10/07/2011 Intraday Watering

[BullTart]

Looks like they are setting up another juicy bear trap again people. Be careful out there.

I'm out and watching on the sidelines after cashing in on 3X S&P Long UPRO positions yesterday at the close.

I am very bearish in general and am preparing for the trip back down to test the 2009 lows.

At the same time, we are in a counter-trend cycle, and given its strength and the way it started, it has more room to go before we start the real impulsive leg down.

I might re-enter 3X S&P Long UPRO positions again after they pull the trigger on this bear trap.

If we just collapse from here, I'm ready to get back into my TVIX positions again, but that is the less likely outcome.

[soku]

support around es 1154-1155. it seems a successful test for me. plan to short on pop

[KENA]

Retail still up..UTIL still up I cannot go against these two for now.Lets see if they will turn the mkt stronger..If not I my go with BB52x.Wait and see.

SPY is at Cobra's last green line.

Yes and it is having problems breaking down..Lets see

[BullBear52x]

Hi guys. Great board!

BullBear52x, why do you trade TZA versus TVIX?

If we are going into a recession "IF" small cap will hurt the most.

[cougar]

My swing trade:
* bought SPY Oct 22, 115 puts: progressively, as they were getting cheaper
* just finished selling (to open) SPY Oct 14, 115 puts on the way UP.
Average spread cost < $0.70

[jarbo456]

let's get a good break of 116, though i don't think it'll happen the first test.

will consider adding to shorts on a good bounce off 116.

[tdo722]

oh my god, I am such a turtle today. Bought short at 1162. So late to the game. Could have made $0.50 a share on SDS already by now. Not happy.

[agnosia]

triangle consolidation on /es and /cl 5min.. which way is it gonna break ??

now head with right shoulder - target on /es 1146

same pattern in crude 81.50 target. i am short 83, /es 1159, stop even.

[janez]

If you can't lose, you can't win.
That is what I found.

[tdo722]

Let's vote. who is brave enough to hold long over the weekend?

[Grizzly]

BullBear52x, super call and timing on this down move !!!!! (rating 5 of 5).

[BullBear52x]

BullBear52x, super call and timing on this down move !!!!! (rating 5 of 5).

luck must has it.

[tdo722]

bullbear52x, are you in TZA yet? I got 1000 shares in SDS with a stop at today's high which is 1171, maybe I should move to 1173 which is the high for ES this morning.

[billow]

spy 60 min chan lower bound touched

[BullBear52x]

bullbear52x, are you in TZA yet? I got 1000 shares in SDS.

yes sir.

[brownstein00]

spxu nice play as well

[tdo722]

When did you enter? 672?

[CognitiveDissonance]

Looks like they are setting up another juicy bear trap again people. Be careful out there.

I'm out and watching on the sidelines after cashing in on 3X S&P Long UPRO positions yesterday at the close.

I am very bearish in general and am preparing for the trip back down to test the 2009 lows.

At the same time, we are in a counter-trend cycle, and given its strength and the way it started, it has more room to go before we start the real impulsive leg down.

I might re-enter 3X S&P Long UPRO positions again after they pull the trigger on this bear trap.

If we just collapse from here, I'm ready to get back into my TVIX positions again, but that is the less likely outcome.

I'm with you on that. This looks like a pullback. Waiting for some signals toward the end of the day.

[PhilM]

When did you enter? 672?

Any target for how far this downdraft goes?

[Al_Dente]

Okay then
Nice reversal bears, NYDEC strong 1900
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =245336889
All mkt board turns red except dow
Banks lead down