10/05/2011 Intraday Watering

[gabor]

There is this rumor: that the ECB will start printing money and with it buy all the worthless radioactive guano, now in the possession of European private banks…If true, the equities market would soar…
This is only a rumor… but I’ll be careful with keeping too many shorts…

That would further deflate the dollar, why would that be bullish? Commodities would further fall.

[BullBear52x]

OK now we are approaching daily ma 13, so bears got little hope around here right?

Hope ? say confidence at least I am .. today's upleg is very week and will be retraced completely in the next five day at most

I can not underestimate the power of bulls to say that even those we all see clearly it's down market. I normally stop trading once I booked profit, but I didn't today I thought I can milk it hehehe...

Thanks Cobra and everyone, and success trade to all.

[Mr. BachNut]

well, guess that's it for today. another strong day but not MAD again. well, guess statistics doesn't matter at all, thank you ladies and guys, I'll see you tomorrow.

Dear Chairman of the Board:
(I saved this for the close, so not to distract u)
Re: yr overnight market-outlook comments section; creeps seem to slink in there just 2 upset u
I think your tone is PERFECT and your analysis INSPIRED
And anyone with rude/crude comments is not worth yr precious time, and deserves to be kicked off immediately, so they don’t wear u down
And I want u to get better soon, but if u need to take a few days off, we will all be here when u return
Sincerely yours,
Al

Agree and ditto.

[seekingknowledge]

Here is a 240 hour chart of the Russell. The Russell is usually a leading indicator of where the market is going. As you can see, it is almost to the top of its trendline. Seems like if it breaks it, we go long. Note: I learned about using a 240 hour chart from someone on this board. I found it helps to step back and look at the little bigger picture.

[uempel]

OK now we are approaching daily ma 13, so bears got little hope around here right?

I've got all kinds of resistance at 1152, the DMA 610 is also there. But after reading Jarbo's comment and looking at treasury-charts I'm careful...

[ultramarine]

Random observation: Since the August low, the risk on bullish pulses have generally run between 4 - 8 days. Doesn't mean it will repeat this time, but looking at trend line resistances, lack of overbought condition and (at the moment) good follow through on yesterday's action, this thing has some room to run. Shouldn't be straight up though.

Yes, I can see the bullish case. There are some stops being hit all the way up here. But at what point does the short/stop squeeze end? I'm not convinced that this rally is going anywhere beyond 1180. Full disclosure: trapped bear!

Agree. There ought to be a bunch of resistance at 1180 +/- 10 by the end of the week. Hard to see it getting past that without some kind of test of yesterday's low.

Right. I think 1100 has to come before 1200 in that sense. I don't think we even get to 1180 before a major down day or two.

[jarbo456]

i'm holding my longs overnight cautiously...i think we're in for a slammer, but i don't think mr. market has twisted that knife in the side of the shorts enough quite yet...

[BullBear52x]

OK now we are approaching daily ma 13, so bears got little hope around here right?

I've got all kinds of resistance at 1152, the DMA 610 is also there. But after reading Jarbo's comment and looking at treasury-charts I'm careful...

SPX11.png

SPX12.png

Nice chart and thank you for showing up today. I got to go with the short term chart, up is up, price performance is not bearish at all today.

[uempel]

OK now we are approaching daily ma 13, so bears got little hope around here right?

I've got all kinds of resistance at 1152, the DMA 610 is also there. But after reading Jarbo's comment and looking at treasury-charts I'm careful...

SPX11.png

SPX12.png

Nice chart and thank you for showing up today. I got to go with the short term chart, up is up, price performance is not bearish at all today.

Yeah, I agree, market was bullish today. But this market (and especially the European markets) are so crazy, anything can happen. Difficult to trade. As soon as a trick goes it does not go a second time...

