Did the SP500 just tell me the Market topped on Friday.

Dan Óg

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#1
tps://finance.yahoo.com/quote/%5EGSPC?p=^GSPC

As I usually or at least frequently do, I was watching the last hour of trading on Friday and especially the S and P 500. It began to fluctuate about the beautiful figure of 2929. Sure enough it closed at 2929.67. People will read whatever they wish if anything at all, into this but perhaps it is a signal to me that the long awaited top is finally here. The DOW itself closed at yet another record of 26743.

I believe this could be finally it and even more so as we get close to Oct
 

missy

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#2
tps://finance.yahoo.com/quote/%5EGSPC?p=^GSPC

As I usually or at least frequently do, I was watching the last hour of trading on Friday and especially the S and P 500. It began to fluctuate about the beautiful figure of 2929. Sure enough it closed at 2929.67. People will read whatever they wish if anything at all, into this but perhaps it is a signal to me that the long awaited top is finally here. The DOW itself closed at yet another record of 26743.

I believe this could be finally it and even more so as we get close to Oct
Why does a new high indicate that it's the final high ?
 

Tadhg Gaelach

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#3
tps://finance.yahoo.com/quote/%5EGSPC?p=^GSPC

As I usually or at least frequently do, I was watching the last hour of trading on Friday and especially the S and P 500. It began to fluctuate about the beautiful figure of 2929. Sure enough it closed at 2929.67. People will read whatever they wish if anything at all, into this but perhaps it is a signal to me that the long awaited top is finally here. The DOW itself closed at yet another record of 26743.

I believe this could be finally it and even more so as we get close to Oct

I was thinking myself that traders will want to push higher to those magic round figures, 3,000 and 27,000 before the fall comes.
 
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Dan Óg

Dan Óg

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#6
Well I certainly had a nice couple of days so far and fingers crossed. I covered my FB today with a loss of about 230 bucks which is nothing as I was once down about 6000 on this one stock. I shorted another 45 LOW and am short 546 shares which is hefty. I am down 28% on this and it is my biggest position, double the nest one BBY. I also bought 1 contract of NEM 37 for Jan 2020.
I intend to swing into the metals now , the bottom is in.(toes crossed)
I feel good here, no pressure.
 
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#7
Well I certainly had a nice couple of days so far and fingers crossed. I covered my FB today with a loss of about 230 bucks which is nothing as I was once down about 6000 on this one stock. I shorted another 45 LOW and am short 546 shares which is hefty. I am down 28% on this and it is my biggest position, double the nest one BBY. I also bought 1 contract of NEM 37 for Jan 2020.
I intend to swing into the metals now , the bottom is in.(toes crossed)
I feel good here, no pressure.

You margin longing silver?
 
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Dan Óg

Dan Óg

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#8
You margin longing silver?
In my trading account where I use margin I only have a tiny portion in metals. I have 100 shares of CDE, the option bought today and some longshot options in SLV for Jan so time is running short but who knows. I have plenty of physical and stock elsewhere, and no margin in those accounts. I used to have a lot more in this account but sold out. But I am eager to edge back in I reckon here. The bull market has badly crimped me for almost 2 years now. But perhaps the top is in, last Friday.
 
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Dan Óg

Dan Óg

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#9
Well I am glad I covered my FB because it went up and LOW went down. I see no reason .what so ever for this market to rise and it had a good run. I see no potential good news and lots of potential bad news. If it does continue down, well I will load up more short sales, in for a penny, in for a pound is every gamblers motto. You only live once, unless you are a hindu
 

wasted years

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#10
Well I am glad I covered my FB because it went up and LOW went down. I see no reason .what so ever for this market to rise and it had a good run. I see no potential good news and lots of potential bad news. If it does continue down, well I will load up more short sales, in for a penny, in for a pound is every gamblers motto. You only live once, unless you are a hindu
what if the USA currency weakens. this could artificially drive up the stocks ?
this is a possibility when your debt is at 21 billion.
 
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Dan Óg

Dan Óg

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#11
You can look at any situation imo from many angles. However, surely the reaction would be that nobody will wish to buy any asset denominated in dollars as it's values falls. The more likely outcome would be to grab your wealth out of dollars and then we would see an astounding drop in real value of US assets, granted they might eventually be priced in more dollars, but the dollars would be worth themselves a lot lot less. I would expect deflation first but what exactly will happen is anyones guess, except gold and silver would skyrocket.
 

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#12
You can look at any situation imo from many angles. However, surely the reaction would be that nobody will wish to buy any asset denominated in dollars as it's values falls. The more likely outcome would be to grab your wealth out of dollars and then we would see an astounding drop in real value of US assets, granted they might eventually be priced in more dollars, but the dollars would be worth themselves a lot lot less. I would expect deflation first but what exactly will happen is anyones guess, except gold and silver would skyrocket.
I don't know a lot about it but I think you're right. deflation will set the tone for the next few years and their only real solution to this is to keep mounting the debt. this will eventually lead to bigger problems down the line.
 
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