01/23/2012 Intraday Watering

[BullTart]

LOL!!!!

What are we, stupid? There goes that 3pm buy program again.

Maybe making money really is that stupidly simple.

Now watch the buy program fade a little, and then ramp into the close.

Easier than flipping burgers at McD?

[Buckethead]

been a tough past 6 trading days for me, trading with a short bias my largest p&l drawdown in 3 months. i have seen many short term and intermediary top patterns in past, this fits into the late 2010 mold. my guess is we will have a new high tuesday. wednesday afternoon we peak and weak into the close. however, my sentiment guage along with the world election year is beginning to believe that in this politically charged mini-bull year, pullbacks must be bought and the reward/risk is skewed in favor of this strategy vs. shorting overbought conditions going forward. lot of top picking sentiment out there. Good luck everyone and trade carefully.

[BullBear52x]

here's my buy/sell line, anyways, who put stop loss up here, raise your hand bears.....

[Mr. T]

Germany is open to boosting the firepower of the eurozone’s rescue funds to €750bn in exchange for strict budget rules favoured by Berlin in a new fiscal compact for all members of the currency union.

Why can't Germany instead say "screw you EU, we're bringing back the mark".

After that you'd see the rest of the EU change it's tune.

[Al_Dente]

Check it- history of NegD on the RSI in the VIX daily...
We are building one up right now. Doesn't happen too frequently... one of those 2-3 times a year event.
Just sayin' ... protection is dirt cheap given the context of the situation.

HI BULLTART...Please clarify did u mean neg diverg or pos diverg on RSI daily? thx

...I meant PosD not NegD... my bad for the typo. ....
It's pretty clear on the charts what we are setting up for.

got it thanks, that’s what I’m getting on intraday but I didn’t realize it was showing up on daily until u shared that one (nice chart btw)
…..might ….take …..a bit…..to play….out??????
PS: how’s the swan?

Miss Etta James: Welcome to the Jungle: http://www.youtube.com/watch?feature=en ... OS5tEfDLKc

[SWalsh]

14:57...TWO MASSIVE HFT QUOTE STUFFS!

This is criminal. I've gone to funerals of young men who died for this country for this crap. It makes me sick. This is almost assuredly with Fed involvement.

[99er]

Update

SPX http://www.99ercharts.com/archives/361

So what's for lunch?

[BullBear52x]

Thanks Cobra and everyone, I am done before they chop me in pieces, live to fight another day. net short into the night.

TA note: trades below 131 will technically marked my first LL today. I don't see a ramp job into close the selling this morning scare a lot of buyers already. GLTA.

[TWT]

SPX: Indecision moment Ending Diagonal or H&S ?

[Al_Dente]

Legendary Joe Granville on Bloomberg now

[dr659]

Update

SPX http://www.99ercharts.com/archives/361

So what's for lunch?

Lunch? Its allmost Happy Hour

[Travelfrog]

Paging suku

got your weekend indicator on test, I name it suku, seems to work better on 5min then 15 as suggested.

Paging SOKU or BullBear52x. I converted your indicator for Prorealtime but seems to have lost something in translation. Do you think you could take a look at the code? Seems to be too low, histogram always below 1? 0.583 etc.

Code: Select all

Period1 = 5
Period2 = 3
Period3 = 9

NetChgAvg = WilderAverage[14]( TypicalPrice - (TypicalPrice[1]) )
TotChgAvg = WilderAverage[14]( ABS( TypicalPrice - (TypicalPrice[1]) ) )

IF TotChgAvg <> 0 THEN
	ChgRatio = NetChgAvg / TotChgAvg
ELSE
	ChgRatio = 0
ENDIF

RSIx  = 5 * (ChgRatio + 1)
OverSold = 30
OverBought = 70

ExpRSI = ExponentialAverage[Period1](RSIx)
ExpAvrgRSI = ExponentialAverage[Period2](ExpRSI)
SMAExpAvrgRSI = Average[Period3](ExpAvrgRSI)

DivG = ExpAvrgRSI - SMAExpAvrgRSI

RETURN DivG,OverBought,OverSold

[Al_Dente]

THEY ONLY GAVE OLD JOE 4 MINUTES….
Joe used to move markets with his calls… (old days only, he was also run out of town a few times in his career).
Then the anchors commenced backing and filling and fumbling on his Armageddon call for the year….

Etta James with Chuck Berry (Keith Richards on guitar) live...http://www.youtube.com/watch?v=QZoclbefgak

[Petsamo]

Unless this ship sinks, we're looking at a gap up tomorrow

[BullTart]

I think we just saw the selling climax on put prices... perhaps a washout sell event.

On the TVIX, I see a volume spike and panic sell. Exactly what I've been waiting for.

Added more long TVIX, now fully loaded. Let's see what happens the next two days.

VIX may have bottomed, ETNs of VIX like TVIX may have more downside, maybe even one more panic sell event, but willing to eat the loss to see if I can catch the turn and ring in another great trade for 2012.

[SWalsh]

THEY ONLY GAVE OLD JOE 4 MINUTES….
Joe used to move markets with his calls… (old days only, he was also run out of town a few times in his career).
Then the anchors commenced backing and filling and fumbling on his Armageddon call for the year….

"It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to heaven, we were all going direct the other way - in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only."

P.S. There was talk today of government involvement in 401K plans.

[SB73]

If Cobra were here I think he would say "key time for the bulls, testing morning high, failure not allowed"

Bulls have 7 gaps up of > 1% since last bear gap down of > 1%. Largest streak prior to that cannot be found since 2000.

Risk of a significant gap favors the bears IMO.

Disclosure neutral right now.

[SWalsh]

Risk of a significant gap favors the bears IMO.

It's like Kevin Kostner in "The Postman" just rode into town

[tdo722]

God damn bulls. $131.60 was resistance and now it is support. They turn things around so easy.

[Al_Dente]

$VIX low on day (?)

Etta James…..http://www.youtube.com/watch?v=lMjaVkxn ... re=related