BOT Short at 1212

I have to go with the BOT Short signal now in the sp500.  The sp500 needs to get and stay above 1230 for me to say the bulls are ‘out of the woods’.  We could still be in a minor correction under that range and then bust above it later, but for now I have to give the bears a little credit for taking control of the tape right now.

Stochastics are on a sell and the market is rolling over at previous resistance.  Also notable several commodities including copper are showing some worrying signs of weakness.  Not to mention the fact that the US Dollar seems to be catching a bid again.

The roller coaster market action continues..

Posted in BOT Short Signal
Tags:
8 comments on “BOT Short at 1212
  1. RMT says:

    You went long at 1227 after a rally of over 10% in the past 2 weeks. Now you go short after losing 15 points on the SP. TOm, i gotta say that your blog is starting to become a joke.

  2. Geoff says:

    agree with RMT’s comment excepting for the use of the word “starting” – – – in my opinion this blog hit the joke stage back in June. this blog is useful, however, as a very short term contrary and surprisingly accurate contrary indicator.

  3. RMT says:

    Geoff,
    You are right, this blog is a very good short term contrary indicator . That’s actually why I follow this blog. Seriously.
    But now that Tom is in my foxhole on the short side, I’m getting worried…I hope this comment isn’t deleted lol.

  4. Geoff says:

    RMT

    🙂 – – – i see you noticed that he deleted two of my comments a couple wks back. well, i am a bit worried too, but i am keeping short positions – – it will only take a couple hours and he will be back on the BOT Long side again. IT IS IMPOSSIBLE THAT TOM ACTUALLY INVESTS REAL MONEY AS RECOMMENDED BY HIS SITE – – TOTALLY IMPOSSIBLE – – HE WOULD BE BUSTED BIG TIME – – LONG AGO. i really think he needs to sit back and take stock of his recommendation over past 12 – 18 months and either grin with satisfaction or throw in the towel and get a serious day job.

  5. Geoff says:

    RMT

    i was trying to swear off commenting any longer on this site but when i saw your first comment above, i had to chime in and agree

  6. Geoff says:

    Tom
    all the negative comments aside, as i have said many many times your computer skills, charting skills are extremely impressive – – it must have taken a hell of a lot of effort to set this site up

  7. ed says:

    Would expect next week to resume an up to sideways trend if not sooner

  8. shrihas says:

    Tom.

    I think market would rally 1240ish on S&P, fall back to 1194ish, rise back to 1260ish.

    1260ish is expected to be top for another 2 years…..let me c how it goes….

    I am reasonably confident that S&P will fall to something like 600 in next two years…let us c how it goes…

    -Shrihas

Leave a Reply

Your email address will not be published. Required fields are marked *

*

s2Member®