11/22/2012 Thanksgiving Day Chat

[Cobra]

Open this thread in case people want to chat during the Thanksgiving Day. I know some people are crazy about trading, like to talk it 24/7 and 356. So welcome!

[Cobra]

One thing I found interesting is, SPY huge block sell on Nov 20. $340M out flow is a very large number. Also for IWM, for 2 days in a row, all outflow were from block sell.

Well, may not mean anything, I just found it's interesting.

[Cobra]

ES for now, looks like a Rising Wedge which is bearish biased in theory, it may take fairly long time before wedge could work though, so I don't trade wedge. The similar thing is divergence which implies a reversal in theory but again it may take very long time to work, so I generally don't trade divergence as well.

[vikasrao]

Thanks for opening up the thread Cobra Euro looks it had a strong reversal bar yesterday? Still consider it a bear flag?

[Cobra]

Thanks for opening up the thread Cobra Euro looks it had a strong reversal bar yesterday? Still consider it a bear flag?

Yes, still looks like a bear flag.

[SigmaEcho]

Open this thread in case people want to chat during the Thanksgiving Day. I know some people are crazy about trading, like to talk it 24/7 and 356. So welcome!

thanks Cobra.
looking after your european customers!

[wayne0708]

Cobra:
I hope you don't mind that I borrowed your chart and edited a lil for my viewing purposes.

[Cobra]

Cobra:
I hope you don't mind that I borrowed your chart and edited a lil for my viewing purposes.

Sure, no problem.

[Cobra]

Futures now still pretty much a Rising Wedge looking, not very good looking as the slope is too steep.

[Cobra]

TSX, the morning enthusiasm is fading...

Interesting to see how Canadian predicts SPX tomorrow. XSP.TO is Canada version of SPY. While US is closed today but XSP.TO still can be traded, so it somehow reflects how Canadian predicts the SPY.

[MrMiyagi]

Take a break Cobra!! Go sleep a little.

[Cobra]

Wow, RIMM is on fire. This bull shall have legs.

Long term, it has a long way to go though.

[MrMiyagi]

I'm going to go veg on the couch now...

[KeiZai]

Have a great Turkey day folks!

P-bar fans, after a longer timeI have 2 "bars" pointing down, however just small ones...same on silver

Russell

[MrMiyagi]

Ah.. what the hell...

[pezhead9000]

RIMM - waiting for the 13ema

[Cobra]

Ah.. what the hell...

[pezhead9000]

Intel @ support

[Cobra]

Intel @ support

Hard to say, because your chart is not dividend adjusted, while dividend adjust chart is far from the support yet.

[pezhead9000]

From stockcharts blog - consumer discretionary
http://blogs.stockcharts.com/chartwatch ... -dive.html