12/06/2011 Intraday Watering

[rhight]

Holding anything positions?

not good looking at es here.

EDZ and TZA

Bought SDS at SPX 200DMA 1264. Placed stop above down trend from July highs (~1275). Was hoping for a decisive move down so that the 60 min. stochastic would reach oversold. Very skittish about holding shorts with as much political and central bank interference in the markets as there is. Since the market is not making a decisive move, I've dropped my stop down to above 1260 so if the market moves up, I'll stop out for a small gain, and re-enter on the short side on strength. Would only enter long now with a good pull back, maybe to the 20 DMA. That my strategy. BTW, don't usually sell resistance/buy support, this is a discretionary trade, my system has NOT given me a sell/short signal yet, hence my caution.

[BullBear52x]

Looking like a triangle and then zooming up.

Why EDZ? EEM is weakest link it is. can't turn here, down we go.

Continuation no? 20/80% deal.

[fehro]

not the cleanest pattern... if we turn down near 1261.. and don't head up to 1270

[jimme]

SPY prints a higher high and now will leave the building using the back door.

Yo Jimme, which SPY are u watching?
PS: U see Cobra’s mechanical portfolio last night?
“The system will try to short gold … [today]. Set DZZ buy stop at $4.65, stop loss around $4.30”

Hi Al
Yesterdays high at 3 PM on the 5 min!!! I need to start somewhere..

[BullBear52x]

Here is another look at EEM, daily here, not so fresh is it?

[quientuves]

I'm still playing with this chart and that blue fork... I didn't see this idea anywhere else, but seems like it has more meat than I expected...

[Me XMan]

We have ignition Capitan Cobra?

Could that impulse system be right?

[Alpha_M]

Cobra,

Great report last night. Dosent look like we are going to make a higher high (based on your report last night) since today is most likely going to be a range day. Would this give us confirmation to short? Please advice. Thanks.

[SB73]

Folks please do not look at the $DAX...stay long. We are flying solo here.

[quientuves]

The chart cames cut. Please, take a look at it here, and tell me if i'm wrong

http://i.imgur.com/1Cw44.jpg

[Me XMan]

Where has 99ER gone?

[BullBear52x]

The chart cames cut. Please, take a look at it here, and tell me if i'm wrong

http://i.imgur.com/1Cw44.jpg

everyone here agreed not bearish in trending wise, counter trending here, and Cobra still betting on IHS, he should have the target out right now.

[jimme]

Al, I should be short GLD, but am short SPY with SDS. Some from last week! Cobra is always correct and never frontruns like jimme. I will be buying GLD at 161, like I said 2 weeks ago and I think at that time break up and out of the tri it is in. At that time /DX will be at $80.43. Carry on my friend!jimme: )))

[soku]

I'm sure most people read Tom Demark's prediction yesterday for the SPX to reach 1330 before Christmas, peaking
around December 21st (or after 4 consecutive up days).

Something interesting, since early December, SPY has bounced off of the middle Keltner channel and went
back to the upper band, 4 times (circled on chart). Same thing happened yesterday. There is no economic data to prevent the
SPY from going up today.

However, I'm neutral ( I have no idea what's going to happen).

As we continue to watch paint dry, the middle Keltner band is around $ 125.55.

can u post link?

[dumamay]

Where has 99ER gone?

Christmas shopping

[fehro]

could be a little bear flag only if we turn down here

[cougar]

Internals
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =250028427

“Cyber Week (…ending December 2) reached a record total of nearly $6 billion… In addition to Cyber Monday, which became the heaviest online spending day on record at $1.25 billion, two other days broke the billion-dollar mark in spending…”
http://www.auctionbytes.com/cab/abn/y11/m12/i05/s05

PAGING COUGAR, thanks for slv… but I still don’t understand how to use pall……
Yo cougie: no pants alert (parental advisory) http://www.youtube.com/watch?v=yoajdUEYBIE&ob=av3e

Hey AL!
PALL chart shows:
- strong and confirmed resistance at the “magenta triangle”. 2 shorts there were OK!
- right now, some positive sentiment, but still gyrating in “no man’s land”: no trade…

But PALL remains the metal of the future…If Gartman and the Fast Money turkeys represent the knowledge of the pit-traders on the catalytic properties of palladium, we will still have to wait for some time…
BTW: have you seen palladium-made modern jewelry? Your girlfriends might fall in love with them…Vienna is their center…LOL!

[67Chevy]

For those who don't Read Schaeffer's Daily Report they are recommending shorting FSLR for a move to 37. This could be a good one. Later

Thanks Kena, FSLR chart is looking weak. Watching NFLX also for a short...

[SB73]

Folks please do not look at the $DAX...stay long. We are flying solo here.

bulls using too much ammo in this gunfight.

[newbie_77]

looks like we will at least try to test yesterday's high... (127.18 right ? )