. I say good for him, but he is no investor.

Who loses 25% on Apple? Oh yeah, Poopspin does. I mean no savvy investor allows themself to lose 25% of their money.

 

[canceled.2021.1]

Poor Poopypants thinks the S&P "is the market". It is not. It is merely an index. Now it also happens to be an index with which most things are bench marked, but it is not "the market". It only contains 500 companies, hence the name S&P 500.

Now Poopypants is wrong. I have not "shorted six times". I have taken some short positions when it looked like the market was overbought and some sell signals triggered, but they did not hold and my stop losses protected me from any significant loss. I immediately went long and have rode the puppy up since November (something Poopypants conveniently ignores)

I can understand Poopypants jealousy of me. I have exposed his economic ignorance one too many times for him to bear and while he sits on his 25% losses from Apple, I just churn along making money in up markets and down.

But what is really funny is that Poopypants is saying my short call was wrong when the S&P was down for Friday, albeit a small bit.

The interesting thing about Friday's trading action is that it was very choppy and could find no discernible direction. A top has definitely formed and the head and shoulders is still in place, if the final right shoulder forms, look out. I am not saying it is 100% going to happen, just that these are the technical indicators as they are today. If they were 100% predictive of what the market would do, I would back up the truck and dump everything into a short position.

The funny thing is that all Poopspin has to do is ask me nicely and I would happily teach him some fundamentals of technical trading. Remember, Poopspin is the douchebag that wants you to believe that he makes 1000 trades a year

 

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Poor Poopspin thinks having a $500,000 pension is "rich"

 

[NOVA]

Thats one hell of a conversation you had with yourself......

Are you going "desh" on us ?

 

[canceled.2021.1]

Thats one hell of a conversation you had with yourself......

Are you going "desh" on us ?

Nah. Just fuckin with Topspin since I ban his dumb ass. As you can see it is having the desired effect. He starts threads about me