09/07/2011 Intraday Watering

[uempel]

1 min chart look bullish...

[99er]

Good Morning.

So honey...it's gonna be over 100 today.
ES http://99ercharts.blogspot.com/2011/09/es_2859.html

Shall we hit the beach?

[StrikePrice]

Stopped out, I might try again

I don't know. I think it's a Triangle correction with more up to come....better to try and short at 1196.

[Mongoose]

Don't understand which point you don't agree with?

I think Mongoose was joking.....saying he wanted to trade like a bank......take on risk, then get bailed out by everyone else. Pretty funny.

Yes, thanks Michelle.

Ooops, sorry, I didn't get it just now...In that case I totally agree with your "totally don't agree"
The banks do all kinds of "business" with high profit and high risk (profit belongs to the bank and risk, well, sell to the people again)...
"bail out" = robbing from people through Fed, gov, etc... And everytime, they make them looks like hero, and "trying" to "save" the world...

Not to worry Cowboy. My wife doesnt even get my jokes.
Here is something you may wish to watch at your leisure regarding banks and the FED.
http://www.youtube.com/watch?v=H3HmV43Zs-M

[99er]

Why the beach?
SPX http://99ercharts.blogspot.com/2011/09/spx_07.html

Surf's up.

[agnosia]

ok i think the cocaine fueled rally in /cl is taking a breather...as long as weekly /es 1180 area holds i am staying long. i believe this rally has many many many legs

[silicon_beaver]

As someone complained about the gap statistics which I agree, although my purpose is not for you to trade the gap purely by the gap size. But anyway, any confusion should be avoided, so from now on I won't mention any gap statistics. They're useless without combining with other trading techniques anyway.

The Global ES retraced almost 50% of its losses, it's rare for such a strong rebound just one legged, so the very first pullback should fail. But on the other hand, it's also rare for the sell off we had in the last couple of day just one legged, so the current rebound also should fail, especially the rebound still looks like a Bear Flag. Confused? Yeah, I'm pretty much not sure what the market would go the next, we have to wait to see anyway.

i personally still like your gap statistics. i think everyone has been fair-warned, and you should continue to do what you do, which is give the likely-hood of gap fill-age or not.

just my opinion - not a request.

Second.
I recall my learning started from read it every morning.

[uempel]

Why the beach?
SPX http://99ercharts.blogspot.com/2011/09/spx_07.html

Surf's up.

Nice chart 99, I guess the market will have another go at resistance in 4 minutes...

[agnosia]

ok gap finally filled on /cl .. i am OUT for now..

[frankthetank]

This rally is going up faster then it came down. This is got a be the rally before the big fall. When the market starts acting irrationally something big is going to happen the other way. When this rally ends its going to be one big and fast fall

[agnosia]

next for /cl we have confluence of 90 level... very important area. if we break that convincingly then there are many gaps to be filled up above that area , first one being 91.93.

[99er]

What says the surf report?
AUDJPY http://99ercharts.blogspot.com/2011/09/audjpy_07.html

Choppy at first followed by big waves.

[BullBear52x]

Looks strong but still well under 5dma, sell the RIPs is still on. Bulls not out of the wood just yet.

[jarbo456]

testing the top of the 1 minute channel.

[KENA]

Why the beach?
SPX http://99ercharts.blogspot.com/2011/09/spx_07.html

Surf's up.

Well 99er if your chart is right we may be going dn in a little bit. Like your charts you are a brother BEAR. Ha

[Sqwii]

From what I see SPX.

Making a potential topping hs pattern with the left shoulder at 1190 , the top at 1230 - the right shoulder at 1190 now....

Target is 1050 per this pattern........

Over and out ! im short from 1220 and remain short here.

[Cobra]

so far the bias is on the upside. gap up and higher high after 10:30am ET, so 90% chances today Close > Open.

[agnosia]

This rally is going up faster then it came down. This is got a be the rally before the big fall. When the market starts acting irrationally something big is going to happen the other way. When this rally ends its going to be one big and fast fall

there will be no fall.. guys look at all the safe trades they are all going down quickly. big money is coming out of gold , bonds, and vix is coming down... money managers have to be fully invested. this is just one big game of money shuffle... fundamentals don't matter too much, as not much has changed. just play it like a game and it will all make sense

[agnosia]

we broke R2 on /es at 1184 and i added more contracts... hope the guys on wall st don't run out of cocaine

[cowboy]

Not to worry Cowboy. My wife doesnt even get my jokes.
Here is something you may wish to watch at your leisure regarding banks and the FED.
http://www.youtube.com/watch?v=H3HmV43Zs-M

Thanks Mongoose, will watch. Btw, there are two movies called "Capitalism - A love story" and "Inside job" also very good.