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05/29/2012 Live Update

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KeiZai
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Re: 05/29/2012 Live Update

Post by KeiZai »

snakehead wrote:
KeiZai wrote:Euro fractal chart "borrowed" from izz@ mate

So, you are predicting a (short-lived) 'snap-back' rally in the EUR/USD?
Yep I think short squeeze "rally" is possible towards 1.27 max 1.28
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
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SWalsh
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Re: 05/29/2012 Live Update

Post by SWalsh »

Is everyone enjoying the computers today? I don't think a 10 tick SPY trade occurred today without a HFT hitting it. Volume stinks. It will only get worse because when they trade it's in front of an order.
"I told you...................bring me everyone"...http://www.youtube.com/watch?v=MrTsuvykUZk
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Mr. BachNut
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Re: 05/29/2012 Live Update

Post by Mr. BachNut »

TraderGirl wrote:We had another p-bar on the SPY that meant nothing...wonder if this one will have any significance other than filling a gap...???
It may be a dud, but sometimes they take an extra day or two to play out.

I am going to keep it in mind because I may get a buy signal emerging on one of my setups perhaps by the close tomorrow or more likely Wednesday if things don't start to crater soon.

So, here I am looking for the bear flag of the last several days to resolve on the downside, while bullish tells are starting to appear...
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Petsamo
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Re: 05/29/2012 Live Update

Post by Petsamo »

I'd like to see a fake bear move
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MrMiyagi
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Re: 05/29/2012 Live Update

Post by MrMiyagi »

Dump to the close. Another day over with.
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Cobra
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Re: 05/29/2012 Live Update

Post by Cobra »

Well, guess that's it for today. I don't know tomorrow, but the intraday chart doesn't look bad for bulls (yes bulls). Thank you guys, I'll see you tomorrow.
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Medman
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Re: 05/29/2012 Live Update

Post by Medman »

Whipsawed today badly!
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MrMiyagi
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Re: 05/29/2012 Live Update

Post by MrMiyagi »

Thanks Cobra.
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Al_Dente
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Re: 05/29/2012 Live Update

Post by Al_Dente »

fulkdaddy wrote:
Al_Dente wrote:squeeze XIV will SPY follow?
Al, what does XIV tell us and how do you use it for market timing?
Thank you,
David
daddy:
XIV is a long spy proxy-ish-oid
Kind of like the inverse of VIX but not quite
More like the inverse of VXX (except VXX is 2x)
All the vixies are based on VIX futures, not the $VIX volatility index

It’s spooky how often XIV leads SPY
And just when you think she will again…. she won’t….
(How do i use her? I assume she leads... and i follow... with confirmation from other indicators... she is ONLY one)
GL2U 8-)
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
ken_d17
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Re: 05/29/2012 Live Update

Post by ken_d17 »

RIMM news pretty bleak.
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snakehead
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Joined: Tue Mar 06, 2012 4:57 pm

Re: 05/29/2012 Live Update

Post by snakehead »

My take on today:

Now it all makes sense.

We will get a HUGE snap-back rally in the EUR/USD (mother of all short squeezes in the Euro.)
That will cause a pop in all risk assets. That will cause the SPY p-bar we saw today to go into effect. $DAX will make
a head-fake and close above 6400. This will be a bull trap.
Then Euro will hit the 1.30 resistance like a brick wall then plummet. Causing global markets to implode. $VIX to like 70-
ish. $DAX finally dumps below current H&S neckline.

:lol:
"We got a runaway train boy, we got a billion Eddie Barzoons all jogging into the future. Every one of 'em getting ready to fist-#### God's ex-planet, lick their fingers clean as they reach out toward their pristine, cybernetic keyboards to tote up their f##ing billable hours. And then it hits home!"
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MrMiyagi
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Re: 05/29/2012 Live Update

Post by MrMiyagi »

ken_d17 wrote:RIMM news pretty bleak.
Did anyone think that RIMM would actually be a viable company again? I'm surprised they are still around.
ken_d17
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Re: 05/29/2012 Live Update

Post by ken_d17 »

MrMiyagi wrote:
ken_d17 wrote:RIMM news pretty bleak.
Did anyone think that RIMM would actually be a viable company again? I'm surprised they are still around.


