05/17/2012 Live Update

[TraderGirl]

I'm still targeting a lower low:

88.png

I have a target of around 1295, which also happens to be close to the high of 10/27/11. It seems we should see a rebound in Apple to get some sort of rally, and we are not getting that today. My Apple target is around 515 in the short term...

We'll see what happens if we don't get a rebound here...

[Al_Dente]

Uempel Nina is my fave thnx that was an odd nina

One for you: Fish gotta swim, birds gotta fly, SPY gotta bounce eventually
http://www.youtube.com/watch?v=rGOyycNq ... re=related

Note invertTRIN bull (but see how quickly it reversed yesterday)
Banks are trying; other internals a bit weak

[TraderGirl]

I'm still targeting a lower low:

88.png

I have a target of around 1295, which also happens to be close to the high of 10/27/11. It seems we should see a rebound in Apple to get some sort of rally, and we are not getting that today. My Apple target is around 515 in the short term...

We'll see what happens if we don't get a rebound here...

Btw, there are many positive aspects that should have caused a bounce, but we haven't gotten it, so this market is very bearish. It reminds me of the run-up when we had many instances when we should have gotten a pull back, but we continued to have a slow trickle up. Maybe we are getting a slow trickle down until we reach the time and price objective....

[Cobra]

cobra --- looksie like a triangle? bias down? just broke 10 minutes ago, got target?

I don't see triangle but for now maintain the plan. I'm mostly clueless for today's market action.

[Cobra]

testing the morning low, key time.

[alvian33]

cobra, is it pretty extreme now the red bars on hourly? or it could be much more? i am on sidelines, but just wondering

[uempel]

Update:

[victorm]

Mixed feelings here.. torn between selling some of my TZA or holding it like a puppy.

holding tza is a risk now... (as for me)

I think much lower lows in them markets are headed here, I was just thinking of taking some profits, a bounce here in SPX would be not unreasonable.

Yea, if we break 1314 ... will go lower ...

[Petsamo]

SPY double bottom

[uempel]

I'm still targeting a lower low:

88.png

I have a target of around 1295, which also happens to be close to the high of 10/27/11. It seems we should see a rebound in Apple to get some sort of rally, and we are not getting that today. My Apple target is around 515 in the short term...

We'll see what happens if we don't get a rebound here...

TraderLady, I guess today's market is heavily skewed in view of tomorrow, tricky to trade.

[fehro]

next stop? 1290ish

[MrMiyagi]

Compromised:
Sold half available TZA position at 21.97$. 19.2% profit.
McClellan Oscillator is slowly heading towards very low values from where it normally rebounds sharply. The faster it goes the better but it looks like it may be a slow grind down.

[TraderGirl]

I'm still targeting a lower low:

The attachment 88.png is no longer available

I have a target of around 1295, which also happens to be close to the high of 10/27/11. It seems we should see a rebound in Apple to get some sort of rally, and we are not getting that today. My Apple target is around 515 in the short term...

We'll see what happens if we don't get a rebound here...

TraderLady, I guess today's markets is heavily skewed in view of tomorrow, tricky to trade.

Agree. Wonder how much of a relief bounce it will have. One reason for a bounce would be that XLF is sitting at this support level, but FAS is consolidating under the same support....

[Petsamo]

I guess today's markets is heavily skewed in view of tomorrow, tricky to trade.

What news are you expecting tomorrow?

[TraderJoe]

I guess today's markets is heavily skewed in view of tomorrow, tricky to trade.

What news are you expecting tomorrow?

Tomorrow is Zukeroff day, I believe the norm is a big up day on hot IPO's?

[Unique]

I'm still targeting a lower low:

88.png

I have a target of around 1295, which also happens to be close to the high of 10/27/11. It seems we should see a rebound in Apple to get some sort of rally, and we are not getting that today. My Apple target is around 515 in the short term...

We'll see what happens if we don't get a rebound here...

515?

I say 545 before close today.

[uempel]

Update:

[ClarkW]

Compromised:
Sold half available TZA position at 21.97$. 19.2% profit.
McClellan Oscillator is slowly heading towards very low values from where it normally rebounds sharply. The faster it goes the better but it looks like it may be a slow grind down.

Nice trade Miyagi! Wax off!

[Petsamo]

I guess today's markets is heavily skewed in view of tomorrow, tricky to trade.

What news are you expecting tomorrow?

Tomorrow is Zukeroff day, I believe the norm is a big up day on hot IPO's?

Is Zuckeroff Mark's Russian twin?
I was thinking tomorrow may be the 10th time Greece gets fixed

[uempel]

I'm still targeting a lower low:

88.png

I have a target of around 1295, which also happens to be close to the high of 10/27/11. It seems we should see a rebound in Apple to get some sort of rally, and we are not getting that today. My Apple target is around 515 in the short term...

We'll see what happens if we don't get a rebound here...

TraderLady, I guess today's markets is heavily skewed in view of tomorrow, tricky to trade.

Agree. Wonder how much of a relief bounce it will have. One reason for a bounce would be that XLF is sitting at this support level, but FAS is consolidating under the same support....

Head of Credit Suisse TA in London on CNBC, he now targets 1300 and 1290 after reading our posts here on Cobra's forum. But he didn't mention us, just stole our TA ideas...