10/19/2012 Live Update

[Himoe]

Cobra,

Did yesterday count as a bearish engulfing candle? Would today's action if we close around here defy the 100% green next day record?

[MrMiyagi]

I dunno why POT is no longer liked. Below is MOO divided by POT. High numbers mean POT is weak.

Thanks Petsamo, I'll look at something else. It's for my mom so it has to be on the Canadian side and I have a few miners in there already.

[TWT]

SPX: Price could be approaching a short term bottom

[Cobra]

members only update at 2:05pm
http://www.cobrasmarketview.com/2012/10 ... ay-update/

[Petsamo]

I dunno why POT is no longer liked. Below is MOO divided by POT. High numbers mean POT is weak.

Thanks Petsamo, I'll look at something else. It's for my mom so it has to be on the Canadian side and I have a few miners in there already.

In my opinion, CLF, MCP, WLT, X are in buy the dip mode.
ETFs in buy the dip mode is KOL, REMX, REM, XME, SLX. REM is a mortgage ETF with a dividend yield of 11+%.
Don't buy until I predict a gap up the following day.

[Tabby]

Not for intraday bounce.
It's a highly profitable company but gives lousy dividends.
POT is very underbought relative to MOO, the ETF it belongs to.

I was thinking a few days seeing it is below the BBand.

I dunno why POT is no longer liked. Below is MOO divided by POT. High numbers mean POT is weak.

I have EX date for dividend 10/11/2011. You won't get dividend if you buy it now.
POT sitting below 10EMA,50EMA,100 EMA. and as well as out of wedge,

http://finviz.com/quote.ashx?t=pot

[Cobra]

bulls hope is VIX close above BB top today.

[Al_Dente]

Al Dente, cant find your reply button but here are a few of my VIX charts:
http://stockcharts.com/h-sc/ui?s=$VIX&p ... 9305529881
http://stockcharts.com/h-sc/ui?s=$VIX&p ... 6526067286
http://stockcharts.com/h-sc/ui?s=$VIX&p ... 3735260987

THANKS jademann NICE vix charts
VIX also pierced the default (20/2) bolinger band on the daily (regardless of where she closes today)
ps the reply button is inside this box right here………top right……just click ”QUOTE” box……..

[Harapa]

IWM is forming classic bullish flag with declining volume (http://www.trending123.com/patterns/bull_flag.html)

There is some more room for the down side here. I see same pattern for SPY and QQQ (already at the lower trend line). Is rebound in cards? I expect VIXies to tell me (a wish) before it starts

[Cobra]

Cobra,

Did yesterday count as a bearish engulfing candle? Would today's action if we close around here defy the 100% green next day record?

No yesterday was not Bearish Engulfing, it's Harami at the most.

When reading candlestick pattern, you should use SPY, not SPX, because in 90% cases, SPX daily open is yesterday's close, it doesn't reflect the correct open price. This is a known problem for years. A serious candlestick analyst should know this.

Even you use SPX, yesterday still is Harami.

[Me XMan]

This down draft is deeper than I had thought. Maybe market wants 1425 before the DCB.

[Petsamo]

Not for intraday bounce.
It's a highly profitable company but gives lousy dividends.
POT is very underbought relative to MOO, the ETF it belongs to.

I was thinking a few days seeing it is below the BBand.

I dunno why POT is no longer liked. Below is MOO divided by POT. High numbers mean POT is weak.

I have EX date for dividend 10/11/2011. You won't get dividend if you buy it now.
POT sitting below 10EMA,50EMA,100 EMA. and as well as out of wedge,

http://finviz.com/quote.ashx?t=pot

They drop the price by the amount of the dividend, so personally, I'm not concerned about the dividend. It's negligible anyway.

[Jack12]

Who thinks there will be a late day rally? If so, where do we close? just fun and games.

It would not supprise me if we popped up and closed the gap

me too. lots of time left in the session.

on second thoughts first we go to 1420ish before a bounce

[Petsamo]

OMG I can't believe it. They're slamming JNK, but they're leaving PHK alone.

[fehro]

VIX Daily.

[Cobra]

another failed rebound attempt. nothing to say, wait.

[Me XMan]

Just went clown long $143.15 for first batch

[Out of Bounds]

OMG

[Cobra]

volume surge, biggest bar again, wait, could be another rebound attempt here which should fail again though.

[deeko]

Who thinks there will be a late day rally? If so, where do we close? just fun and games.

It would not supprise me if we popped up and closed the gap

me too. lots of time left in the session.

on second thoughts first we go to 1420ish before a bounce

I changed my mind too. We'll hit 1427 before a weak bounce to 1435 for the close. How does that sound?