01/18/2012 Intraday Watering

[KENA]

The 50 ma and 200 ma are still moving in the right direction for crossing..If they cross this will be bullish for a few weeks.Look at the past charts.

[Jennyahwu]

Daily Updates

Gold http://www.99ercharts.com/archives/115
Silver http://www.99ercharts.com/archives/113

do u mean coopper still go up? thanks

[Auole]

After listening to Jeff B. on ThinkOrSwim now for couple of months....FINALLY, put some Regression Channels on and FINALLY, with a confidence I've not felt since beginning trading, put a 24 hour short on gold yesterday morning -top o'channel - and it came out okay. Of course EOD and about 3/4 down the channel and I prayed about holding short with trust decision that both ES and gold would double touch channel bottom 2nd time in the morning after overnighters ( Aaarrrgh. Taggard, SWalsh [Grandmother was a Walsh] I agree!!!) would and DID touch it once. Cougar, somehow you've helped me to just get over my reactionalismry and just try to figure out how to trade this QE and what all interventionalisms that are. This is part I very Dislike about in and out of these goofy ETFs. As my name implies I am Long Gold but realistically short in short season. Unless you are one of these here finely honed HTF ers here Mid-channel zone-very 99er scream zone for me. Adding some Fib fans and Fib % lines help.
Second chart is SPY 10-day 15 min. Regression Channel zoom-in.
Forever Yong Peter Pan Cobra, I'd like to know if you are going to do the dragon dance to help us be better traders next Chinese New Year?!! Meanwhile I literally gasped when I saw that '08 red bar when VIX and SPY both down together chart on last night's posting. Please let me know when that scary part is over and didn't happen.

[jarbo456]

was that a new high?

[Mr. T]

SPX

Attention all skiers.

"Attention all skiers..... the hill is closed. Proceed to the chair lift"

[Al_Dente]

Daily Updates
Copper http://www.99ercharts.com/archives/119
Crude http://www.99ercharts.com/archives/117

99er I always appreciate yr copper (and MANY others) as I only watch FCX not spot
Is it a bearish butterfly copper????

[KENA]

was that a new high?

Over shot a hair..The hi to break was 130 32.

[cougar]

I mentioned during the weekend that some savvy guys have already bought lots of highly “technical” short positions on TLT.
This has important implications…revealing their views on the desirability of equities versus treasuries, at the present moment.
I am ready to enter a similar trade very soon if this reversal gets legs:

[SWalsh]

If we ever get back to “normalish”

They are working on a medication for thinking that. I think it's a blend of an SSRI and strychnine

[cougar]

TLT daily:

[taggard]

imho, t

good luck with your trades

Yeah… Those bad drivers can mess you up...

A friend of mine was at the Milano Airport, getting his rental car in the parking lot, when he saw that super-cute blonde crying next to a car. It turned out that she was American and couldn’t drive a stick shift - the only car available…
So, my friend changed his itinerary, drove her around for one month, took her to the fanciest places…and married her. Later, she drove him nuts and took him to the cleaners… Obviously, she knew well how to get there..

good one, I though I got her good too

So, BullBear, one question remains to be answered: what was a super-cute blonde doing all by herself, at the Milano Airport, crying next to a car that she couldn’t drive?
She was probably setting a perfect bear-trap…and this is what we might be experiencing today.

maybe--worth watching is reaction to intc--history shows this is often key moment. most people here seem to be anticipating down soon--if so watch to see if intc is "stuck" due to exp action around 25-24. if what everyone expects to happen inverts watch for a gap up with intc having issues 26+ to 27. looking at past events it has taken 3-10 trading days for this move to play out. OFTEN SERIOUS DECLINES HAPPENED AFTER A MOVE UP WHICH WAS THE TOP.

also maybe it's worth noting they missed--"due to floods that messed up hard drive shipments" and thus will say april earnings will be great. the reaction is worth watching as the forward guidance here and perceptions of liquidity are really the key. while i am short--a monthly spx is looking fine for a move to 1350 to 1400 which in turn could set up a first half move to 1500ish.

as for the gal? odds are she couldn't help (be aware of) what she was doing any more than your friend can help (be aware of) what he was doing. again no disrespect (in fact the inverse--respect) to cougar--but again--this site is looking for any way to see a negative. certainly i hope this view is correct--but if everyone shorts into this and covers fast (on whatever) the whole thing continues.

a last point-most of the "analysts" or "strategists" appear (as best i can tell) to be arguing for 8-10% long. many on this site and others (eg serious traders using their own money) are pretty negative esp about the obvious (euro zone debt stuff as opposed to austerity). what most people (i realize you will find some but it's the numbers) are not suggesting is a strong move up to say 1450-1610 area. sentiment is tricky and can change fast. but right now if you are short like me--you are matching the poll expectations.

PAGING AL--thank you

Mr. Bachnut--again intc should impact thur/friday. but the idea that exp is not sucking but so far pushing is interesting. options dudes (both the dark side (market makers) and the white side (holders) must reset based on price action. so far we are rejecting (so exp is forcing us away) from the lower strikes. so we can learn something from this expected action not working (at least so far).

again blow off move up on intc could eventually get you some more serious top--short sell which shorts cover into not as nice.

[Cobra]

OK, I believe I made the first score. now let's see if any pullback after the breakout.

[Mr. BachNut]

I often take a look at JNK (high yield etf) for directional confirmation on what equities are doing. They generally will rise and fall together. So far in 2012, JNK is stuck in neutral.

[57chevy]

I'm indoctrinated in Elliott Wave Theory, so I can't help but try to chart this stuff.

The more I study the SPX wave movement from Dec 20, the more I believe today's action is completing only the 3rd wave of what should be a 5-wave series. In my view, that means there may be another week or so of action similar to that of the last week. IOW, a dip into the 1260s/1270s and subsequent rally. This wave structure doesn't mean there must be another high, but it means more bear torture.

[tdo722]

I'm indoctrinated in Elliott Wave Theory, so I can't help but try to chart this stuff.

The more I study the SPX wave movement from Dec 20, the more I believe today's action is completing only the 3rd wave of what should be a 5-wave series. In my view, that means there may be another week or so of action similar to that of the last week. IOW, a dip into the 1260s/1270s and subsequent rally. This wave structure doesn't mean there must be another high, but it means more bear torture.

Wave 3 just ended. Holy god that was long and treacherous.

[uempel]

Cycle, Fib, ellipse sometime around 13:00 pm:

[SB73]

FWIW, the wizard dude says he went short ES at 1295 with a target of 1262 and a stop of 1307. The current difference is about 4 points so that is 1311 and 1266.

[tdo722]

I call $130.52 (+/- a penny or two) the top of today.

[fehro]

trendlines.. a little higher? red? or blue?

[Al_Dente]

Taggard: dumb question: So INTC biggest chip maker in world is the BENCHMARK these days???
You know what I mean? Old days “as GM goes, so goes the mkt”
If not, what is?
Please don’t say BAC, they report in the am…
IBM sucks, etc

Also: Thanks sb73 and thanks tdo

Oy, are we to have another green day? Cobra says pullback, internals say this:
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

Green Day says this:
http://www.youtube.com/watch?v=JHa16644e-k