12/20/2011 Intraday Watering

[StrikePrice]

I love getting to sleep in because the market already gave me the buy signal. Positive D on ISEE was a confirmation to my signal and the /ES moving back above 1,206 had me turning off the alarm. Clear 21 waves down for EW fans which me know creates a great trade point with at minimum 2 waves up. I seriously don't think the Bears can extend this drop to 34 waves so with the trend line broken I am fully long and will buy the dips. I hope no one gets run over by the reindeer.

[waverider]

Wow, /cl filling the gap all the way to the 98 area.

was just going to say that. it's on FIRE.

Did you get out @ 95 and start buying dips or hold from there? Either way your probably well in the money by now.

[cougar]

EDC (60 min) had a nice gap up, followed by a first round of shorts covering.
If it will take the resistance at 72.75 it could breakout. This should make it good for a swing.

[taggard]

Lucky I covered half yesterday. Now wait 1hr and see with this big gap up.

Stops got ran while I was sleeping, still made some money...what can I say. Overnight market is a roll the dice situation. We now have 4 straight gaps higher.

I guess I should be paying attention 4 straight gaps higher should be roll with loaded dice

it is a very delicate balance being firm enough to hold over night and not holding too long. also some of your points--such as nobody is short they are all looking for the claws rally--were valid (using put call data yesterday in any case). also i think it was you (could be wrong) that suggested that the move down should end with a gap down that gets bot. that seemed right and confirmed the idea of the "nobody is short thing".

the only thing working against all this is the idea that trading is thin--and it's to almost everyone's advantage to get the year to "at least break even".

i have no clue if they do or not--i do have oversold on my stuff which works into early jan. what i get out of this is the idea "they have to try" more than "this is what happens".

also the news flow was amazing--now they are talking about china (finally) and the euro dudes are thrashing. very short term the negative attitude stuff was insane--i cannot explain why this existed in addition to the put/call data which was not ideal.

nice effort--enjoyed watching and learning from you.


http://lasertrader.wordpress.com/2011/1 ... -think-so/

[KENA]

SWI broke out and may be a good trade.It has had a good pboh and is close to the bottom of the up channel.A stop on the dn side would be 28.50.This would be a swing trade to 33.00+.Watch it.

[uempel]

Red ellipse on weekly shows that SPX can run up to 1250 without having to struggle with too much resistance. A break of 1250 before Friday's close would be quite remarkable..

[Eagle_Eye]

Lucky I covered half yesterday. Now wait 1hr and see with this big gap up.

TNA up 6.5% from yesterday's purchase at the close. I don't want to say "I told you" but....santa is here.

Same exact pattern over the last month as March - April - and in mid April up up and away.

My chart from Thursday:

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=1

hehehe great job man. not many people had balls like you to go long yesterday... though I was lucky enough to cover yesterday. =]

Thanks - 10% now. Glad you covered. That chart I posted is proving an identical pattern. I will close all longs when it diverges.

[99er]

Updates

RUT http://99ercharts.blogspot.com/2011/12/rut_20.html
TNX http://99ercharts.blogspot.com/2011/12/tnx_20.html

[GreedyKojiro]

Today's price actions remind me of Nov 28

[Petsamo]

We haven't had an all-day rally in seven days. So, I guess it's time for us to have one?

[Me XMan]

SPX hitting 1231 resistance ?

[jarbo456]

SPX hitting 1231 resistance ?

SPX? or you mean /ES?

[keesa]

SPX hitting 1231 resistance ?

SPX1230 is support now

[Me XMan]

Correct. /ES

SPX hitting 1231 resistance ?

SPX? or you mean /ES?

[waverider]

SPX hitting 1231 resistance ?

SPX? or you mean /ES?

It's just a pivot, I wouldn't short here it's too strong

[keesa]

Correct. /ES

SPX hitting 1231 resistance ?

SPX? or you mean /ES?

1250 ES resistance

[pady]

I love getting to sleep in because the market already gave me the buy signal. Positive D on ISEE was a confirmation to my signal and the /ES moving back above 1,206 had me turning off the alarm. Clear 21 waves down for EW fans which me know creates a great trade point with at minimum 2 waves up. I seriously don't think the Bears can extend this drop to 34 waves so with the trend line broken I am fully long and will buy the dips. I hope no one gets run over by the reindeer.

@Strike,

Good work. How do you count waves ? I mean, i look at your chart and sometimes i can see an wave or two extra ( between 8 and 13 for example ). Thanks

[CognitiveDissonance]

and the VIX dropped....

why buy a new car this week when the next model is selling on Monday?

[johnnywa]

Updates

RUT http://99ercharts.blogspot.com/2011/12/rut_20.html
TNX http://99ercharts.blogspot.com/2011/12/tnx_20.html

You got butterfies in your Gondola?

[L_T]

Everybody wants what this guy is handing out today.