06/07/2012 Live Update

[lcgllc]

cant remember a steeper trend line on hourly Global ES...

[Al_Dente]

Clark
That’s what we call an “elevator” squeeze starting on DUST 5min chart NOW
She moved the minute u told her 2

[ClarkW]

Longer term trade IDEA, not a recommendation, just something I'm monitoring and considering. Curious to any thoughts, opinions, criticism especially.

Looking to short GDX via buying DUST today and holding for 2-10 days, so not an intraday trade, for the following reasons:
1. ChiOsc on GDX is the highest it's been in 3 years. Chart below points to previous times ChiOsc was above $15m, pointed to an intermediate term top of some kind each time
2. Black bar on daily points to a possible turn, although Cobra would probably say the strength of the move up, starting on May 14th, is too strong not to have another leg.
3. 50% Fib retracement level is providing resistance at around $48.54.
4. Lots of hope the past couple days about another QE program, can't help but think many will be disappointed after Uncle Ben's speech. Although we all know it will eventually happen. But Operation Twist is scheduled to end later this month I believe
5. Would have thought GDX would be up this morning on news China unexpectedly lowered interest rates

Any thoughts?

FWIW just purchased 1/4 of a position in DUST around $42.00

[OverUnder]

SPY close to early last week pivot.

[Al_Dente]

If this 5m stick CLOSES red or CLOSES below the low of the last green bar = cancels elevator
……..oy………dust

[Petsamo]

Bernanke is speaking http://mam.econoday.com/

[KeiZai]

Just the idea

[Al_Dente]

Thanks apple and keizai for Ben link
Your kindness will be reciprocated
Reposting it here, as he’s on live in a min after the prelim blabla
http://www.c-span.org/Live-Video/C-SPAN3/

oh thx also petsam, just saw yrs

[Al_Dente]

CLARK
OY
HONEY BADGER
DUST

[KeiZai]

Gold in EUR channel retest? btw still in the triangle

[OverUnder]

Transports pulled back below trendline on prepared Bernanke comments released prior to live testimony.

Nice DUST trade btw guys.

[lcgllc]

call in the Falling Knife Catchers!

[ClarkW]

CLARK
OY
HONEY BADGER
DUST

DUST's volatility is crazy, that's why I'm 1/4 in.....I'm going to TRY and not look at the 5-15 min charts today, looking to hold for at last a couple days. Stupid some would say but sometimes emotion gets the best of me and I make the wrong decision so trying not to monitor every tick.

[TWT]

EUR: Zig Zag completed ?

[EvilTrader]

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Gap up above yesterday's high, so the gap might not be filled.

The Global ES is on a straight up, pretty much still is on the first leg so chances are the very first pullback would be bought. Very bullish and welcome to the era of money printing!

Hey guys

Forum members know i've been calling this reflation rally due to money printing expectations for the whole last week.

Hope you bought the dip.

NYMO gave me the final signal to go all in this week.

Now im selling half my ultra-long position. Already made my year.

Thanks Cobra and everybody who gives me informed second opinions.

Cobra is right, you must have and follow your own method based on your convictions and experience, cobra services are excellent second opinions to make you think and constantly reevaluate your analysis, and it great value !!!

[Al_Dente]

CLARK
OY
HONEY BADGER
DUST

DUST's volatility is crazy, that's why I'm 1/4 in.....I'm going to TRY and not look at the 5-15 min charts today, looking to hold for at last a couple days. Stupid some would say but sometimes emotion gets the best of me and I make the wrong decision so trying not to monitor every tick.

She’s breaking all the squeeze rules (there are no rules; every sqz is unique)
Grab some cash, put it in YOUR pocket not theirs
Wait…u mentioned long term……. nevermind……..

PS: $TRIN just moved to 1.6.......

[lcgllc]

this is tragic...idiots are investing the hard earned money of its clients based on the machinations of headline reading and seek and destroy algos...tragic

[TraderGirl]

I posted this last night:
Just noticing the Ichimoku cloud...last two corrections we had a rebound up to the top of the red cloud before a new low, currently that level is around 1345 or 1360 which is 61.8% retracement for the entire wave 3 or C from 1415 to 1266...

A pullback at some point is most likely due before another attempt....IMV

[Cobra]

pullback as expected. fib info, I'm not surprised it touches EMA20.

[Cobra]

did you guys see an ad float around this forum? if so, it's not from my web site, don't blame me. I only have 3 google ads on the top.