12/13/2011 Intraday Watering

[jarbo456]

large divergence in FXE and broader equity market.

[Mongoose]

In the spirit of the Santa Rally -- extremely funny.. .
and in 3 parts

Blackadder Christmas Carol
http://www.youtube.com/watch?v=xJX8coNc2J8
http://www.youtube.com/watch?v=qwOckfTk ... re=related
http://www.youtube.com/watch?v=ON2LAtJ3 ... re=related

[BullBear52x]

I did my sniffing again, yeap bull trap, I can smell it in the air.

[heavenskrow]

From a different perspective, SPX looks like a rising channel

[Cobra]

Cobra 2 legged sell off?

so far it looks so. the rebound shall fail.

Hi Cobra,
We are at mid-day now. What is your assessment, Is it a 1-2-3 trend change or bull case?
Thanks,

no idea yet.

[Cobra]

Cobra, does the vix seem like an reversal bar to you? Tmr is vix futures settlement, any significance?

let's wait for the close. Maybe we shouldn't read too much into VIX right now.

[CognitiveDissonance]

Cobra, does the vix seem like an reversal bar to you? Tmr is vix futures settlement, any significance?

let's wait for the close. Maybe we shouldn't read too much into VIX right now.

Vix options expire on 12/21 and the vix typically goes into backwardation at this point in the month, not to mention that it's stuck under resistance in all time frames on the chart I posted yesterday. If spx breaks down 1220 then vix will definitely be back in action, if spx breaks through 1260 then I'm not touching it until next spring.

FWIW

[bullybear]

I did my sniffing again, yeap bull trap, I can smell it in the air.

You one VERY smart trader

Vix says santa's coming but nobody cares anymore
We thought we go to 1360 but now we stuck on 200dma
Do we jump or cry? Maybe we do both at same time
Food for thought: Pbars indicate MM picking off buy orders -- what will happen when pbar level reached and no more buy orders
After cry is over, ramp job is still ramp job and bull trap is still bull trap

[attachment=0]bull trap.jpg[/attachment

[Cobra]

resistance and L1 short. I'm not sure this L1 short though.

[chocobee]

I did my sniffing again, yeap bull trap, I can smell it in the air.

OK you convinced me. I am taking profits on my TNA and FAS here (bought way too much). What is your short entry target?

[99er]

Updates

RUT http://99ercharts.blogspot.com/2011/12/rut_13.html
TNX http://99ercharts.blogspot.com/2011/12/tnx_13.html

[BullBear52x]

I did my sniffing again, yeap bull trap, I can smell it in the air.

OK you convinced me. I am taking profits on my TNA and FAS here (bought way too much). What is your short entry target?

EDZ filled at 20.5490

[hemlock21]

Sorry to have to ask, can someone tell me what L1 is? Having trouble finding the area on the site that has the glosarry. Thanks

[SB73]

I did my sniffing again, yeap bull trap, I can smell it in the air.

OK you convinced me. I am taking profits on my TNA and FAS here (bought way too much). What is your short entry target?

Mine is 124 on SPY...waiting for the 2nd leg down to kick off.

[jarbo456]

maybe i'm just too bearishly biased, but i'm seeing NO confirmation of this rebound in the FX market.

[uempel]

Update:

[chocobee]

I did my sniffing again, yeap bull trap, I can smell it in the air.

OK you convinced me. I am taking profits on my TNA and FAS here (bought way too much). What is your short entry target?

EDZ filled at 20.5490

Thanks. Bought 1000 shares at 20.57

[chocobee]

I did my sniffing again, yeap bull trap, I can smell it in the air.

OK you convinced me. I am taking profits on my TNA and FAS here (bought way too much). What is your short entry target?

Mine is 124 on SPY...waiting for the 2nd leg down to kick off.

Are you shorting SPY or sellng call or buying puts?

[Anaconda]

125.50 is the new p-bar target, apparently. Someone (or something) is signalling the hell out of this target area. Bots? Who knows. Bottom line: p-bars are predictably accurate more often than not.

Bought put options on SDS.
A.

[dcurban1]

Depends on a couple of items. The Greek debt negotiations are making progress but a lot of PMI's are showing negative growth across Europe.

We could correct in the first quarter before all the bad news hits later in the year.