A Great Shorting Opportunity

The current juncture in the market really does look like a great shorting opportunity to me right now.  Perhaps one of the best ones since the August 2011 plunge.

We have the sp500 moving upward in a rising wedge fashion and now we are getting a tease under the wedge.  The market is likely still in the DE NIAL stage right now and I am not talking about the river in Africa.

The market has been a swing traders paradise.  We do not seem to have any type of trending market.  Instead we have large trading range market and that means to catch the turns when they become obvious.  The current turn is starting to look obvious.

Again I am seeing possible dramatic downside from here and possibly FAST given the nature of drops from a rising wedge.

The AAPL and AMZN bull runs are done.  So the big dogs are starting to stumble so we can see now a picture where finally the long term leaders are starting to crack.  The trash stocks already tanked.  The mid caps are still in denial and have rallied and held their ground.  But now we see the whole bunch heading for the final act which appears to be hard down at the moment.

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Posted in SP500
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6 comments on “A Great Shorting Opportunity
  1. Geoff says:

    according to your comment the market will be at SP 1140 by Friday – – in two business days – – – per the Mayan calendar – – what about the chicken entrails?

  2. JSD says:

    Geoff, be nice. Let’s just see what tomorrow’s data shows. GDP and Jobs report could make a directional difference. I think the market is holding up well because of earnings season and the chance to scalp a few bucks. Next week, things should start to return to normal and we’ll have a better read on the direction.

    With the negative money flow from AAPL, AMZN, NFLX, FSLR, GMCR, WYNN, LULU – all previous high flyers, the fund managers are in trouble. Somehow they have to make their quarterly numbers this quarter. Maybe that plays hard into some head fakes.

    Anyway, no worries, we all know the world ends in 2012!

  3. ed says:

    I see the $SPX monthly chart beginning a third wave up

    Today is a New moon and the 28th is major Bradley date. That along with your Mayan calender may get some fire works, but the trend is up

  4. Eden says:

    Geoff
    I never seen any positive comments from you bud.
    If you don’t like it here then you should not come back and keep posting the negative stuff here.
    geez..give a Tom break man.
    Hating comment actually gives the man more passion at what hes doing. how about a generous comment later?

  5. Geoff says:

    Eden
    “never”? i have applauded Tom for his skills at setting up a web site, but in terms of delivering on the title of the website “Bestonlinetrades” – – – better your money that follows his advise than mine. good luck. you will need it. i think any objective review of this blogsite will find that the suggestions have frequently been disasterous – – quite frequently. i strongly doubt that even ‘he’ puts his own money where his writing is.

  6. Geoff says:

    Eden
    if you want to spring to the defense of this blogger, i suggest you provide some support that indicates the blogger is providing “bestonline” trading advise. good luck in your research.

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