06/06/2012 Live Update

[louie]

Yeah, its an expectations game.

Sell rumors, buy facts stuff. I was pretty sure we bottomed based on NYMO pattern. Now next stop in my book is a zig-zag up to spx 1350.

Just saw a JPM chief guy at Bloomberg saying theres no possibility ECB and FED wont print money like crazy if things go worse.

So theres your maniac market going depressed and euphoric week after week.

Its a tough mental game, but thats how we make money.

This time even Cobra didnt believe his own best bottom signal, just a remark to say how difficult it is to see things clearly.

Evil, you are sooooo evil, but dead on

[Mr. BachNut]

Market Neutral.
So far, this looks like a stop run to me with shorts folding in front of Bernanke testimony tomorrow.
We'll see if the buying picks up steam or withers once this has cleared.
I have a long setup that may trigger at today's close (and if not today almost certainly tomorrow) if the bears don't wake up soon.
This is aggravating as it may just top tick this bounce.
Nonetheless I'll dutifully pull the trigger (with risk management) knowing that the gun may be pointed at my foot...

[Cobra]

goes as planed. I need see the next few bars before making my next call. so far bulls are not bad.

[EvilTrader]

Market Neutral.
So far, this looks like a stop run to me with shorts folding in front of Bernanke testimony tomorrow.
We'll see if the buying picks up steam or withers once this has cleared.
I have a long setup that may trigger at today's close (and if not today almost certainly tomorrow) if the bears don't wake up soon.
This is aggravating as it may just top tick this bounce.
Nonetheless I'll dutifully pull the trigger (with risk management) knowing that the gun may be pointed at my foot...

A stop-popping squeeze rally cant be discarded.

After weeks of bearish bias, im bullish biased now.

Today even a fed guy, cant recall his name, hinted operation twist can be extended. So u know what to expect from bernanke tomorrow.

It will boost the market, even if for a short-lived rally. I dont care. We see the big picture, but trade short time frames.

[KeiZai]

10Note support

[lcgllc]

Draghi gives market nothing, they sell it, only to trap new shorts as they cover ahead of Ben tommorrow, who has already telegraphed, he has nothing more than a reiteration that he is "ready" to act...(overly simplistic granted, because the currency market is really seeing some massive unwind thanks to Aussie $) I'm swinging the ES 10 day touch short, will only add at the 20 day.

[Mr. T]

We're never going down again!!!!!

[stucap]

goes as planed. I need see the next few bars before making my next call. so far bulls are not bad.

10 and 13 dma on SPX converging at about 1306. Possible resistance to at least trigger some consolidation? Or are we in face-ripping zone for shorts today?

[MrMiyagi]

SPX 1500!!!!!!

[ClarkW]

I don't see a reason for this summer not to be just as choppy as the previous two. Same fears are there: Greece and the other PIIGS, poor economic data here. Likely to be whipsawed by rumors and the economic data point of the day again.

[soku]

i think it is bottomed in mid-term. i am expecting a recovery summer.
intraday, i hope es can dip to 1290 and then back up.

Hi soku..Where you been???

busy with my day time job. how is going?
market strong and overbot. i see res 1305-1310, still expect a pull back

[louie]

goes as planed. I need see the next few bars before making my next call. so far bulls are not bad.

10 and 13 dma on SPX converging at about 1306. Possible resistance to at least trigger some consolidation? Or are we in face-ripping zone for shorts today?

Just keep in mind: margin calls are a BITCH!

[Al_Dente]

“Another Spanish Bailout Plan Taking Shape”
http://www.zerohedge.com/news/another-s ... king-shape

[TraderJoe]

I just sold my SPY calls but I'm holding my UNG calls.

I find it very interesting that gasl - Direxion Daily Nat Gas Rltd Bull 3X is currently up 13.7% and UNG is only up 1.5%

I don't understand the difference between the 1.5% and the 13.7%???

Does anybody have any ideas??

[lcgllc]

here comes the ES daily 20 day kiss...in 3 sessions off low....please! you cant make this up...wait until the imminent Moody bank downgrades hit...all on declining volume.

[Mr. T]

We should start a petition to bring back Mark Hayes and that girl that looks like Zooey Deschanel.

Oh, I know = shouldn't go there.

Phantom people are cool, just ask Pat Morita.

[Mr. T]

Dollar breaking down........

Run bears, RUN!!!

Power hour today? Could finally live up to it's name.

[Claire]

Cobra - any targets??? thanks

[snakehead]

So ...... one rally and EVERYONE on this board is bullish now ??

[EvilTrader]

I just sold my SPY calls but I'm holding my UNG calls.

I find it very interesting that gasl - Direxion Daily Nat Gas Rltd Bull 3X is currently up 13.7% and UNG is only up 1.5%

I don't understand the difference between the 1.5% and the 13.7%???

Does anybody have any ideas??

Its a highly leveraged long fund. Bull 3x!!!