02/08/2012 Intraday Watering

[Cobra]

bounce from support. nothing to say, let's watch.

[TWT]

SPX: The ED is still valid

[Petsamo]

IWM leading the way down

[soku]

es need to drop below 1343-44 to be tradable
not sure why it is dropping. could be s&p talking about US rating

SPY 134.64 is what I am eyeing

when can this happen? 4 point range is so damn boring. even my noise trading bot cannot get anything

[TraderGirl]

Today, the morning dip buyers will get burned, and so shall start what will at least be a short term pullback.

Here is one of my 'looks'...

TVIX leading the way, TZA trailing.

AGQ leading the way down, SPY trailing. AGQ = hot money, so SPY should follow suit.

Expect a temp rebound here driven by hapless dip buyers, then a reverse and a short term panic exit to the doors by sketchy bull late comers.

Late buyers always end up in tears...

Now is time to be short or in cash.

Im a beliver in a greater correction...about 4% to reset the shit.

There is a cycle turn date on Feb 10th, which usually indicates a 4% or more correction. Of course, we won't go straight down...

[quatzl]

Finally a scalp on the short side that went according to plan. On 5 min, IWM hit previous high, came down, and paused at recent triple top. ROI 13%

Always leave too soon. Need to work on that. Good luck everyone.

[Cobra]

Cobra- Is it possible we're forming a right shoulder on the daily SPY?

the right shoulder is too high, so the max it's double top now.

[SWalsh]

HFT activity.

No one should have to question that sell signals just hit. The only thing that causes moves like this are machines.

Plus, that is a beautiful a-b-c correction up before they smacked it.

[Carlos]

Took a gamble at going lower today. Saw europe falling and got in on the 5min chart.. now there big candle lower...

[waverider]

SONC fans http://bullbear52x.blogspot.com/

An event like this usually marks a market top.

I will keep shorting and be nimble until bears can take out 133 (SPY) if not a good swing set up will have to wait.

BB, putting DBV on elders system is an excellent idea, indeud!

TVIX is ripping, I'm back in the money

[jimme]

Swing trades work in trending markets. I think we just stopped trending an hour ago. My plan is short 1360 and buy 1300. Right now there will be some violent swings to figure out where 1360 really is. I have a very high respect for everyone on this board because you form my opinion. Carry on and GLTA. jimme

[SWalsh]

Song for the bears:

http://www.youtube.com/watch?v=gP4apO4dbhw

[ClarkW]

SONC fans http://bullbear52x.blogspot.com/

FWIW, I sold out of SONC this morning. Broke the trendline and not acting well relative to market. Will monitor and might get back in. Need to thank Cougar for +10.5% in that one!

[ballatines]

risk off mode on !

[Wallstreetrader]

Is the top in in short term ?

[jarbo456]

SONC fans http://bullbear52x.blogspot.com/

FWIW, I sold out of SONC this morning. Broke the trendline and not acting well relative to market. Will monitor and might get back in. Need to thank Cougar for +10.5% in that one!

got out of my YUM calls this morning also. the more risk sensitive stocks seemed to have been leading this down...i also got out of my CMG calls. i wanted to hold both for a bit longer, but as some wise-guy said, "no one ever went broke booking a profit".

[EvilTrader]

Song for the bears:

http://www.youtube.com/watch?v=gP4apO4dbhw

Song for the bulls

http://www.youtube.com/watch?v=7xNSgBkum7o

[TraderGirl]

the open.

Cobra, looks like we will sell the news today, what do you think??

I don't see sell yet. What's the news?

I guess it is a sell the news kind of day...Europe news?? Have we heard it yet? Or did we just meet time and price objectives...

[BullBear52x]

SONC fans http://bullbear52x.blogspot.com/

FWIW, I sold out of SONC this morning. Broke the trendline and not acting well relative to market. Will monitor and might get back in. Need to thank Cougar for +10.5% in that one!

Yes, kudo to Cougar on this one, my reading is 12.13% not bad. UNG is looking attractive too, trade back under 5dma but not a bad basing. watching this one everyday too.

[soku]

it's happening!!!
trying to def 1340 area which was the peak before the break out. i don't think it can hold. a better support is at 1330 area. (all points in es)