03/13/2012 Intraday Watering

[BullBear52x]

I think we're making stevej feels bad. Cheer up buddy. Everyone loses in the stock market. I hope you'll get some time to study and recover at a later time.

Yes, cheer up. I lost far more than 100K in the past, so really it happens to almost everyone.

Guy at my work lost 250k in the last year and a half sitting on TZA and VXX. Leverage is a dangerous instrument and must be honored as such.

Anyone know how many unfilled gaps from the Nov lows?

Gap

[BullBear52x]

Is it a turn or another bear trap?

[SWalsh]

I think we're making stevej feels bad. Cheer up buddy. Everyone loses in the stock market. I hope you'll get some time to study and recover at a later time.

Yes, cheer up. I lost far more than 100K in the past, so really it happens to almost everyone.

Guy at my work lost 250k in the last year and a half sitting on TZA and VXX. Leverage is a dangerous instrument and must be honored as such.

Anyone know how many unfilled gaps from the Nov lows?

All of those 2x and 3x funds show how deep the corruption runs now. They are designed, regardless of mkt direction, to go to zero. They should never have been approved to be listed by the SEC. But like Credit Default Swaps, I'll bet that GS had a hand in designing them and getting them approved. I remember as SRS was collapsing through $50 I heard Art Cashin saying after a bad housing number that people might want to buy some SRS to hedge the price of their homes. I haven't looked but when I last did it was at something like $3 after splits. They reverse split it to raise the price to get people to trade and allow it to drop further. If I had to list the biggest crime on Wall Street it would be the 2x-3x funds as both sides, long one or short the inverse fund they offer, lose. All lawsuits to recoup money have failed as there is a small line in the prospectus explaining what "might" happen. They didn't let Art Cashin know that, or the woman who used to be, or is still, on "Fast Money" as she was bullish on SRS at $60, $50, and $40 saying Soros thought commercial real estate would collapse, and then she never mentioned it again. They kept the reality of those instruments even from a Wharton graduates managing hundreds of millions of dollars.

The only thing keeping Greece together is an almost complete ban on guns. They will ultimately have anarchy. That will spread to Spain (49% unemployment rate age 25 and under) and all of Europe for what has been stolen from the youth. America will not be immune. These top "bankstas" really do suck. Again, read "The Quiet Coup" to see who runs America now: http://www.theatlantic.com/magazine/arc ... coup/7364/

[Harapa]

Hit my stop-loss so I'm out...damn it

Pardon my indulgence. I wonder what makes you to short this market.

[uempel]

I guess I'm less bullish than the market...

[btran874]

I'm gonna laugh so hard if yesterday drop to 1366 turned out to be wave 2 and I'm shorting a wave 3 up and don't even know it. LoL ....

[BullBear52x]

Hit my stop-loss so I'm out...damn it

Pardon my indulgence. I wonder what makes you to short this market.

There is always a reason to buy or sell, so long ones recognize when buy or sell failed and got the gut to bail.

[SB73]

I think we're making stevej feels bad. Cheer up buddy. Everyone loses in the stock market. I hope you'll get some time to study and recover at a later time.

Yes, cheer up. I lost far more than 100K in the past, so really it happens to almost everyone.

Guy at my work lost 250k in the last year and a half sitting on TZA and VXX. Leverage is a dangerous instrument and must be honored as such.

Anyone know how many unfilled gaps from the Nov lows?

I count 12.

Thanks good info. I suspect a bunch happened this year. Wouldn't surprise me to see a day or two quick sell off again in order to fill some of the gaps. I have learned however that more often than not, bear gaps are targets and bull gaps are support.

[SWalsh]

They're expecting more QE's from the Fed.
Would love to see what would happened when Fed says no more.

You saw it!