Me too. I am amazed at how long it took to get here.
737controller
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Joined: Mon Sep 19, 2011 2:59 pm

Re: 05/29/2012 Live Update

Post by 737controller »

Anyone think the correlation to the NYSE will bring down the S&P500 tomorrow when the NYSE bounces off it's 200 MA....could not close above it today....I added to my shorts via sds this morning because with a correlation of 1.0 lately I bet they both go down tomorrow....any thoughts?
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snakehead
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Re: 05/29/2012 Live Update

Post by snakehead »

737controller wrote:Anyone think the correlation to the NYSE will bring down the S&P500 tomorrow when the NYSE bounces off it's 200 MA....could not close above it today....I added to my shorts via sds this morning because with a correlation of 1.0 lately I bet they both go down tomorrow....any thoughts?

Everything dependent on EUR/USD.

If there is a snap-back rally, watch out. Major short squeeze/bull trap. Use any strenght to get out of long equity positions.

However, if EURO crumbles here (doesn't seem likely as most trading appears drug- and hopium- and rumour- induced), that will take DAX down decisively below H&S neckline causing global sell-off.

Keep an eye on this index: watch out for short squeeze:
http://finance.yahoo.com/q?s=EURUSD%3DX&ql=0
"We got a runaway train boy, we got a billion Eddie Barzoons all jogging into the future. Every one of 'em getting ready to fist-#### God's ex-planet, lick their fingers clean as they reach out toward their pristine, cybernetic keyboards to tote up their f##ing billable hours. And then it hits home!"
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Petsamo
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Re: 05/29/2012 Live Update

Post by Petsamo »

Anyone know why USO is very weak relative to SPY ?

Larry Kudlow said that the US has 200 years worth of technically recoverable oil. Plus, there's Canada. We don't need Saudi Arabia. What's standing in the way of a serious bear market in oil is Obama and his environmentalist leftists.
Twitter @jackwag0n
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SWalsh
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Re: 05/29/2012 Live Update

Post by SWalsh »

Al_Dente wrote:
It’s spooky how often XIV leads SPY
You don't get it yet? I thought everyone was paying attention. Split seconds before HFTs hit stocks they hit the volatility instruments. They miss no opportunity to institutionally rape the public. So if they are going to run it up they hit VXX first, but you'll never react quick enough to be in on it and if anything, they'll turn it the other way against those who were 2-5 seconds late and tried to join them.

The market is an accounting venture designed to remove capital by the banks who are privileged enough to contribute many millions of dollar to our new Caesar in return for favorable odds.

What enlightened voters we had in 2008....did the economy a real service....nice job...and speaking of jobs, when the trader tax hits, where's everyone working next. :roll:
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xfradnex
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Re: 05/29/2012 Live Update

Post by xfradnex »

Daily Elders turning Green overall. Germany, French, AND Brits don't care about Spain and Italy. XLP, XLY,HD, F and CHK seem to be strong. It looks like F is doing well after a long beating. :) :( :) :( Oh yah, FB still looking for bottom because they lost their :twisted: ss. :cry:
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Last edited by xfradnex on Tue May 29, 2012 10:31 pm, edited 1 time in total.
Flip that coin.

Legal note:Don't believe anything I say above. You may lose yourA$$..
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xfradnex
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Re: 05/29/2012 Live Update

Post by xfradnex »

http://finance.yahoo.com/news/u-winds-d ... 09517.html Next job report may not be so good :shock:
Flip that coin.

Legal note:Don't believe anything I say above. You may lose yourA$$..
My chart has Daily Elders (Close, High, and Low), MA-2, CCI, and ATR for each stock; all color coded.
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