07/15/2011 Intraday Watering

[shumushu]

Max pain for SPY still sit at 132 so, it gonna be a boring day since we trade at it now?

I don't disagree with your theory, but if you look at the max pain on the SPY, the pain for 131 130 on the SPY is very close to 132 as well. Therefore, I believe any of these numbers could be settlement.

Google options writters are gonna take it up the chin! lol

[Cobra]

Been watching and learning...am total novice. Thanks to all here - esp. Cobra for sharing and teaching. It will be long time (if ever) before I can contribute...but I really appreciate the site a lot. May your trades all be safe - even if not profitable.

Thanks. Welcome aboard. Take long to contribute, doesn't matter, as long as you come here often.

[BullBear52x]

what is holding up is mid BB, they can not flirt here far too long, and the sell pressure I am seeing now I think we head lower.

[99er]

Oh honey...let's go to Hawaii!
YM http://99ercharts.blogspot.com/2011/07/ym_15.html
Why? To surf the North Shore?

[Out of Bounds]

Do we break further or pause?

[Cobra]

bears unable to seal the deal, somebody came in at critical level, interesting...

[cougar]

According to the Twin Gann Squares:
First target ~ 1302.3 (soon)
Next target & support = 1291.7 (around Jul 20).

…unless you believe in the Full Moon Miracle today …Gann did! LOL!

[Dow Trader]

EUR

now fighting for 1.41. I do not think i.41 will hold. If you check the big time frame, it is still in down channel. Let's wait and see. I might be wrong.

here is the chart again with some information that might help

[agnosia]

bears unable to seal the deal, somebody came in at critical level, interesting...

"somebody" == the PPT . very weird that we won't break down here..

[soku]

low 1300 support was tested multiple times and confirmed imo.
the 1313-1314 area was last sup turned res. i see a challenge there. lots of rumors about European banks per the fly who is related to the famous espresso machine. market is volatile. ideal for traders. good luck

[cougar]

bears unable to seal the deal, somebody came in at critical level, interesting...

Yes Cobra! Interesting indeed…
But even if the bears don’t seal the deal right away… your very early call on the intraday down-reversal was impressive!
Congrats!

[luckystar2006]

Money Inflow > Outflow over last few days. That might explain why Bears having a tough time to bring down the market so far.

[99er]

High Noon

(Reuters) - A health check of European banks is expected to show that as many as 15 lenders need more capital to withstand a prolonged recession, with criticism growing that the tests do not encompass the impact of a Greek default.

Europe's bank "stress test," to be published at 1600 GMT, will make 90 lenders reveal for the first time their profit forecasts, a breakdown of their sovereign bond holdings and funding costs, and will force the weakest to recapitalise.

[WhyNot]

Triangle?

[NDD]

c'mon lets breakdown now!

[Tabby]

Cobraaaaa!!!!!!!!!!!!!!!!!!

Just to let you know I bought the GOOG 565 call expiring next friday and its going to be worth $35-$40 ! I paid only $5!!!!! IM SOOOOO HAPPPYYY

Thanks for helping me out as alwayssss!!!

Congrats AK84.
The day before GooG earning, I read an article to buy BIDU and dump GOOG. I guess GOOG got jealous of her nemesis.

[AK84]

Cobraaaaa!!!!!!!!!!!!!!!!!!

Just to let you know I bought the GOOG 565 call expiring next friday and its going to be worth $35-$40 ! I paid only $5!!!!! IM SOOOOO HAPPPYYY

Thanks for helping me out as alwayssss!!!

Congrats AK84.
The day before GooG earning, I read an article to buy BIDU and dump GOOG. I guess GOOG got jealous of her nemesis.

Thanks Tabby!!! I remember your post on how if it sellls off on earnings day means it may pop in AH . Cobra helped me decipher the weekly chart which clearly had 3 push down and was on the 2 legged up phase.

It was a $500 risk (could have lost all ) but the upside potential was pretty good considering the stock sold off so much already so even a slight beat would have lifted it in my opinion . I dont take huge risks prior to earnings but sometimes u gotta take a gamble

[BBFinance]

bears unable to seal the deal, somebody came in at critical level, interesting...

That was the mini POMO

[BullBear52x]

Buying is picking up, what a day. I am taking early break today. might have to lighten up more than I like into the weekend if trade at this mid BB area. I can not recall 6 hours flat at this line. if you don't think this is boring I don't know what is.

[Anaconda]

Triangle?

Almost certainly, IMO. Increasingly tight back and forth thru end of day, today. Hard down next week, I think.