On August 9th the Fed said they would keep rates lower indefinitely when an expected QE comment was absent. They effectively said, "that's all we got". The mkt collapsed. Then they stuffed the Nasdaq within 8% of total capacity that would have caused the servers to be rebooted (and they don't know what would happen as all orders are cleared) and most trading platforms served up gibberish. Then GS announced twice that the Fed would engage in QE3. They did it at the low and then there was a slight pullback and GS announced it again. Did the SEC sanction them?

When the Fed says no more, or the mkt forces no more upon it, Prechter becomes correct.

[SWalsh]

I guess I'm less bullish than the market...

kk.png

Are you familiar with steveo (Hawaii Trading) and his "eggs". It's really quite amazing how the mkt will "curve" out a movement and turn violently after getting around the mid-point or riding it with slight penetration to the end.

[chieftan]

Cobra - looking forward a few days, it would appear that your primary sell signal (RSP:$CPCE) will trigger in the next several days given that the signal line trend is down and approaching 0. Can you foresee anything that might cause this sell signal not to trigger within the next week? I believe you still believe that this is a very reliable signal. Thanks.

[Cobra]

OK, it is a 3 push up, the normal pattern should go like this, just today is very special, so no idea.

[SWalsh]

They're expecting more QE's from the Fed.
Would love to see what would happened when Fed says no more.

Bloodbath.

I say a bank holiday. I keep hearing of these stock buybacks being bullish. Really? I say they are speculating with cheap money and buying their stock, and others. I see many have a drop in retained earnings and are laying people off and NOT investing in the company as if growth was expected. A lot of people are fat, dumb, and happy at parties I go to. I enjoy presenting the other possibility of they start saying how smart they are as a lot of dot-com guys also used to boast at parties about 2nd homes that were sold in 2002 and 2008.

"Bullshit is the glue that binds America, and there is just the right amount" - Classic Carlin...well worth the watch: http://www.youtube.com/watch?v=r7LvUDCcNss

[Cobra]

RSP_$CPCE.png

Cobra - looking forward a few days, it would appear that your primary sell signal (RSP:$CPCE) will trigger in the next several days given that the signal line trend is down and approaching 0. Can you foresee anything that might cause this sell signal not to trigger within the next week? I believe you still believe that this is a very reliable signal. Thanks.

It might take longer time than you thought to have a bearish crossover. In case it does crossover on the downside, I'd ask people to close long but not short.

[soku]

They're expecting more QE's from the Fed.
Would love to see what would happened when Fed says no more.

Bloodbath.

And how about when the FED says "Yes, here's more sim"??!?

They aren't going to let up. This is an election year, and Ben's job rests on Obama staying where he is.
It's not about you, or the country, or saving the bankers....... Ben cares about Ben. If it costs 10 million or 100 trillion, it's one man's job security.

expectation is nothing. today shd be non-event.
with price increase (no inflation, but just oil and food price increase) and super strong consumer spending, ben cannot do any further qe, or he is going to ruin his own political career, as well as his academic reputation.

[pezhead9000]

Today's buy on weakness money flow winners: VXX & SDS

http://online.wsj.com/mdc/public/page/2 ... yflow.html

[Cobra]

finally touched the EMA20.

[BullBear52x]

Vix just got a hard on.

[uempel]

I guess I'm less bullish than the market...

kk.png

Are you familiar with steveo (Hawaii Trading) and his "eggs". It's really quite amazing how the mkt will "curve" out a movement and turn violently after getting around the mid-point or riding it with slight penetration to the end.

No. I've got my own system with ellipses, which works quite well. But I'm sure that I'm not the first guy to use em (always checking the vertical and horizontal centerlines, using top and bottom as reference points, left and right borders too). Ellipses make sense like the 50% Fib, the Ts you use and channels... One of the tools I like best.

[Tabby]

I just realized I posted my question in yesterday's board. huhu.
IWM opened 82.06 and high of today 82.41 and previous day closed 81.44, does anyone know why it shows LOW of today is 81.4047 and no P bar?