02/08/2012 Intraday Watering

[KeiZai]

WOW MOTR is firing up again, I was early again

[Petsamo]

long XME @ 55.53, 100 shares

If we go bearish, XME should see that price again tomorrow

[Cobra]

looks like a breakout on the upside soon.

[dcurban1]

Wow UNG is one sick dog. I defended it and locked a .02 gain on it yesterday. I expected significantly better results, but had no intention of holding it if it got weak.

UNG is busted. If SPX drops, UNG might rally. I still have 150 shares, currently underwater

You will need a big cold snap or a massive East Coast blizzard to save UNG.

i have a gas range and gas grill.... i am cooking exorbitant amounts of food - morning noon and night...

The problem with Natural Gas is the underlying fundamentals. We are rushing to frack it out of the ground in PA and NY only to see it stored underground in the south. Natural gas is a seasonal trade with inventories built up in the spring and summer and drawn down in the fall and winter. Because we have this very warm winter demand is low.

We need to either see a prolonged cold snap or some sort of supply destruction in order to get the price back to normal levels.

[Cobra]

support again. hmm, no face, almost every time when I'm sure the breakout would be on the upside, it goes the opposite.

[SB73]

I am guessing any top at this point will be a complex one with a lot of gyrations back and forth. Trying to stay nimble and book profits here and there until the direction ramps up again.

[Petsamo]

Wow UNG is one sick dog. I defended it and locked a .02 gain on it yesterday. I expected significantly better results, but had no intention of holding it if it got weak.

UNG is busted. If SPX drops, UNG might rally. I still have 150 shares, currently underwater

You will need a big cold snap or a massive East Coast blizzard to save UNG.

i have a gas range and gas grill.... i am cooking exorbitant amounts of food - morning noon and night...

The problem with Natural Gas is the underlying fundamentals. We are rushing to frack it out of the ground in PA and NY only to see it stored underground in the south. Natural gas is a seasonal trade with inventories built up in the spring and summer and drawn down in the fall and winter. Because we have this very warm winter demand is low.

We need to either see a prolonged cold snap or some sort of supply destruction in order to get the price back to normal levels.

A lot of UNG bears out there
How come I don't see anyone posting "short UNG" ?

[Cobra]

hopefully see breakout this time. still looks like a breakout on the upside is just a matter of time.

[HappyFriday]

ANOTHER BORING DAY ! NO FUN, NO DIRECTION, NO VOLUME !
TIME TO GO SHOPPING ...

[waverider]

WOW MOTR is firing up again, I was early again

LOL, nice flag pole. DOW is going red

[Auole]

Anyone sitting in NUGT as I am, here's hope. Gold long term chart. Very simple EW counts. I th th think wave 4 should be higher than #2...so.... since gold's last high was only 1765, spent today re-evaluating this recent little correction. On chart 2, 4-days 15 min, I have applied again a Fib retracement and EW simple counts. Must say I really sweated the 2nd wave correction down to 23.6%. IF there is any validity to this wave 3 back up should be a good one. (red line is middle of regression channel that begins Dec 29, only on this up grind). Though not perfect GOLD does follow, historically, Numbers as it is what 'FIAT' fears most. Quantum logic leap, I know, for those with faith and understanding. What troubles me about this present EW#2 is that MACD, ROC are NOT indicating a higher low from EW#5 (yesterday's low). Anybody??
Cobra, if this is second leg up as you mentioned yesterday, then it's missing 1/2 of its leg???

[SB73]

Is it just me or does TVIX looks bullish?

[KeiZai]

WOW MOTR is firing up again, I was early again

LOL, nice flag pole. DOW is going red

Yeah it was good play i posted it here few days ago but nobody respond, risky atm but will be on my watchlist for future trade (quick trade)

[Wallstreetrader]

No Hhigher into RUT
SPY: Almost double top if not.

[xfradnex]

support again. hmm, no face, almost every time when I'm sure the breakout would be on the upside, it goes the opposite.

Cobra, I have a VBA program that calculates trend lines from the highs of the day. Currently, there a very large unusual amount of upper resistance chanel lines going through 1352 area (and above) increasing at a slope of 1 to 2 points a day. S&P would have to jump up at least 20 point to clear this band(need real good news). Last time this large group appeared a few months ago, the S&P got tired of hitting this resistance and gave up, dropping for a period of a couple weeks to regain strength for a later push up. This maybe the case here (not enough experience to say for sure).

[ClarkW]

Wow UNG is one sick dog. I defended it and locked a .02 gain on it yesterday. I expected significantly better results, but had no intention of holding it if it got weak.[/quote]
UNG is busted. If SPX drops, UNG might rally. I still have 150 shares, currently underwater[/quote]
We need to either see a prolonged cold snap or some sort of supply destruction in order to get the price back to normal levels.[/quote]
A lot of UNG bears out there
How come I don't see anyone posting "short UNG" ?[/quote]

I'm indifferent on UNG. But got burnt a couple years ago as I watched $NATGAS go up and UNG not. I believe Peter Brandt is a well respected commodities guy. Here's an article from yesterday you might find intriguing.
http://peterlbrandt.com/bottom-to-natur ... long-last/

[soku]

bot couple calls for v er. lottery play

[Cobra]

well, guess that's it for today. as I said before, since this is the 2nd test of the previous high, so no failure allowed here. Let's wait for tomorrow. Thank you guys, I'll see you tomorrow.

[jarbo456]

bot couple calls for v er. lottery play

me too. but i bought them yesterday...so they're already up a little bit.

originally did a strangle, but sold the puts...going naked on these.

chart looks very strong.

[Petsamo]

If anyone wants to go long overnight, USO & XME are underbought