08/15/2011 Intraday Watering

[Tabby]

FYI,
This was on regular local bussiness TV news in my hometown. I heard today that major decision will be set by IMF in coming week. Possible replace of USD currency as the world's reserve currency. Current SDR is 41.9% based on USD, 37.4% based on Euro and 9.4% Japanese Yen and 11.3% Pound sterling. Markel and Sarkozy want to kick Greece out of EURO zone. Has anyone heard anything like this? is this a rumor?
Why regular is TV announcing possible SDR changes? I don't recall they ever talked before. I heard G7 and G8 summit that they wanted to get rid of US currency as the world reserve currency. I even heard an economist spoke about using Amero as currency in North America in 1991 which was rejected in past.

[BullBear52x]

If I loss money going long here, I know uncle Ben is doing his best to help me out

[99er]

Updates

Gold http://99ercharts.blogspot.com/2011/08/gold_15.html
Silver http://99ercharts.blogspot.com/2011/08/silver_15.html

[99er]

Updates

Copper http://99ercharts.blogspot.com/2011/08/copper_15.html
Crude http://99ercharts.blogspot.com/2011/08/crude_15.html

[99er]

Hey honey...
30Y http://99ercharts.blogspot.com/2011/08/30y_15.html
Does Ben surf?

[KENA]

Sold my Spy short this morn. Kept my protective call and now long Spy.Soooo lets See. Not doing much else.Things do look brighter.

[soku]

a quick chart. check the volume and you will know why i still think it is just w4 in a down trend

[Cobra]

cobra...If the diamond pattern fails....do you have a sense of the target to the downside?

will have to find another pattern before knowing the next target.

[BullBear52x]

a quick chart. check the volume and you will know why i still think it is just w4 in a down trend

I agreed, since I trade what is I will have to sail along.

Edit: w4 should end Friday and start w5 but now things take a different approach, so will have to take it on a face value.

[cowboy]

cobra...If the diamond pattern fails....do you have a sense of the target to the downside?

will have to find another pattern before knowing the next target.

Hi Cobra & everyone,
It's my first day here, just like to say hello and thanks for sharing your knowledge.

Cheers!!

[Cobra]

cobra...If the diamond pattern fails....do you have a sense of the target to the downside?

will have to find another pattern before knowing the next target.

Hi Cobra & everyone,
It's my first day here, just like to say hello and thanks for sharing your knowledge.

Cheers!!

welcome aboard!

[Cobra]

nothing to say, 2 bar reversal, but bears need a follow through, generally, the pullback should be at least 2 legged, so the current rebound should fail somewhere, could be now, or later, we'll have to wait and see.

[KENA]

a quick chart. check the volume and you will know why i still think it is just w4 in a down trend

I agreed, since I trade what is I will have to sail along.

I'm with both of you.But I do think we are going up to the 1220/25 (maybe higher) befor we test lower areas.I'm starting to look for some good shorts.Have a couple but have to wait and see.They need to go a little higher.

[StrikePrice]

StrikePrice: "Wipeout."

Look now, dude.

SPX http://99ercharts.blogspot.com/2011/08/spx_5878.html

Yup. On the 5-minute had RSI(5) 90+ and neg divergence, now looks to be doing a H&S. I'm out of my Long from Friday and waiting for a clearer picture.

[soku]

today is the birthday of gold. i mean the new life of gold after bretton woods system.
what's the return of gold as an investment? 35 to 1800 in 40 years. only 10.4%.

so boring. i am going to read that book that right guy recommended. also a while ago, somebody posted credit suisse fear barometer. any updates on it? what's the id? occasional somebody. (sorry. me bad at names)

[v1stock.com]

gold is looking to go up, in the last 2 weeks that has spy down.

[StrikePrice]

Hanging out at the 50% retrace of the move down from 1199 and 38.2% retrace of the move from 1347. I wouldn't expect much action until later in afternoon.

[Al_Dente]

Second (third) attempt to breakout at VWAP resistance 119.63. With advancing issues strong at 2601 ish and vix weak, gotta hold for bull breakout. I wonder if my memory is correct: cobra says third try at breakoout, odds favor higher.

http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

PS: how to embed a chart inside this box instead of a link?

[99er]

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

[StrikePrice]

Second (third) attempt to breakout at VWAP resistance 119.63. With advancing issues strong at 2601 ish and vix weak, gotta hold for bull breakout. I wonder if my memory is correct: cobra says third try at breakoout, odds favor higher.

http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

PS: how to embed a chart inside this box instead of a link?

Create image and upload it with attachment link.