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Has the Market Topped?

Discussion in 'General Discussion' started by tom, Jun 25, 2014.

?

Has the SPX topped?

Poll closed Jun 28, 2014.
  1. Yes.

    2 vote(s)
    25.0%
  2. No.

    5 vote(s)
    62.5%
  3. Not sure.

    1 vote(s)
    12.5%
  1. tom

    tom Administrator Staff Member

    Here's a quick poll to see what we think as a group of the recent market action. Has it formed a top yet?
     
  2. gtnz

    gtnz Guest

    Hi Tom, I just cast my vote, I'm the only one in the not sure camp. I know this because I voted not sure and there's only one vote. I thought the market had topped and for good reason but yet again it looks like I'm going to be proved wrong. This up trend is very persistent but I'll tell you what when it finally tops out and lets go it will let go big time. If we keep running up into October then I think there's a very high chance of a major crash. So whats one to do now, well you have to go with the trend don't you. I'm scared of this market I really am. It's on borrowed time and could let go at any minute. Any longs I take are scared longs, I just can't get long with conviction here. I was looking at a chart of AAPL yesterday and it looks to me like it has topped out. I wouldn't go long this stock under any circumstances. I saw this setup years ago and got short with put options and it really let go big time. If it runs back near this top I may get the chance to do it all over again.


    Cheers
     
    Last edited by a moderator: Jun 25, 2014

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