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11/28/2011 Intraday Watering

Re: 11/28/2011 Intraday Watering

Postby MrMiyagi » Mon Nov 28, 2011 4:49 pm

737controller wrote:I went massive short during pre-market around 730ESt so need this btch to burn


Give it a few days and it will go down like a 737 with rudder issues.
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Re: 11/28/2011 Intraday Watering

Postby PolarBull » Mon Nov 28, 2011 4:50 pm

Al_Dente wrote:New short interest numbers released today
http://online.wsj.com/mdc/public/page/2 ... tml#shortD

And nice short int chart from zh
http://www.zerohedge.com/news/no-new-sh ... -month-low

The short interest chart from ZH is misleading (why am I not surprised?) At Nov 15, SPY was at 126.12. Two weeks before at Oct 31, SPY was at 125.45 and so the reduce in short interests is understandable. Fast forward to today and I can bet you that the short interest today is much higher.

And I can see that we have a massive amount of bears here. 1100 by end of week? Maybe I should take this as a contrarian indicator.
Wide diversification is only required when investors do not understand what they are doing. --- Warren Buffet
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Re: 11/28/2011 Intraday Watering

Postby Buckethead » Mon Nov 28, 2011 4:57 pm

however people want to spin it today, a 30 handle up day is a 30 handle up day.
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Re: 11/28/2011 Intraday Watering

Postby Cobra » Mon Nov 28, 2011 4:58 pm

well, guess that's it for today, not a perfect day for bulls but not very bad. Chances are today's high will be revisited in the next couple of days but the bigger picture remains down. Thank you guys, I'll see you tomorrow.
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Re: 11/28/2011 Intraday Watering

Postby ActiveTrader » Mon Nov 28, 2011 4:58 pm

Dow Trader wrote:
ActiveTrader wrote:Question: why can't the ES trade in a range for 1 or 2 days before trying to fill the 1198 gap down. Technically, it would make more sense, but not much in this market makes technical sense. :mrgreen:


Because Vix above 30 8-)

Maybe that argument works and maybe it does not, but normally it is not all up or all down. Need some chop in between. Do you think the ES will make new highs on daily chart in the next 10 trading days. At the current time, I view making new daily highs as not likely.
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Re: 11/28/2011 Intraday Watering

Postby chodaboy19 » Mon Nov 28, 2011 4:58 pm

MrMiyagi wrote:119.47$ at the close today perhaps...


Nice call!
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Re: 11/28/2011 Intraday Watering

Postby hiram » Mon Nov 28, 2011 4:59 pm

PolarBull wrote:
Al_Dente wrote:New short interest numbers released today
http://online.wsj.com/mdc/public/page/2 ... tml#shortD

And nice short int chart from zh
http://www.zerohedge.com/news/no-new-sh ... -month-low

The short interest chart from ZH is misleading (why am I not surprised?) At Nov 15, SPY was at 126.12. Two weeks before at Oct 31, SPY was at 125.45 and so the reduce in short interests is understandable. Fast forward to today and I can bet you that the short interest today is much higher.

And I can see that we have a massive amount of bears here. 1100 by end of week? Maybe I should take this as a contrarian indicator.



i think the amount of bears here is a great contrarian indictor, the easy trade is to assume a meltdown, the hard trade is to assume a melt up, my exprerience is that its never easy. lol. my long entry via dec 2 119 spy calls is already up 15 points, usually i would have sold but today i will pay to see another card.

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Re: 11/28/2011 Intraday Watering

Postby SB73 » Mon Nov 28, 2011 5:00 pm

SB73 wrote:
BullBear52x wrote:Thanks Cobra and everyone,

TA. Shorts squeeze is in the making, how I know? when most people realized it tomorrow. :lol: I joke I joke have a good one.


Good to know I am on the opposite side of the trade, but still may close out before close.


Well that didn't last long stopped out...still with small gain. Tomorrow seems to be pointing to bullish results.
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Re: 11/28/2011 Intraday Watering

Postby TWT » Mon Nov 28, 2011 5:00 pm

KBE : The Potential count calls for a Zig Zag in progress hence a pending wave (C) should complete the countertrend bounce
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Re: 11/28/2011 Intraday Watering

Postby MrMiyagi » Mon Nov 28, 2011 5:01 pm

chodaboy19 wrote:
MrMiyagi wrote:119.47$ at the close today perhaps...


Nice call!


