08/24/2011 Intraday Watering

[cougar]

my personal observation has been that when the S&P is leading the market, it rarely has continuation. whereas if the nasdaq is leading and pulling the market up, there's usually follow through. anyone else see that?

Yes, Jarbo! I think it makes sense, since SPX is a “fuzzy sum” which moves only after some leading sector (which could be part of SPX) made its initial steps.
The other facet of your observation is probably due to another “phenomenon“: in heavily manipulated markets, SPX often moves independently, FOR A WHILE, as a tool in the hands of the market “engineers”…and this is a serious problem for the swing trader…

[BullBear52x]

Some people think that the money leaving GOLD will move to equities, I see it moves to the king of green back. Ben will increase rate folk. yeah....speculate again.

[jarbo456]

Speaking of phantoms...we had a phantom bar down, yesterday near the close, which points to @ 115.30 SPY. ChiOsc high on the hourly, fib resistance hit. More down.

i saw that too. green minute bar at the close that hit a low of 115.3.

[99er]

Copper
Uh oh.
http://99ercharts.blogspot.com/2011/08/copper_24.html
A Bear Flag hints at a possible break down out of the channel.

[Anaconda]

Copper
Uh oh.
http://99ercharts.blogspot.com/2011/08/copper_24.html
A Bear Flag hints at a possible break down out of the channel.

Dang! And the good folks at CNBC and Obama's teleprompter keep telling us things are getting better. Maybe not?

[Out of Bounds]

Well, my trading days are over for a while.

Capture.JPG

The biggest threat to your account is not the market. It is a wife with an eye for real estate. I won't be here for a while as I am depleting accounts to buy some rental property. Guys (and gals), do yourselves a favor and buy some real estate. Prices are low and rents are high. It is very rare that you can buy and realize a 10% return in your first year. It is crazy.

Good luck to all.

what area is this in???? I have some deployable capital that I have no interest in being in the mkt

We are buying in Miami, but there are areas in all regions.

[uempel]

Update of my zigzag play...

[Out of Bounds]

Well, my trading days are over for a while.

Capture.JPG

The biggest threat to your account is not the market. It is a wife with an eye for real estate. I won't be here for a while as I am depleting accounts to buy some rental property. Guys (and gals), do yourselves a favor and buy some real estate. Prices are low and rents are high. It is very rare that you can buy and realize a 10% return in your first year. It is crazy.

Good luck to all.

the 10% return in first year is so unbelievable, I am with you on that, dealing with some myself. BUT>>>>to me nothing beats trading

I know, I just bought 90 shares of BAC with my pittance. Lordy, I just can't help it

[uempel]

Well, my trading days are over for a while.

Capture.JPG

The biggest threat to your account is not the market. It is a wife with an eye for real estate. I won't be here for a while as I am depleting accounts to buy some rental property. Guys (and gals), do yourselves a favor and buy some real estate. Prices are low and rents are high. It is very rare that you can buy and realize a 10% return in your first year. It is crazy.

Good luck to all.

what area is this in???? I have some deployable capital that I have no interest in being in the mkt

We are buying in Miami, but there are areas in all regions.

The problem is the USD, that's why you get high rent-income for your capital. But your capital in USD is diminishing...

[cougar]

Symetric triangle intra-day...very clear on UPRO...

[KENA]

Update of my zigzag play...

SPX5.png

I will say a Bull Trap..But I have been wrong many times.

[Out of Bounds]

The problem is the USD, that's why you get high rent-income for your capital. But your capital in USD is diminishing...

Right. We have noted that in our plan. We intend to hold long term and think the dollar will eventually rise versus other currencies.

[ccash04]

judging by volume, i would make the case that we should rise today as the lighter volume days tend to be up days and we can levitate upwards after lunch.

[Anaconda]

Still thinking more down.

[Petsamo]

The Nikkei, Hang Seng, & India sold off from their open. When US started, the DAX was sitting too high at 2.6% +. If anything surprised me, it was the big rally in the first 45 min.

[cjb98]

Yesterday's zigzag 100/60 did not work (I covered the position at midnight, as the minis tanked down to 1148), now let's see if this zigzag works - I'm short again

SPX3.png

How would one go about trading at midnight? My afterhours trading stops at 8 PM and I'm frozen till 7 AM. Ideas?

[KENA]

I'm getting bearish again.The way I see it the Bulls will have control until we break 1152.After that, lets go dn.

[uempel]

Update. It's hot and I'm going for a swim, or perhaps jogging. Don't know yet. Bye guys. PS: SPX is falling, bulls don't want it to fall below 1156...

[jarbo456]

for those of us who sometimes get stuck into an overnight(s) position (raising hand)...this post makes sense and gives a little laugh at the end.

http://www.zerohedge.com/news/guest-post-fear-and-fear

[99er]

Honey...
SPX http://99ercharts.blogspot.com/2011/08/spx_2154.html

What's for lunch?