05/26/2011 Intraday Watering

[cletus]

Buying some ZSL here. I'm not at a full position yet on shorting silver but will be by the end of the day.

[99er]

Some music while we wait?
"When The Levee Breaks."
http://www.youtube.com/watch?v=xbJQT2eDseA

[uempel]

Update:

[lilitulip]

Buying some ZSL here. I'm not at a full position yet on shorting silver but will be by the end of the day.

Hi Cletus, how high you think ZSL could go? thank you

[cletus]

Buying some ZSL here. I'm not at a full position yet on shorting silver but will be by the end of the day.

Hi Cletus, how high you think ZSL could go? thank you

Not sure but min target is 18.50 to 19...max target is 24 or slightly higher to correspond to silver testing the 200 MA around $30.

Really I think this is the start of another B wave because I feel silver still hasn't fully corrected upwards since the "crash", but we'll see how price reacts. I am doubtful silver tests 30 before it breaks up to 40 or higher.

This is a trade I'll hold for a day or two at minimum.

[stockcycle]

Final call for long TYH , ROC and MDSO

[cletus]

I think gold is actually a safer short here than silver. Definitely I have bought puts on GLD yesterday in anticipation of a wave lower.

[uempel]

Update of the hourly SPX. One of the momentum indicators is about to cross into bullish territory, but the idea is that all three indicators have to give a bullish signal, and that's still far away:

[Cobra]

double bottom target almost reached, but i think should be more, may pullback a little from here though.

[stockcycle]

Update of the hourly SPX. One of the momentum indicators is about to cross into bullish territory, but the idea is that all three indicators have to give a bullish signal, and that's still far away:

SPX10.png

Some times we must take one step before/earlier than...Mr. Market.

[uempel]

Update:

[Zig]

double bottom target almost reached, but i think should be more, may pullback a little from here though.

Nice call Cobra! Looks like it needs a bit of a rest now.

[Namo]

double bottom target almost reached, but i think should be more, may pullback a little from here though.

Nice call Cobra! Looks like it needs a bit of a rest now.

Dittio that, you have a gift!

[agnosia]

good call cobra. now we have the inverted h&s on the hourly which should bring us up to the 1330 gap.

[KENA]

for the longer term traders, As far as over bought and over sold conditions, daily chart indicates more down side before the RSI is really got over sold. all other indicators/oscillators can stay imbeded for some times. also we come this far from the top to make a sharp turn from here they would not get the true dip buyers on board. the one good indication is the money flow/liquidity CMF 21 is still flirting above 0 if this one drop below 0 I will expect weeks of weakness to come. there you go my rant of the day.

Hope you are right.This 1319/1313 area has a lot support/Resistance.The dippers just pile in.We need to gap thru or we will just sit here.Wait and see

[Cobra]

a little resistance ahead but bulls look promising here.

[cougar]

Excellent calls today, Cobra! The FORCE is with you!

[Cobra]

Excellent calls today, Cobra! The FORCE is with you!

come on, only today?

[Mr. T]

Yes, only today...... lol

[Cobra]

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