09/14/2011 Intraday Watering

[Cobra]

nothing to say, strong, so the first meaningful pullback if any should be a buy. I give up looking for pullback now.

Would you really buy here?

I bought already, half out when test the morning high which I shouldn't. didn't think the push up this strong.

[Cobra]

Cobra

What is the line in the sand for bears and bulls alike? At what level shud we switch u think?

Also, today's push up is quite strong. Is the yes we can scenario coming into play? Germany n France have backed Greece n say it will stay in the EU. What do u make of this?

Thanks

just posted the big picture. the short-term to me is clear up, so I'll add long if I see good chances, I'll hold my trapped short until stopped out, that's my plan. If bulls failed eventually as I thought, I'll simply add into the short side.

I still think the rebound will fail eventually.

[AK84]

Cobra

What is the line in the sand for bears and bulls alike? At what level shud we switch u think?

Also, today's push up is quite strong. Is the yes we can scenario coming into play? Germany n France have backed Greece n say it will stay in the EU. What do u make of this?

Thanks

just posted the big picture. the short-term to me is clear up, so I'll add long if I see good chances, I'll hold my trapped short until stopped out, that's my plan. If bulls failed eventually as I thought, I'll simply add into the short side.

I still think the rebound will fail eventually.

Thank u kind sir! V v helpful!

[KENA]

On my SPX chart I see the top at 1195 right at the channel line.I would say this could be the top.So I guess we wait and see.Lots of res.above.

[Cobra]

well, I know I swore not to say anything about pullback today, but I could still talk about potential chart pattern, couldn't I? I wonder if this is another failed Rising Wedge for today?

[rupert]

I'm afraid to say it but I've closed out my short position

It had reached max pain for me. It'll probably crash tomorrow now. Gutted by the strength of this rally.

[jarbo456]

well, I know I swore not to say anything about pullback today, but I could still talk about potential chart pattern, couldn't I? I wonder if this is another failed Rising Wedge for today?

well i hope it follows what happened with the last failed falling wedge, because i just spent the last 20 minutes getting back long the market.

[99er]

SPX
http://99ercharts.blogspot.com/2011/09/spx_7503.html

"What goes up (and up and up)..."

[Cobra]

here's another picture that I have a doubt about bulls. AUDJPY is way too weak.

[Al_Dente]

Buying bonds AND buying stock?
But bonds rarely correlate minute to minute w SPY, sometimes not day to day even.
But WHERE is all this money coming from.
Anyone see big selling in another asset class.
WHERE are they selling to buy HERE.


squeeze


Advancing issues 2100, strong enough for bull but not strong enough yet for monster bull. I don’t keep A/D log, but I do recall seeing it it reach >2800 on monster days, meaning it has room to go higher if it wants to [repeat: IF it wants to]. Reverse means it is weak toast bull.

Starting to see selling bonds, oy, more ammo for bulls.

[biotrader]

I'm afraid to say it but I've closed out my short position

It had reached max pain for me. It'll probably crash tomorrow now. Gutted by the strength of this rally.

just went short

[heavenskrow]

Bonds is in one huge channel

[qtipped]

no, the mkt won't pull back because i'm still holding my trapped shorts....what a dumbass trade...

the problem now is that everyone is trying to short this market and it's not working...it's just adding more fuel to the fire. suck i want to be out...will throw in the towel after tomorrow.

[Be4chst]

I'm sure we are all aware of triple witching Friday coming up. Could this weeks short covering have something to do with the expirations in friday? Some pre-covering?

I'm long tvix still, I don't see the market rallying just yet. In fact I see us testing and breaking low of 8/9 before we get a clear up trend. Also, volume has been gradually declining this week, again, that incites we don't have a lot of big money moving in yet.

[ramram]

I just went short also. Will hold over the weekend.

[zazusays]

ditto

[qtipped]

weekly candle resistance is clearly taken out. i'm just hoping we get some kind of pullback by friday....i suck.

[ramram]

I see a head and shoulders pattern with ES neckline at 1177.

[mac769]

i know never to catch a falling knife, but i couldn't help myself and went long at 116.8 when it looked like an extreme exhaustion down to 116.72.

yes, so far so good, we mai see a test of 120, and if it breaks to the upside the bears give in the towel

[HappyFriday]

Today 120 no problem.