10/20/2011 Intraday Watering

[GreedyKojiro]

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

Thanks Cobra...

Ladies and Gents! Please fasten your seat belts...

[jarbo456]

yeah, i'm not believing in this rally...just yet. still hanging on to all my spy puts. SPY is leading the way in this rally, and that's always dangerous to follow.

[silicon_beaver]

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

simple bulltrap

bulltrap or beartrap?
I was thinking beartrap.

[SB73]

good luck all done for the day. Up 5% for the week...not sure I can hold the gains if I try and keep trading this market.

[Petsamo]

The SPX keeps messing with the 50 EMA.

[fehro]

call me crazy.... retest of Tuesdays highs? with a violent move up in the last hour?

[Unique]

I caught the exact bottom at 12:20

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

Topping out here...zzzzzzzzzz

No fun...

Time to kill the bulls.

[gabor]

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

simple bulltrap

bulltrap or beartrap?
I was thinking beartrap.

This kind of market behavior attract bulls but repells bears. That is why a bulltrap. 1190 /ES will be broken down soon.

[MrMiyagi]

yeah, i'm not believing in this rally...just yet. still hanging on to all my spy puts. SPY is leading the way in this rally, and that's always dangerous to follow.

I bought puts too early in this rally. I would love to see it at 117$ (or below).

[champix]

Exactly the same patern than in Europe session... a drop, then a big squeeze up with the EURO... and after, a huge move down...
so I am not sure bears are over... we'll see !

[agnosia]

watching /es 1202 . 50% of the move. feels like we are headed back there. or bear trap?

[jarbo456]

bulls and bears have equal chances here. we're right back where we've been fighting for over a day now. we tried to go above it, and came down, and we tried to go below it and came back. i'm not overly bearish, but i'm certainly not thinking the bears are done. again, this ramp up was led by SPY, NOT by a decline in /dx, or a huge decline in TLT...etc. etc.

[SB73]

Casual observed now with no positions, but both bear and bull are pathetic right now. Seriously maybe the bulls don't have enough shorts out there to squeeze.

[tdo722]

bulls and bears have equal chances here. we're right back where we've been fighting for over a day now. we tried to go above it, and came down, and we tried to go below it and came back. i'm not overly bearish, but i'm certainly not thinking the bears are done. again, this ramp up was led by SPY, NOT by a decline in /dx, or a huge decline in TLT...etc. etc.

this climb was led by financials. But looking at the hourly, this could just very well be a correction for the decline from yesterday. hmm...

[Dow Trader]

watching /es 1202 . 50% of the move. feels like we are headed back there. or bear trap?

1209.50 confirmed as an intraday resistance again

[silicon_beaver]

bulls and bears have equal chances here. we're right back where we've been fighting for over a day now. we tried to go above it, and came down, and we tried to go below it and came back. i'm not overly bearish, but i'm certainly not thinking the bears are done. again, this ramp up was led by SPY, NOT by a decline in /dx, or a huge decline in TLT...etc. etc.

this climb was led by financials.

yeah.

so I blamed the un-filled buy order of FAS 11.80.

[Unique]

SPY 100sma 1min= mini rebound and retest 100sma. Gonna shake here for awhile...

[agnosia]

watching /es 1202 . 50% of the move. feels like we are headed back there. or bear trap?

1209.50 confirmed as an intraday resistance again

yep seems like a tough one but maybe one more try and we finally take it out? can't keep a good bull down lol. everyone is looking at the inverted h&s so if 1203 is taken out stop galore triggered.

[Al_Dente]

LISTEN UP SHARKS: The reason why Al can’t turn on a dime is because Al is, let’s spell it out:
T*R*E*N*D F*O*L*L*O … oh never mind, u sharks don’t understand that concept

5m update internals, still on SH because spy couldn’t make higher high, and because u want to decide 4 yourselves (ignore my green/red lines), anything can happen here, esp w Pres Ob speaking, all in hands of shorts right now (as usual)
http://stockcharts.com/h-sc/ui?s=$NYDEC ... =246012600

[stucap]

call me crazy.... retest of Tuesdays highs? with a violent move up in the last hour?

i'm thinking that too.......1205 ES seems to be the make or break line with the action i'm seeing around it.. If we stay between 1205 and 1212 for the next 30-60 minutes.....get long! IMO of course....