Thanks.. a little off though, mind you; I'd rather be off on the upside anyday I am not short.
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Re: 11/28/2011 Intraday Watering

Postby Me XMan » Mon Nov 28, 2011 5:01 pm

WOW! IMPRESSIVE CLOSE!

BullBear52x wrote:Thanks Cobra and everyone,

TA. Shorts squeeze is in the making, how I know? when most people realized it tomorrow. :lol: I joke I joke have a good one.
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Re: 11/28/2011 Intraday Watering

Postby 737controller » Mon Nov 28, 2011 5:01 pm

crash and burn......
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Re: 11/28/2011 Intraday Watering

Postby hiram » Mon Nov 28, 2011 5:03 pm

737controller wrote:crash and burn......



dont bet on it! lol.

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Re: 11/28/2011 Intraday Watering

Postby Dow Trader » Mon Nov 28, 2011 5:04 pm

ActiveTrader wrote:
Dow Trader wrote:
ActiveTrader wrote:Question: why can't the ES trade in a range for 1 or 2 days before trying to fill the 1198 gap down. Technically, it would make more sense, but not much in this market makes technical sense. :mrgreen:


Because Vix above 30 8-)

Maybe that argument works and maybe it does not, but normally it is not all up or all down. Need some chop in between. Do you think the ES will make new highs on daily chart in the next 10 trading days. At the current time, I view making new daily highs as not likely.


" new daily highs " you mean above 1370 ?
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Re: 11/28/2011 Intraday Watering

Postby Me XMan » Mon Nov 28, 2011 5:06 pm

You are absolutely right about that :D

Buckethead wrote:however people want to spin it today, a 30 handle up day is a 30 handle up day.
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Re: 11/28/2011 Intraday Watering

Postby ActiveTrader » Mon Nov 28, 2011 5:07 pm

Dow Trader wrote:
ActiveTrader wrote:
Dow Trader wrote:
ActiveTrader wrote:Question: why can't the ES trade in a range for 1 or 2 days before trying to fill the 1198 gap down. Technically, it would make more sense, but not much in this market makes technical sense. :mrgreen:


Because Vix above 30 8-)

Maybe that argument works and maybe it does not, but normally it is not all up or all down. Need some chop in between. Do you think the ES will make new highs on daily chart in the next 10 trading days. At the current time, I view making new daily highs as not likely.


" new daily highs " you mean above 1370 ?

Above 1289 on ES.
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Re: 11/28/2011 Intraday Watering

Postby MrMiyagi » Mon Nov 28, 2011 5:11 pm

Thanks for the input everyone, every viewpoint matters to me.
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Re: 11/28/2011 Intraday Watering

Postby Anaconda » Mon Nov 28, 2011 5:12 pm

Hiram,

One or 2 folks saying it'll be 1100 by end of week does not a "massive amount of bears" make. If you check sentiment indicators, I think you'll be surprised by the number of folks who are actually BULLISH, despite the last 7 trading days in the red. This suggests the contrarian trade is still that the market will go down MORE, because most traders expect and have expected a large bounce. ...including me. And, believe me, I am unbelievably bearish on our economy and the markets long term.
A.
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Re: 11/28/2011 Intraday Watering

Postby Dow Trader » Mon Nov 28, 2011 5:12 pm

ActiveTrader wrote:
Dow Trader wrote:
ActiveTrader wrote:
Dow Trader wrote:
ActiveTrader wrote:Question: why can't the ES trade in a range for 1 or 2 days before trying to fill the 1198 gap down. Technically, it would make more sense, but not much in this market makes technical sense. :mrgreen:


Because Vix above 30 8-)

Maybe that argument works and maybe it does not, but normally it is not all up or all down. Need some chop in between. Do you think the ES will make new highs on daily chart in the next 10 trading days. At the current time, I view making new daily highs as not likely.


" new daily highs " you mean above 1370 ?

Above 1289 on ES.


I don't think we it will go there in 10 days ( but anything can happen specially with Euro news these days ) because the amount of resistance areas in the way up are a lote and clear. 8-)
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Re: 11/28/2011 Intraday Watering

Postby TWT » Mon Nov 28, 2011 5:22 pm

ES Globex:

We have a possible completed DZZ

But the pullback is shalllow as it has not even reached the 0.382 retr.

If a low is in place ES Globex should not overlap below 1187

An overlap will mean that today´s lod is the wave (A) of the pull back

If the bottom is in place the extension targets for the assumed wave (C) up:

- 0.618 = 1213
- 1.618 = 1231
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