05/16/2011 Intraday Watering

[agnosia]

they did a great job scaring the shorts today... i almost fell for it.. added to my short.. this ship is gonna sink.. qqq's making new lows.

[agnosia]

feel pretty certain this move is over and we will end at 1333.... i am short 1340 stop 1341 ... come on bears!

be cautious man. i am not so optimistic. feel like some support around 35-36.
if bears cannot effectively take 1334.5 where is the vwap and my new equ point, it could still be a bullish flag.

i moved my stops down to 1338 just in case ... i dunno, qqq's are making new lows.. dollar is bouncing off support...

[Cobra]

rebound failed, we'll have to wait for the next chance. we'll see.

[Cobra]

they did a great job scaring the shorts today... i almost fell for it.. added to my short.. this ship is gonna sink.. qqq's making new lows.

yeap, today's problem is QQQ. a healthy market, you don't want to see QQQ lagging.

[soku]

i moved my stops down to 1338 just in case ... i dunno, qqq's are making new lows.. dollar is bouncing off support...

nobody knows for sure.
people are just talking about the quality of the rally this morning. some rumor says it's the short sqz, just to trigger the stops around 1339.75.
if we go low from 1340, what i can say is we live in a dog eat dog world.

[99er]

DX
There's a neckline somewhere...
http://99ercharts.blogspot.com/2011/05/dx_16.html
Right, Ben?

[soku]

gross on tv.
he just said qe3 will take form of language instead of printing. lol
i like this guy.

[agnosia]

nobody knows for sure.
people are just talking about the quality of the rally this morning. some rumor says it's the short sqz, just to trigger the stops around 1339.75.
if we go low from 1340, what i can say is we live in a dog eat dog world.

well you need to think like a criminal in order to make money in this market i am used to trading the after hours so u see it all the time. the banks love gunning for obvious stops.

[Cobra]

should be another rebound attempt, we'll see.

[99er]

Gold
Caution, bulls.
http://99ercharts.blogspot.com/2011/05/gold_16.html

Silver too.
http://99ercharts.blogspot.com/2011/05/silver_16.html

[99er]

Crude
Update.
http://99ercharts.blogspot.com/2011/05/crude_16.html

[Cobra]

not bearish yet, but decisively breakdown below green line would be bad. let's wait.

[99er]

10-Year Note
Debt Limit Day.
http://99ercharts.blogspot.com/2011/05/10y_16.html

(Reuters) - Treasury Secretary Timothy Geithner told Congress he would start tapping into federal pension funds on Monday to free up borrowing capacity as the nation hits the $14.294 trillion legal limit on its debt.

[Cobra]

channel. let's see how the current bar unfold - will tell if the previous bar is in fact an exhaustion bar.

[Cobra]

too bad, now let's look at the morning low.

[Cobra]

critical point. I wouldn't read it as Symmetrical Triangle if breakdown again. Instead it'd be Descending Triangle which has 64% chances of breakout on the downside.

[Cobra]

whether there's a 3rd rebound attempt, we'll need see the current bar, reduced volume would make a rebound very likely soon.

[agnosia]

i think they are gunning for the low from two weeks ago of 1325.25.. make a lower low by just a tad then rebound? i bet there are tons of stops there. i covered half my short here... keeping the rest for a swing.

[99er]

ES
Heading to that neckline...
http://99ercharts.blogspot.com/2011/05/es_5992.html

[Cobra]

the bar looks promising, so could be a rebound of some kind here. we'll need see how strong the rebound before making a further speculation.