07/27/2011 Intraday Watering

Post by **Cobra** » Wed Jul 27, 2011 9:06 am

Gap down below yesterday's low so there're chances the gap won't be filled. The Global ES looks like a Double Top breakdown, targeting as low as 1313, while regular hour ES looks like a Descending Triangle, either way, both don't look good, well, for now.

reddog · Post by **reddog** » Wed Jul 27, 2011 9:10 am

cougar · Post by **cougar** » Wed Jul 27, 2011 9:12 am

NDX internals (130min): ready for a SELL signal

shumushu · Post by **shumushu** » Wed Jul 27, 2011 9:12 am

Good morning sir. This morning's premarket has strong downward momentum.

99er · Post by **99er** » Wed Jul 27, 2011 9:14 am

Good Morning.

So honey...still thinking about Europe?
EURUSD http://99ercharts.blogspot.com/2011/07/eurusd.html
You betcha! $1.35 still.

99er · Post by **99er** » Wed Jul 27, 2011 9:15 am

ES
1308.
http://99ercharts.blogspot.com/2011/07/es_27.html

cougar · Post by **cougar** » Wed Jul 27, 2011 9:17 am

SPX at opening: support in the 1324 area

99er · Post by **99er** » Wed Jul 27, 2011 9:27 am

Copper
In case BB52X asks...
http://99ercharts.blogspot.com/2011/07/copper_27.html

cougar · Post by **cougar** » Wed Jul 27, 2011 9:27 am

After ER, LVS target is 52.88...Hmm..."88" is a good # for gambling, which just happened to show up...
But there will be a lot of sellers into the strength...IMHO.

Post by **Cobra** » Wed Jul 27, 2011 9:31 am

the open.

Alpha_M · Post by **Alpha_M** » Wed Jul 27, 2011 9:39 am

Cobra,

You mentioned in your last night's report "As for the pullback target, if only SPX breakdown below its 07/20 low"

Looks that is coming soon?????....I went long yesterday.....and looking at the unrealized losses makes me want to puke!!!!!

Should I short at this point ?is this daaa good entry point?...your thoughts would be appreciated. Thanks.

99er · Post by **99er** » Wed Jul 27, 2011 9:41 am

cougar: "."88" is a good # for gambling"

Before having to add a "2" the telephone number to Citibank Hong Kong's trading floor was 888-8888.

But look at C now.

soku · Post by **soku** » Wed Jul 27, 2011 9:45 am

es is below 1320 now and testing my lis @1314. not sure what will happen. i will sit on hand for the next hour

Post by **Cobra** » Wed Jul 27, 2011 9:50 am

Alpha_M wrote:Cobra,

You mentioned in your last night's report "As for the pullback target, if only SPX breakdown below its 07/20 low"

Looks that is coming soon?????....I went long yesterday.....and looking at the unrealized losses makes me want to puke!!!!!

Should I short at this point ?is this daaa good entry point?...your thoughts would be appreciated. Thanks.

I'll day trade and only on trend day. Right now, stay on the sideline may be the best idea.

cougar · Post by **cougar** » Wed Jul 27, 2011 9:55 am

Wise advise, Cobra! I think I'll take it...

Rocket_Trades · Post by **Rocket_Trades** » Wed Jul 27, 2011 10:00 am

Good morning everyone,

Saw these messages from an options trader in the pit this am please take note and wanted to pass them along. I do not trade options, yet but I notice what is happening in the market.

"$SPY: largest open interest change across option exchanges. Traders added 88K August 128 puts and 48K Fri 7/29 131 puts! Watch out below".

$VIX: traders added 44K Aug 27.5 calls to open interest yesterday. Total now is 146K. 7/10 top OI positions in the VIX are calls".

I have a few trapped longs and I am basically on the sidelines until the dust settles. I May pick my spots carefully.

Thanks and have a great day.

Post by **Cobra** » Wed Jul 27, 2011 10:04 am

some support here on Global ES.

Post by **Cobra** » Wed Jul 27, 2011 10:06 am

tinted area as target, 75%+ chances.

cougar · Post by **cougar** » Wed Jul 27, 2011 10:08 am

Yes 99er…Apropos of gambling: in Macao, the “Luxury Pawnshop” has a great collection of old jades and Ming antiques, for reasonable prices…Guess why?!

BullBear52x · Post by **BullBear52x** » Wed Jul 27, 2011 10:08 am

GM,
I saw lots of green shoots in short etf yesterday but don't think it will flower today

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07/27/2011 Intraday Watering

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