05/07/2012 Live Update

[Cobra]

well, looks like I lost the last call, could be H&S Top break down here...

[MrMiyagi]

Where are all the buyers? Where is Ben?

[OverUnder]

Long way to go in last 5 mins for perfect call. Could happen. Boring market today, contrary to expecations. Not a time to go short.

[lazytrader]

I was looking for a hollow red bar on spy..

[Cobra]

well, guess that's it for today. not bad for bulls, so we might see more rebound in the coming days, just don't forget the big picture is now down. thank you guys, I'll see you tomorrow.

[SWalsh]

They never leave early either!

[MrMiyagi]

Major reversal tomorrow SPX up 15 points.

Maybe. 50-50.

[Petsamo]

Where are all the buyers?

Did IWM answer your question?

[snakehead]

Where are all the buyers? Where is Ben?

Did you spot any strange P-bars today, Sensei?

[MrMiyagi]

Did you spot any strange P-bars today, Sensei?

Yes

Did IWM answer your question?

Yes?

[Petsamo]

Did you spot any strange P-bars today, Sensei?

Yes

Did IWM answer your question?

Yes?

You ignored that p-bar at 11 am.

[MrMiyagi]

You ignored that p-bar at 11 am.

Maybe, I generally don't count it as a p-bar if it has a decent candle attached to it. No hard rules here though so you may be as right as I am wrong.

[garygld]

aapl update: overshot. http://stockcharts.com/public/1684859/c ... /260183775;

Cobra, in after-hours apple hit 570, so could this be the second leg or was the chance over as you updated today, meaning that 570 is the small rebound that will fail. If the latter is true then can we expect aapl to go only down for a while?
Thank you

[SWalsh]

I'm on a triple secret probation sell! Seriously. Risk? 15 handles. Profit? 100+

[Petsamo]

On my trades today, I went into a not-so-offensive posture by getting rid of X & EWP (Spain). In looking at the futures, NASDAQ 100 -3.25, it's looking like it was the smart move.