10/27/2011 Intraday Watering

[Al_Dente]

Glance at P-bar on ITUB (Italian bank, trades ADR, is on our top short list)

[BullBear52x]

UNG's 1 min chart looks interesting. Right after getting slammed, it picks up very quickly.

UNG is my baby, not now for me. 8.88

[99er]

cougar

Thanks!

[Me XMan]

UNG is good for winter...

UNG's 1 min chart looks interesting. Right after getting slammed, it picks up very quickly.

UNG is my baby, not now for me. 8.88

[snowinwind]

But if the push up patter goes from 3 to 5, 6, or 7, with the LL and LH every time, even the last major pull back will not drag us down to earth.

Looks like the 3 push up pattern is still in play although the SPX is riding the upward trendline. I decided to take what appears to be a low risk short. If we close above trendline I will take the loss. GLTA

[standard_and_poor]

http://standardpoor.wordpress.com/
the roadmap for today, portfolios and wave count,pics,etc.
yesterday's best performers in the short term high risk portfolio were
gtiv +13.31%, ift +9.82% and spmd +8.57%, most others were slightly
profitable.

closed out all commodity long term shorts on monday, think they'll will follow stock market in sympathy although inflation will be tamed.
watching silver and copper in particular as possible long term longs.

[waverider]

Anyone thinking of shorting Gold?

a favorite quote of mine:


"Retail traders like to do one thing more than anything else: They like to sell things that are going up and buy things that are going down."

btw i am long some /gc @ 1720 looking for a move up to 1780. might get bumpy though.

It broke out above 1700 and the trend remains up... Look at the lifetime trend of gold, is it up or down? Obviously it's safer to buy at the moment.

Tomorrow is the 82nd anniversary of the 1929 crash, dow down 23% in two days!

[GreedyKojiro]

Weak Dollar => Markets will still rally!

[Petsamo]

UNG is good for winter...

UNG's 1 min chart looks interesting. Right after getting slammed, it picks up very quickly.

UNG is my baby, not now for me. 8.88

Cool thanks!

BREAK

The SPY p-bar is visible today at marketwatch.com

[Sank1]

Hello Cobra,

I'm a newbie here. Thank you for the education.

Do you see point 2. from your 10/26 Market Outlook post panning out here, and do you see us setting up for a near-term top and a pullback in the next day or two?

Thank you.

99er, Also enjoy your posts.

Thanks,

[rocstocktrader]

Stock market video: “Euroland Decision Triggers Trend Reversal/Breakout in Stocks & Dollar Index”

It can be found on the right sidebar under Tools-Free Trading Videos1.

http://stk.ly/qYFCaS

[Cobra]

http://standardpoor.wordpress.com/
the roadmap for today, portfolios and wave count,pics,etc.
yesterday's best performers in the short term high risk portfolio were
gtiv +13.31%, ift +9.82% and spmd +8.57%, most others were slightly
profitable.

closed out all commodity long term shorts on monday, think they'll will follow stock market in sympathy although inflation will be tamed.
watching silver and copper in particular as possible long term longs.

I told you please don't promote your site here. Everything has a limit. I'm a very generous guy already. Please don't push me.

[standard_and_poor]

poor "pending" home sales release this morning yet drn and other realty stocks are up.

[Bond]

Looks like inverse head shoulders on the 1 min ...target 1277 thereabouts?

[Me XMan]

It's mirroring ERU/USD

Weak Dollar => Markets will still rally!

[Cobra]

Hello Cobra,

I'm a newbie here. Thank you for the education.

Do you see point 2. from your 10/26 Market Outlook post panning out here, and do you see us setting up for a near-term top and a pullback in the next day or two?

Thank you.

99er, Also enjoy your posts.

Thanks,

yes a short-term pullback is very likely now, just again it's for very experienced traders only.

[frankthetank]

Is there not any type of rule with declining volume. On the 15 minute chart we've had 5 straight week green bars on declining volume. The market keeps going up on lower and lower volume. Usually lower volume means trend change. Also everytime we've had p bar the market goes the other way first and maybe two three days later you get a chance to fullfill the p bar

[Dow Trader]

Boring, so lets check some charts .... this is daily Vix

[99er]

Haircuts

"Those who believe that the ECB will go ahead and carry through on its promise of a 50% haircut and no further, should be buying up the entire curve which trades below 50. We also wish them good luck. Stocks and algo driven FX may be fooled but the bond market certainly isn't. If anything, judging by prevalent values, even assuming some modest accrued interest, the bond market is expecting a final haircut of about 62%."

http://www.zerohedge.com/news/greek-bon ... r-haircuts

[Cobra]

Is there not any type of rule with declining volume. On the 15 minute chart we've had 5 straight week green bars on declining volume. The market keeps going up on lower and lower volume. Usually lower volume means trend change. Also everytime we've had p bar the market goes the other way first and maybe two three days later you get a chance to fullfill the p bar

you have to see series of decline volume on up bar. those up bars cannot be interrupted. than a sudden volume surge on a little bigger up bar, then it's exhaustion. It's very rare case, so don't hope.