05/15/2012 Live Update

[MrMiyagi]

SPX 1500?

[uempel]

Bachnut, you've been mentioning INDU: check this P&F chart (traditional), cries out loud not to long, not to cover shorts. But beware, the P&F ATR has not (yet?) broken support. Difficult to measure up

Indu.png

(INDU P&F ATR not shown here)

Very much in agreement uempel. I point out INDU because it is arguably on first push down from it's high (or a double top). Using the Cobra school of thought, I want to see 2 pushes down to a bottom. So, between here and a bottom, there may be a corrective rally. The other indexes on the other hand are coming off lower highs. So, one could argue that they are already on a second push down.

I have a stop on my short as a matter of discipline for the setup not because of bullishness. The market doesn't have to do what it seems its supposed to do. If I get taken out, I am open to reloading the short if I can justify it.

Market might be skewed this week due to Friday's option expiry. Some moves today/tomorrow/Thursday might be "out of context"

[Al_Dente]

uemp
got it
watching noon
no lunch

[Mr. BachNut]

Al, I've got something for noon - precisely 12.00 EDT. Poor BachNut, no lunch for him today.

78.png

Ugh. I'm hungry.

[Al_Dente]

WHY couple of squeeze sticks on 5min sso, jpm, gs, fas ??
Trying to go red already??
OY

Anyone have a live link into what Dimon is saying now…some meeting in Tampa FL

[TWT]

XIV: An interesting chart that I suggest to follow

[Al_Dente]

Al, I've got something for noon - precisely 12.00 EDT. Poor BachNut, no lunch for him today.

78.png

Ugh. I'm hungry.

Bach: would u like a nice plate of spagetti?

[Mr. BachNut]

Al, I've got something for noon - precisely 12.00 EDT. Poor BachNut, no lunch for him today.

78.png

Ugh. I'm hungry.

Bach: would u like a nice plate of spagetti?

If I could eat your avatar, I would...

[EvilTrader]

We have dip buyers

we have mad money printers, also.

[Cobra]

guys, I'm back. it took longer time than expected. but it looks like I didn't miss anything here as indeed it's a range day.

[Cobra]

still bulls hopes are double bottom here.

[Al_Dente]

Shorts covering
134.72 HOD resistance spy; if she breaks that…could get ruthless

Alignment on top
NYAD on bottom shows what a chop day looks like in color (pink circle)

[uempel]

still bulls hopes are double bottom here.

Doesn't your chauffeur take care of your car?

[KeiZai]

We are getting close to my target where the bigger bounce is expectable in Europe, one more red day? (short-term) ...but...when everyone is expecting a bounce I simply cannot trust that will really happen, so Im not going swing long, intraday yes...things are getting very-very oversold therefore Im out half pos and will dump tomorrow the other half, if we get a bounce in coming days I see it just as good sell the rip setup

GL ALL

[MrMiyagi]

Any measured moves here or too tight a range.

[knock]

SPX 1500?

mrmiyagi, are you serious about this? can you shed some more insight to this vision?

[Al_Dente]

still bulls hopes are double bottom here.

Doesn't your chauffeur take care of your car?

[uempel]

still bulls hopes are double bottom here.

Doesn't your chauffeur take care of your car?

Al, the signal sure is bullish...

[MrMiyagi]

SPX 1500?

mrmiyagi, are you serious about this? can you shed some more insight to this vision?

It's just something I blurt out when that first sip of coffee passes my lips.

I started saying it when in January-ish the SPX came off the December lows and kept going. Most everyone figured a bounce soon to die but I said (maybe here or somewhere else) that it would go to 1375-145 easy and started with the SPX 1500 chant.

These days it is just a mockery to myself.

[SWalsh]

11:49 = 650 stocks stuffed
12:08 = 590 stocks stuffed

All brought to you by the guys we have to thank for being there....for always monitoring the market.....for providing us with the liquidity we crave....THE HFT BOYZ!

Yakoff Smirnoff's famous cry, for this is a royal joke.

http://www.youtube.com/watch?v=TcwQOKLCvZc

The next move is usually back inside the channel they just knocked it out of...wash-rinse-repeat.

If they brought back the public they'd have tar and feathers and a length of rope!