05/25/2011 Intraday Watering

[Cobra]

something wrong with bond? pink and green, a deadly combination.

[pablorynx]

bond auction came out well. explains the tick up in treasuries. Tick has been getting prgrssivly worse it seems.

[Cobra]

support. breakdown would either bad or a bear trap.

[waver]

"I am recommending more commodity trades in Live Cattle & Hogs.
You can get long COW or buy call options on that ETF.
This is the rationale and it's a good one."
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Hi Cletus, nice trade on silver's bounce!
I see you put red 3 on COW's recently high, where is your start point for your red 1 wave? Thx
-Waver

[StrikePrice]

Last two hours should be interesting.

If the Fib Fan finally gets broken then we'll def see 133.50 sometime tomorrow IMO.

[cougar]

"I am recommending more commodity trades in Live Cattle & Hogs.
You can get long COW or buy call options on that ETF.
This is the rationale and it's a good one."
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Hi Cletus, nice trade on silver's bounce!
I see you put red 3 on COW's recently high, where is your start point for your red 1 wave? Thx
-Waver

Hey guys! Thanks for the idea to look at “COW”. It has a TA-tradable chart and this is nice. However, options are illiquid and have an excessively large spread, IMHO.

[jamesmith]

support. breakdown would either bad or a bear trap. :mrgreen:

retested the trend line now? i shorted... :? :( :o :shock: :|

[bbc]

Besides shorting silver sometime tomorrow for a quick short trade (I think the timing will probably be short-term oriented, but we'll see how severe the selling gets), I am recommending more commodity trades in Live Cattle & Hogs.

You can get long COW or buy call options on that ETF.

This is the rationale and it's a good one.

cletus, what is your opinion on LC and LH?

[isothermal]

SPY p/c ratio is 2.73 now. It was 1.3 yesterday around this time.

Does this mean we're going to see higher high tomorrow?

[BullBear52x]

Now we are talking COW? where is Bulls and Bears? I have something on my computer, looks like Norton doesn't do its job. to post here take awhile too.

[Cobra]

SPY p/c ratio is 2.73 now. It was 1.3 yesterday around this time.

Does this mean we're going to see higher high tomorrow?

I noticed huge index call today. no idea what it means.

[StrikePrice]

SPY p/c ratio is 2.73 now. It was 1.3 yesterday around this time.

Does this mean we're going to see higher high tomorrow?

A Bullish final 2hr candle and close closer to 132.50 than 132 will answer this question IMO.

[cletus]

"I am recommending more commodity trades in Live Cattle & Hogs.
You can get long COW or buy call options on that ETF.
This is the rationale and it's a good one."
----------------------------------------------------------

Hi Cletus, nice trade on silver's bounce!
I see you put red 3 on COW's recently high, where is your start point for your red 1 wave? Thx
-Waver

Hey guys! Thanks for the idea to look at “COW”. It has a TA-tradable chart and this is nice. However, options are illiquid and have an excessively large spread, IMHO.

lol, indeed you are right

[cletus]

"I am recommending more commodity trades in Live Cattle & Hogs.
You can get long COW or buy call options on that ETF.
This is the rationale and it's a good one."
----------------------------------------------------------

Hi Cletus, nice trade on silver's bounce!
I see you put red 3 on COW's recently high, where is your start point for your red 1 wave? Thx
-Waver

I took this count from another site (not mine), but I collect the best trading ideas from around the web.

I think that wave 3 is a 3 in a downtrend, so we're looking for a wave 4 to be long, then short it for a concluding wave 5 down in the summer.

[bbc]

SPY p/c ratio is 2.73 now. It was 1.3 yesterday around this time.

Does this mean we're going to see higher high tomorrow?

I noticed huge index call today. no idea what it means.

in terms of volume, nope, here's top 10 traded SPY options today


Jul11 119 Puts .57 -.06 103252
Jul11 126 Puts 1.44 -.17 50184
Jul11 112 Puts .25 -.01 49309
May11 133 Calls .30 -.01 40495
May11 131 Puts .26 -.23 40406
May11 132 Puts .53 -.27 40055
Jun11 118 Puts .15 -.04 34637
Jun11 121 Puts .25 -.06 34005
Jun11 130 Puts 1.41 -.28 33535
Jun11 112 Puts .14 unch 32085


in terms of open interest, I see much more liquidation of call than put.

Today Total Call Put
Volume 1416910 379,693 1037217
Open Interest 17202003 4943938 12258065

Yesterday Total Call Put
Volume 1608667 667,841 940,826
Open Interest 16770181 4761938 12008243

[bbc]

SPY p/c ratio is 2.73 now. It was 1.3 yesterday around this time.

Does this mean we're going to see higher high tomorrow?

I noticed huge index call today. no idea what it means.

if you talked about SPX, yes, mass call volumes

18 Jun11 1315 Puts 19.00 -3.00 17468
18 Jun11 1350 Calls 5.60 +.40 14586
18 Jun11 1250 Puts 4.70 -1.30 11607
18 Jun11 1315 Calls 21.00 +1.00 10380
18 Jun11 1300 Puts 13.10 -2.70 9286
18 Jun11 1380 Calls 1.00 +.05 9078
18 Jun11 1300 Calls 31.00 +2.00 9009
18 Jun11 1340 Calls 9.30 +1.30 7973
17 Sep11 1450 Calls 3.80 +.20 7856
18 Jun11 1375 Calls 1.35 +.10 7558


and mildly bullish signal here:
Today Total Call Put
Volume 353,438 166,931 186,507
Open Interest 13570333 5002637 8567696

Yesterday Total Call Put
Volume 460,647 162,275 298,372
Open Interest 13434130 4973282 8460848

[StrikePrice]

We have a BO above the fib fan. Next test is high of the day but I believe if it holds above Fib Fan into close Bulls can sleep easier tonight.

Last two hours should be interesting.

If the Fib Fan finally gets broken then we'll def see 133.50 sometime tomorrow IMO.

[Cobra]

here comes the retest of the morning high finally.

[viewer]

Cobra, this is the Momorial week. Should be bullish, right?

[cletus]

I noticed yesterday a discussion about ISEE and how many puts were bought.

There was something curious about yesterday. Retail traders were buying relative huge amounts of puts, yet the overall put call ratio was low at 0.81. That means retail traders were buying a huge amount of puts while SOMEONE ELSE was buying a lot of calls. I would guess market makers. This all points to some serious upside in the near future, not necessarily meaning a bottom is in.