01/13/2012 Intraday Watering

[BullBear52x]

sell the rally yes, buy the dip no from this point see?

[KeiZai]

Master cougars words:

”… Well, there might be a small bull trap, but it’ll be included in a huge bear trap…Can you trade them both and stay above the water? Little contrarian bears listen to the talking heads discussing whether QE3 is coming or not…but QE3 IS ALREADY HERE and this is the secret of Punchinello ! Watch what will happen at the end of next week, while Tim will be in China, right before the weekly OpEx…I wish you good luck!”

[BullBear52x]

As I see it, now we are out of over sold area, sell as you please until TOP above 5dma.

Thanks Cobra and everyone have a good long weekend.

[TWT]

ENJOY THE LONG WEEKEND EVERYONE

[Al_Dente]

I don't know we have the same time frame but this is 5 min. under 5 dma, this is not like buying the dip when it trade above hmm...

baron, is 390/5min your equivalent to 5/daily?

[SWalsh]

="dcurban1That is the frustrating part for the shorts who are needed for effective capital markets.

Of course the more you push it higher the larger the eventual fall.

I had a long discussion with a friend of mine who is 20 years younger and teaches Econimics with a PhD from a top school. He has followed the mkts for years. He makes a great case that fundamentally, the S&P can't support a price that is 50% of this level.

It's late in the day so I'll just toss this out as we talked of it:

Municipalities hold 35-50% of assets in US stocks. If the mkt goes to its true level pensions will be cut/eliminated, benefits will be decreased/end, and we will be on the brink of civil war. He added that he can even understand the government trying to keep the mkt up based on that alone. It is the building of oligarchs that now control the market place that he states (as he teaches a class on booms and busts in history) that has ultimately ruined economies. Plus, everyone loves a bull mkt, so when HFT enters a mkt they put it up to draw in investors. A commidity concern wrote to the CFTC asking them to be declared unfit to trade as they stuff oders, which is illegal, and are "parasites only".

A great read is online in the may 2009 Atlantic Monthly; "The Quiet Coup" by 2007-2008 IMF head Simon Johnson. He said if we build oligarchs, which he urged us not to do, we greatly increase the odds of a financial collapse. I have heard him speak, as well as Nasim Taleb (The Black Swan) both pointing out the dangers we still have from no solutions being worked on in the system. With public volume drying up they can no longer hide the manipulation. This watching HFTAlert has been eye-opening as they systemnatically break classic TA patterns.

Biggest hit of the day was at 15:45 - 800 stocks hit with quotes. And it was all alone. No smaller ones before or after. My personal opinion is that is the Fed, although the author of the program does not believe they are in the market. I refered him to Oct 10, 2008 and asked who gave us the biggest mkt increase in history, E.F. Hutton? (I know they aren't around anymore).

[SB73]

sell the rally yes, buy the dip no from this point see?

totally agree. I really like at 1240 to 1260 target then we shall see from there

[taggard]

Semi's are weaker than the rest of the market, can sometimes lead on the downside and lag on the upside...

very nice point and intc reports next week--stock messing around towards/with options clusters. (eg not looking good right now) sigh. . i remember when smh and semis used to lead on the upside but yeah see your point. another issue notice that various people are giving up on puts--and there is a great deal of comment on how strong things are (right now).

[Cobra]

OK, poll time, let's see how many of you think the top was in. viewtopic.php?f=9&t=424

[Petsamo]

It's looking like a gap down Tuesday, fellas

[SB73]

OK, poll time, let's see how many of you think the top was in. viewtopic.php?f=9&t=424

Please don't jinx it by show on the retailers bearish. I know Dr Al, bull bear, stucap, jarbo and I think it is in and I get the feeling Cobra. Le me just say though that we could very easily have yet another retest.

[jarbo456]

who's holding short over the weekend? i'm forced to with the 10 handle recovery in /ES. i would've liked to have held HALF of the position i'm in right now.

as i send this...AUD/JPY is making another intraday high. amazing.

[Cobra]

well, guess that's it for today. As I said before, with Normalized CPC this low, I don't think the market has much room left on the upside even today turns out to be a bear trap. We'll see. Thank you guys, I'll see you THE NEXT TUESDAY!

[jarbo456]

HAHA. who just saw that spike?

[taggard]

who's holding short over the weekend? i'm forced to with the 10 handle recovery in /ES. i would've liked to have held HALF of the position i'm in right now.

me but it doesn't count since my stuff is late jan early feb in nature (nymo idea)

[BullBear52x]

I don't know we have the same time frame but this is 5 min. under 5 dma, this is not like buying the dip when it trade above hmm...

baron, is 390/5min your equivalent to 5/daily?

You pay attention to my chart Dr. Al. sharp eyes. the answer is "Yes"

[jarbo456]

total, unadulterated, unmasked spike to stops going on right now...

love it. fucking scavengers.

[newbie_77]

i did.. they are closing above 129 on SPY to screw 129 call holders... with a big gap down on tuesday.

HAHA. who just saw that spike?

[SB73]

HAHA. who just saw that spike?

What the hell was that spike all about? Wait until there is no liquidity and buy 5 shares????

[SigmaEcho]

well, guess that's it for today. As I said before, with Normalized CPC this low, I don't think the market has much room left on the upside even today turns out to be a bear trap. We'll see. Thank you guys, I'll see you THE NEXT TUESDAY!

cobra do you think a correction in time is a possibility? republicans have lots of friends in wallstreet. the up trend can remain quite a while (untill elections).