Stock Market Blogger 'Jesse Livermore' Is Calling The Top

Is this the top?

On Friday, Alibaba is set to make its debut on the NYSE in the largest IPO ever.

And at least one market watcher thinks that after Wednesday's Fed meeting, Thursday's all-time highs, and Friday's record-breaking Alibaba debut, we could mark a top for the year on Friday.

Jesse Livermore, the pseudonymous blogger of Philosophical Economics, on Thursday night noted that in 2012, Facebook's IPO marked the market bottom for the year, and sees Alibaba's debut as potentially marking the top for 2014.

(Jesse Livermore is a famed stock market trader who made a lost millions of dollars shorting the stock market in the early 20th century - the modern day Twitter user operates under this cover.)

Livermore is one of our favorite follows on Twitter, and is always armed with a good take on the psychological state of the market.

Livermore said people had "wild reactions" to his Thursday night top call, but said that if you look at the factors that have come together this week, why not Friday?

Ultimately though, as many investors will note time and again, individual day moves in the market, and for longer-term investors even yearly moves in the market, aren't necessarily life and death.

Calling tops is fun, and ultimately has a decent risk-reward proposition - if you're right, everyone remembers; if you're wrong, everyone forgets.

Good luck!