03/21/2013 Live Update

[1der]

Hope this isn't the Bulls firing yup the BBQ for some lunchtime Bear Burgers

[jademann]

This price action looks fishy and smells like a Big Bull Trap
I'm not buying it ...yet anyway. Scaling into a few SPY puts: chart:

first time seeing use option price to chart the market. interesting. thanks

I've found it to be an interesting way to analyze potential price direction.
Sometime options charts eliminate noise associated with the underlying symbol
As you'll see various pricing divergences which can be telling of MM's positioning(temporary)
thanks for noticing but...use at your own risk!!

thanks toddy, where can I chart option like that?
Thanks!

[Cobra]

OK, wrong about double bottom, now it's Measured Move. I'll watch, not clicking with the market today...

[TumblingDice]

GDX is at a critical juncture now. If it can hold 38 for the close then there may be more room to run.
SPY right now is smack down in the middle of its range for the week. Could go either way but a break of 156.8 or 153.6 should indicate direction. Doubt that will happen this week though.

Hi new guy/gal
http://www.youtube.com/watch?v=hBlB8RAJEEc

Howdy! Allow me to intruduce myself:
http://www.youtube.com/watch?v=6U8JlcB_BzA

GDX is breaking out on decent volume at the moment.

SPY is showing a lot of weakness but there is still support around 154 and until it clears betting one way or another is just a guess.

PS...
Guy

[Out of Bounds]

Hope this isn't the Bulls firing yup the BBQ for some lunchtime Bear Burgers

[McEnroe] You can not be serious[/McEnroe]

[Out of Bounds]

GDX is at a critical juncture now. If it can hold 38 for the close then there may be more room to run.
SPY right now is smack down in the middle of its range for the week. Could go either way but a break of 156.8 or 153.6 should indicate direction. Doubt that will happen this week though.

Hi new guy/gal
http://www.youtube.com/watch?v=hBlB8RAJEEc

Howdy! Allow me to intruduce myself:
http://www.youtube.com/watch?v=6U8JlcB_BzA

GDX is breaking out on decent volume at the moment.

SPY is showing a lot of weakness but there is still support around 154 and until it clears betting one way or another is just a guess.

PS...
Guy

20 day SMA is 153.92

[SigmaEcho]

OK, wrong about double bottom, now it's Measured Move. I'll watch, not clicking with the market today...

"this bear has legs' ?

[MrMiyagi]

"this bear has legs' ?

Paws. 4 of them.

[SigmaEcho]

"this bear has legs' ?

Paws. 4 of them.

[TraderGirl]

Makes sense that they would prop this thing up into quarterly earnings...end of quarter...

[TraderGirl]

GDX is at a critical juncture now. If it can hold 38 for the close then there may be more room to run.
SPY right now is smack down in the middle of its range for the week. Could go either way but a break of 156.8 or 153.6 should indicate direction. Doubt that will happen this week though.

Hi new guy/gal
http://www.youtube.com/watch?v=hBlB8RAJEEc

Howdy! Allow me to intruduce myself:
http://www.youtube.com/watch?v=6U8JlcB_BzA

GDX is breaking out on decent volume at the moment.

SPY is showing a lot of weakness but there is still support around 154 and until it clears betting one way or another is just a guess.

PS...
Guy

H
Howdy do...

[1der]

Hope this isn't the Bulls firing yup the BBQ for some lunchtime Bear Burgers

[McEnroe] You can not be serious[/McEnroe]

OOB - Not seeing a strong enough effort by the Bears and NewHighLand is so close for the Bulls. Add a little more fuel with one more shake out (third push down) and then ES bounce to 1560 area. Just watching right now. I need to see a strong break of LOD.

[toddymc]

This price action looks fishy and smells like a Big Bull Trap
I'm not buying it ...yet anyway. Scaling into a few SPY puts: chart:

thanks toddy, where can I chart option like that?
Thanks!

Heh heh heh... trade secrets my friend.. ! just kiddin'
TOS has pretty good options charts through their Prophet application.
Here's a view of ES with some resistance areas .. those white lines are Gann levels basis 15min.
Betcha we don't clear 1545 on this next bounce.!!

[Al_Dente]

GDX is at a critical juncture now. If it can hold 38 for the close then there may be more room to run.
SPY right now is smack down in the middle of its range for the week. Could go either way but a break of 156.8 or 153.6 should indicate direction. Doubt that will happen this week though.

Hi new guy/gal
http://www.youtube.com/watch?v=hBlB8RAJEEc

Howdy! Allow me to intruduce myself:
http://www.youtube.com/watch?v=6U8JlcB_BzA
GDX is breaking out on decent volume at the moment.
SPY is showing a lot of weakness but there is still support around 154 and until it clears betting one way or another is just a guess.
PS...Guy

Cool
now could u find a good craps dice avatar (or gold bars would be ok too)
dude U might fit right into CobraLand
http://www.youtube.com/watch?v=ZeqZl6Og ... re=related

[Out of Bounds]

closed short 154.56. I think we'll go lower but we are clearing the lines I would like to see crossed. So book profit here.

[TWT]

$SPX: The Potential Zig Zag down from yesterday´s hod

[BullBear52x]

AAPL

[Out of Bounds]

Hope this isn't the Bulls firing yup the BBQ for some lunchtime Bear Burgers

[McEnroe] You can not be serious[/McEnroe]

OOB - Not seeing a strong enough effort by the Bears and NewHighLand is so close for the Bulls. Add a little more fuel with one more shake out (third push down) and then ES bounce to 1560 area. Just watching right now. I need to see a strong break of LOD.

dammit I closed my shorts too soon and for the very reason you cited. i also did not see enough downward push. oh well, still had a very good day

[uempel]

Long term chart shows how SPX did not manage to break the 1560 area. In close-up we see how SPX spent only one week above the dotted blue threshold

[taggard]

Makes sense that they would prop this thing up into quarterly earnings...end of quarter...

maybe the issue is more Cyprus. the logic being either the problem solves itself (they get the money together) or ECB stops funding and thus central banks short term--have to support the markets to avoid systemic issues. either way it makes your and uempel's aprox price/or time (depending on person) interesting. major pull backs in spx often have monthly bars that sort of match--up at the highs. if in fact your 200 point call is valid--that would fit my idea of 1-3 months on a monthly spx. i think earnings and esp guidance are going to seriously screw up the typical perception that "stuff is all getting better". further generally according to dudes that actually get into this stuff--deals like the federal stuff done in jan--impact 1-2 quarters later in this case the april june quarter.

still further--Cyprus blowback is one thing--spain italy prtugal and france is another. lets see how next week trades--but i am warming up to your call although less exact in my timing and price.