06/15/2012 Live Update

[Anaconda]

wedge instead of ascending triangle, so I'm neutral now. but this small up leg should be 2 legged I think, so got to try the high again at least.

Which would create a small c&h...which would lead to exactly what the majority of traders DON'T expect today: a close on the high side... Let's face it, "logic" (anathema to the technical trader), given pending events over the weekend, suggests a large potential market decline next week, right?

Handle now formed...

[Petsamo]

The Greek elections is this weekend, right? So, we either have a monster gap up on Monday, or monster gap down?

[Petsamo]

The airlines are down big for some reason

[MrMiyagi]

I ain't got any..

[Mr. BachNut]

Still long.
Technicals have firmed.
Next week will be interesting...

Sent from my ADR6350 using Tapatalk 2

[OverUnder]

Not enough slope to be a wedge, very random dude.

[Petsamo]

JOY isn't feeling any love today

[Cobra]

guys, don't guess, let's vote: Up big or down big this weekend? viewtopic.php?f=9&t=581

[MrMiyagi]

guys, don't guess, let's vote: Up big or down big this weekend?

Ah heck, let me buy 100 SPY shares,that will crash the market come Monday.

[SWalsh]

I am not sure if you have ever heard of HFT

You must be new here.

It should be called High Fascism Trading as they are allowed to institutionally rape the public. A guest on WABC's John Batcherlor Show in April discussed what they do and how they now effectively own the exchange for if they left the exchanges would collapse and with that the economy. The next day that podcast has filled someone else appearing from a past show as they did not want his appearance heard. I sent a Twitter message to the guest 2 weeks later and he replied, "I don't think I was on that night". Bullshit....you either know, or you don't. Grasso called them parasites and that they should be ripped out in a MSNBC interview and they took that video down that night. Against former IMF President Simon Johnson's warning, and because he wanted to, Obama built oligarchs. And now they call the shots. This is a bad mkt designed to feed the banks. There are edges to trade, but nothing like it used to be. They took trading from being easy to being always alert and willing to accept that you will see things never seen before due to these HFT pricks. They are destroying America because without the mkts there is no place to raise capital. And the Facebook IPO disaster is known by every investor and a number of IPOs have been canceled due to it. Wall Street owns President Obobo. And if a nightmare occurs and he is re-elected he will likely turn against them after using them to secure power. The trader tax is a given and we will all be doing something else. A certain Bavarian corporal acted the same way. Ernst Rohm complained and it got the SA leadership killed.

[Petsamo]

IWM, XOP, RSX (Russia), etc are feeling lots of love

[Anaconda]

wedge instead of ascending triangle, so I'm neutral now. but this small up leg should be 2 legged I think, so got to try the high again at least.

Which would create a small c&h...which would lead to exactly what the majority of traders DON'T expect today: a close on the high side... Let's face it, "logic" (anathema to the technical trader), given pending events over the weekend, suggests a large potential market decline next week, right?

Handle now formed...

There she is... finally, the expected little pop. Should be a little more though...

[SWalsh]

I worked on the Street for 25 years and finished as a CEO. I feel very strong about the lack of ethics and mindless debt accumulation and intervention. There used to be a "prudent man" rule and "know your customer" rule. ZIRP essentially breaks both of those customer platforms by pushing investors into unsuitable risk based securities. How can any regulatory agency or Central Bank allow a market to trade on the "hint" of QE whatever policy instead of fundamentals and qualitative TA analysis? "We hang the petty thieves and appoint the great ones to public office." Aesop

If you walked onto a trading floor and asked "Could you tell me what The Prudent Man Rule is?" or the "Know Your Customer Rule is?, you'd get a deer in the headlights look.

I guarantee you that I KNOW the FBI, the SEC, the CFTC, and the Manhattan DA has never had an interest in anything unless it was massive, a true headline getter, and material that would generate promotions.

What has happened here is that cases brought against "banks" have been dropped and in one case a lawyer who would not drop it was fired and awarded $700,000 for wrongful termination.

It has been a policy of "hands off who we bail out". Bush isn't as guilty, but the DOJ leadership primarily comes from a Holder law firm that specialized in representing white collar criminals. Just like Fannie and Freddie, The Chicago Thug Machine is grabbing every penny they can while oppressing the American people. I don't like politicians because I have a particular window into our state senate and that saying of "you don't want to see sausage or the law made", is quite true. But I'd cut my right hand off before I voted for a democrat that gave us this incompetent president who violates his oath of office and send the signal to all crooks that it's going to be a big payday as long as they love him long time.

[SWalsh]

The airlines are down big for some reason

All flights out of Europe canceled and currency controls enacted?

[Cobra]

overshot, key time, if price doesn't stop here then it is ascending triangle.

[Anaconda]

wedge instead of ascending triangle, so I'm neutral now. but this small up leg should be 2 legged I think, so got to try the high again at least.

Which would create a small c&h...which would lead to exactly what the majority of traders DON'T expect today: a close on the high side... Let's face it, "logic" (anathema to the technical trader), given pending events over the weekend, suggests a large potential market decline next week, right?

Handle now formed...

There she is... finally, the expected little pop. Should be a little more though...

Target: SPY 133.99

[Petsamo]

I sold my X at 18.84. I don't want anybody telling X what direction up is.

[Cobra]

ok, this is an ascending triangle, tinted area the target.

[Richarab]

ES, my plan is to watch the double TOP at 1340, i am currently long on ES from yesterday
i will sell that 1338, then short ASAP, then sell at 1236, then go long to 1336... then sell again... for the weekend
all in the next couple hours

[Richarab]

also
I am watching EURO championship on TV
as you know i am in thailand - probst to the germany expat in thailand
thai television the only place i can see is on russian channel
.... they play the game on russian channel- but instead of commentary, its russian music and commercials (sound only)
totally bizarre