05/10/2012 Live Update

[Petsamo]

IWM had some serious dip buyers

[Cobra]

Cobra - you think the bottom still in yesterday ?

Didn't the rebound today prove the low was in yesterday? Read my statement carefully, especially the 2nd conclusion line:

[MrMiyagi]

IWM had some serious dip buyers

And not one phantom bar today in the bunch.

[TraderGirl]

UVXY broke down out of descending triangle...although, if the 5 minute TSI support holds, we may bounce...

[SWalsh]

Cobra,

I'm a little busy studying this computer issue and I need advice.

Could I have the prices for 2 PM, 3 PM, 4 PM, and the opening tomorrow? And if possible, the close too. We'll work on next week tomorrow.

Thanks in advance

[Cobra]

hopefully a double bottom here, I'm not sure, need wait and see.

[ricster3]

Cobra, at what price level would the inverted H&S confirm on $AAPL? 575?

Thanks!

[BullBear52x]

>136.4 at close will force me to buy or drop my bearish position to no more than 10%

[Cobra]

lunch time, will be back. not a strong rebound, so for today, bulls may or may not have more up room but overall looks like it's just a rebound.

[KeiZai]

It could be hunt volatility funnel, so likely up (continuation)

[Cobra]

Cobra, at what price level would the inverted H&S confirm on $AAPL? 575?

Thanks!

if AAPL could hold here then a little bit push up, then the H&S bottom is confirmed. not bad for now.

[Petsamo]

IWM wants to unload

[ClarkW]

NUGT 30 min. Bought 1/4 position here

Weekly $BPGDM is still hovering above 10

[uempel]

Cobra - you think the bottom still in yesterday ?

Didn't the rebound today prove the low was in yesterday? Read my statement carefully, especially the 2nd conclusion line:

Ahh, Cobra, you don't like the P&Fs...

[TraderGirl]

NUGT 30 min. Bought 1/4 position here

Weekly $BPGDM is still hovering above 10

Been watching this one too. Needs to either break out of what looks like a potential bear flag, and if it cant could fall more. Looks like one more potential push down, then I will buy....

I might be wrong, but I want to wait to see what the venus retrograde on 14/15th brings before I commit...

From what I understand from an astrologer on this post, there was a venus retrograde during the March 2009 bottom....

[TraderGirl]

Cobra - you think the bottom still in yesterday ?

Didn't the rebound today prove the low was in yesterday? Read my statement carefully, especially the 2nd conclusion line:

Ahh, Cobra, you don't like the P&Fs...

Uempel, I dont know how to read the P&F's what does it say? a lower low ahead?

[Carlos]

Very weak rebound.. should go a little higher. However, 15 minute chart of stochastics and macd don't look like much.. best plan would be to go with the down trend and short but only when the technicals look better for that.

Down to around 1300 after this bounce?

[BullBear52x]

How about MAY day? summer time thingy...

[TWT]

SPX: so far it is only a relief bounce

[SWalsh]

Exports, a cornerstone of China’s torrid economic growth over the past three decades, grew only 4.9 percent last month — half as fast as economists had expected.

figures Monday showing that residential land sales in the country’s 20 largest cities had fallen 92 percent last week from the week before, as declining prices for apartments have left developers short of cash and reluctant to start further projects.

There are early signs of a credit crunch, at least among private sector companies. Many seem to be asking their suppliers for more time to pay debts and complaining of cash flow problems.

It really is all starting to unwind. All we witnessed was the feeding of oligarchs thanks to a leaderless nation doing Chicago-styled business as usual.

Former IMF President Simon Johnson, "If you grow and feed oligarchs instead of dealing with the problems will increase the chances of a depression" - The Quiet Coup - May 2009 - The Atlantic Monthly: http://www.theatlantic.com/magazine/arc ... coup/7364/

ZH - "Europe Has Started The Endgame" And Biderman Says "The US Is Next"
TrimTab's Charles Biderman has an excellent commentary on the European EndGame and the problems are starting here. This is all inevitable. Economic history guarantees it. http://www.youtube.com/watch?v=EMW1rIDl ... el&list=UL

And if you want some real issues to wonder how hard this can get hit (ALL the trading today is when a HFT hits, else we sit)read/listen to Marc Faber: http://www.zerohedge.com/news/marc-fabe ... pproaching

Not to forget the outflow of cash from the mkt: http://www.zerohedge.com/news/11th-cons ... ecord-lows

The term? EndGame

And Cantor-Fitzgerald advises buying call spreads on TBT.