04/21/2011 Intraday Watering

[99er]

Bernanke In A Box

On April 27th, 2011 the Federal Open Market Committee (FOMC) issues its next decision and statement regarding the future of Quantitative Easing (QE) II. Though previously announced to officially end June 30th, 2011 there are serious questions if this is still a viable option.

This particular meeting is the 'signal' meeting that the financial community will be looking for to assess risk and strategy. Many (including myself) have already concluded what the outcome will be and are preparing accordingly.

On this date Bernanke will hold the first ever press briefing by the Federal Reserve, in addition to releasing forward forecasts which are usually held another 3 weeks. It is going to be an exciting event.

Unfortunately, Chairman Bernanke is going to disappoint!

http://www.zerohedge.com/article/guest- ... es-qex-box

[BullBear52x]

for the life of a day trader, bears won't get the ball back until the lower wedge is broken. Whipsaw? Yes, very very much. Shank You!

[StrikePrice]

I'm taking off for the rest of the day because I don't see much happening due to the holiday, volume already looks light so anybody who's anybody is probably already on vacation.

I do want to briefly share some insight into how I trade to put my posts in perspective, whether you care to read them or not.

I trade weekly, meaning the weekly charts are my main indicators and I like to swing trade during week and hold a stock trade(using options) Monday to Friday.

I was very bearish coming into this week and my posts probably made that clear. I expected more downside, which we got on Monday. I thought there would be further to go but the reversal proved too strong. I assume the market isn't moving much so here is how we end the week in the chart.

I am back to bullish on a weekly bar and close like this week and while I expect a retest of the big gap up ~ 1321 area I see that holding and a higher close at the end of next week.

My weekly pick was FCX. I'm out of it today. Certainly not the best performer of the week but I did come in bearish so thought it was pretty safe. I hesitate to post my weekly stock because I don't believe a board should be used to make stock picks. I'm here to learn from all and share what I think, right or wrong. If anyone is interested in talking weekly picks I'd be happy to, I find it the most fun doing the research over the weekend to find a diamond in the rough.

Everyone have a great holiday.

[jamesmith]

Thanks for sharing, have a nice holiday :mrgreen:

I'm taking off for the rest of the day because I don't see much happening due to the holiday, volume already looks light so anybody who's anybody is probably already on vacation.

I do want to briefly share some insight into how I trade to put my posts in perspective, whether you care to read them or not.

I trade weekly, meaning the weekly charts are my main indicators and I like to swing trade during week and hold a stock trade(using options) Monday to Friday.

I was very bearish coming into this week and my posts probably made that clear. I expected more downside, which we got on Monday. I thought there would be further to go but the reversal proved too strong. I assume the market isn't moving much so here is how we end the week in the chart.

I am back to bullish on a weekly bar and close like this week and while I expect a retest of the big gap up ~ 1321 area I see that holding and a higher close at the end of next week.

My weekly pick was FCX. I'm out of it today. Certainly not the best performer of the week but I did come in bearish so thought it was pretty safe. I hesitate to post my weekly stock because I don't believe a board should be used to make stock picks. I'm here to learn from all and share what I think, right or wrong. If anyone is interested in talking weekly picks I'd be happy to, I find it the most fun doing the research over the weekend to find a diamond in the rough.

Everyone have a great holiday.

[Cobra]

no idea what's going on but if you see this as an Ascending Triangle, then chances are high that there's more on the upside.

[DAB]

SPY after hours yesterday. Bad tick(s)? Coincidence?

[99er]

Weekend Radiation Forecast

http://enenews.com/fukushima-forecast-s ... l-24-video

Isn't life great on the West Coast?

[Cobra]

SPY after hours yesterday. Bad tick(s)? Coincidence?

SPY.JPG

AH doesn't matter.

[BullBear52x]

Bulls just got fumbled, Bears got the ball! 1st and 10.

[Cobra]

nothing to say, hope it could rebound from trend line.

[demon]

nothing to say hope it break trendline

[BullBear52x]

Nice pass by 99er to cletus, 1st and goal!!!!!

[BullBear52x]

Good game huh?

[99er]

SPX
60-minute MACD about to cross.
http://99ercharts.blogspot.com/2011/04/spx_5794.html

[BullBear52x]

The Bears got beat up so much in the past two years, going the third year it kind of worn out in strength.

[Tabby]

Stockprice,
Thanks for sharing your chart and ideas. Happy holidays too.

[KENA]

SPX
60-minute MACD about to cross.
http://99ercharts.blogspot.com/2011/04/spx_5794.html

Looks like next monday will be RED

[cletus]

SPX
60-minute MACD about to cross.
http://99ercharts.blogspot.com/2011/04/spx_5794.html

Looks like next monday will be RED

There might be a pullback Monday but honestly the option sentiment seems way overly bearish to me. I see ISEE (Retail option trading) at neutral levels today implying skepticism plus CPC is at 0.93. Typically good pullbacks don't happen until you see some exuberance. It will be interesting though.

[Cobra]

SPX
60-minute MACD about to cross.
http://99ercharts.blogspot.com/2011/04/spx_5794.html

Looks like next monday will be RED

There might be a pullback Monday but honestly the option sentiment seems way overly bearish to me. I see ISEE (Retail option trading) at neutral levels today implying skepticism plus CPC is at 0.93. Typically good pullbacks don't happen until you see some exuberance. It will be interesting though.

again, you forgot to check time, today's update is wrong again.

[BullBear52x]

133.52 should be tested.