07/14/2011 Intraday Watering

[Cobra]

Small gap up, so the gap is likely filled today. Global ES seems making the 3rd attempt to rebound, for now I'll assume it would fail eventually as long as it cannot make a decisive high because the prices are overlapping but nothing is guaranteed, especially on the downside nowadays, so we'll have to wait and see.

[cougar]

Good morning, Cobra. Thanks for your thoughts!

[cougar]

One more look at GS:
How close did we get on Wed to the bat target?
129.70-129.37= 0.33...which represents 0.259% of the closing price.
This difference between the projected target and the Wed low is negligible.
Therefore, we can now start our “reversal watch”…
An additional factor to keep in mind: a lot of Hedge Fund managers are long financial stocks indiscriminately. This is typical. Also typically, they hedge by buying substantial XLF puts positions…which will expire tomorrow. The Big Boyz, who sold them that stuff, might like to have XLF Jul16 P, strikes 14 &15, expire worthless.
XLF time adjusted Max Pain ~ 15.8. Wed close = 14.99... without tip.

[vancouverea]

Moody's downgrade is ignored by the market~

[uempel]

Good morning Cobra, this is one of the charts I'm watching closely:

[finman66]

Good morning Cobra, just wanted to add my appreciation and thanks for sharing your thoughts and this forum. Keep up the good work.

[uempel]

Moody's downgrade is ignored by the market~

Looks as though Friday's expiry is more important...

[99er]

Good Morning.

Singing in the shower again, honey?
EURUSD http://99ercharts.blogspot.com/2011/07/eurusd_14.html
Marchons! Marchons!

Happy Bastille Day.

[dr659]

Moody's downgrade is ignored by the market~

We were put on notice of losing our AAA rating back in April and the market ralled 5 % in the next 2 weeks, according to Sentimentrader.com

[99er]

Marching along just fine, thank you.
ES http://99ercharts.blogspot.com/2011/07/es_14.html

[BullBear52x]

GM, since everyone focus on option Friday, SPY max pain of 132 so the market will be flat today and tomorrow?

cc2265: UNG, it's a buy, watch the same 11.2 level to hold over night.

[uempel]

An additional tool for today's trading:

[BullBear52x]

Financial is on the news let see if FAS/FAZ will bring food to the table today.

[Cobra]

the open.

[Anaconda]

GM all,

Shorted oil this AM at $98.80.

[Cobra]

Good morning Cobra, just wanted to add my appreciation and thanks for sharing your thoughts and this forum. Keep up the good work.

Thanks.

[BullBear52x]

finding excuse to sell. almost there, wait for the divergence.

[NDD]

Hey guys, newly registered to this forum.

We broke 1323, hoping for rebound to 1335-1340 to get som new shorts. (Bearflag)

Greetings from Sweden

/NDD

[Dow Trader]

Good Morning.

Singing in the shower again, honey?
EURUSD http://99ercharts.blogspot.com/2011/07/eurusd_14.html
Marchons! Marchons!

Happy Bastille Day.

thanks for posting your nice charts , I always like your insight as other traders here.
1.4100 area is still strong support but I think 1.4250 - 1.4300 area will see some short term resistance then correction for last 2 days rally then EUR will decide the next major direction which I still beleive it have 70% chance to 1.49 and 30% to the 1.35

[Cobra]

Hey guys, newly registered to this forum.

We broke 1323, hoping for rebound to 1335-1340 to get som new shorts. (Bearflag)

Greetings from Sweden

/NDD

Welcome aboard!