06/30/2011 Intraday Watering

uempel · Post by **uempel** » Thu Jun 30, 2011 1:46 pm

A few days ago the world was about to collapse

and today everything is fine - this volatility is killing me.

I closed my SPX longs yesterday, much too early, and now I'm contemplating what to do. Kind of difficult, as this rally might be the eye of the storm and SPX could drop down on some freakish information out of Greece or elsewhere. I guess I'm just going to stay put on the SPX and wait and see.

In the currency markets it looks like the Swissie has bottomed versus USD and EUR, but I have not yet shorted CHF.

When I'm tired I tend to make mistakes... Bye guys, I'm going for a meal and a drink.

Tabby · Post by **Tabby** » Thu Jun 30, 2011 1:47 pm

cougar wrote:
Tabby wrote:
99er wrote:uempel:

Thanks for the heads up; always find your BP charts helpful.

But my charts say "sell."

My coffee maker, however, has yet to say a word.
Après cela…le déluge!

God rest this noble man's soul. Thanks, No evil chasing. Well, I am still hopeful for TZA.

soku · Post by **soku** » Thu Jun 30, 2011 1:56 pm

KENA wrote:
HK88 wrote:I would very much like to see the NYMO today, I am sure it will be overbought if we finish like this today, leaving almost no room for a beginning of month rally..
The NYMO was at about extreme last night .Based on that and a couple of other factors I expect a roll over.We have a lot of hype and up momentem so the mkt may go dn slowley and sideways for a day or two.Wait and see.

kena, hope u see my notes from yesterday and didn't short cat. i think it may go to 110 area.
spx 1320 is good spot for bulls. need new fuel or trigger to initiate another run.

Post by **Cobra** » Thu Jun 30, 2011 1:59 pm

still looks like a bull flag.

KENA · Post by **KENA** » Thu Jun 30, 2011 2:00 pm

soku wrote:
KENA wrote:
HK88 wrote:I would very much like to see the NYMO today, I am sure it will be overbought if we finish like this today, leaving almost no room for a beginning of month rally..
The NYMO was at about extreme last night .Based on that and a couple of other factors I expect a roll over.We have a lot of hype and up momentem so the mkt may go dn slowley and sideways for a day or two.Wait and see.
kena, hope u see my notes from yesterday and didn't short cat. i think it may go to 110 area.
spx 1320 is good spot for bulls. need new fuel or trigger to initiate another run.

.Yes I did. My entry point was a little early.

alphahorn · Post by **alphahorn** » Thu Jun 30, 2011 2:00 pm

people are talking about shorting oil, I trade Energy via ERX and ERY, went long ERX a few days ago, looks early still

99er · Post by **99er** » Thu Jun 30, 2011 2:03 pm

From Jesse's Cafe Americain

Trading is just a business, and so one should treat it as such. It is neither good nor bad, but a craft of sorts if you will. One has to be on the right side of the market, and it has nothing to do with courage, and everything to do with knowledge, luck, and skill.

Conducting ourselves honorably and standing for the truth, upholding our oaths if you will, is a calling however, a high aspiration which we all receive, but which not all take up. And as with all worthy things it is never easy or accidental, and there are always failures as we learn, so we should not be too discouraged when we stumble and fall, or when we are fearful or confused. This is the human condition of us all.

http://jessescrossroadscafe.blogspot.co ... uleur.html

uempel · Post by **uempel** » Thu Jun 30, 2011 2:05 pm

Something which might cheer up 99 and other bears (a little bit). On a very long term weekly log chart (it goes back 20 years) I found SPX hanging around at resistance... But now I'm gone

shumushu · Post by **shumushu** » Thu Jun 30, 2011 2:07 pm

Critical time now

StrikePrice · Post by **StrikePrice** » Thu Jun 30, 2011 2:08 pm

It's all about the light blue line on 30min for me. Lots of support on my chart...but if it's broken a big fall.

Can the Bulls make it to a profitable quarter? I guess with dividend they don't have to hit above 132.50?

KENA · Post by **KENA** » Thu Jun 30, 2011 2:11 pm

shumushu wrote:Critical time now

Thanks..Things may get better.

rhight · Post by **rhight** » Thu Jun 30, 2011 2:13 pm

Psssst . . . no selling today, pass the word.

MajorEasy · Post by **MajorEasy** » Thu Jun 30, 2011 2:15 pm

tehehe,
i should follow my own advice.
i was trapped in a short from 10:00 to 12:30, it was a counter-trend trade....
held on 'til it became a 2 pt. winner...

note to self: counter trend trading is stupid stupid stupid....
newbees, counter-trend involves trying to short tops and buy bottoms..

cheech · Post by **cheech** » Thu Jun 30, 2011 2:23 pm

alphahorn wrote:people are talking about shorting oil, I trade Energy via ERX and ERY, went long ERX a few days ago, looks early still

Oil is scheduled to make a low towards the middle of July. There will be a re-test of the lows even if it pushes higher.

HK88 · Post by **HK88** » Thu Jun 30, 2011 2:34 pm

cheech wrote:
alphahorn wrote:people are talking about shorting oil, I trade Energy via ERX and ERY, went long ERX a few days ago, looks early still
Oil is scheduled to make a low towards the middle of July. There will be a re-test of the lows even if it pushes higher.

Anybody has an idea why gold is falling when $ is down as well???

alphahorn · Post by **alphahorn** » Thu Jun 30, 2011 2:36 pm

cheech wrote:
alphahorn wrote:people are talking about shorting oil, I trade Energy via ERX and ERY, went long ERX a few days ago, looks early still
Oil is scheduled to make a low towards the middle of July. There will be a re-test of the lows even if it pushes higher.

possibly, I only know and care about what my indicators say, and right now they say BUY and they've been very profitable

, when they say sell, I'll listen and follow then too!

rhight · Post by **rhight** » Thu Jun 30, 2011 2:36 pm

5 min traders, in case you haven't noticed SPX sitting on 50 DMA at 1317. Waiting for shorts to take a position before running a few more stops. Just being cynical as I'm quite busy watching the paint dry. Price still in rising channel.

alphahorn · Post by **alphahorn** » Thu Jun 30, 2011 2:39 pm

HK88 wrote:
cheech wrote:
alphahorn wrote:people are talking about shorting oil, I trade Energy via ERX and ERY, went long ERX a few days ago, looks early still
Oil is scheduled to make a low towards the middle of July. There will be a re-test of the lows even if it pushes higher.
Anybody has an idea why gold is falling when $ is down as well???

Gold is in a wave 4 pullback, it'll make another push up in due time

here's one that'll make cheech happy, we've been short gold via my system

cougar · Post by **cougar** » Thu Jun 30, 2011 2:43 pm

Rhight: good point! Doing the same.
Also...nice analytical charts, in general!
R U a professional?

shumushu · Post by **shumushu** » Thu Jun 30, 2011 2:49 pm

Looks like bulls arn't able to take out the 50ma 5minutes.

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06/30/2011 Intraday Watering

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