06/30/2011 Intraday Watering

[HK88]

I would very much like to see the NYMO today, I am sure it will be overbought if we finish like this today, leaving almost no room for a beginning of month rally..

[Cobra]

interesting, it's still in the morning, already 7 pages.

Remember once you said that high volume of visit when market near bottom -- the essence probably many people (bulls) are in much pain there. Hope the opposite also works, near the top when also many poople, bears this time, are in great pain.

yes, bears are in pain but unfortunately, i don't have good news for bears. it's very very rare that the market reverse sharply here, so bears need a miracle here.

[shumushu]

I think very short term, the market is up. However, i've noticed something interesting today. The last few push up has tick reading below 700. Then the push up gets faded quickly. I think it suggests a weakness in strength. Definitely not falling yet. What is the seasonality of July 1st

[99er]

30-Year Bond
Ben needs a miracle.
http://99ercharts.blogspot.com/2011/06/30y_30.html
Bonds are much more important to those that count than any equity.
Calling all Primary Dealers right now I bet.

[StrikePrice]

interesting, it's still in the morning, already 7 pages.

Remember once you said that high volume of visit when market near bottom -- the essence probably many people (bulls) are in much pain there. Hope the opposite also works, near the top when also many poople, bears this time, are in great pain.

yes, bears are in pain but unfortunately, i don't have good news for bears. it's very very rare that the market reverse sharply here, so bears need a miracle here.

I'd been quiet recently (6/14 - 6/28) because of the big moves in volatility are great for trading like crazy. Last two days it's just sit and watch grind higher so very little to trade. I want the volatility back! (as does the bears)

[uempel]

uempel:

Thanks for the heads up; always find your BP charts helpful.

But my charts say "sell."

My coffee maker, however, has yet to say a word.

Well, if 1320 breaks to the upside I don't see strong resistance beneath 1330 - 1340ish...

[Tabby]

uempel:

Thanks for the heads up; always find your BP charts helpful.

But my charts say "sell."

My coffee maker, however, has yet to say a word.

I think my expresso start pffffffffffffing. It might be a false piffffffffing, lets see. Cougar, how is your expresso machine ?

[Tabby]

It might be false alarm in TZA.Waiting to see what is happening

[HK88]

Come on guys, if you step on it a little more, we will end the quarter flat

[angrybear]

interesting, it's still in the morning, already 7 pages.

Remember once you said that high volume of visit when market near bottom -- the essence probably many people (bulls) are in much pain there. Hope the opposite also works, near the top when also many poople, bears this time, are in great pain.

yes, bears are in pain but unfortunately, i don't have good news for bears. it's very very rare that the market reverse sharply here, so bears need a miracle here.

cobra laoda why dun u trade the es instead of the spy?

[endangered510]

EUR/USD and S&P meeting strong resistance at the same time.

[99er]

SPX
Jaime?
http://99ercharts.blogspot.com/2011/06/spx_5187.html
Now.

[Cobra]

interesting, it's still in the morning, already 7 pages.

Remember once you said that high volume of visit when market near bottom -- the essence probably many people (bulls) are in much pain there. Hope the opposite also works, near the top when also many poople, bears this time, are in great pain.

yes, bears are in pain but unfortunately, i don't have good news for bears. it's very very rare that the market reverse sharply here, so bears need a miracle here.

cobra laoda why dun u trade the es instead of the spy?

I trade ES. I show you spy chart is because it's convenient to show. besides, trade leveraged ETF has some good points which I explained before, mainly because it's easy to hold both direction during the trend transition period.

[rhight]

NY low volume day. End of quarter near, 401K statements, etc. going out. Last quarter finished about SPX 1325 and near that now. Stock mutual fund outflows this past quarter. USD dollar 4 day downtrend mirrors SPX uptrend. No high TICK since 10AM. TICK & TRIN nuetral. No selling yet. Has the mission to stem the mutual fund outflows been accomplished? Mutual fund flows second hand news, can anyone confirm? After typing all this I see HK88 just said something similar, oh well, bears repeating.

[AK84]

interesting, it's still in the morning, already 7 pages.

Remember once you said that high volume of visit when market near bottom -- the essence probably many people (bulls) are in much pain there. Hope the opposite also works, near the top when also many poople, bears this time, are in great pain.

yes, bears are in pain but unfortunately, i don't have good news for bears. it's very very rare that the market reverse sharply here, so bears need a miracle here.

cobra laoda why dun u trade the es instead of the spy?

I trade ES. I show you spy chart is because it's convenient to show. besides, trade leveraged ETF has some good points which I explained before, mainly because it's easy to hold both direction during the trend transition period.

which lev ETF do u use to trade?
SPXU ?

[endangered510]

Intermediate term is a concern for me b/c the volume of insider selling recently has been very high compared to the level of insider buying.

[Cobra]

very first touch of EMA20 for more than 2 hours, should be a long setup somewhere around here. the thing not good for bulls are green and pink.

[oldpigwang]

"it's very very rare that the market reverse sharply here, so bears need a miracle here."
Look at chart, many times huge rally on 7/4, then huge gap down after 7/4. Be prepaired.
But this time, the post 7/4 game may be gap up=final top, then down. Since toooooooo many put need tobt killed.

[rhight]

USO been diving since 11am. What's the news?
Answering my own post, from Zero Hedge :
"Per Reuters: "The International Energy Agency could decide by mid-July whether the release of strategic oil reserves needs to be extended for a month or two, an official said." And there is that transitory word again: "Richard Jones, deputy executive director of the IEA, said he believed the release would be temporary since demand would likely drop in the fourth quarter."

[stockcycle]

I want to sell. Seems pull-back is the next day. My 5' 10' and 15' charts telling me sell. Anyway I only expect 2 or 1.5 days in red.