10/12/2011 Intraday Watering

Post by **Cobra** » Wed Oct 12, 2011 12:19 pm

H1 or H3 on EMA20 first time, hopefully could be a rebound here. key time for bulls.

stockcycle · Post by **stockcycle** » Wed Oct 12, 2011 12:21 pm

May be some pullback ahead (if 1209 can't hold). I closed some longs positions with profit and keep SPN which I bought today.

Al_Dente · Post by **Al_Dente** » Wed Oct 12, 2011 12:22 pm

Internals update
Tick went red for five minutes then recovered weak bull, nyadv strong bull, VIX bull 30 but, but..…
http://stockcharts.com/h-sc/ui?s=$NYADV ... =245857107

Post by **Cobra** » Wed Oct 12, 2011 12:22 pm

rola wrote:Cobra is not there double top of some kind on 5 min??

too early to tell.

edwindes · Post by **edwindes** » Wed Oct 12, 2011 12:23 pm

Al_Dente wrote:
jarbo456 wrote:paging al_dente...

There’s no perfect real time muni yield tracker. MMD, which is the AAA benchmark muni scale, is published once a day. It consists of literally some dude at Thomson Reuters that calls up six broker dealers and asks them what their bid ask is on a basked of natural AAA names. That’s it. MMD stays flat during one week of august when this “Dude” goes on vacation. Really.
For intraday color, the muni market uses random “reads” put out there by different B/D, but these aren’t “official”. So what yer left with for “real time” is muni mutual funds, like an MHN, MUB, NVG, etc etc etc. Generally, over the long term, I think those funds are decent at tracking, but not in the short (intra day). There are plenty of days when MHN is up and the muni market is down, vice/versa… Some would venture to say the MCDX is trying to play this role, but I simply laugh. If yer interested in short term rates, SIFMA will help, but that won’t help you on the long end…..welcome to munis…
unreal, thanks
meredith whitney been calling 4 muni crash 4 long time… where did she go… used to be frequent bobble-head on biz channels…
She called last turn

even a broken wrist watch is right twice a day (old style not digital, i'm old

rhight · Post by **rhight** » Wed Oct 12, 2011 12:24 pm

This particular minor up trend (since 10/4) appears to running low on ammo. Notice that the "smart" money bought on 10/4. No reversal pattern to trade against yet, though.

jarbo456 · Post by **jarbo456** » Wed Oct 12, 2011 12:26 pm

rhight wrote:This particular minor up trend (since 10/4) appears to running low on ammo. Notice that the "smart" money bought on 10/4. No reversal pattern to trade against yet, though.

there was a large selling on strength number for SPY yesterday as well (http://online.wsj.com/mdc/public/page/2 ... stcalendar). although this often is not proceeded by an immediate sell-off, it does indicate potential future weakness. let's hope it does this time as well.

gabor · Post by **gabor** » Wed Oct 12, 2011 12:28 pm

rhight wrote:This particular minor up trend (since 10/4) appears to running low on ammo. Notice that the "smart" money bought on 10/4. No reversal pattern to trade against yet, though.

Most probably when the smart money closes the long position the trend will turn. But, with decreasing volume, it can go forever. Without a volume surge there will not be a climax.

agnosia · Post by **agnosia** » Wed Oct 12, 2011 12:30 pm

Dow Trader wrote:
it is a weekly close above the cloude with higher high, which is too early, with that been said, you have to have much oxygen in the store so that market makers can't over power your strategy... It is long term postion ( I have been around in 2000 decline and 08 crash so this is not something new even if 1074 is the bottom, still it is a good deal for me in my long term account ). And if 1074 was not the bottom, then they have to shake the weak hands first before any decline as you know.
but the day trade account and swing account, the strategy not same for sure.

cool. thanks for the in depth explanation

BullBear52x · Post by **BullBear52x** » Wed Oct 12, 2011 12:31 pm

Today, only two spelling out BUY/SELL number unlike yesterday. come on guys it's OK to be wrong or you can have full bragging right if you are right. people don't buy after the fact talk. lets roll out the number.

Post by **Cobra** » Wed Oct 12, 2011 12:36 pm

key time, bulls need pray, must touch the above line and if indeed it's the 3rd touch, most likely an Ascending Triangle is in the forming which is good. Fails here would only encourage bears and making things a little more complicated.

Dow Trader · Post by **Dow Trader** » Wed Oct 12, 2011 12:37 pm

This is why SPX 1215 level is important

Al_Dente · Post by **Al_Dente** » Wed Oct 12, 2011 12:38 pm

edwindes wrote:
Al_Dente wrote:
jarbo456 wrote:paging al_dente...

There’s no perfect real time muni yield tracker. MMD, which is the AAA benchmark muni scale, is published once a day. It consists of literally some dude at Thomson Reuters that calls up six broker dealers and asks them what their bid ask is on a basked of natural AAA names. That’s it. MMD stays flat during one week of august when this “Dude” goes on vacation. Really.
For intraday color, the muni market uses random “reads” put out there by different B/D, but these aren’t “official”. So what yer left with for “real time” is muni mutual funds, like an MHN, MUB, NVG, etc etc etc. Generally, over the long term, I think those funds are decent at tracking, but not in the short (intra day). There are plenty of days when MHN is up and the muni market is down, vice/versa… Some would venture to say the MCDX is trying to play this role, but I simply laugh. If yer interested in short term rates, SIFMA will help, but that won’t help you on the long end…..welcome to munis…
unreal, thanks
meredith whitney BLA BLA BLA
even a broken wrist watch is right twice a day (old style not digital, i'm old

LOL me too, old school and old wind up

stockcycle · Post by **stockcycle** » Wed Oct 12, 2011 12:38 pm

Surprisingly! Seems bulls don't need a breather?

Al_Dente · Post by **Al_Dente** » Wed Oct 12, 2011 12:45 pm

nyadv still 2495, $BKX +3.6, China up +3.5% (I use $HXC loaded with ADRs)
unless/until these give way (and it could be near) ….. I gotta stay w trend

waverider · Post by **waverider** » Wed Oct 12, 2011 12:46 pm

BullBear52x wrote:Today, only two spelling out BUY/SELL number unlike yesterday. come on guys it's OK to be wrong or you can have full bragging right if you are right. people don't buy after the fact talk. lets roll out the number.

Some people are anticipatory traders, others are reactionary, nothing wrong with that.

fuddleduddle · Post by **fuddleduddle** » Wed Oct 12, 2011 12:46 pm

Personally I'm out of my longs (high beta longs and TMV). Still holding several ETF shorts since monday trying to fight the trend. Taking pain on those.

Looks like another push up based on an ascending triangle pattern. The market doesn't have legs, only wings right now. I big pullback to around the Oct 4th lows would really bottom things out, and set the stage for the end of year seasonality rally.

PhilM · Post by **PhilM** » Wed Oct 12, 2011 12:50 pm

waverider wrote:
BullBear52x wrote:Today, only two spelling out BUY/SELL number unlike yesterday. come on guys it's OK to be wrong or you can have full bragging right if you are right. people don't buy after the fact talk. lets roll out the number.
Some people are anticipatory traders, others are reactionary, nothing wrong with that.

I am in TMV and that's it. I haven't seen any movement today that is tradeable from my perspective. But I'm waiting . . .

Petsamo · Post by **Petsamo** » Wed Oct 12, 2011 12:52 pm

Da bears are looking pitiful. AA dropped as far as -4.5%; now it's less than -2.0%

fuddleduddle · Post by **fuddleduddle** » Wed Oct 12, 2011 12:56 pm

I have some strong resistance on my SPY charts @ 122? Anyone else?

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