03/28/2012 Intraday Watering

[tomsky]

At gap support. It's a big if but if the bears can close Monday's gap it would qualify as an exhaustion gap. We could see some strong selling - emphasis "could"

"could" as every bear dream in a bull market
But i don't see a bottom patern yet. Usually by this time the first move from open will be exhausted but now it's only consolidating near the low.

[Petsamo]

For UNG holders, there's a way out and save face. Trade into a very beat up stock, like JOY. The stock has to have nice fundamentals. You have to identify a bottom before swing trading first.

[SigmaEcho]

Hi Cobra, yo uhave a target for the drop?
tnx

[KENA]

FYI.. Stocktiming says Liquidity had a small dn tick yesterday but is still hi..The accelerators are still in up condition for SPY,QQQ,IWM. Mkt will be choppy and Bias for today is mixed..NYSEBP still holding.So hang in there Bulls and Bears and we will see.

[Valance]

Novice here but the market feels like its ready for a plunge. Last few days it just feels weak and if it wasn't for Fed on monday I think we would have seen some heavy down this week.

[Kato]

Another gap I am watching. Two weeks ago everyone was claiming the end of the 30 year bull market in bonds. I don't think you can call it done yet. TYX is back under the 200dma and IF it can close the gap from 2 weeks ago, there may still be life in the bond bull. Still long ZBU12.

[tomsky]

Usually by this time the first move from open will be exhausted but now it's only consolidating near the low.

I'm surprised the bulls are missing. Instead of a strong up move just wanders near low, lower low. Could this be a bear's day?

[Pharmboy]

CRIS ran yesterday (I noted them before), ZLCS is also up (wrote it up on Saturday on my board).....biotechs are holding strong. SGEN blew through its $20 OH resistance (I have the June $20/25 BCS, selling the $20 or $17.5 puts for a good credit or net 0 trade). YMI is one to start accumulating IMHO.

[Cobra]

the selling is still sharp, so the rebound if any shall fail.

[tomsky]

small double bottom. I'm out.

[Denali92]

Novice here but the market feels like its ready for a plunge. Last few days it just feels weak and if it wasn't for Fed on monday I think we would have seen some heavy down this week.

We were definitely set up that way before Bernanke spoke..... alas, psychology has changed.... so he probably did help avert the test of 1370 for this quarter...

BUT, I MUST ADMIT I am looking back at April 2010 as a possible analog as we had a similar reversal candle on 26-Apr-10 followed by an ALL DAY down move....

If so, back then the best strategy was to close the shorts and wait for a rally re-test.... then the FLASH CRASH came.....

-D

[uempel]

Ahhh, I had some data problems, could not operate one of the screens. I hate it. And then suddenly, without me doing nothing, it's working again
Here a long term view which does not support the bullish view...

[Cobra]

AAPL holds well. I'm not a bear yet.

[Kato]

VIX at a key resistance level - middle BB

[Cobra]

should be some support here.

[Jose]

AAPL 5 minutes, trendline on RSI is broken, they risked it and got a smaller return.

[Petsamo]

long FCX 37.26, 100 shares

[bushwaffle]

long FCX 37.26, 100 shares

Risky move bro, better keep tight stop, she's confirmed down

[Jose]

KEiZAi what I talked you about here viewtopic.php?f=2&t=497&p=68565#p68565:

Is just about happening right now:

Objective is EMA 50 or RSI 55...

[TraderGirl]

Looks like a triangle forming, we have touched the trend line below before, many times, sitting around 1405..