11/11/2011 Intraday Watering

[ddd]

I off loaded 20 SPY Dec calls today. Only 40 more left.

[pady]

Another bullish case -

A = 1216-1278
B = 1278-1227
C = 1227-1266 ( .62*A or 1289 if A=C ).

If we stop around here ( 1266-1270 ), then bears could still have a chance at impulse 3 down. But timelines are not supporting it.

[waverider]

How do folks here trade oil ? For long, I buy UCO. But I cant short UCO ( fidelity doesnt allow ). Buy DDG ??

DDG doesn't look very liquid, only 9,111 shares traded daily. Try shorting OIL

What’s wrong with DIG/DUG or juicy ERX/ERY ?
PS: wavy: could u please remind me why we watch hong kong hang seng instead of singapore?

I suppose because the world relies on exports from Hong Kong, Singapore is much less correlated to the world's financial markets.

[uempel]

I'm off, bye guys.

[99er]

Did you say baloney?
YM http://99ercharts.blogspot.com/2011/11/ym_2828.html

I'll take it.

[pady]

Does it allow shorting of "Fidelity" Do you have paperwork in to short for your account. I can short OIL at scott.

They have a separate charge if I request to short shares they dont have. I didnt find out what it would cost.

[EFA]

It's intriguing that after this parabolic move there is no profit taking before the weekend.

not the time yet, watch the last 30 minutes.

Would it be premature to buy TZA at this level? Thank you for your answer Cobra!

[Cobra]

It's intriguing that after this parabolic move there is no profit taking before the weekend.

not the time yet, watch the last 30 minutes.

Would it be premature to buy TZA at this level? Thank you for your answer Cobra!

I see no reason to short now.

[xfradnex]

FYI -GTIV got a double downgrade to junk today at 1:00pm by Moodys. But still up big today, but sagging. There have been Insider buys at 3.90 to support the falling stock a couple of days ago. currently at 5.40.

[Al_Dente]

You may have noticed that I’m flat (and bored) soooo… cut/paste a bit of history (to read later)
What is the origin of our modern financial system?
You can trace it back to The Bretton Woods Agreements circa 1944, near the end of the war.
Representatives from 44 nations gathered in Bretton Woods, New Hampshire, to flesh out the details of a new post-war “world order”. THE UNITED STATES HELD ALL THE CARDS. We were the only country that still had “money,” and one of the only major nations that wasn’t blown to smithereens during the war. So obviously, the agreements we drafted were radically skewed in our favor. (The competing British plan was written by none other than John Maynard Keynes for Churchill). Among other “agreements”, we established the US dollar as the “fiat currency” (originally backed by gold; now backed only by “debt”), set up the system of fixed exchange rates “pegged” to the US dollar, and established the IMF and the World Bank, which today are the last two surviving relics of Bretton Woods (albeit the WB is in a revised form).

The Russian delegation DID NOT SIGN the agreements. Over the last decade+, as the ex-eastern-bloc nations gradually de-classified their war documents, the “truth” was revealed. Turns out the key Russian delegate had NEVER IN HIS ENTIRE LIFETIME CAREER been in an arena where honest discussion and open argument took place. He reported back to the Kremlin (Stalin), essentially, that the Bretton Woods delegates couldn’t even decide on lunch, and any of their “agreements” were guaranteed to fail. From that moment on, Russia veered off into their own financial system, and never participated in ours…

But things are changing… and Gorilla China is now at the center of the picture, as the new boss in our little global town.
http://www.youtube.com/watch?v=gbO2_077ixs

[Caveat: the above is in “story” form; details have been seriously truncated]

[vats]

Those who have that philosophy, "trade what you see", check out RIMM, currently up 6.7%

I don't see news on RIMM.

Hi Petsamo,

Someone ( I forget the name) bought 14 million shares yesterday at the close, so that could be the reason. I have been long RIMM at 18.30.

[uempel]

Very last chart...

[Petsamo]

Those who have that philosophy, "trade what you see", check out RIMM, currently up 6.7%

I don't see news on RIMM.

Hi Petsamo,

Someone ( I forget the name) bought 14 million shares yesterday at the close, so that could be the reason. I have been long RIMM at 18.30.

Awesome !!

[Al_Dente]

It's intriguing that after this parabolic move there is no profit taking before the weekend.

not the time yet, watch the last 30 minutes.

Would it be premature to buy TZA at this level? Thank you for your answer Cobra!

I see no reason to short now.

WOW, gotta love that, even "old" Al can read between those lines...

[ddd]

It's intriguing that after this parabolic move there is no profit taking before the weekend.

not the time yet, watch the last 30 minutes.

Would it be premature to buy TZA at this level? Thank you for your answer Cobra!

Trying not to foul-start in either direction at this point.

[Richarab]

join me in Trader Vix. drinks half off. do you really think that VIX is going to drop off hard? i simply cant believe that...but.....

[knock]

Very last chart...

x.png

great chart. let's wait for the moment of truth.

[ddd]

Those who have that philosophy, "trade what you see", check out RIMM, currently up 6.7%

I don't see news on RIMM.

Hi Petsamo,

Someone ( I forget the name) bought 14 million shares yesterday at the close, so that could be the reason.

A possible insider-trading target?

[knock]

join me in Trader Vix. drinks half off. do you really think that VIX is going to drop off hard? i simply cant believe that...but.....

joined the gang in the early morning and witnessed the stubborn of VIX. Will expand the gang when the signal is clear at 2:45 or so

[Cobra]

another test on the upside, should have a breakout now.