02/10/2012 Intraday Watering

[THAT GUY]

I don't see this as strong rebound, and I don't think we'll reverse up again today because this is the 3rd time big gap down, all the previous 2 were reversed up almost immediately but the 3rd time could be the charm.

I like the sound of that !!

[99er]

cougar

As of May 2011, Twitpic altered their Terms of Use, allowing them to distribute the photographs people have uploaded to their ´Affiliates´. Twitpic however refuses to state who these affiliates may be, and what they gain by distributing said pictures. This has triggered a public outcry by users, who do not wish their pictures to be sold by Twitpic, while Twitpic also gets credit for the image, and the photographer who did the actual work gets nothing. As a result, people have begun boycotting Twitpic and removing all of their images.

https://en.wikipedia.org/wiki/Twitpic

[Petsamo]

sold XME 54.04, 0.7% gain

[btran874]

I didn't load enough upro. I need to load more, please come down and break 1337, please.....

[BullBear52x]

I don't see this as strong rebound, and I don't think we'll reverse up again today because this is the 3rd time big gap down, all the previous 2 were reversed up almost immediately but the 3rd time could be the charm.

this one gap reversal is big enough too, and we are now under 5dma, like what I see so far.

[BullBear52x]

cougar

As of May 2011, Twitpic altered their Terms of Use, allowing them to distribute the photographs people have uploaded to their ´Affiliates´. Twitpic however refuses to state who these affiliates may be, and what they gain by distributing said pictures. This has triggered a public outcry by users, who do not wish their pictures to be sold by Twitpic, while Twitpic also gets credit for the image, and the photographer who did the actual work gets nothing. As a result, people have begun boycotting Twitpic and removing all of their images.

https://en.wikipedia.org/wiki/Twitpic

yes, I am not a fan of Twit or face book. I use it when I have to but not by choice.

[btran874]

If it breaks 1342 I will just ride down the C wave and forget this B wave. AAPL is green again so that means NDX is next on the list.

[KENA]

One thing for the bears..The VIX did break up out of the wedge yesterday and broke thru the res today at 19.6 and is now printing 20.58.The trend has not changed yet but maybe soon. Lets see.

[btran874]

If it breaks 1342 I will just ride down the C wave and forget this B wave. AAPL is green again so that means NDX is next on the list.

Okay bears, Wave A is over. Wave B in progress.

Expected target is 1353 to 1356. Make no mistake, we'll be back at 1337 again probably Monday or so.

[SB73]

Expecting the 2nd leg to start any time now. What is interesting is that TVIX hasn't given up any ground.

[Cobra]

OR high as resistance, key time.

[ClarkW]

Buying a little more ERY here

[kaiboliu]

double top?

[Wallstreetrader]

Ascending triangle ?

[stucap]

Ascending triangle ?

i wouldn't be surprised. can't keep this market down even with NYSE decliners >2200 and holding.

[soku]

One thing for the bears..The VIX did break up out of the wedge yesterday and broke thru the res today at 19.6 and is now printing 20.58.The trend has not changed yet but maybe soon. Lets see.

check the huge chart i posted on last page.
u r getting lazy man. where is my delivery? the old days i watch yr pet and drink yr soda

damn i forgot to eat yr chicken wings!!! all yr fault

[SWalsh]

HFT example of pattern interference:

Below is the gold chart from yesterday and the SPY chart of yesterday and today.

Note the labeling of a Leading Diagonal in gold (an impulse move down), then a correction, and a following sharp break. Then look at the SPY chart with a similar, and quite valid, pattern that was broken by HFT involvement. One could muse over whether today's activity was due to the market being held up yesterday to sell it. That is the power of their involment in the stock market. Both patterns, if trading using EW, would be required trades for you don't get to be subjective and pick and chose what is a well laid-out trade for you don't know which one will be extremely correct. A Leading Diagonal could be an A wave (making fair profits) or a wave 1 followed by a powerful wave 3 ( a massive profit). When you have a trading methodology and have found what you consider an "edge", you have to take the trade - every trade. Not taking it and watching it work is literally psychologically damaging to your confidence.

And while on that topic please click this link http://www.nanex.net/Research/QuoteStuf ... anned.html and look at the NYSE information that is petitioning the SEC to require quotes entered to have a minimum time to remain as a standing order. The market will trade more freely with less occurrences of 4.8 million quotes and 21 trades, which was the largest winning of "Stuff the Machines" contest on Wednesdays. See the end of Wednesday's post for some hard numbers on quote stuffing. It is FAR more invasive than I could have believed.

[SWalsh]

Ascending triangle ?

a-b-c-x-a-b-c-d-e wave 2 complex correction?

That is clearly 5 waves down. The correction could be more involved, but once finished it "should" see another 5 wave leg down.

[btran874]

So awesome, looks like I won't miss wave B up after all.

[BullTart]

Not much to add today... things are proceeding very well according to plan with the TVIX evil plan.

The crocodile has snapped its jaws! Arrrr!

Again, as I mentioned yesterday, there is an outside chance of flash crash v2.0 soon... very similar dynamics to the last time it happened.

Last time, we also had a levitating act of rising up without any corrections, and then the Greek drama unfolded... day started out negative and sometime around 2pm-ish is when the riots got out of hand in Greece and the system had its seizure.

Not likely, but still possible.

This is what I'm watching today. To refresh your memories... here's what flash crash v1.0 looked like. Watch out around 2pm-ish!!!