09/16/2011 Intraday Watering

[99er]

Updates

Copper http://99ercharts.blogspot.com/2011/09/copper_1762.html
Crude http://99ercharts.blogspot.com/2011/09/crude_16.html
30-Year http://99ercharts.blogspot.com/2011/09/30y_16.html

[Mr. BachNut]

Waiting for SPX at 1228, but now it has tanked below DMA 377 (now at 1214) and I'm just watching and hoping there will be another run for a higher high so that I can short

SPX36.png

I have been waiting to add short at 1222. Not looking like it will make it at the moment.
I have to say the short I have on already feels terrible. Mr. Market is turning my intermediate signals green right as he is running into a serious resistance area.
Signals will whipsaw if market rolls over.
So, sticking to plan for now with a stop. Will reassess next week.

[silicon_beaver]

It's two-leg pull-back. starting its 2nd leg.

[jarbo456]

It's two-leg pull-back. starting its 2nd leg.

yeah, i spoke too soon. and took off a small little hedge too soon. back on now though.

[KENA]

Bears will have a chance when we break dn thru 1190.Until then watch and wait..I'm going to work out.

[jarbo456]

question for the board...

i pretty much day trade options, but the commissions on TOS are killing me. anyone know the cheapest/best execution option broker out there?

[AK84]

Cobra ,

what is the spx target for 2nd leg?

[StrikePrice]

SPY Monthly - we crossed back below the 20 SMA. You could easily read this chart as Bullish or Bearish.

I don't think we get much below the BB(10,2) so I'm closing my short at 119.50 area. What? I'll take $2 anytime.

[cougar]

My stock of the day: MELA.
2nd breakout:

[bushwaffle]

Cobra ,

what is the spx target for 2nd leg?

I'm no Cobra...but I'm looking at 118.16 sometime today...

Might just be me with lots of hope, lol

[KENA]

question for the board...

i pretty much day trade options, but the commissions on TOS are killing me. anyone know the cheapest/best execution option broker out there?

I tried that a few years back and found that my buys and sells were all a couple cents or higher.It did not pay off.

[ultramarine]

Waiting for SPX at 1228, but now it has tanked below DMA 377 (now at 1214) and I'm just watching and hoping there will be another run for a higher high so that I can short

The attachment SPX36.png is no longer available

I have been waiting to add short at 1222. Not looking like it will make it at the moment.
I have to say the short I have on already feels terrible. Mr. Market is turning my intermediate signals green right as he is running into a serious resistance area.
Signals will whipsaw if market rolls over.
So, sticking to plan for now with a stop. Will reassess next week.

Ain't that always the way? The medium term signals turn green just as it hits resistance. Which to trust?

Given the huge role the Euro is playing in this market, I think the inability of the Euro to close above resistance at 1.39 is also a sign that the downside risks are real next week. Bonds are also rallying as stochastics is moving higher on the 60 min TLT chart after touching the 20 line. These are two good reasons that we may not move higher anytime soon.

[silicon_beaver]

question for the board...

i pretty much day trade options, but the commissions on TOS are killing me. anyone know the cheapest/best execution option broker out there?

there are several around. optionhouse....
But, as long as you trade options. it's expensive.
need right timing to win in options trade. I used to do, now back to trade stocks/ETF.

[AK84]

Cobra ,

what is the spx target for 2nd leg?

[AK84]

question for the board...

i pretty much day trade options, but the commissions on TOS are killing me. anyone know the cheapest/best execution option broker out there?

there are several around. optionhouse....
But, as long as you trade options. it's expensive.
need right timing to win in options trade. I used to do, now back to trade stocks/ETF.

I use zecco trading / optionhouse. both are very cheap. Interactive brokers is also very cheap. Check em out!

[champix]

Regarding crude, here is my plan for today ...
Just missed my buy for a few cents, but I am patient...

Long 1 CL @ 87.55, stop 87.25 target unchanged !

damn, stoped ... hummm, will try again later if spi allows me !

[Cobra]

Cobra ,

what is the spx target for 2nd leg?

no idea yet, need a pattern.

[StrikePrice]

question for the board...

i pretty much day trade options, but the commissions on TOS are killing me. anyone know the cheapest/best execution option broker out there?

I tried that a few years back and found that my buys and sells were all a couple cents or higher.It did not pay off.

I thought I saw lightspeed being cheap. If you trade more than 5 contracts always than look at OptionsHouse

[jarbo456]

i see a phantom up to 121.52

[jarbo456]

i see a phantom up to 121.52

wow, and a second phantom in a row on the minute chart.