Michael Huang
Short

Seriously Guys? Come on!! $IWM $QQQ

AMEX:SPY   SPDR S&P 500
123 13 4
We are now stupidly parabolic.
easy trades:
wait for %8-%10 correction.

enter from neckline after bottom is formed.
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Why is it 'stupidly parabolic'? Because you just got 2 QEs and a rate cut in China in less than a month? Because the American economy is shining? Because geopolitical risks have settled down? How is this stupid?
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Michael Huang vlad.adrian
If you do Discounted Cash Flow to calculate how much stocks will make per share over the next 20 years based on estimates and accounting for time value of money it ends up being much less than the prices of most stocks. In other words companies aren't making nearly what they are worth using a pretty objective metric. I think that it is blatantly retarded to pay more for something than what it will earn you. It would be like buying a 1 million dollar house and only making a hundred bucks a month on renting it out. It doesn't pay for itself. Eventually people will figure out the market ain't worth anything and they will dump it. I'm pretty annoyed that fundamentals don't matter at all in this market.
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vlad.adrian PRO Michael Huang
Voices have been calling for a market crash since I first signed up on Tradingview. Price to earnings blah blah... Real valuations... all those amazing market fundamentals.
Meanwhile, every dip in the market has been a fantastic buying opportunity. I believe the S&P will be higher than it is right now till the end of the year
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Michael Huang vlad.adrian
Then what? What happens the day after that? Will people still want to pump it for no reason as soon as 2014 becomes 2015?
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vlad.adrian PRO Michael Huang
What I said and what you understood... Yes, the market will reach 1000 on January 01, that's exactly what I said.
Instead of twisting my words, remember our conversation, and we'll meet again at the end of the year and we'll look at the SP together.
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atlus1432 PRO vlad.adrian
for the record, I said "insanity" - If you feel comfortable going LONG at these levels - knock yourself out - I'm a trader (swing) and a technician - i trade charts and charts only - everything else is complete NOISE - My time frame is more than likely shorter than yours so short term - we are way overbought - PERIOD - beyond that I have no opinion. That does not mean it cannot stay overbought (as is currently the case). My comment again is from the bounce in mid October to now. If we are to go on your fundamental "QE2 and rate cuts" justification, why all the technical analysis tools on this site? There must be over 100 if you include the drawing tools. Their useless and we might as well play the buy and hold game - how did that work out in 2007? 6 weeks ago it was "the great selloff" was upon us - now a chart that looks like the SPY makes sense to you?? If you're long enjoy the ride - but Id rather sit on the sidelines or dip my toes going short on a profit taking pullback. What is it again they teach in investing (trading 101) .. oh yeah .... BUY LOW SELL HIGH
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Well my comment was not about what you said, it was about the chart, so I don't understand your answer.
Anyway, there is nothing calling for a major correction right now.
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atlus1432 PRO vlad.adrian
I completely agree with that .. I too am not looking for a major correction... but a BREATHER and a profitable one at that could be in the cards near term - then a resumption of the rally - my point was - its very risky to initiate a LONG trade (or call contract) at these nose bleed levels - I am NOT a bear ... but a technician and if I were LONG already i would stay long and use some options to hedge out the unrealized gains in case of a turn - But I absolutely 100% would not BUY here until prices pullback. This is why I think there is a huge short squeeze happening adding fuel to the fire - shorts running to cover - in a BIG way and swing and day traders piling in for quick profit. Absolutely nothing wrong with that !
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No one said to buy. I bought exactly at the bottom, my chart is here on TV. I would add that at that time I was hearing that the 2008 will be taken out.
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