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Dare It Be Spoken? The QQQs really seem Topped Out

Submitted by Tim Knight from Slope of Hope on 02/15/2012 14:01 -0400

Anyone who has dared question the infinite strength of the Apple juggernaut has had their liver eaten daily by a hawk. (My own view last week that Apple would get a little above $500 then reverse didn't quite work out, although I'm willing to give myself a little wiggle room here). But it really seems to me we are just about at the peak of how high the QQQs are going to be able to go.

QQQ chart

Incidentally, it's a real kick for me to be posting on ZH. I've been reading this site about ten times a day every since it started, and I'm really grateful to Tyler & company for letting me on board.

Ummmm. Bitchez!

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Wed, 02/15/2012 - 23:15 | 2164653 BaggerDon

i LOVE THIS SITE, HOW DOES ONE GET TO BECOME A CONTRIBUTOR???

Fri, 03/02/2012 - 22:24 | 2218874 AN0NYM0US

Wed, 02/15/2012 - 18:33 | 2163831 Stepbackfromtheledge

Ok, a couple of issues with this post:

1. TK posted this chart a couple of weeks ago, when he was calling the top then. He is always calling a freaking top.

2. TK is a PERMA freaking bear. Sorry, that type of extreme emotional and mental bias is dangerous.

3. TK's site is fine as long as you agree with him. If you are a bull, you get banned. Welcome to 3rd grade.

4. Don't give me any shit about me not posting here -this is the first time I have read BS on here and am compelled to call it out.

5. TK is actually the best contratian indicator in the world (how about selling silver at 6 and then buying it back at 42. And yes, that kind of history matters since he had denizens the feast on his every word. Although I am sure that only about 2 of them trade, ever.

6. The Slope is not even in the same zip code in terms of information and obkectivity as ZH.

I will see your bytchez and raise you about a million TKI.

Wed, 02/15/2012 - 17:17 | 2163512 monopoly

Ha, I can never get rid of you. Hey Tim, super post as usual.

Wed, 02/15/2012 - 16:29 | 2163265 Mesquite

When's that new ipad due out...Mar something..??

Hmmm.

Wed, 02/15/2012 - 16:27 | 2163257 resurger

Welcome Bytch!

Wed, 02/15/2012 - 16:05 | 2163153 reload

Welome Tim.

As I posted on yesterdays Paulson thread: Two of the most successfull traders I know (who both run very serious money) have started to independantly build conviction shorts in the last week. They will probably keep building for the rest of this quater. The funny thing was just after the second trader started to talk about how much he hates Apple stock we asked our waiter for a wine list - and yes, it came on an ipad! As I said, I will enjoy watching it play out without skin in the game.

Wed, 02/15/2012 - 15:51 | 2163090 Freegolder

I like Tim a lot, lovely guy, and I used to hang out at Slope every day a few years back.

However, he and his crew are just perma-bears (which I guess most of us here are too), but he made a load of poor top calls back through 2009/2010, so it's a shame he is just going to be posting charts.

Also, he has zilch idea about gold, he hates gold.

Anyway, it's a free world, so welcome.

Wed, 02/15/2012 - 22:45 | 2164567 AN0NYM0US

like you so too did I

I asked Timmy the question and his bitch lizzy30 something pounced in his defense but he was silent (and I am still able to log on to ZH though am in jeopardy of being banned for challenging the status quo)

SO Timmy you are great with the charts and I understand you do or did run your own fund so questions:

How has your fund performed? (details please)

With all of your charts are you real time or like over at slob do you (like the great trader who is always on the right side of every trade Dennis Gartman) give us your insights including entrys and exits after the fact or in (within reason) real time.

Personally I find it sad that you have to troll for readers at the internets top financial blog, and also sad that same blog would troll for contributors.

And Lizzy

EFF u dude

(and to the slob cult members - get a life or at least handles that don't include names of small annamalls like nummy )

Wed, 02/15/2012 - 15:47 | 2163060 Beard of Zeus

But...but...but...the price target says $600!!

WTF?!

Wed, 02/15/2012 - 17:30 | 2163567 Zero Govt

you mean Goldman Sucks price target is $600

...to offload its position to clients

Wed, 02/15/2012 - 15:41 | 2163037 resurger

It's ready to dive, but what is the catalyst which will cause the market's to Dive?

Wed, 02/15/2012 - 17:26 | 2163548 Zero Govt

running out of bulls

Wed, 02/15/2012 - 15:31 | 2162991 zot23

Welcome to ZH Tim, good to have you onboard!

Now if you could please post your opinion on Gold and Silver futures, we can commence alternately holding you aloft on a wicker throne and letting rabid dogs savagely rape your mortal coil while we dance and hoot with tribal glee.

Thanks!

Wed, 02/15/2012 - 15:11 | 2162918 LowProfile

What I really want to know though Tim, is did you buy back that 10oz bar of gold you sold a long time ago...

Wed, 02/15/2012 - 15:05 | 2162883 wretch

Nice debut, sir. What a beautiful call.

Wed, 02/15/2012 - 14:59 | 2162851 falun bong

welcome>>>

we're all playing roulette and the dealer has his thumb on the wheel...all we can do is watch for little changes in his facial expressions and bet accordingly. Sometimes he winks at you...other times he just looks away.

I am NOT Chumbawamba

Wed, 02/15/2012 - 14:58 | 2162842 rsnoble

In this market a top seems to be a 3 day selloff followed by a blast thru of a previous trendline, something that should take months not days. LOL.

We'll see. With help i've had Nasdaq 3000 plotted as the top since 2008. Looks like that day is here.

What people don't understand is that if enough people want out the PPT is powerless. That's why the market keeps going up is they can manipulate low volume.

Wed, 02/15/2012 - 15:06 | 2162821 whstlblwr