08/18/2011 Intraday Watering

[KENA]

actually my bots just saying es 1150 83% chance for reversal

yes thanks.. maybe target won't be reached today. depends on the news at 10 i think.

I posted yesterday that the elevator was going dn,basted on some TA I follow that turned and did not look good.Sold out and went short on TSA.I have to win once and awhile.Lets see.

PS should read TZA.

[barbaragull]

Any suggestion about buy dip? All my shorts are out. Now 99% in cash. Eager to do someting.

[Anaconda]

i think part of the warning has to include the fact that the market couldn't hold it's gains even on a weak dollar day yesterday. i think that was indicative for me to consider holding my short spy position, which i did...thankfully.

This was my chief concern, as well as the candle configuration from the day before - it looked weak and undecided on what should have been a strong upward continuation of the bounce we were expecting. We are on wave 5 down...
A.

[soku]

old wisdom, in doubt, long treasury. the updated version is in doubt, long gold. new history high here.
actually all t products got a spike based on philly news.

here is zerohedge discussion of stop of PPT
http://www.zerohedge.com/news/fed-no-lo ... ll-plunges

[Out of Bounds]

Out for today. Taking profits. All cash.

[KENA]

Any suggestion about buy dip? All my shorts are out.

I would not buy any dip yet..Wait for test of 1040 if we break 1100..If fails wait some more.Wait and see.

[cougar]

QQQ target = 49.80 tp 50.00.
Still $1 to go...

[soku]

Any suggestion about buy dip? All my shorts are out.

I would not buy any dip yet..Wait for test of 1040 if we break 1100..If fails wait some more.Wait and see.

if u believe the old saying "all gaps will be filled", then we have 3-4 more since 1 year ago. the lowest is around 1020 if i remember correctly. (if wrong, blame cobra for that )

[uempel]

Orientation:

[agnosia]

Out for today. Taking profits. All cash.

same here.. need to wait till later to see if we build a base near here to go long again for some scalps.. or short some more.

[KENA]

Any suggestion about buy dip? All my shorts are out.

I would not buy any dip yet..Wait for test of 1040 if we break 1100..If fails wait some more.Wait and see.

if u believe the old saying "all gaps will be filled", then we have 3-4 more since 1 year ago. the lowest is around 1020 if i remember correctly. (if wrong, blame cobra for that )

No you are about right.

[soku]

more reading of the market: es 1135-1145 area was the last heavily traded area. if bulls cannot hold here, we could see spike to at least 1110.

[cougar]

QQQ:

[soku]

yesterday i brought up obama's speech on econ better than he started. apparently, data are not buying his words.
per my count philly data is the worst for the past couple months / yrs, and about the same as mar 2009. both 10-yr and gold at history high now. the only exception is equity. from 666 to 1138, this is the spread for tarp + qe1+qe2

[Cobra]

nothing to say, NORMALLY the rebound shall fail eventually, this cannot be just one legged down. we'll see.

[Out of Bounds]

Out for today. Taking profits. All cash.

same here.. need to wait till later to see if we build a base near here to go long again for some scalps.. or short some more.

I thought about setting up some short and long trades to grab some scalps, but this is too fast. These turns are violent and I don't want to change a winning day like this into a day where I sit here getting whipsawed. We've all had those days and they suck.


I'm going to Lowe's and getting a few projects done.

[uempel]

Looking for a bottom...

[soku]

believe it or not, i see long bots kick in. it could form a 123 if they can effectively take 1145, with a target of 1154.5

[Anca]

Somebody asked last week about TO real estate; here is an update:
http://canadabubble.com/bubble-watch/21 ... aster.html

[AK84]

cobra

lower low after 10.30 . more selling to come right