10/20/2011 Intraday Watering

[noob]

very odd to be so bullish with a fairly important announcement due out at 1:30. unless.....someone already knows that it's going to be good news?

What is the announcement about?

apparently some spokesman for merkel is supposed to announce something about the summit this weekend.

Should be out by now? Non event?

[tdo722]

I was green and now down $300. Man this whole trading gonna make me die early like Steve Jobs. all the money in the world ain't gonna be enough. but i'll take the money any day.

[Cobra]

as long as no sharp pullback, a consolidation here is good for bulls.

Hi Cobra. Are bears over again? Or we need to wait for market close to make conclusion?

wait. but basically if we don't drop hard today, bears are not in good condition.

[Dow Trader]

first intraday resistance in ES 1209.50

if hold, target at least 1204.25

first target hit + 5.00
now 2 level to watch 1209.50 again and 1202 area

[MrMiyagi]

I was green and now down $300. Man this whole trading gonna make me die early like Steve Jobs. all the money in the world ain't gonna be enough. but i'll take the money any day.

Oooooo.... too soon...

[stucap]

Looks like the buying machines just turned on again after it held 1205 for a minute

[Al_Dente]

well, hopefully the previous bar was an exhaustion bar, therefore at least bulls take a breath here.

Thank u dear Cobra
BTW: would your father care for a plate of spaghetti for lunch?

[Unique]

I caught the exact bottom at 12:20

http://postimage.org/image/2mbyrmxfo/full/

[Cobra]

well, hopefully the previous bar was an exhaustion bar, therefore at least bulls take a breath here.

Thank u dear Cobra
BTW: would your father care for a plate of spaghetti for lunch?

[trader0303]

Looks like the buying machines just turned on again after it held 1205 for a minute

Seriously...it's moves like that that make me want to stick to swing trading.... bad day for me

[MrMiyagi]

Something, or some people (cough*feds*cough) are holding the market up; look at all the down news from all over.

[CognitiveDissonance]

as long as no sharp pullback, a consolidation here is good for bulls.

Hi Cobra. Are bears over again? Or we need to wait for market close to make conclusion?

wait. but basically if we don't drop hard today, bears are not in good condition.

Cobra, thanks for the heads-up

[stucap]

Something, or some people (cough*feds*cough) are holding the market up; look at all the down news from all over.

It's Hopium --- Obama speaks at 2 about Libya, no?

[Denali92]

Interesting to see that the DAX is not really buying this rally 5777 vs 5747 low.... may mean nothing, but as Europe is driving this train.... it is something to be aware of.... of course, the Euro has had a nice bounce.

-D

[pady]

120.77 and then upto 122 to complete 2 of 5 ???

[MrMiyagi]

It's Hopium --- Obama speaks at 2 about Libya, no?

Hopium... hah
Libya is old news now aside the fact that TECHNICALLY there should be a bit more oil flowing.

[Cobra]

be careful of H&S Bottom. in this market you should TRADE WHAT YOU DON'T BELIEVE.

[KENA]

Here is something to chew on.. The charts on the $ are looking bullish and EURO is looking bearish..This should play out soon..Depending on the rest of the day and to keep my risk levels lower I may buy SPY puts near close.Don't know if I will hedge or not.Lets see.( my call for the IWM to test todays hi is close) Now back to finish my workout.

[MrMiyagi]

Here is something to chew on.. The charts on the $ are looking bullish and EURO is looking bearish..This should play out soon..Depending on the rest of the day and to keep my risk levels lower I may buy SPY puts near close.Don't know if I will hedge or not.Lets see.( my call for the IWM to test todays hi is close) Now back to finish my workout.

Dollar is also set to bounce out of its cycle low.

[gabor]

be careful of H&S Bottom. in this market you should TRADE WHAT YOU DON'T BELIEVE.

simple bulltrap