08/03/2011 Intraday Watering

[soku]

every time there is a drop in the market, this place is very quiet. only cobra, the traffic guy and i, a perma bear are talking?
my bots says detected sell programs. re-testing 1246 line now. it is summer time. ppt on vacation, maybe?

sell off from 10:18 as i reported is generated by some fund liquidation. based on the decent order size and market impact, i think it is is bigger than average. as i mentioned yesterday, since we lost 200ma, we shd expect to see more this kind of liquidation.

i officially announce 1246 lost. now both spx and ndx are negative for this year.
i have to draw a new line in sand at es 1230, which is the last stop before we go to 1200.
long live the bears

[Cobra]

another bump-and-run pattern?

[Bond]

my chinese source says italy high officers are in china and singapore trying to sell italian gov bonds. lol
god bless china, the white knight. hope they can hold everything

I am actually from Singapore.
If Singapore govt or SWF buys those bonds and the local population got wind of it, they are not going to be very pleased ....

bloomberg just said singapore rejected the deal. this causes italian 10-yr spread widen.
wow i guess your sov fund is working hard for you people

The locals here actually sort of criticized the Singapore SWF during the 2008 period for a rather big stake in CITI at a high price during the bear market. They are now more careful I guess.

[trader_jay]

IMHO, when QE3 comes, SPX probably reaches 1000.

Odds favor a rebounce. When bottom fishing, i just need to protect the pofolio in case black swan events do happen.

[davros]

GS pretty strong, also I like SPRD for long, up 3% today so if this market ever rallies you should get your money's worth

[EvilTrader]

This is the bottom, or.....flash crash may strike again ( i doubt)

[99er]

Lunch?
30-Year http://99ercharts.blogspot.com/2011/08/30y_03.html
Is it too late for breakout?

[Cobra]

rebound as I said. now let's see how it revisits today's low. normally, it should, then we'll get some clues whether today's low is in.

[99er]

Oh.Honey...
SPX http://99ercharts.blogspot.com/2011/08/spx_139.html
Did you bump your head?

Here...have some steak tartare.

[tonghu]

i would be very surprised by bears' strength if it can not hold

rebound as I said. now let's see how it revisits today's low. normally, it should, then we'll get some clues whether today's low is in.

[Cobra]

the big picture, we have H&S top breakdown, but I bet people would say it's too obvious for everyone therefore destined to fail. Well, it's failed many times since QE, I don't believe it'd fail this time again, otherwise, we'd pretty much forget about there's a pattern called H&S Top as it always fail, so it's not a pattern anymore. we'll see.

[BullBear52x]

rebound as I said. now let's see how it revisits today's low. normally, it should, then we'll get some clues whether today's low is in.

$TICK registered -1361 today, don't want to see new LOD, I am bearish but this is over due for a rebound of some sort. not that I will buy.

[rpccharts]

Any ideas on Silver next move? Slightly overextended....

[Cobra]

triple resistances here: trend line, EMA20 and the previous high. Let's see.

[rpccharts]

Any ideas on Silver next move? Slightly overextended....

[soku]

every time there is a drop in the market, this place is very quiet. only cobra, the traffic guy and i, a perma bear are talking?
my bots says detected sell programs. re-testing 1246 line now. it is summer time. ppt on vacation, maybe?

sell off from 10:18 as i reported is generated by some fund liquidation. based on the decent order size and market impact, i think it is is bigger than average. as i mentioned yesterday, since we lost 200ma, we shd expect to see more this kind of liquidation.

i officially announce 1246 lost. now both spx and ndx are negative for this year.
i have to draw a new line in sand at es 1230, which is the last stop before we go to 1200.
long live the bears

well, i officially announce again, 1230 holds, and 1246 is back. this market is fun.
cobra, i see bunch of 1-2-3 on smaller time frame.

[shumushu]

Looks like a sharp V shape reversal today. Will your bottom finishing for the Cobra Impulse system activate?

By the way sir cobra, I am reblogging to your blog along with a few others on the right block on my site. I think your site is quality and give you some traffic. Let me know if you have any problems.

[rpccharts]

The weekly volume on the drop from $50 was 1 BILLION shares on SILVER ETF (SLV)

[Cobra]

so far the rebound is strong. need see more bars before making my next call.

[Cobra]

Looks like a sharp V shape reversal today. Will your bottom finishing for the Cobra Impulse system activate?

no, CIS won't bottom fish here.