06/27/2011 Intraday Watering

[bbc]

i see negative divergence and early sign of overbot. 1275-1280 was low volume area which could be res or some kind.
what bothers me is i see abnormal strength in eur/usd. kinda strange volume pattern. i will buy on dip for today.

apparently middle east countries are buying euro in force today. nobody knows why.. maybe because is creates a weaker dollar and higher oil?

I really don't think so, they have much much simpler way to profit from their futures.

buying euro up is way too much effort to do and it's only has temporary effect, these oil exporter won't unwind their portfolio in a short term, they never do,

they have to rollover it to hedge against their delivery in the future.

[uempel]

Close look at what's going on:

[janez]

Selling the FXI bought last Thursday and TNA bought last Friday.
I like this blog and this community!

[bbc]

Selling the FXI bought last Thursday and TNA bought last Friday.
I like this blog and this community!

me 2. I just sold FXI call, but only to break even. FXI is so weakly correlated with SHCOMP recently.

[BBFinance]

I think Cobra's weekend analysis is spot on. If and when the upside target is reached,The next phase of the commentary will start.

[Cobra]

triangle, so should be one more push up. generally, I don't expect such a strong push up simply fail right away.

[Cobra]

ok, i was wrong about breakout direction but still it could be a bull flag. let's wait and see.

[pablorynx]

FXI is much more correlated with the Hang Seng Index, as these are H-shares trading on the Hong Kong stock exchange.

[bbc]

FXI is much more correlated with the Hang Seng Index, as these are H-shares trading on the Hong Kong stock exchange.

thanks, just checked, more or less same as SHCOMP, correlations drops a lot recently

[agnosia]

hope cobra is right, should get one more push... saw lots of sellers at 1274 on the DOM... my stop for last half is 1269.5

[KENA]

I guess that takes care of trying to buy.Been waiting for Uempel's chart to break 1280 for more up.Wait and see.

[barbaragull]

Come on, bulls, don't give up here. I haven't bought back the shares of VIXY I sold last Friday.

[BBFinance]

Just a side note:
In the market place, I think the concept of Bull vs Bear exist only in the mind of small investors and speculators.
The big guns are neither bullish nor bearish. The just scheme the cream on the way up and way down. And they manipulate to get the best position.

[rhight]

let's see how this works.

[barbaragull]

Thumbs up! (why there is no smily for it?)

Just a side note:
In the market place, I think the concept of Bull vs Bear exist only in the mind of small investors and speculators.
The big guns are neither bullish nor bearish. The just scheme the cream on the way up and way down. And they manipulate to get the best position.

[KENA]

Now what???? I'm bearish under 1277/1275.I guess wait and see.

[HK88]

Just a side note:
In the market place, I think the concept of Bull vs Bear exist only in the mind of small investors and speculators.
The big guns are neither bullish nor bearish. The just scheme the cream on the way up and way down. And they manipulate to get the best position.

I just could not agree more. Who took the market down, will take it back up (if it could be justified). Or, they shake people out and take it more down. It is like the independent or swing voters in an election, same people...

[bbc]

Just a side note:
In the market place, I think the concept of Bull vs Bear exist only in the mind of small investors and speculators.
The big guns are neither bullish nor bearish. The just scheme the cream on the way up and way down. And they manipulate to get the best position.

I guess you were wrong.

majority capital is still in the form of mutual funds, they have to be bullish bias. macro hedge funds have to have bias.

funds doing statarb and emm are usually market neutral most of the time.

[soku]

i see a bullish flag with target 1272-1274.5

yep i have the same target.... squeeze coming soon to those that shorted daily pivot..

i see negative divergence and early sign of overbot. 1275-1280 was low volume area which could be res or some kind.
what bothers me is i see abnormal strength in eur/usd. kinda strange volume pattern. i will buy on dip for today.

i decide to play the res. i have half of my normal trading size in short. i will add short if 1269 broke.

[agnosia]

Now what???? I'm bearish under 1277/1275.I guess wait and see.

lots of resistance above due to the zig-zag of the recent weeks. my next resistance levels are -

R3-> 1279.75-1280.50

there is also a gap to fill there @ 1280.5