08/26/2011 Intraday Watering

[StrikePrice]

Clearly is doesn't matter what Ben says...the market buys...until they don't. Love it or hate, it always keeps you on your toes.

[StrikePrice]

Looks like a repeat of the previous bottom where we had a panic sell off, then a panic short-covering. Gotta luv these markets!

Agreed. Futures don't look nearly as strong as cash.

[cougar]

Out of SHORTS, close to the LOD! Thank you Bamby…now take them up!
WOW!!!

[99er]

Do bankers surf?
SPX http://99ercharts.blogspot.com/2011/08/spx_9933.html

Hell...they can do anything!

[lumeipro]

still have lower high and lower low from yesterday. will be out of shorts if yesterday's high is taken out.

[Anaconda]

Out of SHORTS, close to the LOD! Thank you Bamby…now take them up!
WOW!!!

Still think we have lot more downside. We just retraced to 78% from today's low. Guess that's what makes a market!
GL.
A

[KENA]

Back from breakfast..What a pop up..Must have been a big Bull fight.

[Cobra]

now you guys all believe me? Hard to go down and rebound, the rebound was larger than I thought, I admit, but I could well pretend that it's exactly what I thought, , anyway, now it's everybody's guess for what the next is. My guess, purely from the chart, the morning low may get revisited, otherwise the pattern doesn't look stable (standing on single leg).

[Anaconda]

Out of SHORTS, close to the LOD! Thank you Bamby…now take them up!
WOW!!!

Still think we have lot more downside. We just retraced to 78% from today's low. Guess that's what makes a market!
GL.
A

Ok. So bull flag forming short term. More upside likely temporarily.

[BullBear52x]

same chart posted yesterday, a retest? and roll back. it's gonna be a messy day today.

[flrtrader]

My clcles point to the top being Tuesday, Doubble top at 1190?

Regaurdless will not go short till Monday at the close.

FWIW

[nasa1100]

eco is fine, we do not need QE3!

[uempel]

Today ain't my day. I had the wrong targets and was mentally not quick enough to adjust. I'm off for the weekend. Bye guys.

[shumushu]

cobra, what is ur take on gold. I have a position and I don't understand the tap at all it this morning.

[99er]

uempel

Have a good one.

[Cobra]

it's hard to push up from here now, got to be some consolidation or pullback here, then we'll see.

[StrikePrice]

Bernanke sets it up. Obama knocks it down. Some things never change...well...we'll see....

[Cobra]

the bigger picture, it's a Triangle in the forming which is destined to be down but for now bulls seem OK.

[fuddleduddle]

cobra, what is ur take on gold. I have a position and I don't understand the tap at all it this morning.

Gold is like an ECG today. It's like it doesn't know where it wants to go.

Given the sharp down the last couple of days seems like there will be more selling later. Rumour of more margin hikes are ahead. Might fill the recent gap.

[Anaconda]

100% retrace from today's low. Now we'll see what's next on the downside.