11/15/2011 Intraday Watering

[hutongerchuanzi]

Updates

Gold http://99ercharts.blogspot.com/2011/11/gold_15.html
Silver http://99ercharts.blogspot.com/2011/11/silver_15.html

based on your chart, what's your view on gold now? thanks

[cougar]

NOW: Breakout from wedges!

Very clear for IWM …and less clear for SPY where it is still inside a descending Regression Channel

This is what I mean:

[hutongerchuanzi]

Edge worked perfectly for a long:

nice chart, thanks, are you a Mathematician?

[waverider]

buying a pullback... If there is one lol

[Petsamo]

Anyone paying attention to RIMM ? Wow !
Sometimes I set it up so I can't sell for a few days because I so frequently screw it up. I can sell my RIMM tomorrow.

[tdo722]

What would incur the most damage to trader psyche here is to do a false breakdown of the triangle and then rally

Or the other way around, breakout to 1285 then massive down turn to 1155.

That would put a lot of bulls into suicide mode. Stay neutral my friends.

[jarbo456]

dollar really hasn't weakened all that much has it?

[uempel]

This was a typical Wallstreet set-up: bear trap with break of DMA 20 to the downside and then a strong rebound. Interesting that this combination of Fuzzy and Gann was not fooled. Overhead resistance at the faint blue gridlines and at the red horizontals.

[Cobra]

another volume surge on biggest bar, so hopefully a pullback of some kind here.

[Richarab]

god damn Trader Vix....there's that low archway to the bathroom... *OUCH*

[SB73]

This is why you take profits on the bear side as soon as you get them...

[agnosia]

another volume surge on biggest bar, so hopefully a pullback of some kind here.

there will be no pullback , it's time to decimate the bears full on boys!!!!!!!!!!!!!

[soku]

wow $$$ too strong, causing gold sink with equity. es 1242-1245 is important. bull has to defend harder.

res ahead 1246 vwap, 1251-1253. higher than 50%: es stay in 1242-1252 for the rest of the day. if break out (could be a faked bo) odds in favor of upside, imho

me exit at 1253.25, as planed. now i need to think of to go to bed or not

[Cobra]

the push up is strong, so at least it should be a 2 legged up. this is the 1st leg up.

[99er]

My bad. Missed the pop...
SPX http://99ercharts.blogspot.com/2011/11/spx_8414.html

The set-up was there though; here, a la EW.

[agnosia]

unless this is evil plan, trap bears with a lower low in the mid range then trap bulls with a higher high out of the range? could be , it's opex week.

[stockcycle]

Seems SPX is still in range trading for a while. Prices are limited by the slants of the pennant/triangles. Because the range is becoming narrower and narrower, I think bear safely counts to 2 to close their positions.

My game setting for bears who opened position yesterday was not bad .

[agnosia]

unless this is evil plan, trap bears with a lower low in the mid range then trap bulls with a higher high out of the range? could be , it's opex week.

yes i am going with this. short ..es 1255 , stop hod. short crude 99.20, stop HOD.

confidence in this trade? 50/50

[99er]

hutongerchuanzi

Gold appears to have reached the Wolfe Wave target up (in blue) and may now reverse down to another WW target lower (in purple). If and when prices approach channel lines up, I'll become concerned. Long-term, I remain bullish.

[soku]

u see what i see? perfect scenario would be go to 1260ish then drop to 1242. now up side a little bit shy. maybe we go back to 1246-1247?