07/07/2011 Intraday Watering

[The Hook]

GDX getting pounded. This rally is pure fluff at this time.

[Anaconda]

Someone was asking for this:

Thanks, Avitar! Exactly what I was looking for. I read the "famous" study of moon/market correlations recently (found it online; can't remember the name/year) and was impressed. Even though the study emphasized the fact that the correlations were primarily between new moons and market upswings, your charts imply the reverse is also true - that markets decline into full moons.

[StrikePrice]

Agnosia: "this is the euphoria stage of this rally... the final stage in the bull run."

Brother, I think you're dead right. Feels like 2000 and 2007, all over, to me. Wacky stuff.

Feelings don't make money. Quantitative research does. Like to hear about that more.

[rhight]

Someone was asking for this:

Hey, that's my chart! Thanks for saving it. The cycle may be inverting though, the new moon was a week ago.

[Anaconda]

Agnosia: "this is the euphoria stage of this rally... the final stage in the bull run."

Brother, I think you're dead right. Feels like 2000 and 2007, all over, to me. Wacky stuff.

Feelings don't make money. Quantitative research does. Like to hear about that more.

So post some and add value.

[cheech]

Agnosia: "this is the euphoria stage of this rally... the final stage in the bull run."

Brother, I think you're dead right. Feels like 2000 and 2007, all over, to me. Wacky stuff.

Feelings don't make money. Quantitative research does. Like to hear about that more.

I actually disagree strongly that this is anything like 2007. While I remain bearish (just because I have guarantees of lower prices from the banks on the markets), there is really no comparison. Sentiment is far more bearish right now than it ever was in 2007, so I think there's a decent chance the market powers on even higher after we finish this consolidation phase. The thing I'm not convinced of, like other bulls on this forum, is that the consolidation/correction phase is over and that we're ready for a big rally that lasts. This action here has all the markings of a rally that is bound to collapse right where it started, so it makes more sense to short and collect profits on the difference, then buy back lower on the re-test. I mean, hey, congratulations to the bulls who rode it this high, but we all play different games in the market and have different strategies. There's a good chance some of the same bulls will be buying dips and getting stopped out all the way down until they turn into bears again...right at the next low.

[Bencat]

lots of supports below, so I won't expect the pullback to go far.

it looks like I'll be crazy to say that SPY is going to make NH first, but it is possible now.

[cougar]

Agnosia: "this is the euphoria stage of this rally... the final stage in the bull run."

Brother, I think you're dead right. Feels like 2000 and 2007, all over, to me. Wacky stuff.

Feelings don't make money. Quantitative research does. Like to hear about that more.

Not true! Feelings can make money …if they are not yours, but you deliberately planted them in other people’s minds…
Psychological “inception” of a bogus rationale…Very lucrative…You haven’t seen the movie?
LOL!

[Cobra]

this kind of consolidation usually means more on the upside.

[agnosia]

Agnosia: "this is the euphoria stage of this rally... the final stage in the bull run."

Brother, I think you're dead right. Feels like 2000 and 2007, all over, to me. Wacky stuff.

Yep, exactly ....

[BullBear52x]

this kind of consolidation usually means more on the upside.

With VIX hi and weakness on IWM I think we see the TOD today. yes, I am guessing again

[shumushu]

this kind of consolidation usually means more on the upside.

With VIX hi and weakness on IWM I think we see the TOD today. yes, I am guessing again

I agree, nasdaq advancers - decliners has been on a decline all day. Volume is still strong though.

[StrikePrice]

Agnosia: "this is the euphoria stage of this rally... the final stage in the bull run."

Brother, I think you're dead right. Feels like 2000 and 2007, all over, to me. Wacky stuff.

Feelings don't make money. Quantitative research does. Like to hear about that more.

So post some and add value.

No prob.

For those who claim the VIX is "cheap". Learn about the Dispersion Effect which is the influence of market-neutral firms strategies causing VOLATILITY TO DAMPEN. MSCI Barra, a leader in risk management, highlighted that the global equity markets have been observing declines in the "cross-sectional" volatility or "dispersion". Since the Russian default in 1998 and Internet Bubble, dispersion has been in a downtrend and now continues down after the anomaly of the financial crisis which has only added more money to market-neutral funds. In fact, there was a recent report that there is now more money in market-neutral firms now than back in 2007, making for a continued dampening in volatility.

[Nomorework]

Agnosia: "this is the euphoria stage of this rally... the final stage in the bull run."

Brother, I think you're dead right. Feels like 2000 and 2007, all over, to me. Wacky stuff.

Feelings don't make money. Quantitative research does. Like to hear about that more.

I actually disagree strongly that this is anything like 2007. While I remain bearish (just because I have guarantees of lower prices from the banks on the markets), there is really no comparison. Sentiment is far more bearish right now than it ever was in 2007, so I think there's a decent chance the market powers on even higher after we finish this consolidation phase. The thing I'm not convinced of, like other bulls on this forum, is that the consolidation/correction phase is over and that we're ready for a big rally that lasts. This action here has all the markings of a rally that is bound to collapse right where it started, so it makes more sense to short and collect profits on the difference, then buy back lower on the re-test. I mean, hey, congratulations to the bulls who rode it this high, but we all play different games in the market and have different strategies. There's a good chance some of the same bulls will be buying dips and getting stopped out all the way down until they turn into bears again...right at the next low.

Hi cheech,
I've heard you say several times that you have "guarantees of lower prices from the banks on the markets". I'm just wondering what this means exactly. It's not that I doubt you I just would like a little clarity as a fellow bear. Thx

[soku]

keep on receiving alert from tos. just realized my preset order on cat 110c was sold at 3.2
kena, what did u feed my cat when i was gone?
still on vacation. no trading. good luck guys

[proteus46]

The chart above does not include today's data. It will take a bad jobs number
on Friday to start a correction. We're not at an extreme level using 40-day price.

[KENA]

keep on receiving alert from tos. just realized my preset order on cat 110c was sold at 3.2
kena, what did u feed my cat when i was gone?
still on vacation. no trading. good luck guys

Green Backs and Fancy Feast Salmon

[Cobra]

hmm, not a close I expected...

[shumushu]

hmm, not a close I expected...

Not closing at the HOD? what a surprise in recent days haha.

[MajorEasy]

15 minute
suggesting sell on all 3 indicators
let's see if it's correct...