03/08/2011 Intraday Watering

[Cobra]

Little trend line here.

[simpletrader]

reach trendline resistance?

[Me XMan]

132.55 broken. Trending up today IMO.

If you go short SPX here, where's the stop-loss?

Low risk short, Hi risk long here IMO WDIK?

see my chart posted earlier the top triangle breaking out is a stop. 132.55 area.

[simpletrader]

close some long here.

[BullBear52x]

132.55 broken. Trending up today IMO.

see my chart posted earlier the top triangle breaking out is a stop. 132.55 area.

[/quote]
Pulls back around 132.34 I will tag along the long bus. below that let the short ride.

[Fritz Baxter]

Clearly rotation out of energy into financials.

[zombiebraingoo]

BKX bounce right off of support at 52...

12200 is breakout on dow

1322 for spx

looks like the bulls are back until june

[KENA]

Right or wrong I sold my spy call from yesterday,sometimes when I get greedy I sell for less. Now I waite for a short or something.

[99er]

SPX
Third touch is a charm.
http://99ercharts.blogspot.com/2011/03/spx_9071.html

[Cobra]

Again, don't short at least not until the trend line broken. Today bull is strong.

[BullBear52x]

Again, don't short at least not until the trend line broken. Today bull is strong.

Thanks, nice chart there didn't see that.

[simpletrade]

Thanks balance for your reply.
Sold 1/3 of SINA for a nice profit. For the rest, I sold March's ITM (85) covered calls.
Also sold ITM(80)covered call on SOHU I bought yesterday.

[Cobra]

The concern today is QQQQ a little weak.

[BullBear52x]

Start selling INTC and MU again here. these guys look weak still in the red the whole morning.

[balance]

WW Update. Obviously I missed the 'big picture'.
New update on spx and with /cl to support it. FWIW.
http://www.screencast.com/users/Balance ... 9498ec91b3
http://content.screencast.com/users/Bal ... 0308CL.png

[Me XMan]

Don't fight this idiot uncle benny.

The Fed's purchase of $7.657B in Treasurys of $29.504B offered - including more than $7B worth of last month's seven-year note - hasn't lifted the government bonds today, with yields +0.03 across the board. The 10-year note yields 3.544%.

SPX
Third touch is a charm.
http://99ercharts.blogspot.com/2011/03/spx_9071.html

[Cobra]

Measured move, max is yesterday's high.

[Me XMan]

May is my time frame to short unless uncle benny gives QE3 then hell breaks loose with SPX going 2000.

BKX bounce right off of support at 52...

12200 is breakout on dow

1322 for spx

looks like the bulls are back until june

[Cobra]

A little channle line here.

[simpletrade]

Don't fight this idiot uncle benny.

The Fed's purchase of $7.657B in Treasurys of $29.504B offered - including more than $7B worth of last month's seven-year note - hasn't lifted the government bonds today, with yields +0.03 across the board. The 10-year note yields 3.544%.

SPX
Third touch is a charm.
http://99ercharts.blogspot.com/2011/03/spx_9071.html

Agreed, don't fight the market. Since I longed SINA, I started to recover the losses early this year in shorting the market, almost even now.
I like Cobra's approach, just read the market, not predict it in the long term.
But really appreciate all you guys inputs, it's great to see experienced traders make their calls...