Carving out a floor or a ceiling?

Discussion in 'Trading' started by Buy1Sell2, Sep 29, 2022.

Is the S and P carving out a floor here or a ceiling?

  1. Floor

    4 vote(s)
    50.0%
  2. Ceiling

    4 vote(s)
    50.0%
  1. Buy1Sell2

    Buy1Sell2

    Is the S and P carving out a floor here or a ceiling?
     
    murray t turtle likes this.
  2. Absolutely no one knows, right now. It's purely just for chatter and guessing and gambling and passing time and bragging and banter.
    No one gets rich attempting to be a Nostradamus. But you can get rich being a semi-Nostradamus in the right here and now, today.

    But to answer your question, if I had to choose an option now,....I would say the market in the longer run will go Down/Flat, but not up.
     
    Last edited: Sep 29, 2022
    Handle123 and murray t turtle like this.
  3. smallfil

    smallfil

    Trend is still down. A bottom might be a long ways off. Got back into my short positions yesterday which is just right in time. Waiting on a rally to short a lot of these tech stocks. The options premiums are too high. A rally will drive those put option premiums to more reasonable levels.
     
    murray t turtle and Buy1Sell2 like this.
  4. %%
    TREND is still down.
    Long term, medium term, short term\one hour to close== still down.
    NOT a prediction+ not insured by any federal agency......................................
     
    smallfil and Statistical Trader like this.
  5. Handle123

    Handle123

    Economy hasn't really started a recession yet, still too many signs for hire.
     
    smallfil likes this.
  6. MarkBrown

    MarkBrown

    so someone asked me when the sp was at 190 where could it go - i said 900 little did i know.

    now what do you think i think about this question lol.....
     
    schizo and murray t turtle like this.
  7. smallfil

    smallfil

    We can only react to the stockmarket. No way to know what it would do in advance. I got back in my short positions yesterday as my positions were showing strength the whole time the stockmarket was rallying. Today, I was proven right. Of course, tomorrow we could have another large rally. Who really knows?
     
    murray t turtle likes this.
  8. Overnight

    Overnight

    I'd like your post, but you have me on /block. Oh well.
     
    MarkBrown likes this.
  9. Wouldn't it be so EASY, if we could predict? Perhaps, that is why often people post these type of questions. In a survey no less.

    They want an answer that is "easy", but ironically, it is like asking the ground hog, when spring will come. The animal does not know, but we "ask", nevertheless. And it is not any more accurate if the entire colony of groundhogs "votes", either.

    There are many opportunities in this type of market and that is the take away for those who don't search for mono directional, nebulous time frames, easy answers.
     
  10. maxinger

    maxinger

    It has already carved out the floor and ceiling.
     
    #10     Sep 30, 2022
    murray t turtle and MarkBrown like this.