01/24/2012 Intraday Watering

[Cobra]

Gap down below yesterday's low, so the gap might not be filled.

From the global ES, I still don't see bear attack, the pullback from the high is already 2 legged but so far didn't go far and hourly bars are overlapping. Well, let's see whether the open changes everything.

[Al_Dente]

Good morning Cobra and all

AAPL reports after the close.

“When you first start off trying to solve a problem, the first solutions you come up with are very complex, and most people stop there.
But if you keep going, and live with the problem and peel more layers of the onion off, you can often times arrive at some very elegant and simple solutions. Most people just don’t put in the time or energy to get there….” [Steve Jobs, 2006 interview]

[99er]

Good Morning.

http://www.99ercharts.com/archives/518

Just a cartoon.

[99er]

Update

EURUSD http://www.99ercharts.com/archives/524

[99er]

Update

ES http://www.99ercharts.com/archives/527

GLTA.

[cougar]

Good morning!
EDZ and EEM at levels favoring reversal of emerging markets stocks.

[dcurban1]

Hungary and Romania try to outdo Greece

http://www.atruecontrarian.com/2012/01/ ... reece.html

European Bond Yields and Commentary, January 24, 2012

http://www.atruecontrarian.com/2012/01/ ... ry_23.html

Technical Analysis, January 23, 2012 – DJ Transports

http://www.atruecontrarian.com/2012/01/ ... 12-dj.html

All from yesterday as I was in New York celebrating Chinese New Year.

[cougar]

Yesterday, after the GS and JPM release of opinion on treasuries, I locked in the TLT trade by selling Jan 27, 118 P.

[Cobra]

the open.

[Al_Dente]

$TRAN did not confirm yesterday, and opens weak this morn
http://stockcharts.com/h-sc/ui?s=$INDU& ... =246218440

[Cobra]

text book target.

[taggard]

Good morning Cobra and all

AAPL reports after the close.

“When you first start off trying to solve a problem, the first solutions you come up with are very complex, and most people stop there.
But if you keep going, and live with the problem and peel more layers of the onion off, you can often times arrive at some very elegant and simple solutions. Most people just don’t put in the time or energy to get there….” [Steve Jobs, 2006 interview]

al this is a a very fine quote. Obviously this implies things for traders--and true enough beginning traders often look for a confluence of indicators and ideas--experienced traders actually feel the market more. Jobs maybe on target that it is about time and energy--but i think it's also about "hanging" with the issue. Further it's about dropping "approximations of reality". as we start looking at the issue we are looking at OUR IDEA of the problem as much as we are looking at the actual problem. sadly most of our lives are spent this way--looking at ourselves projected outward and not actual issue. it may be time and energy--but it's also "relaxed structured attention (attention is concentrated awareness). here is one of my favorite stories on that--note the general process and then the abstract summery in the last 2 lines--esp the part "transformative learning when intention is LARGELY FORGOTTEN". intention (yi) is a good thing but it also separates us in to "object/subject" dichotomies because while it directs our attention it also separates us from the issue. (caddyshack "be the ball")

. . .I ASKED DON HOW HE CAME TO REALIZE HIS TALENTS AND HE EXPLAINED IT ALL STARTED WITH PRACTICING CONCENTRATION. WHEN HE WAS A YOUNG BOY EVERY SUMMER HE VISITED A CIRCUS NEAR HIS HOME. A CARNIVAL MAGICIAN TOOK A LIKING TO HIM AND EVERY AFTERNOON SENT THE YOUNG BOY HOME WITH AN ASSIGNEMENT TO LOOK AT A REGULAR DRIKING GLASS AND REPORT BACK HOW MANY THINKGS HE COULD OBSERVE ABOUT THE GLASS. AFTER THE FIRST WEEK DON COULD ONLY LIST ABOUT 10 DIFFERENT CHARACTERISTICS SUCH AS SMOOTHNESS REFLECTION AND TRANSLUCENCE. BY THE END OF THE SUMMER HOWEVER HE MANAGED TO DESCRIBE SEVERAL HUNDRED MORE! HE SAID THE CONCENTRATION FROM THIS TRANSFORMED HIM IN MANY WAYS FROM THAT POINT FORWARD.

CONCENTRATION STATES ARE DIFFICULT TO DESCRIBE FOR THEY COME ABOUT IN PARADOXICAL WAYS. FOR EXAMPLE THEY REQUIRE A DEGREE OF INTENTION BUT RESULT IN TRANSFORMATIVE LEARNING WHEN INTENTION IS LARGELY FORGOTTEN . THEY ARE COMPLETELY NATURAL PHENOMENA YET WE SELDOME RECONGINIZE THEM WHEN THEY COME UPON US.

great quote thank you.

[99er]

Update

SPX http://www.99ercharts.com/archives/530

Fresh snow, skiers.

[cougar]

Update

SPX http://www.99ercharts.com/archives/530

Fresh snow, skiers.

Excellent snow 99er! You nailed it!

[BullTart]

PosD RSI on the VIX daily confirmed now that it is fully within the BB bands.

Sitting in an "all-in" TVIX long position that I've been building and completed building as of yesterday.

As I mentioned earlier, still could be one more down draft in the VIX ETNs, but the VIX itself looks like it has now put in a confirmed short term bottom.

[Al_Dente]

PAGE JARBO
Your “smart money” bud believes spy is on day 40 (?) of a 35-40 day cycle.
Do you agree?
Thanks GLTU and GLTA

PS: thanks taggard

[Me XMan]

Piled on the short bus $130.85

[SWalsh]

text book target.

That would look like a text book A-B-C correction. AND....they know that it has to hold there. In the past, they have done everything to do so. So if it breaks, then there is a good chance trend changes. But the odds speak of them standing there taking all sellers and then have HFTs hit it higher.

[johnnywa]

Update

SPX http://www.99ercharts.com/archives/530

Fresh snow, skiers.

Excellent snow 99er! You nailed it!

Need to break1300-03 to get down to the lodge

[Al_Dente]

PosD RSI on the VIX daily confirmed now that it is fully within the BB bands....Sitting in an "all-in" TVIX long position that I've been building and completed building as of yesterday....As I mentioned earlier, still could be one more down draft in the VIX ETNs, but the VIX itself looks like it has now put in a confirmed short term bottom.

BULLTART
Volume on TVIX yesterday daily = 12.6 million shares....Biggest selling volume since inception of the fund....(volume surge was pointed out by Keizai last week)....Quick math = approx 30 mil shares sold/liquidated in past 5 days....If that’s not “exhaustion volume” I don’t know what is !
[caveat: sometimes more "exhaustion" can follow (at least in other stocks/ETFs); TVIX is too new to backtest much….]
GLTU