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Until we either break above 1120(on volume) or fall below the 1092 (bottom of the 60 minute trendline), there is nothing to do here except let the market show it's hand. Until someone can get me comfortable how to address the following items, you couldn't pay me to get long for more than a daytrade.1. Increased government regulation(leads to deflation)2. Higher taxes (leads to deflation)3. Record Leverage on consumers, who comprise 70% of GDP (leads to deflation)4. Escalating valuations on the S&P that do not support current prices5. Growing unemployment(and even higher underemployment)6. Tougher lender underwriting standards (leads to deflation).7. Threat of higher interest rates (leads to deflation). 8. Record govt deficits9. The intermediate term technical indicators I mentioned yesterday. 10. Per my readings (McHugh), over 80% of the gains have come on Mondays. Over the past 4-5 months, Mondays have been up over 90% of the time. I'd love to read any intelligent post that can claim the bullish case.In sum, the bulls better keep drinking the Kool-AidAs usual, oil and the S&P are trading side by side today, but what else is new.
Jeff:For a rank amateur you are a pretty arrogant fellow. I am getting tired of your constant characterization of bullish traders as people who are drinking kool aid.You,sir,are the one drinking that stuff. Learn how to trade. Learn how to pay off wagers you make.Bye.
Congratulations Carl,You have your fan-club here in Greece!!! (www.neoforum.gr)Very well done. Impressive analysis!!! Excellent.
Carl, I am still peeling myself off the floor from your comment above. I was debating about buying one of your books for Jeff, but then I remembered, you can lead a horse to water, but you can't make him drink the 'kool-aid'. Good riddance Jeff, have fun asking your parents for more cash...
...not easy to take charge but Carl is a leader bearing a chest full of stripes and colors...I'm sure it was not easy to do and Carl was patient long enough to give Jeff plenty of time to redeem himself but he lacked the character to do so which is unfortunate as he did at one time stimulate some thinking on various possibilites.
Looks like NQ is dragging down ES.
Kool-Aid tastes good!But then I am assuming it is a drink that refreshes.Does it mean something else? Please pardon my ignorance.They associate Kool-aid with some of those guys on CNBS. No wonder they always look so refreshed. They should be, with all the money they are making just for being screaming shills.
I was wrong -- it was ES who pulled NQ up.
kishore:Google "jonestown massacre".In 1978 a fellow named Jim Jones killed 900 of his cult members by giving them cool aid (a sweet children's drink - similar to fruit juice but without the fruit) laced with cyanide.So people who drink "cool aid" are people who are members of a cult, unreasoning, and about to commit suicide.
Thanks Carl!I did hear about crazy Jim Jones and his cult long time ago but I had no idea that it was the Kool-aid that was used. Bad people can give bad name even to otherwise good things!
poor carl. he suffers fools but not critics.
JeffYour arguments are rational.Carl - I presume you havent seen Jeff's trading record. How do you know he is a 'rank amatuer?'You have not seen mine either but I can assure you I am not an amateur, have been doing this for 30 years and make a number of 5 figure donations to charity each year. Jeff may be the same. How do you know? I am max short for your information and I actually think Jeff is right.
Catherine, Jeff could very well be right, and probably will be, only because his views are always changing in retrospect. Problem is, he is always absolute in his statements, up or down. This is an educated community of traders, we don't disrespect each other like Jeff did several times. Do yourself a favor and read a good amount of his posts - and you will understand. Also, know that the majority of his posts were not his own work, as he was caught plagiarizing several times. Furthermore, no need to attempt to validate yourself to this forum. This is the internet. The 'millionaires' are usually living in their parent's basement trading with accounts under $5k, while the true traders are a bit more humble. You may have a fantastic track record, but I can view Carl's, and it speaks for itself. I am max long (from SP 1096) and I actually think Carl is right.
Every market has two sides all the time. It is important not to express contempt for the person on the other side of your trade, for this shows disrespect for the market itself and for the activity from which some of us earn our daily bread.
Kool-Aid...I thought it was something Kool and the Gang drank! ;) jkThe funny thing is that they actually drank FlavorAid, but Kool-Aid has become synonymous with the incident. Must have been the better commercials with pitcherman punching through walls.Unfortunate for "Kool-Aid", but good for the political mudslingers.
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