02/03/2012 Intraday Watering

[57chevy]

Not that there is any logic remaining, but this would be a logical spot to turn from based on trendlines:

Given the strength of today's move, one might consider the possibility of this being a 3rd of a 3rd wave (within a 5th of a 3rd). Here's a chart to put my view in some Elliott Wave perspective:

[springheel_jack]

bull or bear count? either way this wave appears to be on its last leg.

Do I have you confused with the individual who left one forum where I read you were posting bullish opinions on one site, and bearish on another site? Sorry to ask, but I like to know what I'm looking at and from whom and if I have you confused with someone else who has "alpha" in his name I apologize. This individual went on to sell a pricey service.

Well alphahorn has a subscription service that is more expensive than most. I've never heard the story you refer to though.

FWIW I've known him for years and I think he's one of the best trader/analysts that I've seen.

Where's that quote from? It wasn't from the thread today as far as I can see.

[SB73]

Initiated a short position $134.32 stop-loss $134.5

consolidation here does no good for bears. don't fight.

Totally agree...this one statement has already saved me thousands.

Petsamo,

I dumped UNG with a break even. If this were breaking out I would have expected more today.

If you are going to do it keep tight stops which it appears you have done. Money is there for the counter trend, but must be managed.

[BullBear52x]

Check this out, if you got kill shorting here, you are dead in style.....

[Me XMan]

Gov't and WS have to pull all out stops for the final push to get consumers going
If this doesn't move the needle then we'll all be in trouble.

1.2 million people dropped out of the labor force in one month!

I think not, we have become the old Soviet Union regarding propaganda

And along with shinking the labor pool, they also just make "errors" as shown by Zero Hedge:

[Me XMan]

I don't understand the chart. Can you explain?

Check this out, if you got kill shorting here, you are dead in style.....

[SWalsh]

1.2 million people dropped out of the labor force in one month!

I think not, we have become the old Soviet Union regarding propaganda

And along with shrinking the labor pool, they also just make "errors" as shown by Zero Hedge:

My economics professor friend sent me a note that he will be using today's unemployment release data to tell his students that if they are unable to take numbers and reach conclusions that are false, but seem to be legitimate to the general public, they will never succeed in the private sector as an economist.

HFT Guy says his calculations say this can't hold up here....he has been wrong before:

[Sleeperz]

The Fed's Dirty Little Secret - QE3 is Already Here

http://finance.yahoo.com/news/The-Fed-D ... 1.html?x=0

The Fed telling us there is no QE3 is like a vegetarian eating short-rib ravioli or pork eggrolls. Just because you can't 'see' meat doesn't mean it's not there.

True, there is no QE3 (yet) in the form of QE1 or QE2. QE stands for quantitative easing and quantitative easing happens when a central bank buys financial assets to inject money into the economy.

Even though it's not called QE3, the Fed is right now making billions of dollars available to buy financial instruments. We're not talking about Operation Twist here; we're talking about a covert operation that's essentially a U.S. bailout of Europe.

Re: 02/03/2012 Intraday Watering

by stevej » Fri Feb 03, 2012 10:11 am
I feel like last bear; shot and soon to br dead. Maybe that is good for me?? What about QE3 now??

[Petsamo]

I dumped UNG with a break even. If this were breaking out I would have expected more today.

I'm hoping UNG's double bottom is good for a few days.

[TraderGirl]

I think they know I shorted this one ouch! gap up pass both critical fan line, a little more room to the up side if that's where they have in mind.

BB, I have a perfect tag...

Nice, hedging along, most call options were up >50%, cheap insurance. I see more extreme in many indicators something got to give.

I agree, the market only falls when nobody is protected, when everyone is "all in". If you look at the VIX in the last 20 years, when it hit this level there was a pullback of some sort - catching everyone off guard. I had a turn date of Jan 6th (+/- 3 days) for silver, today silver is pulling back. Don't know how long it will last, I guess as long as dollar finds support. There is a turn date for the market Jan 10th, could start to roll over soon...

http://evilspeculator.com/?p=26895

[waverider]

Just chilling at trader vix for the moment, now above VWAP and the open. /ZB support, DX support.

[Me XMan]

You've gotta give up on UNG. It's POS!

I dumped UNG with a break even. If this were breaking out I would have expected more today.

I'm hoping UNG's double bottom is good for a few days.

[trendfollower]

If you like math an interesting way to trade stocks:

http://goo.gl/7hn7e

[Al_Dente]

I think all the volatility measures hit fresh lows, but best double check me
http://stockcharts.com/h-sc/ui?s=$VIX&p ... listNum=15

Tradergirl, GREAT re backtest wedge…also uup…thx

[stlwater]

No, not until a divergence is confirmed.

Check this out, if you got kill shorting here, you are dead in style.....

[Unique]

If the good news on jobs is false when the analyses is done (per zerohedge), when will the rally balloon pop? http://www.zerohedge.com/news/record-12 ... e-tumbles-

It's election year, obviously they gonna rigg it.

*I'm not an economist, maybe I'm missing something

Fed Reserve keeps lowering GDP, yet unemployment goes down...

[BullBear52x]

Check yr 1 min volume
GIANT vol spike, bots are buying this at the moment

...so you suggested we jump in with the bots?

Suggesting nada Baron, just a note as to WHO is doing the buying....New low VIX (?)...All we can do is follow our rules…….and Cobra……

I hear ya, daytrade and leave 30% open position on the evil side should pay out soon, no later then end of next week, right now I got intraday sell, trade below 134.19 I am selling, just another move different day.

Baron I got the overextended (or sell) signal too, but gotta follow my rules
Just me:
dont trade against the AD, most especially when >2000 skew
Caution against an onslaught of bots (bots quite active this morn)
etc etc
I wish we had an “internal” that showed how many of the “buy” orders were “buy to cover shorts” but then
I guess we already have that in 5 min candlestick green spike views….
Caveat: as u well kno I am trend follow, sheep, sheeple…
I’m just glad when I hear u are SMALL w very tight stops
I luv u

Thanks Dr.Al, if anyone here can survive this market over 10+ years (time 5 on your belt), one should see enough ups and downs and should have lots of respect to the trend, counter trend is the reason most of us here.

[Petsamo]

You've gotta give up on UNG. It's POS!

If you're not short UNG, you have no credibility!

[Me XMan]

Ya look at that chart and go long.
Maybe this NRGY can give you some hope.

You've gotta give up on UNG. It's POS!

If you're not short UNG, you have no credibility!

[TraderGirl]

Check this out, if you got kill shorting here, you are dead in style.....

Nice chart BB...