06/22/2012 Live Update

[Al_Dente]

Lunch sounds good....

There’s a new guy/gal on board: welcome whitedog
King Cobra will surely welcome u personally after he gets some nourishment
Here’s a Sinatra classic just 4 u … http://www.youtube.com/watch?v=rmf1AYgYj6I

[uempel]

Good luck guys, I'm off.

[Petsamo]

I sold my XOP. That'll be the catalyst for a spike up

[Cobra]

not sure if it's a double bottom. nothing sure today.

[ClarkW]

Sold all my DZZ before close yesterday, EDZ this morning and 1/2 my SMN. Minimal exposure over the weekend. Lots of possibilities til Monday....

Hope everyone enjoys the weekend!

[Cobra]

cobra after a MDD we typically have the small range day like today, what is next, continuation? given where we are on support, i feel some retrace may be in order for monday.

normally, should continue down sometimes later. normally of course.

[Cobra]

key time, need strong up to eliminate the 3 push up pattern.

[MrMiyagi]

key time, need strong up to eliminate the 3 push up pattern.

I'll wax The Button.

[Cobra]

back tested the double bottom neckline and up again, so this double bottom is as real as it gets. but still bulls need show strength here otherwise it still could be 3 push up.

[Cobra]

target met, could be more as it's eliminated 3 push up pattern.

[Petsamo]

Where's TraderGirl at ? I'm curious to know what candlestick formation we would have if we finished at current levels

[agunther]

Where's TraderGirl at ? I'm curious to know what candlestick formation we would have if we finished at current levels

Bullish Harami

[Al_Dente]

while spy was wobbling around her 50ma on the 5 min [edit ...sorry i meant 20ma]
XIV was holding nicely above her upsloping 20ma on her 5m
[ignore top panels; see bottom panel, green candlesticks, XIV]
...late posting this chart

[Petsamo]

Where's TraderGirl at ? I'm curious to know what candlestick formation we would have if we finished at current levels

Bullish Harami

Thank you

[Petsamo]

USO falling out of bed. I'm no longer in it

[Petsamo]

KBE, the other bank ETF, looks so happy

[Al_Dente]

KBE, the other bank ETF, looks so happy

there's yr squeeze
r u long?

[Petsamo]

No, banks are on the overbought side, except for JPM

[Al_Dente]

HOW/WHY DO THE VIXIES WORK? (ongoing thread, never resolved…)
I think the way it works is this: (IMHO kool-aid):
When options folks get a little bearish they start putting on hedges and it shows up (sometimes early and gradually… sometimes violently) as a lift in the bear vixies: VXX, UVXY, TVIX
When options folks start feeling a bit more bullish they start taking off their bear hedges and/or start going long more calls (?) and it shows up (sometimes early and gradually) as a lift in the bull-spy-proxy XIV (like now?)
I would seriously appreciate confirmation or alternative interpretations, especially from $VIX and/or options/futures freaks
thx

[stucap]

so when do traders remember that it's friday and press the "oh sh!t i don't want to be long over the weekend" sell button?