08/02/2011 Intraday Watering

[agnosia]

spy just broke it's long term trendline dating back to the march 09 lows..

the index has yet to do that...currently at 1269.
i think they will drop it to 1260-1253 (50 dma weekly ) to take out stops and thn a classic bear trap......with the launch of QE3.

just my wildesstesttt wildestest (insert 10000 x wildestest ) guess!!

do you mean the spx? lol, yep we are just guessing here. trade what you see, not what you think

ok let the squeeze start. bill being voted on now.

[Cobra]

good, very good, keep going up please...

[AK84]

spy just broke it's long term trendline dating back to the march 09 lows..

the index has yet to do that...currently at 1269.
i think they will drop it to 1260-1253 (50 dma weekly ) to take out stops and thn a classic bear trap......with the launch of QE3.

just my wildesstesttt wildestest (insert 10000 x wildestest ) guess!!

do you mean the spx? lol, yep we are just guessing here. trade what you see, not what you think

ok let the squeeze start. bill being voted on now.

yup...the SPX. march 09 trendline at 1269. plus 50dma weekly right below it at 1263ish so we have a good spot for bearzz to cover. i always try to trade what i see.....what i think is irrelevant coz im nobody when it comes to the markets. i just wanna make dem $$$$$$$$$$$$$ !!!!

[Cobra]

here is what I see, I won't be too aggressive on the downside here as the push down apparently is losing the momentum... so before I leave, let's give bulls one more cheer: up up up, ole' ole' ole'. yes you can!

[agnosia]

yup...the SPX. march 09 trendline at 1269. plus 50dma weekly right below it at 1263ish so we have a good spot for bearzz to cover. i always try to trade what i see.....what i think is irrelevant coz im nobody when it comes to the markets. i just wanna make dem $$$$$$$$$$$$$ !!!!

ok i see what you mean, my line it's at 1271 on spx ( close enough). i just use SPY because more people trade/look at this.

i like your plan. good luck... and yes we are minuscule compared to the overall market, but we are also a lot more nimble than most.

[agnosia]

here is what I see, I won't be too aggressive on the downside here as the push down apparently is losing the momentum... so before I leave, let's give bulls one more cheer: up up up, ole' ole' ole'. yes you can!

i am a bull because it's the hard trade to be in right now and the market rewards that (usually).

damn bill passes, no relief rally. come on bulls. didn't u hear the cobra cheer?

[KENA]

Again watch 12000 on Dow If breaks then 11900 ?????

[AK84]

here is what I see, I won't be too aggressive on the downside here as the push down apparently is losing the momentum... so before I leave, let's give bulls one more cheer: up up up, ole' ole' ole'. yes you can!

i am a bull because it's the hard trade to be in right now and the market rewards that (usually).

damn bill passes, no relief rally. come on bulls. didn't u hear the cobra cheer?

i agree but we may have a little bit more to go as i said in my previous post. then we hopefully try and make a hammer or long legged doji on the daily to get this party started. we break 1260 and its over.

[99er]

SPX
http://99ercharts.blogspot.com/2011/08/spx_8753.html

Ciao Bella.

[Cobra]

still feels it's not time to be aggressive on the downside. this looks like a breakout then back test the low...

[agnosia]

i agree but we may have a little bit more to go as i said in my previous post. then we hopefully try and make a hammer or long legged doji on the daily to get this party started. we break 1260 and its over.

yep, i just like to build a position near the bottom just in case we don't go as low as anticipated... or might get a gap up at some point.

yep, once we take out intermediate swing high of 1260, market is headed lower. another thing to remember is that it's august, big boys are not around so i think the market will stay in the range until sept. ( or make a little lower low first )

[Cobra]

hmm, doesn't look good. got to go, no update for the next 2 hours, I guess. good luck guys!

[BullBear52x]

Counter trend is never the thing to do but people just love it. I am amazed!

[lumeipro]

cashed out AAPL PUT contract. eying on SPY CALL

[lumeipro]

Bought SPY CALL.

[agnosia]

Counter trend is never the thing to do but people just love it. I am amazed!

nothing wrong with counter trend trading just as long as 1) you know that you are in fact counter trend trading 2) use proper stops.

buying support in down trending markets is a strategy used by a lot of traders.

[BullBear52x]

here we are the captain obvious spot.

[lumeipro]

1265 needs to hold. Next stop, 1255. bought SPY CALL, target 1300 +- 10 points. Just for a counter trend trade. will be out if it dips below 1255.

[99er]

So honey...what's for lunch?
RUT http://99ercharts.blogspot.com/2011/08/rut_02.html

Carpaccio?

[BullBear52x]

Looking at RSI 5 on the daily chart, boys, it's way over sold one would think, but I got to see at least a trade back above 200 ma on 1 min. chart before the Fat lady came out to sing.