10/12/2011 Intraday Watering

[SB73]

fomc minutes approaching 2pm. Time to buckle up seatbelt and ride this baby down

Almost forgot about this...I am sure the Fed will be full of good news[img][/img]

[Cobra]

cobra you mentioned the EMA 34 for the chart on the solar a few weeks ago . where you like to close your short when it hits the EMA.
does it work when you want to be long to buy above EMA 34 ( by the way on the 60 minute chart or the daily chart ) please please thanks !!!!

I don't think it's me who mentioned the EMA34?

[janez]

If it is any comfort to bears... some the stocks I on my short list are not so strong today: DG, CHKP for example.

[Al_Dente]

VIX collapsed, that's the 1st sign of top, but too early to call top now, just the 1st sign.

King Cobra: I don’t understand, VIX collapses to bull = top ??

[pablorynx]

I love trading intraday but sometimes there are periods of time where the safest trade is to go with trend.
I observe R2K lagging the market, NDX lagging. Low volumes, advance-decline ratios failing to run past recent highs.
But I am watching bonds right now and there is something going on where the 10yr is looking really really toppy. and you really need to ask yourself, where is that money going to go if it flees bonds.

[agnosia]

aha... i figured it out.... hunting season started here in the states a couple weeks ago.. they must have killed ALL the bears!

[waverider]

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 . . .

I bought some UPRO at 56.

Sold UPRO at 56.36. Not much gain, but too risky.

I think the short side will be safer soon

[ramram]

Cobra - what would it mean technically if SPY moves below the 121.5?

[MM111]

I was being flippant - it's gone up so much that may as wellbe at 1220.

This is a bear market and this run up has been something else.

In that context Cobra's A (higher low I believe is possible??) but back down to 1030-140 is a strong possibility too.

Either way when they run it up again after that it will get taken down again hard and soon.

MMA pattern

[SB73]

I love trading intraday but sometimes there are periods of time where the safest trade is to go with trend.
I observe R2K lagging the market, NDX lagging. Low volumes, advance-decline ratios failing to run past recent highs.
But I am watching bonds right now and there is something going on where the 10yr is looking really really toppy. and you really need to ask yourself, where is that money going to go if it flees bonds.

Just a thought, but if you were scared to death of equities when bonds offered effectively a negative return would you chase equities after a 13% move? My guess is the money will flow to cash pushing up the US dollar.

[BullTart]

Starting to get more interesting... risk / reward profile starting to look better and better for a nice correction. MMmmmm.

I hope we get to my orange box, because then I will, once again go "all-in" TVIX!

[frankthetank]

13% move and we don't even get a retracement. something really off or this is short term peak slow stoch have been overbought for 2 days, cho over 200,000 and macd over bought for 2 days. Bulls are crazy

[99er]

SPX
http://99ercharts.blogspot.com/2011/10/spx_2277.html

Grrr...

[BullBear52x]

transportation is especially weak today.

YA.and I am to.HA

I got spank from TZA another 5% today too, the other day I spanked them with TNA hedge thought I was genius after running it up from 27ish. patience what goes up must come down, the funny hair dude once said.[/quote]

Because of you, I didn't short IWM. I'm still patiently waiting for another entry for either long or short.[/quote]
are you using me as contrarian indicator? [/quote]

Not really, but it has worked for a while. I guess most of us here are too bearish.[/quote]
well, it would be nice if you would help us out, so we can benefit since the majority of us is wrong. I bet anyone here will like that. I am taking the good from everyone here, and ignored the bad. looking forward to benefit from your insight.

[jarbo456]

I love trading intraday but sometimes there are periods of time where the safest trade is to go with trend.
I observe R2K lagging the market, NDX lagging. Low volumes, advance-decline ratios failing to run past recent highs.
But I am watching bonds right now and there is something going on where the 10yr is looking really really toppy. and you really need to ask yourself, where is that money going to go if it flees bonds.

realize that this was a POMO day, fed selling duration and buying long (read 10 year) duration bonds. might look toppy, but plenty more fed action doing the same coming up. don't think the money is going to "flee" the one duration of the bond market that the fed has and will continue to buy.

[grachu]

oh no .. someones ask you she was new and she wanted to know how to exit the trades and I though you were the one mentioning the 34 EMA .. .and use some solar company... shoot. was not you then

[tapesense]

Just a thought, but if you were scared to death of equities when bonds offered effectively a negative return would you chase equities after a 13% move? My guess is the money will flow to cash pushing up the US dollar.

I think money needs to convert from another currency to prop the dollar

[BullBear52x]

No sign of let go from the bulls here.

[frankthetank]

does anyone think we will get a retractment today. This has been painfull

[heavenskrow]

Man I wonder how many bears are licking their wounds still.
Been holding TMV from last week's bear trap, and its paying off very nice.
I hate to rub it in, but damn I LOVE when good analysis works.