09/23/2011 Intraday Watering

[silicon_beaver]

GLD and SLV really falling out of their BB channels this AM on the daily. May be ripe for a bounce back to the rail.

loaded some silver this morning.

[99er]

trust_yr_instinct:

Thanks. And yes.This could be quite a rebound.

[BullBear52x]

SMH hit the first minimum target. gap filled.

[ultramarine]

measure move what a coincident with my line in the sand.

bear trap is playing out as you expected. nice one!

[zudec]

Not TA but .... Thoughts Please

How much does next Friday being the end month and 3rd quarter have to do with the way the market may (or will) be influenced?
I'm just wondering how big the run on lipstick could be

[soku]

i think there is some short covering in europe market. planning to short after eur close.

[newbie_77]

SPY weekly where will it be pinned?
114?

[Al_Dente]

And cobra, btw, I still think YOU are the man
I love your blog
I do not care for Ben Bernanke, not the pretend one on your blog, the real one either
that's some honesty....

That creepy neg guy on overnight is using $TED spread and $LIBOR as bullish”evidence”; we have same (but better) charts and see quite bearish, at least for now.
Notice he never pops his head in watering; he’d get hurt
Oy, the sharks here would hurt him bad

[hdenandy]

Good morning to all (although its afternoon here in the UK).

Took a long position on the Dow about an hour ago at 10590 at £10 per point.

Looking good so far !

Decided to bank 175 points at 10765.
Things to do after my markets close in a few minutes.

What a great couple of days !!
Have a great weekend all.

[uempel]

Did the green Fib fan hold? Must the market rally up to SPX 1150/1170 before it makes another attempt to break support 1120 and go down?

SPX4.png

Uempel..You are better at this then i am but YES i think we need a pop up in the range you stated to shake out a few then dn we may go.IMHO

Kena, who says I'm "better" than you?

Whatever, too many shorts hanging around at 1100/1120 are keeping SPX out, can't go lower now. Perhaps market has to send out more bullish vibes before it can eventually do what bears expect...

[lqiantobe]

The market will go down after Euro close?

[BullBear52x]

measure move what a coincident with my line in the sand.

bear trap is playing out as you expected. nice one!

dead clock is right twice a day

[Cobra]

And cobra, btw, I still think YOU are the man

I love your blog

I do not care for Ben Bernanke, not the pretend one on your blog, the real one either

that's some honesty....

Thanks. I don't know what to say about Ben, I don't like being challenged (although it's just for fun, but I still feel uncomfortable), but seeing people mostly disagree with Ben (including me), I become nervous that maybe he's right about his inside communication (although I don't believe such a called inside things). Anyway, I will leave it as is, say whatever you like, as long as there's no emotional attack. I'm sorry if my comment made you feel a little uncomfortable.

[quientuves]

Peace guys. We are newbies, but i think (mostly) we are not stupid. And we can see the differece between someone trying to help and share knowledge and other people only trying to sell something or being destructive attacking others.

Keep the good work, and thanks for your patience with us.

(president of newbies, yeah) =^_^=

[Cobra]

DAX looks bottomed, let's see how it affects the US stock market. I don't mean THE BOTTOM, I mean a bottom of some kind.

[Tabby]

Don't under estimate my uncle.

He needs new hairdos.

[RaniIZking]

I'm still holding shorts... SQQQ & a put option on IWM, foolishly thinking today was also going to be a red day...

Any thoughts by the experts of where today will close, red green blue (neutral)?

[jarbo456]

I'm still holding shorts... SQQQ & a put option on IWM, foolishly thinking today was also going to be a red day...

Any thoughts by the experts of where today will close, red green blue (neutral)?

strong argument for a slight red or slight green day. doesn't really matter which, as it's a day of rest.

then there's a strong argument for both a big red or a big green day on Monday. right now, in my book, it's a toss up.

** But I'm not an expert. Just a Joe.

[trust_yr_instinct]

trust_yr_instinct:

Thanks. And yes.This could be quite a rebound.

sorry I meant, break the AUG lows near 1100, and yes I too agree with both you and Cobra that the next time down near that level should NOT hold , but might provide the needed " give up " and washout that could put in a bottom for the rest of the year.

Problem is that lots of people expect this kinda thing to play out, and lots have plans to buy down near 1050/ 1010 / 980 if we get there, so that MASS thinking sorta worries me. Either we won't get there at all, and just blast off like we did in fall 2006, from around here....or when we get there ( below 1020-50 ) we wil break down even lower cause no one has the guts to actually follow thru with their desire and plan to buy near those levels.

Hmmmmm should be interesting in OCT for sure...question is......is this 2006 ? or 2008 again ?? going into year end

As for next week? Dont the PM's need their numbers to look good for end of quarter??? I'm thinking they will hold up the MO MO stocks like AAPL but may want to dump and not show the cyclicals , oil, materials, etc, on the books too much, as they look real poor the past 3 months.
No matter what is going on in europe or on the charts, lets never underestimate wall street's greed to GET their bonus cheques for quarter end...so look out for marks ups( window dressing next week bears ) pratically happens all the time. then Oct could get bad.

[99er]

RUT
Bounce may be limited if this is just a back test.
http://99ercharts.blogspot.com/2011/09/rut_23.html