05/25/2011 Intraday Watering

[lostlamb98]

I guess nothing is guranteed. However, in most cases,Cobra is correct.

the bigger picture: what I was most afraid of for bears may turn out to be true - a 2 legged up from here.

Do you think this a garantee that no further drop tomorrow?

[Cobra]

the bigger picture: what I was most afraid of for bears may turn out to be true - a 2 legged up from here.

Do you think this a garantee that no further drop tomorrow?

you'll know my action in today's "trading signals". There're 90%+ chances (...), but nowadays 90% chances are not good enough, so I cannot say yet.

[Anaconda]

Being short if the market closes above the DMA 55 is like wading through a river full of crocodiles ... DMA now at 3124.94.

SPX9.png

Those little dollar-spawned crocs (look at the inverse hit to the dollar as stocks move up...just doesn't smell right to me), don't look all that scary to me just yet. I still think the bulls have to close the tape over 1325 to get me out of the water.

[agnosia]

damn just woke from my nap.. WTF is up with oil? the report was very bearish and the dollar is down only a tad.... oh yeah i remember now it's because goldman aka the vampire squid said to buy oil again. lol.

[cletus]

damn just woke from my nap.. WTF is up with oil? the report was very bearish and the dollar is down only a tad.... oh yeah i remember now it's because goldman aka the vampire squid said to buy oil again. lol.

Goldman has appeared to gain sainthood now and is actually recommending the right trade to their clients now! Buy oil (for the longer run)!

[gabor]

OK, I did not mean the word "guarantee" so strictly.

[Anaconda]

damn just woke from my nap.. WTF is up with oil? the report was very bearish and the dollar is down only a tad.... oh yeah i remember now it's because goldman aka the vampire squid said to buy oil again. lol.

Yep. Plus the line on the street is, "It's Memorial Day weekend, so inventories are going to be drawn down substantially." Right. Classic pump and dump. Next week I think we see oil down again. Check out USO June puts for under a buck.

[agnosia]

Goldman has appeared to gain sainthood now and is actually recommending the right trade to their clients now! Buy oil (for the longer run)!

Just a couple of weeks ago they were recommending the opposite . Amazing...

[gabor]

OK, I did not mean the word "guarantee" so strictly.

I guess, we will close exactly at DMA 55. That would be rightful for both bulls and bears.

[Cobra]

could be either an exhaustion bar or reversal bar here, just no time now, the market is about to close.

[99er]

SPX
Well...
http://99ercharts.blogspot.com/2011/05/spx_947.html
It's been much more fun after hours.

[Cobra]

whether it's an exhaustion bar we'll know after this bar. no time now though.

[agnosia]

Yep. Plus the line on the street is, "It's Memorial Day weekend, so inventories are going to be drawn down substantially." Right. Classic pump and dump. Next week I think we see oil down again. Check out USO June puts for under a buck.

gotta love the headlines they come up with

[uempel]

Went short at the close, as DMA 55 was not breached.

[bbc]

Goldman has appeared to gain sainthood now and is actually recommending the right trade to their clients now! Buy oil (for the longer run)!

Just a couple of weeks ago they were recommending the opposite . Amazing...

I am with GS this time, cause it got precise out/in timing this time.

No fault to be bearish weeks ago, and neither is this time. Regarding EIA report,

it's weekly *historical* data for *reserve*, it's easily to be interpreted either way.

I learned I should gave up my reading on news the moment market shows differently.

Sometime, I traded with these schedule short-term momentum with stop entry order on both sides.

[agnosia]

whether it's an exhaustion bar we'll know after this bar. no time now though.

man everyone was looking to short 1320 today and they ran it up just enough to scare shorts and now trap some longs... great work boys !

[cougar]

could be either an exhaustion bar or reversal bar here, just no time now, the market is about to close.

During the last 40 min, TICK TRIN & VIX seem to agree on an apparent weakness…which might get reflected in tomorrow’s opening…
Surprising…or not?!

[Cobra]

well, guess that's it for today. this market is sick, only pump and go left, follow-through is just luxury. the close doesn't feel good. thank you guys, I'll see you tomorrow.

[KENA]

Pull back not good for BULLS.

[BullBear52x]

Went short at the close, as DMA 55 was not breached.

Oh yeah