06/21/2012 Live Update

soku · Post by **soku** » Thu Jun 21, 2012 11:37 am

here comes my es 1335. i feel we are close to a tradable bottom now.

kamukak · Post by **kamukak** » Thu Jun 21, 2012 11:38 am

Does anyone suggest going short here? Cobra is time to have some shorts now?

Richarab · Post by **Richarab** » Thu Jun 21, 2012 11:38 am

Cobra wrote:3rd target met, should be more. bloody day today could be.

Yes
Making a killing
And you think gold 1250?
Beechnut is a buyer at that price - I am too - until then I am very heavy short

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Mr. T · Post by **Mr. T** » Thu Jun 21, 2012 11:38 am

soku wrote:here comes my es 1335. i feel we are close to a tradable bottom now.

In what time frame?

This is just the first down day = many more to come I hope.

cougar · Post by **cougar** » Thu Jun 21, 2012 11:39 am

IWM under S2 support (77.42)

Post by **Cobra** » Thu Jun 21, 2012 11:40 am

kamukak wrote:Does anyone suggest going short here? Cobra is time to have some shorts now?

Cannot answer this here. Day trading, yes, I was short, but accidently stopped out after partial profit, so now I'm empty handed.

MrMiyagi · Post by **MrMiyagi** » Thu Jun 21, 2012 11:41 am

IWM and QQQ are exactly where the p-bar down from Tuesday was. SPY hit its Tuesday one yesterday.

BullBear52x · Post by **BullBear52x** » Thu Jun 21, 2012 11:42 am

cougar wrote:
BullBear52x wrote:Intraday oversold, but since we are in sell the rip mode lets see how it reacts here.
R U short IWM? hope so! It is now in a support zone...If it breaks it....=> 77

yes sir, evil TNA swing short set up.

ClarkW · Post by **ClarkW** » Thu Jun 21, 2012 11:44 am

cougar wrote:
ClarkW wrote:EEM at the 61.8% retracement of right wing. Strong move but might take a break here.
Excellent! Congratulations!

Thanks! Congrats to you on DUST!

Richarab · Post by **Richarab** » Thu Jun 21, 2012 11:44 am

Mr. BachNut wrote:One comment on Crude Oil.
Look at a weekly chart.
Yesterday, it pierced below a rising bottoms line from the February 2009 low.
It has been consolidating above this line for the last four weeks. So, the line was providing support.
The significance of the break probably explains the big volumes in USO yesterday.
It could be a move to force capitulation and set up for the turn, but if not, a revisit to those 2009 lows is technically in the range of outcomes over a longer time horizon.
Hard to believe.
The follow through from here should be informative.

as oil magnate I love the drop in oil - plus Chesapeake self destruct button

This is an amazing time to buy the assets morons can't run for profit - even when barrel extraction price is like 15$ in the states - oil industry - while an engineering field - is complete morons - its bizarre how stupid oil people are and how lacking the fundamentals of engineering and technology are deployed

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Post by **Cobra** » Thu Jun 21, 2012 11:45 am

aapl actually looks bullish here. consolidating under resistance usually means it wants to breakout. http://stockcharts.com/public/1684859/c ... /260183775;

soku · Post by **soku** » Thu Jun 21, 2012 11:45 am

Mr. T wrote:
soku wrote:here comes my es 1335. i feel we are close to a tradable bottom now.

In what time frame?

This is just the first down day = many more to come I hope.

next 5 min, silly. u don't know me?
for my summer projection, refer to this one
http://1.bp.blogspot.com/-jUXj7zaJUAA/T ... 7_2359.png

OverUnder · Post by **OverUnder** » Thu Jun 21, 2012 11:46 am

PPT bot activation ENGAGE.

OverUnder wrote:Calling all central banks -- calling all central banks -- PPT bot activation more READY.

TraderJoe · Post by **TraderJoe** » Thu Jun 21, 2012 11:46 am

Mr. BachNut wrote:One comment on Crude Oil.
Look at a weekly chart.
Yesterday, it pierced below a rising bottoms line from the February 2009 low.
It has been consolidating above this line for the last four weeks. So, the line was providing support.
The significance of the break probably explains the big volumes in USO yesterday.
It could be a move to force capitulation and set up for the turn, but if not, a revisit to those 2009 lows is technically in the range of outcomes over a longer time horizon.
Hard to believe.
The follow through from here should be informative.

I took a quick look and I saw 60.00 oil in 2009????

Post by **Cobra** » Thu Jun 21, 2012 11:46 am

the very 1st rebound shall fail.

soku · Post by **soku** » Thu Jun 21, 2012 11:50 am

soku wrote:jpy is my favorite. it seems it will reach 80.5 today.
data bad. it reads a lot like b-d

the b-d point is around 1342. bulls need to challenge that area to keep options open

cougar · Post by **cougar** » Thu Jun 21, 2012 11:51 am

BullBear52x wrote:
cougar wrote:
BullBear52x wrote:Intraday oversold, but since we are in sell the rip mode lets see how it reacts here.
R U short IWM? hope so! It is now in a support zone...If it breaks it....=> 77
yes sir, evil TNA swing short set up.

GOOD! IWM ~77.42 (S2) is now resistance:

Richarab · Post by **Richarab** » Thu Jun 21, 2012 11:52 am

TraderJoe wrote:
Mr. BachNut wrote:One comment on Crude Oil.
Look at a weekly chart.
Yesterday, it pierced below a rising bottoms line from the February 2009 low.
It has been consolidating above this line for the last four weeks. So, the line was providing support.
The significance of the break probably explains the big volumes in USO yesterday.
It could be a move to force capitulation and set up for the turn, but if not, a revisit to those 2009 lows is technically in the range of outcomes over a longer time horizon.
Hard to believe.
The follow through from here should be informative.
I took a quick look and I saw 60.00 oil in 2009????

Oh yeah - and that's when companies like Pemex come looking for help from me- as all of a sudden their gross inefficiencies can no longer be masked by 130$ barrels (see 2008)

And it still only costs 25$ barrel extraction offshore gulf of Mexico (not deep water stuff, this is 60$+)

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Mr. BachNut · Post by **Mr. BachNut** » Thu Jun 21, 2012 11:54 am

Richarab wrote:
Mr. BachNut wrote:Something to watch. There is a well defined rising wedge on the ES future. The break could be a mover.

Rising Wedge.jpg
I am short hard on ES since yesterday
Definitely saw that wedge - but the crazy swings yesterday started to form a wedge pointing up
The spx 8ma and 60ma crossed and towards bears - with moody downgrades plus other poor data I think some resolution down is going happen now - you are right in that it may just be a buy the bounce

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One thing about that wedge. Given the width of the wedge, the target for a move on a break would be back to the June 4 low. So, that is a counter to the mild correction/dip buy argument. So, my mind is open to both possibilities at the moment.

Richarab · Post by **Richarab** » Thu Jun 21, 2012 11:54 am

Cobra wrote:the very 1st rebound shall fail.

even three push down with positive divergence elsewhere ?
Sold some shorts - not gold though
Waiting for 1250

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