[AK84]

Here is a 240 hour chart of the Russell. The Russell is usually a leading indicator of where the market is going. As you can see, it is almost to the top of its trendline. Seems like if it breaks it, we go long. Note: I learned about using a 240 hour chart from someone on this board. I found it helps to step back and look at the little bigger picture.

That would line up nicely with me wanting to buy TZA at 42!

THANKS

I wait patiently

[ultramarine]

Here is a 240 hour chart of the Russell. The Russell is usually a leading indicator of where the market is going. As you can see, it is almost to the top of its trendline. Seems like if it breaks it, we go long. Note: I learned about using a 240 hour chart from someone on this board. I found it helps to step back and look at the little bigger picture.

That would line up nicely with me wanting to buy TZA at 42!

THANKS

I wait patiently

That would be a nice entry to be sure. Just a note that today's close on the RUT was at 61% retracement from the most recent high and low.

[uempel]

Here is a 240 hour chart of the Russell. The Russell is usually a leading indicator of where the market is going. As you can see, it is almost to the top of its trendline. Seems like if it breaks it, we go long. Note: I learned about using a 240 hour chart from someone on this board. I found it helps to step back and look at the little bigger picture.

That would line up nicely with me wanting to buy TZA at 42!

THANKS

I wait patiently

That would be a nice entry to be sure. Just a note that today's close on the RUT was at 61% retracement from the most recent high and low.

Seeking, do you mean a 240 MA on the hourly? That's a 37 MA on the daily. Never heard - doesn't mean it ain't viable...

[Cobra]

well, guess that's it for today. another strong day but not MAD again. well, guess statistics doesn't matter at all, thank you ladies and guys, I'll see you tomorrow.

Dear Chairman of the Board:
(I saved this for the close, so not to distract u)
Re: yr overnight market-outlook comments section; creeps seem to slink in there just 2 upset u
I think your tone is PERFECT and your analysis INSPIRED
And anyone with rude/crude comments is not worth yr precious time, and deserves to be kicked off immediately, so they don’t wear u down
And I want u to get better soon, but if u need to take a few days off, we will all be here when u return
Sincerely yours,
Al

Thanks, appreciate.

[uempel]

well, guess that's it for today. another strong day but not MAD again. well, guess statistics doesn't matter at all, thank you ladies and guys, I'll see you tomorrow.

Dear Chairman of the Board:
(I saved this for the close, so not to distract u)
Re: yr overnight market-outlook comments section; creeps seem to slink in there just 2 upset u
I think your tone is PERFECT and your analysis INSPIRED
And anyone with rude/crude comments is not worth yr precious time, and deserves to be kicked off immediately, so they don’t wear u down
And I want u to get better soon, but if u need to take a few days off, we will all be here when u return
Sincerely yours,
Al

Thanks, appreciate.

Wow, Al_dente, you really chose the right words!

[Thunder]

I agree too ...........Take a rest dear Cobra .... !!!

[seekingknowledge]

Here is a 240 hour chart of the Russell. The Russell is usually a leading indicator of where the market is going. As you can see, it is almost to the top of its trendline. Seems like if it breaks it, we go long. Note: I learned about using a 240 hour chart from someone on this board. I found it helps to step back and look at the little bigger picture.

That would line up nicely with me wanting to buy TZA at 42!

THANKS

I wait patiently

That would be a nice entry to be sure. Just a note that today's close on the RUT was at 61% retracement from the most recent high and low.

Seeking, do you mean a 240 MA on the hourly? That's a 37 MA on the daily. Never heard - doesn't mean it ain't viable...

So sorry, everyone! This is a 240 MINUTE chart ... and like most of you, I'll short the TZA at the trendline and go long only if it breaks ... and even then, would wait for pullback. Again, sorry for the confusion!!

[rocstocktrader]

Here is an interesting stock market video: “What To Expect And How To Trade The Next Moves In The Dollar, Stocks And Bonds”

You can find the video on the right sidebar under: Tools-Free Trading Videos.

http://stk.ly/qYFCaS

[Michelle]

[Michelle]