03/07/2011 Intraday Watering

BullBear52x · Post by **BullBear52x** » Mon Mar 07, 2011 1:52 pm

Cobra wrote:The pattern is not good for bulls, likely to breakdown.

Ther she goes......

Post by **Cobra** » Mon Mar 07, 2011 1:54 pm

Again, don't buy dip. The rule is simply, at least wait until the trendline broken and the previous low being retested.

BullBear52x · Post by **BullBear52x** » Mon Mar 07, 2011 1:55 pm

uempel wrote:A few posts ago somebody wrote about going long to earn himself his lunch. I'm not sure if that is the right attitude. Suggest he go for a Porsche next time and look at the charts more carefully. That Porsche might soon be parked in front of his Garage if he notices that a) presumably the market dynamics have changed and NASDAQ is leading the way down and b) this SPX chart ain't bullish...

http://stockcharts.com/h-sc/ui?s=$SPX&p ... =208600353

forget Porsche, I ride FAZ

99er · Post by **99er** » Mon Mar 07, 2011 1:56 pm

SPX
Diamond Top target of 1244.
http://99ercharts.blogspot.com/2011/03/spx_6375.html

BullBear52x · Post by **BullBear52x** » Mon Mar 07, 2011 1:59 pm

Talk about FAZ, now challenging decending trend line, very very Bullish if made through here.

Post by **Cobra** » Mon Mar 07, 2011 1:59 pm

here's how I read this market: 2 up days vs 2 down days, if today cannot have a lower low then bull still is stronger. So let's watch this critical point, the 03/02 lows.

Roadrunner · Post by **Roadrunner** » Mon Mar 07, 2011 2:02 pm

Bull bear52x - when you write"Good long term holding pick is UNG" - are you beleiving that we are at the lows now? The NG futures are still in contango

BullBear52x · Post by **BullBear52x** » Mon Mar 07, 2011 2:05 pm

Roadrunner wrote:Bull bear52x - when you write"Good long term holding pick is UNG" - are you beleiving that we are at the lows now? The NG futures are still in contango

Yes, I think so. but the market doesn't care what I think in the past though

EvilTrader · Post by **EvilTrader** » Mon Mar 07, 2011 2:09 pm

just saw an interesting statistic in bloomberg TV.

Oil futures speculation at all time highs.

Post by **Cobra** » Mon Mar 07, 2011 2:15 pm

QQQQ and IWM at the previous low so could be a little rebound here. The rebound usually should fail.

Post by **Cobra** » Mon Mar 07, 2011 2:19 pm

Retailers buy the way, is buying this dip.

Post by **Cobra** » Mon Mar 07, 2011 2:21 pm

The rebound target usually is the previous consolidation area.

EkOnkaar · Post by **EkOnkaar** » Mon Mar 07, 2011 2:23 pm

Looks like if Oil corrects here, we could get a significant bounce. If not, then your congestion area will act as resistance..
Ek

uempel · Post by **uempel** » Mon Mar 07, 2011 2:23 pm

I don't believe 1304 is the bottom...

99er · Post by **99er** » Mon Mar 07, 2011 2:26 pm

SPX
Four-hour chart features a possible Wolfe Wave. Target? 1200.
http://99ercharts.blogspot.com/2011/03/spx_2669.html

greenback · Post by **greenback** » Mon Mar 07, 2011 2:39 pm

Federal Reserve's Lockhart: Oil shock could lead to QE3

http://finance.yahoo.com/news/Federal-R ... et=&ccode=

uempel · Post by **uempel** » Mon Mar 07, 2011 2:41 pm

As I'm biased towards the downside I'm posting a bullish chart here: it shows that both price and have strong support today at 1304:

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=3

pezhead9000 · Post by **pezhead9000** » Mon Mar 07, 2011 2:43 pm

Current buying on weakness top 2 - Anyone know what's a good/stand-out ratio?

total up/down block up/down
iShrRu2000 (IWM) $80.58 1.32 4.54
SPDR S&P 500 (SPY) 130.89 1.05 1.56

http://online.wsj.com/mdc/public/page/2 ... yflow.html

EkOnkaar · Post by **EkOnkaar** » Mon Mar 07, 2011 2:53 pm

Gold should then cross $1600 ?

greenback wrote:Federal Reserve's Lockhart: Oil shock could lead to QE3

http://finance.yahoo.com/news/Federal-R ... et=&ccode=

Post by **Cobra** » Mon Mar 07, 2011 2:54 pm

Could be a little tricky L2 short, let's see. I have no idea.

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03/07/2011 Intraday Watering

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