02/14/2012 Intraday Watering

[Cobra]

Gap down but within yesterday's range so the gap might be filled.

Global ES, until the yesterday's low was taken, otherwise it's still consolidation therefore chances are higher it'd breakout on the upside.

[Al_Dente]

Happy Valentine’s Day

Lest you think that “trend followers” are like lemmings blinding following SPY, rest assured that the sheep see the same danger signals
that everyone else does…

Assume for a moment that among the most important pieces of the market puzzle are the transports, $VIX, bonds and the dollar.
When NONE OF THESE confirm a $SPX/$INDU high it is a big red flag, and they demand to be carefully watched.
They must start moving in the direction of confirmation soon, if the SPY rally has any plans for continuation.
http://stockcharts.com/h-sc/ui?s=$INDU& ... =257277799

For comparison, here are the same, showing who confirmed/non-confirmed at the final Oct 2007 top:
http://stockcharts.com/h-sc/ui?s=$INDU& ... listNum=15

But until SPY gets this memo, all that trend followers can do is play this rally until it turns, and in longer term portfolios,
lighten up and/or keep adding cheap puts at highs.

[Cobra]

Happy Valentine’s Day

Lest you think that “trend followers” are like lemmings blinding following SPY, rest assured that the sheep see the same danger signals
that everyone else does…

Assume for a moment that among the most important pieces of the market puzzle are the transports, $VIX, bonds and the dollar.
When NONE OF THESE confirm a $SPX/$INDU high it is a big red flag, and they demand to be carefully watched.
They must start moving in the direction of confirmation soon, if the SPY rally has any plans for continuation.
http://stockcharts.com/h-sc/ui?s=$INDU& ... =257277799

For comparison, here are the same, showing who confirmed/non-confirmed at the final Oct 2007 top:
http://stockcharts.com/h-sc/ui?s=$INDU& ... listNum=15

But until SPY gets this memo, all that trend followers can do is play this rally until it turns, and in longer term portfolios,
lighten up and/or keep adding cheap puts at highs.

The market is very bullish, so nowadays less and less people are interested in reading market comments anymore.

[Cobra]

the open. if this is a typical day after a big up day (yesterday) then the morning dip will be bought, the market would try new high again today. let's see. I said if it's typical day.

[Petsamo]

The Nikkei, Hang Seng, & India, all rallied from their open for a second day.

[Al_Dente]

Snake: where is everybody?
This is spooky

Here’s one for jarbo:
Jarbie, MUB went batshite again yest !!! (check hourly, sheeesh)

[Cobra]

Snake: where is everybody?
This is spooky

Here’s one for jarbo:
Jarbie, MUB went batshite again yest !!! (check hourly, sheeesh)

It's typical when market gets very bullish, nobody bother to read market comments anymore, so if the market keeps going up and up then we'll have less and less water here.

[stucap]

VWAP should hold this thing up. So if it decides to drop a little here, play the double bottom on the ES at around 1343.

[jimme]

Snake: where is everybody?
This is spooky

Here’s one for jarbo:
Jarbie, MUB went batshite again yest !!! (check hourly, sheeesh)

Al,

I,m right here and good trading today. I still own GLD puts and feel that it will be rewarding. Good luck to all. jimme

[KeiZai]

GM,

from Mels: The NYSE Net Advancing is -1222 and the down volume is 2.6 to one. The NASDAQ Net Advancing is -870 and the down volume is 1.5 to one

[jarbo456]

XLF weak relative to the market. a marginally good sign for bears...IMO.

[SB73]

Take a look at a 15 min chart on TVIX...nice support at the breakout area of 16.

[KeiZai]

Hi AL,

what about VIX today? Looks like is strong, right?

[Pharmboy]

SGEN - buy the weakness or sell the June $17.5 put.....good time to start accumulating.

[KeiZai]

GM,

from Mels: The NYSE Net Advancing is -1222 and the down volume is 2.6 to one. The NASDAQ Net Advancing is -870 and the down volume is 1.5 to one

Bulls: 0 extreme ticks and bears: 4 extreme ticks. 9% pos ticks. $SPX Net Advancing is -74. Range is 1.94. We are at 85.6% of Range.

[Al_Dente]

Hi Keizai: I can’t buy tvix/vxx yet but hopefully soon
Here’s vix on my “bear cub” watch
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

PS: Carry on jimme

[Petsamo]

Da banks are feeling no love today

[soku]

need bad data to send es below support around low 1330

[Cobra]

key time. hold here would be double bottom.

[jimme]

[quote="Al_Dente"]Hi Keizai: I can’t buy tvix/vxx yet but hopefully soon
Here’s vix on my “bear cub” watch
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

PS: Carry on jimme[/quote

Thanks al. SPY lod right here, dollar looking very strong. GLTA jimme]