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06/06/2011 Intraday Watering

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Cobra
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06/06/2011 Intraday Watering

Post by Cobra »

Cannot see Futures right now, looks like a flat open so any gap either up or down shall be filled.

Retailers are a little too bullish. A survey from my Chinese forum shows 51.61% people bought the dip while only 12.90% people think it's a bad idea to buy. The Survey is in Chinese but I translated the most important part should be clear enough.
1.png
Also Rydex traders (another group of retailers) apparently think the same way.
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brownstein00
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Re: 06/06/2011 Intraday Watering

Post by brownstein00 »

vix still shows a lot of complacency :lol:
agnosia
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Re: 06/06/2011 Intraday Watering

Post by agnosia »

hey cobra, yes we are flat on the /es... man i'm glad i took last week off, that was one hell of a bear trap...

i am long /cl from 99 to play to gap fill @ 100.22
cougar
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Re: 06/06/2011 Intraday Watering

Post by cougar »

Good morning!
Built on the assumption that the market will go up: a 5 min SPY trading chart, with a “MAW Ribbon” and the “Fibonacci Harmonic Extensions“ of that Friday afternoon bullish Gartley Butterfly. If true, a potential target for an UP-move could be as high as the 133 zone.

Same chart, magnified:
http://images.investorshub.advfn.com/im ... py5gif.GIF
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spy5gif.GIF
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Me XMan
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Re: 06/06/2011 Intraday Watering

Post by Me XMan »

There's no fear until SPX 1200.
brownstein00 wrote:vix still shows a lot of complacency :lol:
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KENA
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Re: 06/06/2011 Intraday Watering

Post by KENA »

Just some points I read this weekend.... The SPY & QQQ last week was a bearish engulfing.This is the 6th time in 17 years with only one exception and has lead to a dn mkt for the next 2 week.

Also all of the Dorsey Wright Point & figure charts posted more "O" which indicates more dn to go.

Here is to a good week of trading either up or dn.
cletus
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Re: 06/06/2011 Intraday Watering

Post by cletus »

If retail traders are so bullish why are so many puts being bought? I don't trust surveys that much for that reason. Actions speak louder than words.
cougar
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Re: 06/06/2011 Intraday Watering

Post by cougar »

Probably because many bulls are scared and worried for the long positions that they still have. They don't want to sell and pay taxes...They would rather buy "protection"...IMHO
cletus
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Re: 06/06/2011 Intraday Watering

Post by cletus »

A cycle high is due at 12 EST this morning. But, we've had 5 cycles of consolidation so we're ready for a trend move, and it looks to be a trend move up. I will monitor the 12 EST cycle.
agnosia
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Re: 06/06/2011 Intraday Watering

Post by agnosia »

out of my /cl long @ 100 for a 1... taking profits early during the summer trading period is always a good idea.
babaro22
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Re: 06/06/2011 Intraday Watering

Post by babaro22 »

market is plunging further down but UNG looks like is getting close to the bottom:

http://babaro22.blogspot.com/
stockcycle
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Re: 06/06/2011 Intraday Watering

Post by stockcycle »

I saw from the chart for the last 5 week SPX was supported by the lower descending channel line and bounced upward for 2-4 consecutive up day after 3-4 consecutive drop day. If we believe that past could be repeated in future, we could expect a bounce up by today or tomorrow.
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Cobra
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Re: 06/06/2011 Intraday Watering

Post by Cobra »

the open.
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99er
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Re: 06/06/2011 Intraday Watering

Post by 99er »

Good Morning.
ES may want to bounce but NQ still has a ways to drop.
ES http://99ercharts.blogspot.com/2011/06/es_06.html
NQ http://99ercharts.blogspot.com/2011/06/nq.html
Last edited by 99er on Mon Jun 06, 2011 9:42 am, edited 1 time in total.
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BullBear52x
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Re: 06/06/2011 Intraday Watering

Post by BullBear52x »

stockcycle wrote:I saw from the chart for the last 5 week SPX was supported by the lower descending channel line and bounced upward for 2-4 consecutive up day after 3-4 consecutive drop day. If we believe that past could be repeated in future, we could expect a bounce up by today or tomorrow.
beware of captain obvious.
My comments are for entertainment/educational purpose only. NOT a trade advice.
cougar
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Re: 06/06/2011 Intraday Watering

Post by cougar »

Pall breakout is now confirmed.
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99er
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Re: 06/06/2011 Intraday Watering

Post by 99er »

agnosia
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Re: 06/06/2011 Intraday Watering

Post by agnosia »

babaro22 wrote:market is plunging further down but UNG looks like is getting close to the bottom:

http://babaro22.blogspot.com/
i am looking for a entry to short natural gas as the fundamentals haven't changed. we are very oversupplied and that is not going to change anytime soon.
agnosia
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Re: 06/06/2011 Intraday Watering

Post by agnosia »

wow financials are down another 1% today.. .. this does not bode well for our economy.
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99er
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Re: 06/06/2011 Intraday Watering

Post by 99er »

SPX
Hey...did an earthquake just cause my computer screen to jump?
http://99ercharts.blogspot.com/2011/06/spx_06.html
Jumping screens...a new momentum indicator?
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