10/20/2011 Intraday Watering

[Cobra]

i decide to be lazy today, because technically hypothetically presumably many years ago, my mom gave birth to me today.
as usual, i sent my mom flowers and a thank you note, to apologize the pain i caused on that day and since then. yes i am very sure i am THE pain.

Happy Birthday!

thanks to all. a reliable source says even tho i am 1 yr older now, i am still younger than cobra.

Really. Tell me how old are you now?

i am 72. thanks.

Really? But still younger than my father who's sitting behind me visiting my Chinese forum now.

[spuderik]

anyone watching copper? it looks like it is doing skydiving.

Dr. copper is a must to follow for real economy indication. not what my uncle Ben say.

Yeah, at 3.20 support now, but could go down to 2.40 (P&F show this, so do Fibs). Let's see if support holds.

Copper futures are flashing 3.054 now. Only 2% away from re-testing the lows! Yet the S&P is still 11% off its lows. Interesting divergence taking place between the two.

[GreedyKojiro]

Bought a small batch of ERX at $43.61

[agnosia]

i am watching 85.20ish for support on crude. critical level that must hold. if not we are probably headed down to 83ish

Well done seeing that big drop coming. Thanks for the update I like looking at your support levels. Looks like possible support just above 84 at the 38.2% from the high as well, but your 83 looks stronger.

it's basically just following the euro tick by tick now. one big macro clusterfuck. yeah if the 84.23 gap doesn't break i like that area for support as well. always a good tell in /cl. if they take the gap out, even if by .01 it''s a tell that they will take it lower.

[GreedyKojiro]

Oil up over $109 on tight supply
http://www.reuters.com/article/2011/10/ ... QH20111020

Guess that's not the oil we trade here...

I also wish it were for UCO or OIL then we all would be ballers.. but it should give a perspective of what coming..

also you should know UCO does not trade the front month on /cl. it trades two months forward i believe. so right now i think it's on january. check the prospectus.

Thanks.

[Al_Dente]

oy, bloombrg quoting Nietzsche now

[Michelle]

Really? But still younger than my father who's sitting behind me visiting my Chinese forum now.

Tell your dad we love his son.

[BullBear52x]

Bought a small batch of ERX at $43.61

My UNG filled at 8.88, yes, baby go bulls go.

[AK84]

Thank Unique! Im out of BIDU as well. Will def reload later or DT

Anyone got any thoughts on CMG ? Reporting earnings tonight...looking bearish IMO. Cobra ? ?

[janez]

consolidation after 2nd down leg. what to expect next?

[Petsamo]

For Elliot Wave guys, Tradeyourwayout.com was using a bullish count from April to until a few days ago. Now, he has the opinion that the bullish count is not working, and that the markets are working their way towards a crash.

In 2010, I think he did a nice job staying bullish when people had the opinion that we were gonna crash on a double dip recession. So far this year during spring & summer, he has been very wrong on the markets. He is proof that no one is correct all the time.

[waverider]

Nydec strong, dollar extremely strong, bottom of the channel support spy. If that doesn't hold obviously 120 is potential support.

Thanks wavy, like yr chart (earlier), u never suspicious watching UUP as possibly skewed by active ETF volume? u don’t need 2 watch futures USdollar or pairs??
nydec >2000 my magic number
can't keep up w board here.... need 2 find faster music... and stronger coffee

I watch the dollar. I don't watch pairs, is EUR/USD considered essential to watch intraday? Gold can't catch a break... If it falls through 1600 I'm shorting.

[Unique]

Bought a small batch of ERX at $43.61

You got balls, buying inside a downtrend? I'm missing something..

[silicon_beaver]

you guys change camps too quick. just like playing ping-pong.
bear->bull
bull->bear

[Mongoose]

Somebody earlier today pointed to FCX --

On the 3rd of October I shared with the board copper had "double bottomed" at 300. Since the third its gotten as high as 345. As I write this its hovering at 307.

Although not as severe, palladium has come down too, from its recent high of around 645 to now 591. Palladium, as I am sure all of you already know, is used in the manufacture of catalytic converters.

[tdo722]

I hope it breaks the 23.6% retracement soon. I am still in red for today because of the crazy move up this morning and I got stopped out.

[silicon_beaver]

btw, I loaded ERY. I see you guys playing ERX.

[waverider]

Bought a small batch of ERX at $43.61

You got balls, buying inside a downtrend? I'm missing something..

This isn't a downtrend. Looks bullish imo

[EvilTrader]

oy, bloombrg quoting Nietzsche now

interesting. i like the guy.

What quote did they say ?

[silicon_beaver]

could we say the p-bar reached?