05/16/2011 Intraday Watering

[Cobra]

First of all, when you see inappropriate posts in this forum, just ignore them, don't ever reply, otherwise, especially if I don't know your ID, I may delete your ID along with the post, so be careful, just don't reply any of those posts.


Small gap down at the edge of the Friday's low, so no idea if the gap will be filled today. Overall, the direction is not clear, we have to wait until the breakout and most importantly with the follow-through. The Global ES looks bearish by the way, seems like a Rectangle in the forming which usually means a continuation on the downside.

Institutional actions from stocktiming.

[wolftrader]

gm. Euro, oil and gold are all recovering in the last 10 minutes - good news from Euro zone finance meeting?

[Out of Bounds]

Point taken.

[Cobra]

Point taken.

yeah, you're lucky this time as I know your ID.

[wave]

Morning.

[99er]

Good Morning.
Looks like it's going to be a H&S kind of day.
ES: http://99ercharts.blogspot.com/2011/05/es_16.html

[99er]

EURUSD
"Gonna wash that Ben right out of my hair..."
http://99ercharts.blogspot.com/2011/05/eurusd_16.html

[AK84]

Morning. Hopeyou all had a nice weekend.

short term trade ideas for the week.

SHORTS

PCLN - break of 518.55 . Target : 509
BIDU- Target 127
GOOG: Target 518

[maldini]

good morning

[Cobra]

the open.

[Cobra]

hmm, feels like another reversal of reversal of reversal of reversal.

[uempel]

Presumably SPX will hang around at 1330 - 34. This is kind of tricky for DT, don't think I'm going to open up any DT positions:

[millie]

How does OPEX affect ur trading this week pls folks?

[agnosia]

i would be surprised if we don't at least get to the weekly pivot at /es 1340 early this week and i think this will be a good short opp..

[KENA]

The NYSEBP did not change to "0" on the Dorsey Wright Point & Figure Charts. It still has .39 to go. If we have a dn day that could change on the up dated chart tonight.If it changes to a"0" then we are in a dn trend.If not the trend is still up.
Also Stocktiming .com Has issued a statement that the mkt right now is in danger condition and could have a sharp move dn if things get much worse.Institutions need to get into accumulation.

[PLUNGE]

The NYSEBP did not change to "0" on the Dorsey Wright Point & Figure Charts. It still has .39 to go. If we have a dn day that could change on the up dated chart tonight.If it changes to a"0" then we are in a dn trend.If not the trend is still up.
Also Stocktiming .com Has issued a statement that the mkt right now is in danger condition and could have a sharp move dn if things get much worse.Institutions need to get into accumulation.

From COT's Timer: S&P 500: The "smart money" commercial hedger crowd is still heavily bearish, as they've been for the past six weeks. Meanwhile, the wrong-way small traders remain just as heavily bullish - as they've been for the last seven weeks. It all adds up to a bearish signal for my S&P 500 trading setup, which has been short since the week of May 2. Both sides are moderating their relative extremes of positioning, but just barely. No sign of any impending change of signal for some time. His website is http://cotstimer.blogspot.com/

[PLUNGE]

The NYSEBP did not change to "0" on the Dorsey Wright Point & Figure Charts. It still has .39 to go. If we have a dn day that could change on the up dated chart tonight.If it changes to a"0" then we are in a dn trend.If not the trend is still up.
Also Stocktiming .com Has issued a statement that the mkt right now is in danger condition and could have a sharp move dn if things get much worse.Institutions need to get into accumulation.

From COT's Timer: S&P 500: The "smart money" commercial hedger crowd is still heavily bearish, as they've been for the past six weeks. Meanwhile, the wrong-way small traders remain just as heavily bullish - as they've been for the last seven weeks. It all adds up to a bearish signal for my S&P 500 trading setup, which has been short since the week of May 2. Both sides are moderating their relative extremes of positioning, but just barely. No sign of any impending change of signal for some time. His website is http://cotstimer.blogspot.com/

[BullBear52x]

GM,
RSI is lower than that of last Friday, expecting new low.DT

[Mr. BachNut]

How does OPEX affect ur trading this week pls folks?

Max Pain for SPY is at 134 at the moment, which is neutral. Trade can go either way or both based on that.

[Cobra]

do not feel bearish here, especially given the fact US$ is weak this morning, so still it's possible for a reversal of reversal of reversal of reversal.