09/02/2011 Intraday Watering

[EvilTrader]

Thought For The Day

"I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms."


http://www.businessinsider.com/the-tk-b ... aid-2011-8#

I admire Tudor Jones.

Did you see the TRADER documentary ? very cool.

But his trading style is definitely not for amateurs or for the faint hearted.

Right now im bearish biased, looking for a retest of the lows.

Its a bear market guys...nothing changed yet .

Strong moves up and down are expected. Unless bernanke explicit starts QE3... volatility is likely to remain high.

I will be selling highs for a while...with tight stops...cheers to John Tudor Jones style...

[auger]

I will be selling highs for a while...with tight stops...cheers to John Tudor Jones style...

Paul Tudor Jones

[quientuves]

Is it going to move in a range bigger than 1 point any time? Or better we go to sleep? This calm breaks my nerves...
I`m long... and tembling...

[jimmythegeek]

Just saw this quote (from Paul Tudor) a few days ago as I was flipping through my copy of "Market Wizards". For those looking at book lists earlier in the week this is definitely a good one. Easy reading with lots of distilled trading wisdom from people who have taken a lot of money from the rest of us!
Guessing that a lot of people will be heading to the Hamptons or other places I will never be for the long weekend, so assuming that they are all short, will there be a bit of a rally shortly as they even up for the weekend?

[waverider]

Doesnt matter about the news. Was a clear Bear Flag in the forming on the weekly with SUPER STRONG resistance at 240.[/quote]

Then look at the divergence between QQQ and NFLX, QQQ fell harder in the past two days, and NFLX was down 11% from close while QQQ was down only 2.1%.

[EvilTrader]

I will be selling highs for a while...with tight stops...cheers to John Tudor Jones style...

Paul Tudor Jones

you are right, of course...

maybe i confused him for John Paul II, the late pope...

[auger]

I will be selling highs for a while...with tight stops...cheers to John Tudor Jones style...

Paul Tudor Jones

you are right, of course...

maybe i confused him for John Paul II, the late pope...

I thought you were listening to some Zeppelin, or something (John Paul Jones)

[PRI]

RUT futures are less than $1.50 off their low.

[CognitiveDissonance]

Long term GS à la Gannoise: maybe…reversal at the 8 moths vibration…

Fantastic charts Cougar, thank you!

[DAB]

Am I seeing things....I do not remember seeing this SPY spike 2 days ago.

[uempel]

Thought For The Day

"I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms."


http://www.businessinsider.com/the-tk-b ... aid-2011-8#

Tudor is a nervous wreck, hope he does not end like Jesse Livermore. These Hedge Fund managers have a tough job. Recently saw a picture of Paulson in the FT. He does not look very happy...

To catch tops or bottoms on the chart ain't that difficult - it's the trading part which is extremely difficult. The market always wants to confuse. Very often I've been long or short at the right spot - and the market got rid of my position. Last time it happened Wednesday, market caught my SL by 0.25 cents. Seconds later the move which I had anticipated was all go... I missed the boat as I was not in front of the screen. Hey, I need some food from time to time, and a beer too

[99er]

Surf's Up!
SPX http://99ercharts.blogspot.com/2011/09/spx_4794.html

And look...Honey surfing!

http://www.youtube.com/watch?v=--BQ8DeLf9s

Have a nice weekend.

[Cobra]

lunch time. very boring day, if this is going to test the morning low the 3rd time, it shouldn't hold. I don't know.

[cougar]

So…according to their expert posts, it looks like “AK84” and “waverider” shorted NFLX…
Congratulations to both of them!!!

I have one observation: most intelligent and original technical analysts I know are also very astute speculators of fundamentals and news - real and fabricated. The famous sentence” news don’t matter” is an “ego trip” that they put in the preface of their books, destined to sell a lot. The really good “salesmen” among them accompany this statement with another one: “ It doesn’t matter if you have a 2-digits IQ, and never had any math in your education…just use the tricks I’ll teach you…”
And then comes: ”…500 bucks for the course…por favor”

[biotrader]

Cobra..LOL. Whos long here? Who's short?

[zudec]

short biased - - but playing it both ways by see-sawing TNA / TZA and SDS / DDM

[jaijailyc]

I went short @ 1184.5, at around 11 or 12, its a real slow day. But most Fridays been this way the past couple of weeks. (my first post)

[ultramarine]

Cobra -- do you think a break below the morning low necessarily means a quick trip to 115-116 of could it simply back test the triangle resistance line a little further over? This would produce a lower low on the day but it may not be by very much.

[frankthetank]

just bought some spy calls 1190

[frankthetank]

just been scalping in this see saw zig zag market