Thanks mr_C4...
I've got to tell ya, you we're the only one I was concerned about. Going in short without you leaning towards a short term top was a bit un-nerving.
Everything I've got says we come down (a goodly amount). The best ameture traders I know of on the web(best in my opinion), have gone short.
This past Wednesday, I've hooked up with a floor trader at the Chicago Merchantile Exchange's SPX large contract pit. They feel SPX 1195.5 is pretty solid resistance with small supports below at 1187, 1183, 1178 and 1173. They feel 1173 support is as solid as the 1195.5 resistance is to the up side. He was telling me last Wednesday that the 5 white guys that run Wall Street were selling into that rally. When Friday broke above 1195 for 15 minutes, the dealers were again selling it as they didn't want it above 1195. They do know people we're shorting at that 1192-95 level and had stops just above. That 15 minute jaunt was enough to sweep all those stops. Dirty games they play.
I'll be in the pit with them on Monday as he invited me to come on down. Should be an awesome experience. I've always wanted to do that and the opportunity presented itself. With the Monday turn date I have, it could get really exciting if they put in a coast to coast(up then down) trip.
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