05/09/2011 Intraday Watering

[bill108]

Is USO the best vehicle for option trading on Crude ? Made a 20% scalp on some june calls bought on friday.

[FJoe]

Seems more bearish than what the ES charts are saying...but I have to think we get some bounce over the next few days. Dating back to 1998, this is the only time I can find that we have had 5 down days on the ES (S&P minis), and still closed above the 20 day moving average on the 5th down day.

I wouldn't be short this over the next few days...after that it could be a different story. Should retest the close on 4/29/11, then it may make more sense to become bearish.

[agnosia]

heavy resistance 1340.50 on the DOM for /es... this market is too choppy for me. watching for now..

[uempel]

Difficult to trade at the moment: I'm looking for a break of MA 195 to the upside or a break of 36/34 to the downside before entering a position. But I guess not much will happen today and I might as well go for a jog

[chickencoop]

Difficult to trade at the moment: I'm looking for a break of MA 195 to the upside or a break of 36/34 to the downside before entering a position. But I guess not much will happen today and I might as well go for a jog

May9.png

great chart, as always.

[99er]

SPX
Likely channel?
http://99ercharts.blogspot.com/2011/05/spx_09.html
Bounce at lower trend line.

[agnosia]

hmm,,, dollar is rallying and the pm's are holding up pretty well so far. covering my gold short.

[jynmax]

Difficult to trade at the moment: I'm looking for a break of MA 195 to the upside or a break of 36/34 to the downside before entering a position. But I guess not much will happen today and I might as well go for a jog

MAY9.png

excuse me,is the 195 on 5min or 10min?

[agnosia]

screw it . short /es 1336.... we are going lower !

[agnosia]

stopped out even. back to the bleachers hey cobra any thoughts on this chopfest?

[bbc]

screw it . short /es 1336.... we are going lower !

es “pai an er qi” , raised 2pts.

[bbc]

stopped out even. back to the bleachers hey cobra any thoughts on this chopfest?

TRY CL/QM, ES is not attractive for this moment, low risk/reward:

[chickencoop]

stopped out even. back to the bleachers hey cobra any thoughts on this chopfest?

co-ask. He could have dozed off.

[MajorEasy]

screw it . short /es 1336.... we are going lower !

too choppy for me, i feel lucky with the 3 points i've made so far today....

[uempel]

Difficult to trade at the moment: I'm looking for a break of MA 195 to the upside or a break of 36/34 to the downside before entering a position. But I guess not much will happen today and I might as well go for a jog

May9.png

great chart, as always.

Tks. Note that I had to replace the chart because the lines kept sliding around, something with java. But now (see version 2) it's ok.

[chickencoop]

any news on oil? it just shot up!

[silverharp]

DX failing at 786

[uempel]

Difficult to trade at the moment: I'm looking for a break of MA 195 to the upside or a break of 36/34 to the downside before entering a position. But I guess not much will happen today and I might as well go for a jog

MAY9.png

excuse me,is the 195 on 5min or 10min?

All these MAs are based on the 5 day and 32.5 trading hours of the week. So it's 5 for the daily, 32.5 for the hourly (or 33, as stockcharts does not offer 32.5), 195 on the 10 min and 195 on the 5 min - thanks for the tip, of course it's a typo and I'll change it to 10 min...

[agnosia]

screw it . short /es 1336.... we are going lower !

too choppy for me, i feel lucky with the 3 points i've made so far today....

nice. i made a few points on my gold short but i think it's time like these we should not be trading...

[agnosia]

huge 5K barrier to get through on the /es at 1339.00.