10/27/2011 Intraday Watering

[Tabby]

Tabby

RUT http://99ercharts.blogspot.com/2011/10/rut_27.html

This may be a beautiful wave!

I don't trust this market. I am not sure about this bull rally yet to go long. I'll stay in cash for now.

[BullBear52x]

Ha? now everyone on fundamental. I'll reset my position at 125. can't fight them join them.

Yo BB: what u gonna be for Halloween….....mmmm, guessing…....…mmmm….I have no clue?

French maid. what do you think? duh

[EvilTrader]

Just saw in Bloomberg TV : so far this is the largest monthly rally since 1987 !!!

[pablorynx]

if anyone cares about the fundamentals of the situation, this was actually well written, which is surprising considering it came from marketwatch:

...The first is that the private lenders have “voluntarily” (ha ha ha) taken a 50% haircut, which while maybe not quite enough at least presents a possible if not probable way for Greece to grow out of the hole it’s in. (A number closer to 66% would have been better.) Read more on European debt deal.

More importantly, European banks will be recapitalized after — and “after” is the key word — writing their euro-zone debt exposure to market...

There still are plenty of details to be worked out — such as, who’s going to pay for the boost in the EFSF, who’s going to pay for the banks to recapitalize, how Greece will suddenly turn the corner when it’s still uncompetitive against its euro-zone neighbors, whether write-downs will be needed for Irish, Portuguese, Spanish or (shudder) Italian debt, or what the standing is of U.S. banks that bought insurance on Europe via credit-default swaps, since those instruments basically aren’t worth the paper or hard-disk space they’re written on.

I think the other thing which seems to be lost in the shuffle of who's going to backstop who and how much leverage and austerity and such, is that no clear plan for GROWTH is actually articulated. Austerity with no growth implies you're going to lower GDP growth. it gets worse, not better. (Europe likely goes into recession next year). Meanwhile, the market rallies as it can't wait for the hammer to fall. Remember, we get used to stuff until we can't ignore it. This whole saga could take two years before minimal resolution.

Agreed. Europe is screwed. The UK did well to stay clear and China and India will continue to gain on the sad Europeans. Karma coming due for the Germans. (no offense, I'm part German)

Fundamentals have their place in informing investment decisions for sure. For instance: US data is better than had been expected. GDP @ 2.5% was a pipe dream just a month ago. Non-distressed home prices have stabilized and in certain areas of the country, demographic forces have pushed them higher. The Baltic Dry index is showing signs of life, implying that Chinese shipments of iron/coal have increased dramatically (I assume Chinese cause who else is going to use these goods now). And euroland will be dead (at some point), policy makers are good at dragging the brain-dead patient. The US will also be similarly screwed (but it might take us 10 years to get there), barring some unforseen technological innovation which provides us with leverage for growth (non-financial). So what does this leave me with? Et ceteris paribus, the market rallies. Cause everyone feels the terrible situation we're all in, but our positions reflect that reality. Everyone already gets the joke. Not many are getting the timing. So yes, fundamentally, technically, you should be long.

Oh I'm no sucka. I hold AAPL long (majority of my Long positions) and it's up 25% YTD. It's the market I like to short.

So my quandry is this: I too was an AAPL long, but ditched it around 405 or so, way shy of the 420 target. in the past 5 weeks, AAPL has underperformeed the SPY by more than 10%. What do you do with this? I'm bullish on the company, and their prospects, but the stock just hasn't seemed to be acting the right way?

[uempel]

Many long term charts show resistance around 1270, here a 60 min targeting the area:

[BullBear52x]

Short the hell out of it until 125, or lower heheh..

[99er]

Tabby

Short.

[lumeipro]

buy on rumor, sell on news...Qs are lagging and apple is about to fill the gap...what a ride.

[silicon_beaver]

Anyway, loaded ERy at 2.1

[Roadrunner]

Not much to say today..It has all been said..Not adding to my shorts as yet..I will watch,.. Wait and see..Maybe I will get something done around the house now that the whole world is ok.

paint brushes are in my corner - will join you

[99er]

Updates

Copper http://99ercharts.blogspot.com/2011/10/copper_27.html
Crude http://99ercharts.blogspot.com/2011/10/crude_27.html

[pady]

Interestingly from May 5 highs to Oct 4 lows, SSO has done an exact 61.8% retrace while SPY and S&P have retraced more.

[StrikePrice]

I was never a spike/P-bar believer, I was making fun of 127 P-bar on mid August, well, guess where we are now? for that, yesterday P-bar? I'll believe it if we see 119 again in a month.

Thanks for the P=bar update. I guess the dark pools really do run the show. I don't think it'll take a month for 119. This might even been first wave of retrace and not wave 4 of 5...afternoon session will reveal the truth.

[Apple]

Any aapl shorters here? What is your target? 399.8?I got in 1 deep ITM put around 406.5. It seems weaker than the mkt.

short irwd

[janez]

today will prove to be the best shorting opportunity ever!

[99er]

Updates

Gold http://99ercharts.blogspot.com/2011/10/gold_27.html
Silver http://99ercharts.blogspot.com/2011/10/silver_27.html

[Al_Dente]

Ha? now everyone on fundamental. I'll reset my position at 125. can't fight them join them.

Yo BB: what u gonna be for Halloween….....mmmm, guessing…....…mmmm….I have no clue?

French maid. what do you think? duh

only click here when u need a GOOD laugh, and only when you have 2:44 min free, can’t turn off early, LOL hysterically to the very end
Beyonce parody
http://www.youtube.com/watch?v=ExxXEF2n ... re=related

[silicon_beaver]

just read last two pages, all LaoDa (chiefs) are shorting.

???

[champix]

I do not participate at this bull run (unfortunately) so here is my commo plan :
GOLD (gc), bought @ 1711, target 1740 stop 1719
CRUDE (cl), maybe an opportunity to long @ 92,45 if spi wants to go north.

[lumeipro]

aapl not the same without Steve. Reading Steve's book, very interesting, quite a character.