10/05/2011 Intraday Watering

[AK84]

i see spx going up MAXXXXX to 1143 )(hourly 50dma resistance)-1160 (daily 20dma resistance)...1163 also corresponds nicely with a backtest of the consolidation and bear flag range.

[agnosia]

ok got stopped out at 1125 for a measly 1 point profit on /es. done for today, i got a headache. see u guys , good luck trading

[alvian33]

ok got stopped out at 1125 for a measly 1 point profit on /es. done for today, i got a headache. see u guys , good luck trading

see you!

[cougar]

VIX did not break 39, but traders have a great appetite for VIX Oct. 35 puts, which are already overpriced…
But they might be wrong…

[AK84]

i don't think the low is in, but i'm still long the market right now. anyone in that camp?

I am ...I closed 90% of my shorts this morning on the dip. Expected weakness this morning that I figured would get bought up. Holding calls on AAPL GOOG and WYNN as of yday and added more today. not bad so far

Yo Jarbo...u in NYC right ? We should meet up and grab a drink dude!

[Al_Dente]

bullish internals
annotated
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =245336889

Do you always draw the $nyadv line at 2000 to long?

Thanks wave
No. $NYADV uptrend with no negative divergence = go long
If/when NYADV holds above 2000 and goes higher, it is the loose “definition” of a “bull trend” day, as opposed to a “choppy” day or a “range” day
It may pullback below 2000 for a correction, but I hate corrections, and I hate any day that pretends to be bull but can’t get the advancers above 2000
Same in reverse for $NYDEC

I also use it for my own personal rules (my rules only… others have better rules, etc.)
NO juiced ETFs on a “chop” day
Use juiced ETFs only on “trend” day
Eg: if advancers chop around below 2000, I must use UYG instead of FAS if I want that trade.
Same in reverse for bear day but the decliners are dickin around below 2000, I look to SDS instead of SPXU, etc

[wayne0708]

consolidation! no good for bears

[jarbo456]

i don't think the low is in, but i'm still long the market right now. anyone in that camp?

I am ...I closed 90% of my shorts this morning on the dip. Expected weakness this morning that I figured would get bought up. Holding calls on AAPL GOOG and WYNN as of yday and added more today. not bad so far

Yo Jarbo...u in NYC right ? We should meet up and grab a drink dude!

yeah man i am. and sure, we can have a little nyc meetup. but in a few days when i get over the 6 manhattans i had last night...

do you work or is this your thing from home?

[AK84]

i don't think the low is in, but i'm still long the market right now. anyone in that camp?

I am ...I closed 90% of my shorts this morning on the dip. Expected weakness this morning that I figured would get bought up. Holding calls on AAPL GOOG and WYNN as of yday and added more today. not bad so far

Yo Jarbo...u in NYC right ? We should meet up and grab a drink dude!

yeah man i am. and sure, we can have a little nyc meetup. but in a few days when i get over the 6 manhattans i had last night...

do you work or is this your thing from home?

hahaha nicee one man ! i live in hells kitchen! nah man ...i wish this was my full time thing but i do have a real job too !.....oh well ..one day ill be able to do this fulltime!

lets def catch up ! send me ur digits and name in a PM

[BullBear52x]

target 111.5 there should be a buyer there.

[waverider]

bullish internals
annotated
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =245336889

Do you always draw the $nyadv line at 2000 to long?

Thanks wave
No. $NYADV uptrend with no negative divergence = go long
If/when NYADV holds above 2000 and goes higher, it is the loose “definition” of a “bull trend” day, as opposed to a “choppy” day or a “range” day
It may pullback below 2000 for a correction, but I hate corrections, and I hate any day that pretends to be bull but can’t get the advancers above 2000
Same in reverse for $NYDEC

I also use it for my own personal rules (my rules only… others have better rules, etc.)
NO juiced ETFs on a “chop” day
Use juiced ETFs only on “trend” day
Eg: if advancers chop around below 2000, I must use UYG instead of FAS if I want that trade.
Same in reverse for bear day but the decliners are dickin around below 2000, I look to SDS instead of SPXU, etc

Thanks, I'll keep that in mind!

[flight23]

This looks interesting... supporting an intermediate term low yesterday with a bull trend beginning.
http://www.marketanthropology.com/2011/ ... ction.html

[jarbo456]

i don't think the low is in, but i'm still long the market right now. anyone in that camp?

I am ...I closed 90% of my shorts this morning on the dip. Expected weakness this morning that I figured would get bought up. Holding calls on AAPL GOOG and WYNN as of yday and added more today. not bad so far

Yo Jarbo...u in NYC right ? We should meet up and grab a drink dude!

yeah man i am. and sure, we can have a little nyc meetup. but in a few days when i get over the 6 manhattans i had last night...

do you work or is this your thing from home?

hahaha nicee one man ! i live in hells kitchen! nah man ...i wish this was my full time thing but i do have a real job too !.....oh well ..one day ill be able to do this fulltime!

lets def catch up ! send me ur digits and name in a PM

hey hey! this IS a real job! and this is my fulltime gig.

[zudec]

What's interesting here is that equities are up but the dollar is not tanking.

I started noticing this before... and back on Monday, that's what smelled fishy to me. Dollar wasn't playing along with the moves. Something was changing. It was enough for me to cash out and see what transpired from the sidelines.

This could be a very important change.

Equities might go up ALONG with the dollar, as money comes into the US equities market.

Why? Because just like the dollar, even though it sucks, it's still better than the alternative equity markets in Europe and now China and Asia. It's "relatively" good. It is easier to print money here than it is in Europe. etc. etc.

Exactly.


Although on the wave count, I'm thinking we're in a 4 up.

Agree and am legging into SMN...your thoughts?

[Cobra]

more likely a breakout, tinted area as text book target for Ascending Triangle or C&H.

[alvian33]

cobra, short at today close if up, still valid? thanks

[Jennyahwu]

more likely a breakout, tinted area as text book target for Ascending Triangle or C&H.

Cobra, do u still think the close will be red? thanks

[CognitiveDissonance]

What's interesting here is that equities are up but the dollar is not tanking.

I started noticing this before... and back on Monday, that's what smelled fishy to me. Dollar wasn't playing along with the moves. Something was changing. It was enough for me to cash out and see what transpired from the sidelines.

This could be a very important change.

Equities might go up ALONG with the dollar, as money comes into the US equities market.

Why? Because just like the dollar, even though it sucks, it's still better than the alternative equity markets in Europe and now China and Asia. It's "relatively" good. It is easier to print money here than it is in Europe. etc. etc.

Exactly.


Although on the wave count, I'm thinking we're in a 4 up.

Agree and am legging into SMN...your thoughts?

SMN?

Sorry, still working on the acronyms for the board.

[gabor]

What's interesting here is that equities are up but the dollar is not tanking.

I started noticing this before... and back on Monday, that's what smelled fishy to me. Dollar wasn't playing along with the moves. Something was changing. It was enough for me to cash out and see what transpired from the sidelines.

This could be a very important change.

Equities might go up ALONG with the dollar, as money comes into the US equities market.

Why? Because just like the dollar, even though it sucks, it's still better than the alternative equity markets in Europe and now China and Asia. It's "relatively" good. It is easier to print money here than it is in Europe. etc. etc.

Exactly.


Although on the wave count, I'm thinking we're in a 4 up.

Agree and am legging into SMN...your thoughts?

The correlation between the dollar and eqities is still strong. Sooner or later SP will follow the dollar, I guess.

[tapesense]

Bias pivot for SPY swings is Oct 1 high, intraday ES 1109. Targets up 1136 & 46