05/29/2012 Live Update

[rpccharts]

Short NUGT - its headed back to test 7's on volume imho

[TraderGirl]

Facecrook now below 30$.

Floor was $31....now headed to $24???

[MrMiyagi]

Facecrook now below 30$.

Floor was $31....now headed to $24???

Whose floor? Remember that p-bar down to 24$?

[Petsamo]

I can't believe we gave the DAX a higher high

[TraderGirl]

Facecrook now below 30$.

Floor was $31....now headed to $24???

Whose floor? Remember that p-bar down to 24$?

I remember.... the last year and 1/2 to 2 years buyers have been buying on 2nd market at around $31, so that WAS the floor, now that it has fallen below, selling begets more selling....

[Al_Dente]

China stimulus is BIG news, especially since it was released LAST WEEK.
China $HXC +2.6%
FXI +3.16%
Both on intraday scalper sell signal at the moment...IMHO

[MrMiyagi]

I remember.... the last year and 1/2 to 2 years buyers have been buying on 2nd market at around $31, so that WAS the floor, now that it has fallen below, selling begets more selling....

I see what you meant, didn't realize this ponzi stock has been "trading" so long!

[KENA]

Nice inverted "U" and target reached now lets see if it will go lower.

[MrMiyagi]

IWM; RUT's bastard child.

[TraderGirl]

Two turns this week, Tuesday and Thursday, so we could be down into Thursday...

SPX potential count?...

[Al_Dente]

one min

[MrMiyagi]

Small bar on SPY up to 133.70$

[fehro]

bounce off the triangle?.. one more push up to 1340? grey channel?

[rpccharts]

May 29th - 30th CRASH POTENTIAL

May 31 - April 1 BOTTOM - BUYING starts thru June

Cycles/SOLAR/Lunar Eclipse
Solar eclipse was on May 20, 2012
When Lunar and Solar Eclipses Hit together CRASHES occur - including 1987 crash

The first lunar eclipse of 2012 occurs at the Moon's ascending node in southern Ophiuchus about 6° northeast of Antares (mv = +1.07). It is best seen from locations in and near the Pacific Ocean (Figure 3). Most of the Americas will experience moonset before the eclipse ends while eastern Asia will miss the beginning of the eclipse because it occurs before moonrise. The Moon's contact times with Earth's shadows are listed below.

Penumbral Eclipse Begins: 08:48:09 UT
Partial Eclipse Begins: 09:59:53 UT
Greatest Eclipse: 11:03:13 UT
Partial Eclipse Ends: 12:06:30 UT
Penumbral Eclipse Ends: 13:18:17 UT

At the instant of greatest eclipse the umbral eclipse magnitude will reach 0.3705. At that time the Moon will be at the zenith for observers in the South Pacific. In spite of the fact that just a third of the Moon enters the umbral shadow (the Moon's southern limb dips 12.3 arc-minutes into the umbra), the partial phase still lasts over 2 hours.

[MrMiyagi]

It is my understanding that the 50/200 monthly cross has never happened on SPX. Sure getting close though..

[rpccharts]

June 4th, 2012 is Lunar eclipse

[rpccharts]

FB now under $30.

Headed to $5 imho once sale restrictions lift - junk stock

[Cobra]

you don't want to see price consolidating here, no good for bulls.

[Petsamo]

Does anyone have any steel companies they like, other than X or STLD ?

[Al_Dente]

Does anyone have any steel companies they like, other than X or STLD ?

NUE