02/09/2012 Intraday Watering

[Cobra]

the feeling is one more push up at least.

[Grizzly]

Cobra, what do you think of the divergence between SPY and IWM ?

[Cobra]

Cobra, what do you think of the divergence between SPY and IWM ?

it takes time to work, the question is no one knows when, so we can pretty much forget about this.

[Al_Dente]

1 min
Vol shows WHO is btfd
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =250028427

That was me spiked up on your last Vol there

Sure I kno
U r really baron von sneakybull

PS the grail says she can’t hold
Spy ignoring it
What else is nu

[usctrojan99]

Jarbo & SB73 -

These are my supper levels to watch 1330, 1300, 1280, 1265. I am looking how the these support levels are being bought. Unless these are breached, I still believe the trend is up. However I reserve the right to switch sides and be nimble if I see a trend change .

[BenAndLloyd]

Jarbo,
Thanks for CLR trade suggestion. I played Mar 80c and out for a small profit!

[jarbo456]

Jarbo & SB73 -

These are my supper levels to watch 1330, 1300, 1280, 1265. I am looking how the these support levels are being bought. Unless these are breached, I still believe the trend is up. However I reserve the right to switch sides and be nimble if I see a trend change .

agreed on the 1330...

watching if 1330 is aggressively bought or not will be the early signal for higher risk swing traders to buy puts.

[99er]

Quote of the Week

"There is no sanctity of contracts in the United States. Only fools meet their financial commitments. The non-payers are the truly enlightened."

http://www.zerohedge.com/news/dick-bove ... nancial-co

[jarbo456]

Jarbo,
Thanks for CLR trade suggestion. I played Mar 80c and out for a small profit!

ha! good for you...but i'm looking for a swing here...hopefully a test of the high in this consolidation rectangle...83'ish.

[BullBear52x]

Intraday sell once again, but to be good sell <135.37 will be better entry.

[THAT GUY]

Cobra, consolidation here is good for bull or bear ?

Thanks!

[99er]

stucap

Still thinking about RSS; my concern is that Google owns it (and everything else it seems). Trying out Twitter for now.

[SWalsh]

Cobra, what do you think of the divergence between SPY and IWM ?

it takes time to work, the question is no one knows when, so we can pretty much forget about this.

Looking back, the bullish divergences work in what seems to be under 24 hours.

[uempel]

Tough resistance up at 1353:

[SWalsh]

Quote of the Week

"There is no sanctity of contracts in the United States. Only fools meet their financial commitments. The non-payers are the truly enlightened."

http://www.zerohedge.com/news/dick-bove ... nancial-co

i heard a discussion on the John Batchelor syndicated show (WABC and I think it was Sunday night) stating that investors have to come to the realization that MFB is not an isolated incident and that they should not have funds in their accounts that they might need immediately, or all their funds, as the days of completely segregated funds and enforcement appears to be over.

You used to go to jail for this stuff just like a lawyer touching his escrow account for personal use.

EDIT: The Hunt Brothers learned there was no sanctity of contracts when they rigged the metals game to drive the prices down.

[btran874]

My crystal ball tells me we ramp up to the close. Gap up tomorrow above 1360 then crap.

[jarbo456]

who recommended the gold short today? i'm interested in how you generated the signal?

/gc spiked at the cash open, and then just sold all day from there.

[usctrojan99]

Jarbo & SB73 -

These are my supper levels to watch 1330, 1300, 1280, 1265. I am looking how the these support levels are being bought. Unless these are breached, I still believe the trend is up. However I reserve the right to switch sides and be nimble if I see a trend change .

agreed on the 1330...

watching if 1330 is aggressively bought or not will be the early signal for higher risk swing traders to buy puts.

Indeed. Though I am following the trend, the path of least resistance appears to be down. However, I've been burned in the past trying to guess when the pullback is. I know we will have a pullback and it will be a decent one. But, the market has been amazingly (bull)/stubbornly (bear) resilient.

My trading style is a little more conservative and I have been scaling my long position accordingly w/ stops. At this point, I can't justify being 100% in equities, no matter what Fink says . The SPY puts are a minimal investment at these levels.

[99er]

SPX

After hitting the upper line of the Megaphone for the fourth time (15-minute chart), this puppy is due for a drop. Target? Lower line of Megaphone.

What a day.

[ClarkW]

FWIW, bought a little ERY today. Will sell if breaks below TL.