05/31/2012 Live Update

[CognitiveDissonance]

DA Bears!

[TraderGirl]

Facebook all of a sudden spiked...??

[TraderGirl]

Miyagi, any p-bars??

Nope, just from this morning.

jj.png

FB looks like shorts covered end of day.

Thanks!!

[Cobra]

hmm, this is not the close I was talking.

I don't understand how you can be so bullish.

[Al_Dente]

OK everyone please quiet down,...:

Plan was good ... Al why suspended? Referendum was today nope?

key: U in EU time zone, no?...polls point to yes, not final yet (?????)...http://www.reuters.com/article/2012/05/ ... IS20120531
[edit: thx TG got yr link]

yeap 10pm in Ireland is now 9pm...after 10pm they close polling stations

okey dokey pokey
ps what day are we on?
what planet are we on?
nevermind, I remember now: Planet Cobra

[edit: ps key i like it u always ask questions u already kno the answer to ]

[Mr. BachNut]

Well, the trend map says there are chances we have begun the next leg down, but because each low has been a higher low, the consolidation pattern (if you can call it a pattern) is not resolved.

Interesting to note how tight most of the opens and closes are (see purple circle) given the dramatic daily swings.

[snakehead]

This is me represents what is really going on:

http://www.zerohedge.com/news/santelli- ... -contagion

[Petsamo]

Facebook all of a sudden spiked...??

Just like SPY

[ClarkW]

Well, the trend map says there are chances we have begun the next leg down, but because each low has been a higher low, the consolidation pattern (if you can call it a pattern) is not resolved.

Interesting to note how tight most of the opens and closes are (see purple circle) given the dramatic daily swings.

Cluster.jpg

Could we also be in a bear flag on your chart?
Thanks

[KeiZai]

OK everyone please quiet down,...:

Plan was good ... Al why suspended? Referendum was today nope?

key: U in EU time zone, no?...polls point to yes, not final yet (?????)...http://www.reuters.com/article/2012/05/ ... IS20120531
[edit: thx TG got yr link]

yeap 10pm in Ireland is now 9pm...after 10pm they close polling stations

okey dokey pokey
ps what day are we on?
what planet are we on?
nevermind, I remember now: Planet Cobra

[edit: ps key i like it u always ask questions u already kno the answer to ]

hahaa yeah thats me

have a cool day bro!

[snakehead]

And that is precisely how it is done, kiddies.

When Market Makers find themselves sitting on tons of stock the day before Armeggeddon,
they "walk" up the price so that retail happily starts buying. And they UNLOAD at the end of the day.


I am guessing that today was a massive DISTRIBUTION day. Stocks got "distributed" to Ma and Pa and Uncle Joe
(the 'suckers') while cash got 'distributed' to da big boys.

Catch ya on the other side!

[Mr. BachNut]

Well, the trend map says there are chances we have begun the next leg down, but because each low has been a higher low, the consolidation pattern (if you can call it a pattern) is not resolved.

Interesting to note how tight most of the opens and closes are (see purple circle) given the dramatic daily swings.

Cluster.jpg

Could we also be in a bear flag on your chart?
Thanks

Yeah. It's flaggy, but did you see how the bottom edge of the flag (rising bottoms line) was violated this morning to lure and trap bears?
I am finding a variety of patterns (bull and bear) depending on what index and time frame I am looking at.
So, Mr. Market is working to confuse everyone, but my bias is that the May 18 low will be broken in due course.

[snakehead]

Oh and by the way,

Morgan Stanley just got caught "painting the tape" -- bought massive lots of FB shares to raise (MANIPULATE) the price
exactly 2 hours before big interview between MS CEO and Fartiromo after the bell on CNB-feces.