11/08/2011 Intraday Watering

[hdenandy]

Exactly what the market wanted.

Forget all your technical indicators.

1300 on the SPX within a couple of days is now a certainty.

This is very helpful, you come to TA board and telling everyone throw out what they do here? hmmmm I think I waste my time after all these years.

My comment was tongue in cheek.
I assume your's was also. ??!

[tdo722]

i knew it, HOD coming. also, it's a double top and a massive negative divergence, here comes the short, weeeee.............

come on, spy 126 target.

[dcurban1]

guys who cares about the news, just trade what you see and know. stocks go up into the holidays and any excuse to do so will make it happen. trade accordingly.

Pretty much. I said last week that if I could not get a short I would go long gold and silver.

Makes the decision easier.

Time to look at the miners I follow. Lots of great earnings.

[BullBear52x]

I will only sell under my yellow line.

[KENA]

Sorry bears, wait for new set up, this is the price to pay when trying to nail the top good risk reward zone, so far the risk is out weight the reward for the counter trend bears, but the action we see here bulls trying to take out 200DMA I just don't buy it, but that doesn't mean it will no happen.

Ya BB52x we may be doing this for a bit. When I look at the charts we could be building a mirco H & S top in the 1260/1270 area.If this holds true we might start dn to visit the 1200 area.Wait and see.

[quatzl]

I will begin short SPY at 127.50.

[silicon_beaver]

this market is owned by the europeans....it's dependent on one person each week...ridiculouso!

[jarbo456]

to agnosia...you're totally correct - but i was really wondering why the market was cheering the news. who IS next? hmmmm...sarkozy. i like the sound of that.

....as far as what i see, unless there's another 10 point S&P pump at the end of the day, it looks like we'll FINALLY get the MACD bearish cross in the SPX on the daily today.

[tdo722]

I will begin short SPY at 127.50.

AMEN.

gotta wait for that macd to rollover though my friend.

[dcurban1]

to agnosia...you're totally correct - but i was really wondering why the market was cheering the news. who IS next? hmmmm...sarkozy. i like the sound of that.

....as far as what i see, unless there's another 10 point S&P pump at the end of the day, it looks like we'll FINALLY get the MACD bearish cross in the SPX on the daily today.

French elections next year and Sarkozy cannot run. THAT will be interesting.

[HappyFriday]

challenge the high as I said. we have another new PM?

Market will be on fire, and the DOW should be up 300 points today !
Oh yea ! Berlusconi resigns !

S&P is ready to pass 1275 and close above it today !
All fund managers should be buying before the market close today, or they are late for the boat.

[tdo722]

I will only sell under my yellow line.

$126.70?

[easycomeeasygo]

short 1268

[SB73]

Cobra on a more intermediate term all of this overlap has to be bearish right?

[BullBear52x]

Sorry bears, wait for new set up, this is the price to pay when trying to nail the top good risk reward zone, so far the risk is out weight the reward for the counter trend bears, but the action we see here bulls trying to take out 200DMA I just don't buy it, but that doesn't mean it will no happen.

Ya BB52x we may be doing this for a bit. When I look at the charts we could be building a mirco H & S top in the 1260/1270 area.If this holds true we might start dn to visit the 1200 area.Wait and see.

Tight stop that's all I have to remind myself and be nimble. hell, I took profit two times already today, not easy but can be done and I will keep trying on the evil side until 1300 is cleared on SPX than I will bull on all the way. o yay bring it on.

[Me XMan]

Let's see what Sarkozy and Merkel clown show do after kicking out Greece and Italy PM's.
Greece still want a better deal from EU and Italy is looking to get the same.
No way Greece and Italy will sit there and pay these bankers.

[99er]

Update

RUT http://99ercharts.blogspot.com/2011/11/rut_3587.html

[agnosia]

to agnosia...you're totally correct - but i was really wondering why the market was cheering the news. who IS next? hmmmm...sarkozy. i like the sound of that.

....as far as what i see, unless there's another 10 point S&P pump at the end of the day, it looks like we'll FINALLY get the MACD bearish cross in the SPX on the daily today.

it's crazy trying to understand what's going on. people are crazy to think that replacing one person is gonna somehow "fix" europe. instead of fighting it , i drink the kool-aid along with everyone but always know the market can turn on a dime so i trade with stops and carefully.

[jarbo456]

lol:

http://www.zerohedge.com/sites/default/ ... ni%202.jpg

[zipper]

I believe selling is asking for trouble... this is a bull market and we are going higher...Just my 5 cents worth