06/14/2011 Intraday Watering

[99er]

SPX
Update.
http://99ercharts.blogspot.com/2011/06/spx_14.html
Expanded channel.

[feibingjia]

ban zhang, you said in your report yesterday: "...So if huge rebound starting from tomorrow, since I see no panic here then most likely it’s a sell opportunity"
so is it a good idea to move the stop lose back to 6/6 low (SDS)? Right now, my stop lose for SDS is a bit lower than 6/9 low (SDS) as you suggested. I"m following Cobra Impulse System.

if you follow CI system, then you should not move your stop loss. but if you look at Short-term model, it's logic to use 6/6 low as stop loss.

Thank you, Ban Zhang!

[BBFinance]

Done

Will Short more if Gap Close

Thanks. You are a pro.

[cletus]

*****************
TRADE ALERT
*****************

Close UNG July 12 puts at 0.67. UNG is testing the 20 day moving average, the principle cycle is still up so I expect a possible bounce here at some point in nat gas. We may even see a long opportunity here soon.

Profit: +35% in 4 sessions

[I_Got_Prechterized]

"I don't know, but I know the S&P will make new highs eventually. So the question you can ask is, do you want to game the short term moves or just hold until the S&P hits new highs?

In other words, would we rather get a guaranteed 110 S&P handles from here or try to short for the last 10-20 handles of the sell off (if they come) and try to get a little lower price. To me, it's irrelevant."
cletus


Umm, we're traders. You seem like an investor. And nothing's guaranteed. Explain your theory to the people that bought at Nasdaq 4500 when it had dipped from 5000 in 2000. Despite a monster rally, we're at Nas 2600.

[Bencat]

ok, i see breakout 30 min OR here, so the min target as tinted area, 80% chances.

small RS =129.3-129.5, if BO this zone, bulls will win today.

[cletus]

I don't know, but I know the S&P will make new highs eventually. So the question you can ask is, do you want to game the short term moves or just hold until the S&P hits new highs?

In other words, would we rather get a guaranteed 110 S&P handles from here or try to short for the last 10-20 handles of the sell off (if they come) and try to get a little lower price. To me, it's irrelevant."
cletus


Umm, we're traders. You seem like an investor. And nothing's guaranteed. Explain your theory to the people that bought at Nasdaq 4500 when it had dipped from 5000 in 2000. Despite a monster rally, we're at Nas 2600.

I'm a trader, not an investor, but I also have common sense. Think of it this way -- how many commissions will you blow through trying to game the short term moves? And how efficiently will you trade those swings as to maximize profits? When a guaranteed 110 handles sets up, it's more logical to buy and hold until the objective is achieved. I will be playing some short term moves with puts here, but that's it.

[99er]

Copper
That should do it.
http://99ercharts.blogspot.com/2011/06/copper_14.html
Risk now off.

[proteus46]

Looks like a rally for a few days. Our economy has too many problems and not enough catalysts for
a major rally.

[BBFinance]

I don't know, but I know the S&P will make new highs eventually. So the question you can ask is, do you want to game the short term moves or just hold until the S&P hits new highs?

In other words, would we rather get a guaranteed 110 S&P handles from here or try to short for the last 10-20 handles of the sell off (if they come) and try to get a little lower price. To me, it's irrelevant."
cletus


Umm, we're traders. You seem like an investor. And nothing's guaranteed. Explain your theory to the people that bought at Nasdaq 4500 when it had dipped from 5000 in 2000. Despite a monster rally, we're at Nas 2600.

I'm a trader, not an investor, but I also have common sense. Think of it this way -- how many commissions will you blow through trying to game the short term moves? And how efficiently will you trade those swings as to maximize profits? When a guaranteed 110 handles sets up, it's more logical to buy and hold until the objective is achieved. I will be playing some short term moves with puts here, but that's it.

The system is rigged and we play the rigged game. Most of the time, day trade is like sitting on a rocking chair. It keeps you occupied but doesn't take you anywhere. They will take SPY somewhere between $130-$132 in the next 3 days. And now it is already close to $129.41. So the question is what is the risk reward parameters we have. It is different for different people.
I agree that the S&P will go up 110+ handles in summer but as Cobra has been saying, the selling is not over yet.
I think a good entry would be around 28th/29th June.

[Wallstreetrader]

Last shorts, will see.

[cougar]

IWM resistance = 79.61

[Cobra]

a little moving average resistance here, but I'll maintain my target.

[Cobra]

forgot to say, volume surge, L1, so pullback here could be, then we'll see.

[Sqwii]

Hi Cobra

Went short SPY 129.4 - we might test 129.5 ... for a top , but either way I am looking for a LOWER LOW than yesterdays low , so next target is below 1270 and with this , euro looks like topped to me... HS topping pattern - right shoulder in = big flush in euro to come.

[99er]

30-Year
Hey Ben...
http://99ercharts.blogspot.com/2011/06/30y_14.html
Bonds, Ben. Bonds.

[Wallstreetrader]

Yes we can

[Copeland]

Cobra,

Are those Brooks patterns any good on longer term charts? 15 or 60 min?

[Sqwii]

Watch SPY 129.4-129.5 Cobra - might be a brilliant shorting opportunity to see a move to below 127 next.

[BBFinance]

The bots and algos are running the " Risk On" trade today to reach their target for Option expiration week. So today their program is in sync with Euro.
Just see the correlation with Euro and S&P.