12/09/2011 Intraday Watering

[Al_Dente]

1 min
Note first time all day spy has pulled back to gold 250ma
That is a “dirty” pullback
Plus red tick selling strongest all day, but still very weak selling, bull spy
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

uuuuuuu that Baron von Weasel wait till I get my hands on him
now he’s got me crazy looking for sell signs

[michelangelo]

Bearish Engulfing on EWM.

[Buckethead]

i will agree with cobra though we will see a lower low early next week. today is typical squeeze balls nonsense into the weekend.

[rockfish]

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??????

[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??????

[Me XMan]

Don't flush the dream

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??????

[Anaconda]

shorting on a light volume friday in december isn't wise.

this market is a tough nut to crack. really doesn't want to break down.

Depends on how you do it. By your own words, this market is gaseous - floating up on light volume and holiday good cheer. Meanwhile, Lucifer is sitting behind the tree, ready to squash all that good yuletide cheer, once enough suckers have piled back into the market, "'cuz everything's ok, again." ...NOT. I buy cheap, long-term puts on etfs, and day-trade high probability tech signals for fun money. Lots of luck involved, I'm sure, but I'm up over 130% so far this year on my trades.
GL to you, whatever your system.
A

[rpccharts]

The Bernanks TWIST unloaded today....

most indices on weekly 25% light on volume.

[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

[ken_d17]

some resistance here. the bigger picture, yesterday's low still likely be revisited, no change the plan.

time period for revisit? couple of days or a couple of weeks?

[heavenskrow]

k fu*k it...I hate watching prices like a hawk I am maintaing my UPRO for target on ES around 1264. Keeping fingers crossed, adios.

[Cobra]

some resistance here. the bigger picture, yesterday's low still likely be revisited, no change the plan.

time period for revisit? couple of days or a couple of weeks?

next couple of days assuming we close high of the day today. again, it's all about odds, sometimes there're exceptions. I think the best trade for now is sideline.

[Anaconda]

Come on 126.4 SPY! (My buy trigger for second tranch of Dec. SDS options.)

[Me XMan]

Holding long and short SPY for Monday gap-up or gap-down play.

[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

[Al_Dente]

3:48ET can’t make a new high, biggest 5min red stick of the day, biggest red volume bar of the day.
I agree with the king. SIDELINES.
Jeeeeezzzzzeeeee I LOVE THIS BOARD, and our Chairman of the Board King Cobra. What a week, thanks to you all.

[Buckethead]

shorting on a light volume friday in december isn't wise.

this market is a tough nut to crack. really doesn't want to break down.

Depends on how you do it. By your own words, this market is gaseous - floating up on light volume and holiday good cheer. Meanwhile, Lucifer is sitting behind the tree, ready to squash all that good yuletide cheer, once enough suckers have piled back into the market, "'cuz everything's ok, again." ...NOT. I buy cheap, long-term puts on etfs, and day-trade high probability tech signals for fun money. Lots of luck involved, I'm sure, but I'm up over 130% so far this year on my trades.
GL to you, whatever your system.
A

i was refering to today's daytrading

[Me XMan]

FLUSH IT!

[rockfish]

Holding long and short SPY for Monday gap-up or gap-down play.

I WISH I had your balls

[BullBear52x]

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.