11/16/2011 Intraday Watering

[BullBear52x]

eur/usd doing a zigzag to complete Wave 2. Man, does that mean we have a up day today and a drop tomorrow ?

3 of 3 of 3 of 3 man....give me that 3 or C already

[99er]

So honey...what's for breakfast?
SPX http://99ercharts.blogspot.com/2011/11/spx_5938.html

Would you like a MACD cross, toast or mountain oysters?

[KENA]

Nice " U " bottom..maybe we go all the way to the top..Lets see.

KENA, you are overly optimistic today. resistance kiss good bye type of trade, under 200ma in 1min. I would not be looking for a good move up until we manage to move over 200ma.

Agree..But I don't see to much bearish So I am Leaning more on the Bullish side .Lots of dippers out there.

[jarbo456]

i read the inversion of the WTI and Brent price debate...but it's still amazing to me to see oil rally multiple days in the face of dollar strength. i think this divergence is going to have to find a resolution soon as well.

[lqiantobe]

Corba~ no any comments?

[pady]

eur/usd doing a zigzag to complete Wave 2. Man, does that mean we have a up day today and a drop tomorrow ?

3 of 3 of 3 of 3 man....give me that 3 or C already

Understand the frustration, man. Triangles kill everyone but the brokers. They are collecting their bonuses with this triangle.

[BullBear52x]

Today is third day I posted this chart, some thing no good is in the pot.

[Cobra]

nothing to say, let's see in which direction this OR broken first. It's H1 long now, so bulls are attacking.

[Dow Trader]

max pain is at 124

nice chart, thanks

[Mr. BachNut]

Still carrying pilot short.
Still anticipating SPY 126 +/-2 through OPEX.
Caveat - There is some big put open interest below 126. If big funds hold those as a hedge, they can sell into opex with impunity if they want to raise cash. Just to be aware. Can't say what will happen.

The focus on this symetrical triangle is huge. The chatter is everywhere. It is turning into a perfect setup for Mr. Market to mess with everybody. It will be interesting to watch. The balance of opinion on it as I canvass the landscape is bullish, but I am seeing both sides represented. My contrarian instinct is to discount the triangles reliability. While the initial breakout is likely to be bought or sold (potentially after a large overnight gap), I will be suspicious of any breakout as a potential trap and look for other evidence to support where the next trend will be going. I do have a small short here, but I view odds as 50/50. Given its size and the stop, it is just a little something to give me some extra asymetry if things head south.

[quientuves]

Does it have sense?? (i think this is my first chart here...

[Dow Trader]

i read the inversion of the WTI and Brent price debate...but it's still amazing to me to see oil rally multiple days in the face of dollar strength. i think this divergence is going to have to find a resolution soon as well.

Military exsercises in the middle east from most of the countries there, this kind of news can easly lift the crude $10 from here. Tention is very high and oil always love this kind of news

[taggard]

agree totally on epic fixation on triangle and your shading of that fixation as (mildly skewed) bullish. often triangles that are 66% towards the narrow end (so the older the closer to the end)--create meaningless moves afterwards--ideally the triangle breaks as early on as possible. could be options exp is impacting movement? personally i would like to see a false break (sucking in all these triangle guys) that reverses into a rage or inverse move. (so if they think up and it breaks up and they jump on--and we get slammed or less preferable we break down and they jump on and we go up.) But i like the idea of discounting the triangle lets see if that works at all.

[BullBear52x]

How long the 20dma or mid BB will hold with Lower High. this is like the third bulls can not make a new high after support. OK I am done posting my long view. in few minites I will start buying Shorts ETFs just wait for some more indications, so far bears favor

[uempel]

Update SPX:

[StrikePrice]

This is what I got this AM:

General Error
SQL ERROR [ mysqli ]

Too many connections [1040]

An sql error occurred while fetching this page. Please contact an administrator if this problem persists.

that's actually software limit. Currently the max allowed connections are set to 200. I need increase it to 400 I think, it's not simply a increase of number would solve the problem. If we keep having the same problem on big gap down day, then we need a new server with much bigger memory.

It's a good problem to have! Means the site is very popular!

it also means the cost is going high. A new dedicated sever would cost at least $600 a month plus the current one costing about $260 a month.

Whoa, Cobra. You're paying too much. These guys are awesome and they help manage a dedicated server.

http://www.futurequest.net/Services/Packages/

[BullBear52x]

max pain is at 124

nice chart, thanks

Dow Trader, I like your charts too.

[SB73]

Holy volatility...riding the shorts from yesterday, but writing notes of scared over and over again in my log.

[99er]

Quote of the Day

"Every province in China is Greece."

http://globaleconomicanalysis.blogspot. ... krupt.html

[jarbo456]

agree totally on epic fixation on triangle and your shading of that fixation as (mildly skewed) bullish. often triangles that are 66% towards the narrow end (so the older the closer to the end)--create meaningless moves afterwards--ideally the triangle breaks as early on as possible. could be options exp is impacting movement? personally i would like to see a false break (sucking in all these triangle guys) that reverses into a rage or inverse move. (so if they think up and it breaks up and they jump on--and we get slammed or less preferable we break down and they jump on and we go up.) But i like the idea of discounting the triangle lets see if that works at all.

agree with both of you.

i'm afraid that there is a decent amount of smart traders on the sidelines that will jump in when the triangle breaks. if it breaks lower, they will jump in to buy into the santa rally. if it breaks higher, they will chase the beta.

so even though it's 50/50...i'm afraid it might just all go up, up, and up. -_-

i don't know though, maybe i'm just psyching myself out.