12/09/2011 Intraday Watering

[KENA]

Cobra..Thanks for the week of trading..Did ok trading for the week except for today..See you all next week.

[Cobra]

good, so far as I predicted, the last hourly bar should be red or doji, all the buyers were already in.

[Buckethead]

There are too many whores looking for a year end rally.

and Doug Kass is their leader

Hey - I know you guys only like to trade the current days patterns - but the hit we took yesterday - and the upcoming 2nd leg down according to Cobra - this puts in place a nice cup& handle for the SPX that deserves watching. Of course to put this play in motion we would have to break above the early Nov highs - approx 1277 - but if so there is some nice upside into Y/E
What do you think??????

lol... i find it funny that so many doubt a year end rally. to me i look at it as a case of the necessity to paint a slightly positive seneraio say 2-3% or 1285-1295 by year end so as to accomplish wallstreet bonus but to also set in stone positive yr end statments for 401k and rrsp accounts which will cause joe lunch box to check out mentally when the sh*t really hits the fan in early 2012. not to mention wouldnt the policy makers 2011 decisions come under fire if we slip before the dec 31 paint? so inturn i expect a rally north of 1300 then a slow drift into year end. 10 years managing money gives you a gut feeling for things even though it may not show in the flash of the numbers daily.


hiram

i didn't say we wont' get one. i said that many people currently expecting one NOW meaning we can even go lower here and then rally into year end. even if market fell big next week and then rally some last week and half of dec. that by definition still is "year end rally"

[Me XMan]

Waiting for the flush action

good, so far as I predicted, the last hourly bar should be red or doji, all the buyers were already in.

[Cobra]

well, I guess that's it for today. everything goes as planed, not exactly but close enough. thank you guys, I'll see you the next Monday.

[bushwaffle]

Waiting for the flush action

good, so far as I predicted, the last hourly bar should be red or doji, all the buyers were already in.

toilet fetish?

[Al_Dente]

PAGING Baron von Baron
One other thing I want you to consider on my internals view. Few days ago u mentioned that TNX was crossing VIX on the 1 min and that maybe was significant. I WANT TO DISCOURAGE YOU FROM THINKING THAT WAY.
Here’s why, using A/D as example first:
NYADV and NYDEC are exact opposites (forget unchanged for this discussion). In other words, if NYADV the advancers are going up, the NYDEC decliners HAVE TO BE GOING DOWN. They are kinda like a mirror image, I call it a Rorschach like the old ink-blot test. So a crossover of NYADV and NYDEC is often quite significant, and often accompanied by whipsaws.
TNX and VIX have no such relationship, they move however they choose, and a crossover does not have the same meaning, as they are not “joined at the hip” like the a/d. More later
PS: best reason to sell here is not to have to hold over the weekend, nyadv 2570 = still bull

I know, I look at each individual differently. some people charting gold to trade spy, not me.
Today action only tell me one more sell if fail bull can have its trend back, so far I still longing for my Neg D.

Perfect, remember the only reason I stick TNX and VIX behind the A/D is because I have no other space (real estate problem), and the whole point of this internals view is to put them ALL on one single chart for simultaneous viewing. Have a great weekend dude

[Me XMan]

Have a good weekend!

well, I guess that's it for today. everything goes as planed, not exactly but close enough. thank you guys, I'll see you the next Monday.

[hiram]

There are too many whores looking for a year end rally.

and Doug Kass is their leader

Hey - I know you guys only like to trade the current days patterns - but the hit we took yesterday - and the upcoming 2nd leg down according to Cobra - this puts in place a nice cup& handle for the SPX that deserves watching. Of course to put this play in motion we would have to break above the early Nov highs - approx 1277 - but if so there is some nice upside into Y/E
What do you think??????

lol... i find it funny that so many doubt a year end rally. to me i look at it as a case of the necessity to paint a slightly positive seneraio say 2-3% or 1285-1295 by year end so as to accomplish wallstreet bonus but to also set in stone positive yr end statments for 401k and rrsp accounts which will cause joe lunch box to check out mentally when the sh*t really hits the fan in early 2012. not to mention wouldnt the policy makers 2011 decisions come under fire if we slip before the dec 31 paint? so inturn i expect a rally north of 1300 then a slow drift into year end. 10 years managing money gives you a gut feeling for things even though it may not show in the flash of the numbers daily.


hiram

i didn't say we wont' get one. i said that many people currently expecting one NOW meaning we can even go lower here and then rally into year end. even if market fell big next week and then rally some last week and half of dec. that by definition still is "year end rally"

agreed, and i have a full book of client money ready to unload @ 1310, lol

hiram

[michelangelo]

Have a good weekend, everyone.

[dcurban1]

Have a good weekend everyone!!!

[Buckethead]

There are too many whores looking for a year end rally.

and Doug Kass is their leader

Hey - I know you guys only like to trade the current days patterns - but the hit we took yesterday - and the upcoming 2nd leg down according to Cobra - this puts in place a nice cup& handle for the SPX that deserves watching. Of course to put this play in motion we would have to break above the early Nov highs - approx 1277 - but if so there is some nice upside into Y/E
What do you think??????

lol... i find it funny that so many doubt a year end rally. to me i look at it as a case of the necessity to paint a slightly positive seneraio say 2-3% or 1285-1295 by year end so as to accomplish wallstreet bonus but to also set in stone positive yr end statments for 401k and rrsp accounts which will cause joe lunch box to check out mentally when the sh*t really hits the fan in early 2012. not to mention wouldnt the policy makers 2011 decisions come under fire if we slip before the dec 31 paint? so inturn i expect a rally north of 1300 then a slow drift into year end. 10 years managing money gives you a gut feeling for things even though it may not show in the flash of the numbers daily.


hiram

i didn't say we wont' get one. i said that many people currently expecting one NOW meaning we can even go lower here and then rally into year end. even if market fell big next week and then rally some last week and half of dec. that by definition still is "year end rally"

agreed, and i have a full book of client money ready to unload @ 1310, lol

hiram

well if we fell 150 points next 2 week and rallyed 50 points into end of year that is also "year end rally"

[BullBear52x]

Thanks Cobra and everyone have a great weekend.

[Petsamo]

338 K last buy on IWM
787 K last buy on SPY
2.37 million last buy on EWZ
Looks like we gap up Monday, fellas.
What a lopsided day.

[The Hook]

isee indices and etfs over 100 again

[SB73]

out of longs...sidelined for the weekend. Looks like SPY has a lower high by .01

[jarbo456]

so we did officially end at the high of the day. -_-

[jarbo456]

sweet jesus. and it's still ticking higher in the post close settlement. 2 cents from the high on my chart. 126.35 vs 126.37 high of the day.

edit.

now it's at the high of the day. lol

[hdenandy]

Being so close to that 1264 level on the SPX, surely we are going to have another try and breaking it's resistance ??

Fail again, and I'll believe we will revisit yesterday's low.

But break through this time, and surely the next stop could be the 1292 level ?

[TWT]

SPX

Impressive rally but I don´t think that can be labeled as impulsive then the risk of revisiting yesterday´s lod is large