Initiated long position at $528 today. My theory is that it is just below support (a very bearish sign to get people to give away their shares for the cheap). It is forming a triple top, and it will rally on Xmas sales. Target is to sell over $630-650 around Xmas shopping news release (which will be the best ever!).
I went short this market before the close by shorting the index... my reasoning is that the big boys want Romney to win, and Obama will win so big banks will punish the market... the market is technically weak too as per chart ... target S&P 1370 ... free fall coming wait n see :-) (unless Romney wins!)
This is a classic big blow off top and reminds me of many companies that eventually churned and turned down very fast as quickly as they rose. So here are the targets based on trendlines, $70 by end of November, $60 by end of December, and $50 by end of January 2013. My target is to cover in the $70s. Shorted @ $120.