06/17/2011 Intraday Watering

[shumushu]

Warning! max pain 129 is out the door, option bulls lost. spy trades below 127 today see you at 125ish (123.88 per my dream last night)

I believe the max pain theory says the target will be 129 at market close, we still have a few hours =).

[BullBear52x]

Warning! max pain 129 is out the door, option bulls lost. spy trades below 127 today see you at 125ish (123.88 per my dream last night)

I'm right behind you..Missed you when you were gong..I was about the only bear on here.

thanks, when the market can not take out 128 I know the buyer side agreed 125 is coming. it's so obvious that the cap drivers are talking about it.

[cletus]

There are many kinds of top, short term top, intermediate term top and long term top. Which one you are referring to?
The long term top is not in yet till Sept. Intermediate term, the top has been in at S&P 1370.

Bull market top (long term)

That my friend , is going to come by Sept 2011, around 1410 s&P.

could be...but I project NDX going to 3500 or 3575, a 60% rise from here

Sound crazy? Well I not only can make a technical argument, but a logical one. Technical is a head & shoulders bottom on long term NDX. Logical reason is that people are eager to short tech IPOs. Bottom line -- too much fear, not enough greed.

[quientuves]

here is my intraday update.

http://www.greedandmoney.com/?p=433

Could you be so kind to post it here?.

Sorry, but i'm too lazy (or too busy) to click what seems an spam link...

[budfox]

http://www.greedandmoney.com/?p=433

Bull flag

[budfox]

Possible long set up

http://www.greedandmoney.com/wp-content ... Xsetup.png

[Anaconda]

Be careful bulls. This ramp is purely $ driven and, for now, the $ is getting trashed. Won't last, I'm afraid. Enjoy the pop while you can.
Good luck.

[Cobra]

cobra, is the market weak in your view today?

could be just OE play. I heard the target is $127 for SPY.

[TrendTrade]

We are still stuck in a falling wedge. I think I stated a few days ago that this will likely end in some sort of wedge. We may have already bottomed but I am still leaning bearish until we break today's high.

If we do break out of the wedge pattern I do think we can rally really quickly over the next few days as there are a lot of trapped bears from the lows. The PUT/Call ratios were very extreme and fitting for a hard squeeze. Here is the big picture.

[BBFinance]

could be...but I project NDX going to 3500 or 3575, a 60% rise from here

Sound crazy? Well I not only can make a technical argument, but a logical one. Technical is a head & shoulders bottom on long term NDX. Logical reason is that people are eager to short tech IPOs. Bottom line -- too much fear, not enough greed.[/quote]

It is by no means technically proven that NDX will bottom at the H&S level and there is tech bubble to burst. just look at Nasdaq and QQQ. I dont think NDX will go back over 2600.
But the bottom line is, a final rally is coming after this one.

[Anaconda]

Anybody know what's holding up the NASDAQ? With Google, Apple and Netflix down, you'd think the techs would all be getting hammered. Interesting.

[proteus46]

I'm an obvious novice, but looks like S&P 3X Bear wants to head higher. Any thoughts appreciated.
Thanks Cobra for Admin. this board.

[shumushu]

Anybody know what's holding up the NASDAQ? With Google, Apple and Netflix down, you'd think the techs would all be getting hammered. Interesting.

and RIMM getting hammered.

ORCL, UTX, FSLR and ISRG doing pretty well. Up 2 or so %

[BullBear52x]

intraday target.

[KENA]

Break out time getting close,one way or the other.Lets see.

[uempel]

Don't see no edge today with a reasonable risk/reward. And I'm bored. Bye guys.

[cougar]

Anybody know what's holding up the NASDAQ? With Google, Apple and Netflix down, you'd think the techs would all be getting hammered. Interesting.

Anaconda: I noticed that too and I have an exotic theory:
Before “really” taking the market up, Da Boyz are engineering a make-believe bearish condition for the Top Techs, for two reasons:
1. To give themselves a chance to buy them cheap.
2. To create panic among the TA-dependent retailers, who should not dare to go long.

[BBFinance]

Now that the European markets have closed and west coast of USA is just getting up, we should see some pump jobs.

[Cobra]

nothing to say, triangle i see.

[99er]

Silver
Update.
http://99ercharts.blogspot.com/2011/06/silver.html