02/22/2012 Intraday Watering

[Cobra]

hmm, good H2. I think bears need pray now, chances are higher and higher the low was in.

[Me XMan]

You're talking for today correct?

hmm, good H2. I think bears need pray now, chances are higher and higher the low was in.

[Cobra]

You're talking for today correct?

hmm, good H2. I think bears need pray now, chances are higher and higher the low was in.

this round of pullback. bulls will revisit yesterday's high if proven the low was in.

[fehro]

15m SPX update.. still room for a late selloff.. or not..

[TraderGirl]

SPX broke out of bull channel, backtested, do we have a bear wedge?? or just a break out??

[Denali92]

You're talking for today correct?

hmm, good H2. I think bears need pray now, chances are higher and higher the low was in.

this round of pullback. bulls will revisit yesterday's high if proven the low was in.

This would be a super minimal post opex / post holiday top pullback if the low is in.... our pullback post the Jan opex top was 16.5 SPX pts and we are even more OB, so I would be really surprised if we do not go a bit lower first - Other than last year, post Feb opex tops tend to take a while to develop.... but I think a minimum of 20pts for the pullback is to be expected.... If it is just 12,5 then the BULLS are SUPER STRONG!

-D

[soku]

thoughts on meli? er ah

edit: not sure when is er. this link says 2/23 ah
http://finance.yahoo.com/news/MercadoLi ... 9.html?x=0

[waverider]

VIX is flat while VXX is -2.45%, interesting!

[Cobra]

maintain the plan because bears still weak. The rebound was just one legged, and now the pullback is already 2 legged (assume this down leg has more on the downside).

[Cobra]

here's what I mean up is just one leg but the pullback already 2 legged (no lower low yet, so don't now yet if this is the 2nd leg, I just assume it makes a lower low later), so bulls are stronger therefore I expect another leg up, no necessarily today though because only 24 minutes left.

[TraderGirl]

Is this considered filled??

[Cobra]

key time, neither side is allowed to fail. the balance is shifting on the bear side now. well, the big picture bulls are still OK, all I'm talking here are just today intraday.

[Petsamo]

Yea baby, let's drop !

[Cobra]

OK, I'm neutral now, I mean I'm clueless now as there're only 11 minutes left, anything is possible.

[SWalsh]

here's what I mean up is just one leg but the pullback already 2 legged (no lower low yet, so don't now yet if this is the 2nd leg, I just assume it makes a lower low later), so bulls are stronger therefore I expect another leg up, no necessarily today though because only 24 minutes left.

I looked back over the last six weeks in the last few nights. We are repeating patterns that are 100% computer generated. This has been a slow walk up. Everything should look familiar to everyone as we keep making the same patterns. And they are being made with HFT/algo activity. IOW, they are churning everyone as there are really no more longs to put massive funds into the market. I've not looked at the volume at all but I presume it is low given the small bars and then the 10-15 pt SPY bars that take place between blink your eyes and the print is just there.

As I'm finishing this message I looked up after hearing the photon torpedo sound that comes with HFTAlert and 400 stocks got hit on that drop. That about 6% of all listed stocks PLUS they target ones that have a high correlation to others. This has become absurd, I'm sorry to say. They need to be stopped before no one ever comes back. I've seen it happen. It's not fun.

[TraderGirl]

Tomorrow has a turn, but from what level???

[Cobra]

on 2nd thought, still missing one leg up as this still is: bull one big leg up but it took bears 2 leg down already still no match with the bulls' 1st leg up, so should be another leg up.

[janez]

TVIX pretty low. Dropped quite a bit today. what is the interpretation?

[proteus46]

SPY Hourly - if employment numbers are good - tomorrow could be very bullish

[TWT]

NDX : If the H&S pan out it could trigger something bearish