08/22/2012 Live Update

[TradingJackal]

I say we drop big today. 20 handles or so from where we are at. And we keep dropping for the next few days with each day's bar bigger and badder and redder than the previous.

I say i wish i say i wish are u a witch ?

No, but I have a itch. An itch to short

[Cobra]

no valid target now. let's wait for the 2pm ET FOMC minutes.

[CognitiveDissonance]

Looks like low volume on backtesting SPY XLF ES

[CognitiveDissonance]

Not bullish IMHO

[TradingJackal]

Indicators aside, I look at GE near tops. People loose interest in it far quicker than other opportunities near the top. It is diverging again with this SPX rally.

[Petsamo]

The market likes what its hearing

[Cobra]

show time, now looks like a H&S bottom.

[TradingJackal]

hallelujah Did he just print or what

[CMT]

*FOMC PARTICIPANTS SAW ECONOMY DECELERATING AFTER JUNE MEETING
*FOMC PARTICIPANTS DISCUSSED QE, EXTENDING 2014 FORECAST ON RATE
*FED STAFF SAID MARKETS HAVE LARGE CAPACITY TO HANDLE MORE QE
*MANY FOMC PARTICIPANTS SAW NEW QE AS BOLSTERING U.S. RECOVERY
*MANY ON FOMC FAVORED EASING SOON IF NO SUSTAINED GROWTH PICKUP

[Al_Dente]

thanks CMT
can anyone link to the full text
tia

[MrMiyagi]

Can't say this bar-stuff does not hold water...

[BullBear52x]

Just a reminder, we are in sell the rips (intraday) so let it tick....before the Ding.

[stucap]

Can't say this bar-stuff does not hold water...

is honey badger done now or more more more?

[MrMiyagi]

is honey badger done now or more more more?

The 142.22$ is still in play from yesterday but the rest is all downside, check the update from about an hour ago.

[BullBear52x]

Sell Ding ding ding

[Cobra]

target met.

[BlackThought]

first FOMC move is the false move hold true here?

[MrMiyagi]

target met.

I second that;

[Al_Dente]

LOOK AT THAT TWO MINUTE VOLUME bots

822volume.png

thanks DR feelgood!

joe joe sorry I didn’t mean 2 shout at you…..ps I saw u caught the bots early, oy
bots now start to sell.......just little bit....

[TraderGirl]

Is anyone playing DUST ?
Why don’t “you people” tell me about this stuff?

Edit: There is also a potential turn on the 24th for Silver....

any indication about the direction of the Silver turn? TIA

I was thinking a possible down move...market could have a move down on Fri...seeing a potential trough 24-28th...

Just looking at NUGT, there is the potential we are in the 5th wave of C, so if it plays out the same, we pull back afterwards...how much, don't know...??

But there seems to be positive energy in the market until mid-september...