06/29/2011 Intraday Watering

[Cobra]

still no bear signal bar, the only thing good is volume surge, let's wait for the next bar.

[rhight]

ok, the feel is bad for bears here, now it's essential to pullback in the next couple of bars to start the 2nd leg down, otherwise, pretty much bears are over.

I have a Positive Price Reversal on 15 min SPX RSI 14 that calculates out to 1314. These don't always work out, but often do. Next swing up in 15 min stochastic will tell the story.

I should add that if that was the pull-back in the 60 min time frame I was looking for, I'll eat my shorts! (if you're familiar with that expression).

[Cobra]

CObra, last night you mentioned short at today close as a good setup, is it still valid?

yes. a little bit better chances.

[BullBear52x]

Wow, look at FASSSSSSSSSSSSSSSSSS.

3rd time is a charm for sure here.

[Tabby]

Wow, look at FASSSSSSSSSSSSSSSSSS.

due to the debit card crap

V? scheduled event?

none that I know. GS,BAC,JPM, are all up. BAC placed $12B settlement. Fins have been going down in past 4 months. I think if Fins go up the next part of the market will follow.
I only trade Direxion ETFS.
FAS,TNA,ERX are my favorites, fCX too. What goes up, it has to come down and vice versa.

[99er]

PRI:

RUT
In case you were wondering.
http://99ercharts.blogspot.com/2011/06/rut_29.html

[Anaconda]

No doji. Not even spinning top, unless we come down into the close.

[soku]

Wow, look at FASSSSSSSSSSSSSSSSSS.

due to the debit card crap

You are right Soku but stock market does not follow economic. Do you honestly think that the Greece crisis has been resolved over a night?
Just make your money and keep your head above the water.

tabby, it depends. greece is crap. wall street just need some trigger / excuse to run the window dressing which we all know about. even w/o greece, they will find something else.
the debit card news is different. hike the fee from 12 to 21 is a lot for card issuers. they simply can charge more and make more by doing nothing. as i just pointed out both v and ma got a 10% spike. all major banks issue cards. this is the reason fas is shooting up as well.
does economy lead stock market is a bigger topic. i believe major events still lead.

[cougar]

Strange things are happening today!!!
As I was running my espresso machine, it started to talk to me: “…the complexities of this economic situation …pfffsss…collecting and compiling data on the Debit Card s activities….pfffsss…”

[Tabby]

Wow, look at FASSSSSSSSSSSSSSSSSS.

3rd time is a charm for sure here.

[Cobra]

still no signal bar, I give up looking for bears, even we do get signal bar here the current rebound is way too strong, so a L1, if any, is not a short anymore.

[soku]

i smell blood. i go long at this moment.

hohoho, i got lucky. it seems to me a reversal now. good chance we will take today's high tonight.
the only thing bothers me is ben is on air again. the street hates him recently. every time he talked, there was a sell off.

[KENA]

Time to short CAT. It has had a good run up and is now stopped at the 50 day.

did u recommend cat to me last time? i bot couple days ago. i am thinking of reduce my exposure, but i think it is still too early to sell short at this moment.

Yes but that was a while back.It may be a bit to early but right now Cat is stalled at 50 day.If it moves dn it will move fast.(I Think)

[rhight]

Strange things are happening today!!!
As I was running my espresso machine, it started to talk to me: “…the complexities of this economic situation …pfffsss…collecting and compiling data on the Debit Card s activities….pfffsss…”

That sounds like my kind of espresso!

[uempel]

For shumushu:

[PRI]

PRI:

RUT
In case you were wondering.
http://99ercharts.blogspot.com/2011/06/rut_29.html

Thanks Pal!

[rhight]

Looks like 3 white soldiers on the Daily SPX.

[99er]

cougar: "As I was running my espresso machine, it started to talk to me"

And so we have it. The secret to great charts.

[Mr. T]

Cobra - any better odds of a down tomorrow when the VIX is down almost 10%???

[cougar]

LOL 99er!
Also... nice bat!