03/05/2012 Intraday Watering

[Petsamo]

I guess we have good news

[MrMiyagi]

Barrack's team will buy this market into the green, they were just a little busy today after a weekend.

[BullBear52x]

My bear flag ends here, can't fight them join them not today. I am done intraday.

Thanks Cobra and everyone, GLTA

TA note: SPY trend change so far so good, there should be a big fight. be nimble or stay safe.

[KENA]

Come on bears,of all days this is the day to close red.

[stucap]

Come on bears,of all days this is the day to close red.

i bet cobra will have some stats that will say a red close today will be bullish......so either way bears are screwed again.

[victorm]

GONNA GET DRUNK TONIGHT !!!!

NO beer for you XMan today again

[BullBear52x]

Come on bears,of all days this is the day to close red.

IWM closes at where we are here will create nice bullish hammer, but like any hammer, need confirmation, so I am not buying it yet but should give them a benefit of a doubt. just held on what you short since last week until they got taken out, that's the plan. GL

[TWT]

DOW: The ED should be completed ( it cannot go on forever) but the pullback lacks "impulsiveness".

The absence of an impulsive down leg should not prevent a correction but if the revesal is in progress it is going to be tough to trade short positions as corrective EWP can morph easily. ( I prefer impulsive 5-wave move rather than crappy corrective moves.

Lets see what kind of eod we have

(thewavetrading)

At this point, I'm not even sure what the hell is going on with Elliot Waves. Everything is so whacked.

I have never seen anything like this .......

[fehro]

bear flag? retest of the descending wedge? or just a larger triangle.. more chop ahead?

[btran874]

Bought aapl at $531. Stop loss LOD. Let's see a new high AAPL.

[BullBear52x]

You got two choices, pick one. I out the here for real, bye!

[waverider]

Agree BB, we could retest the highs here

[ZimZeb]

[Cobra]

well, another V shape reversal, nothing to say.

[btran874]

Hahhaa, what a day. Dow is going green in 5, 4 , 3 , 2, ....

[johnnywa]

[qquote="Cobra"]well, another V shape reversal, nothing to say. [/quote]
I give up,about 10th time bears couldn't seal the deal

[fehro]

$RUT. not the cleanest pattern. H&S? right shoulder to 810? retest?...or ascending triangle.

[SWalsh]

here's why I think the rebound is a little bit weaker because it's already 3 push and they're overlapping. that said, anything can change in a matter of minute, so I just mean now, the rebound seems weak.

same dance every day. bears would have a chance if they could get some more time down at the lows. but, bears only get 5 minutes --- one candle (!!!) to break --- while bulls will hug the top of this triangle/flag/whatever for hours.....until they get that one pop from an algo on low volume that causes the MELTUP! [yes the one i'm watching right now......]

sucks to be a bear....

Do you recall around 1100 SPX, when Roubini had been saying "Enjoy it now because it's not over going down", he suddenly said the lows would not be seen again and all had gotten much better? Roubini is in academia and leans liberal. Think his buddy Larry Summers might have said, "Nouriel, throw us a bone?" That leads me to the next consideration. After they almost lost the market in August in a panic and liquidation, and had to stuff the system with quotes and almost crashed Nasdaq to stop it, do you think it is impossible that the major money managers were told, "just don't sell...we are going to support the market"? Because I have seen corruption I am not about to put into print. And IMO, "...when you have eliminated the impossible, whatever remains, however improbable, must be the truth?" (hat tip Arthur Conan Doyle)

No one sells....period!

[btran874]

I'm cashing out aapl just in case. Dow just hit 78.6% and I don't like it and scared.

[Mr. T]

DOW: The ED should be completed ( it cannot go on forever) but the pullback lacks "impulsiveness".

The absence of an impulsive down leg should not prevent a correction but if the revesal is in progress it is going to be tough to trade short positions as corrective EWP can morph easily. ( I prefer impulsive 5-wave move rather than crappy corrective moves.

Lets see what kind of eod we have

(thewavetrading)

At this point, I'm not even sure what the hell is going on with Elliot Waves. Everything is so whacked.

I have never seen anything like this .......

And you never will again....... until tomorrow.