01/26/2012 Intraday Watering

[Al_Dente]

Comparing microcaps vs small caps vs spy vs equal weighted vs broad based to see who leads, if anyone.
http://stockcharts.com/freecharts/candl ... sp,$WLSH|A
This is not my chart, it is the “customizable” stockcharts.com candle glance chart…change it to “2 months” or etc, zoom in etc,
add other symbols (up to 10 symbols), save yr URL and re-check tomorrow etc

[soku]

when is the day of chinese god of wealth? how to celebrate that day?

busy eating my roast pork. it is so delicious. hope cai shen will be nice me, and everybody here.

http://en.wikipedia.org/wiki/Cai_Shen
He is often depicted riding a black tiger and holding a golden rod. He may also be depicted with an iron tool capable of turning stone and iron into gold.

[Al_Dente]

Rob Thomas & Joss Stone..... http://www.youtube.com/watch?v=sYyWdw-0 ... re=related

[traveltrey]

Howdy all,

I very rarely post, but read each day. One more thing to point out is that today's new high also closed the 2nd to last outstanding gap from the summer months highs. Today closed the 7/27 - 7/28 gap at spy 133.33. There is one more gap from the 7/7 - 7/8 island reversal top at 135.36 (spy). There is a lot of resistance/confluence at the 1334-1336 (spx) level:
1. trendline resistance from 2007 high to may 2011 high
2. the spx drop from 1370 (may 2011) to 1074 (oct 2011) was 295 points. Fib retracement of .886 equaled 1336 and if you look back at many of the retracement levels over the past couple of years, the .886 level seems to get hit quite often.
3. All of the 'topping' signals that Cobra has been pointing out for the past 2 weeks.

Thanks to all of your for all of the valuable comments that you post each day. I like reading/learning from each of you.

-TT

[Unique]

Well, lets hope that yesterday was an exhaustion bar with good volume, sell the open the next following day should not be a bad idea.

Nice find dude. Thanks

[usctrojan99]

Everyone seems to be too smart here and over thinking. If you feel a certain way (bearish/bullish), you can draw technicals that prove your point. Simple reason why I use technicals only as a reference point, but that is all. I follow the old adage don't fight the trend and use stops. It's worked for me thus far. Yes, we seem toppy but things can stay overbought of a while. I just feel too many people bearish, and I feel like this is a forum for Zero Hedge, as well. Sorry, my 2 cents, I am sure all the bears will call me stupid and naive. Well, I'd rather be stupid, naive and have $$ in my account. I was bearish in December and wrong, and turned bullish in January and I have made out handomsely. Trade what you see, not what you think. I know it's easier said than done. I am not making predictions, but Mr Market can turn on a dime. I am just a little more cautious, but I like that buyers are coming in and being dips.

Also, anyone touching TVIX and TZA deserves to lose their shirt.

[TraderGirl]

SLV.png

Can SLV jump over falling resistance, the 50% retracement, and this time cycle?

yes
well, she needs a breather, but I just can’t see much resistance until ~34.50 ?
http://screencast.com/t/Adyeer7fjB4

In 2010 SLV kept testing the 20 dma, as long as it stays above, I believe we are in bull mode. But we haven't tested since Jan 13, so it could attempt, should it stay above, I believe it's a buy...

[fehro]

careful... close-up view of my last 15m SPX chart

[TraderGirl]

Everyone seems to be too smart here and over thinking. If you feel a certain way (bearish/bullish), you can draw technicals that prove your point. Simple reason why I use technicals only as a reference point, but that is all. I follow the old adage don't fight the trend and use stops. It's worked for me thus far. Yes, we seem toppy but things can stay overbought of a while. I just too many people bearish, and I feel like this is a forum for Zero Hedge, as well.

Also, anyone touching TVIX and TZA deserves to lose their shirt.

I agree, it sometimes is a matter of "feeling", like I "feel" we hit the short term top today....

But, you can sit out on TVIX and TZA, while we make boatloads later this year....

[soku]

es at my target, w/o me.
not sure what's next. i think it may pop alittle. i will look for another chance to short

[Al_Dente]

Cobra
HEY
Your ChiO worked
maybe for another hour? another 60min bar?
(that’s one of my faves)

[BullBear52x]

Now that the Financial I followed confirmed the down trend (<5dma) but we should see another bounce at 14 on XLF, if XLF bounce general market should do too since the leading money is financial. let see what happen next I post more today on intraday be cause I feel a lot of people think TA is working no more, it is but we have to respect our own line whatever that may be.

[SigmaEcho]

careful... close-up view of my last 15m SPX chart

it'll probably bounce then. hs never seem to work for bears.

[taggard]

volume surge, may see rebound here. bears need pray. bears need one single day that the morning dip is not being bought. just one single day.

Some thing tells me there will be a ramp job to shake the bears out one more time before the market heading lower. within TWO hours, I can tell the market makers are mad as hell right now no volume for them to sell to balance

Do you really believe that some big guys tried to manipulate the market up to this point and now sell.

I don't believe anyone can manipulate the market.

yes, me too, it's all about economy.

one the road quick one--(1) cobra you mentioned you were considering price action only for everything. i can see that--but spending a limited (very) period of time on the larger picture stuff every day is a good idea too. i really enjoy the stuff and if were voting would vote "stick with it--but limit to the fewest possible charts--eg more ideas are not more useful. that's only my take of course. (2) re market tweaking--interagency working group-george stephanopoulous under clinton admitted the existence on tv. what i think is the key issue between the swash side and the "markets are free side" is time frames. There is no question weird stuff happens--but it is usually for short periods and key leverage points. and can be direct (some sort of futures stuff) or indirect (in some form increase liquidity).

the real issue is should we worry about this day to day. i would say from a trading perspective no. the whole point of technical trading is to "play it as it lays". however while i don't totally agree with swalsh--i think his overall point about corruption lack of ethics is an issue. however i see it as broad--eg the entire country has gotten used to the free ride--just as all empires have beginnings middle and ends--we do too. what was true for China Persia Rome England Germany short term etc will be true for us.

we really have to try to be truthful compassionate and kind to each other because in the end that is all there is--the idea that one can isolate one's self from events around one and stay clean is not an option for 99 out 100 people. in prison solitary time is used as punishment. and if placed in an isolation tank in the correct way and left there for 20-60 min most people will crack--due to the "lack" of incoming date to create a reference for their mind.

in short there is no clear limit to ourselves and what is around us--we are to some degree what we interact with. this is why people's opinions of the market shift with relative positions of the market and why most are bullish higher and bearish lower.

finally if all that doesn't get though--goog "Stanford prison experiment" which shows that we literally shift persona with perceived social postion.

so the short verison--(1) lets look for ways to see this degree of applicability of various technical trades--most should stick with the idea no front running. (2) lets not assume (as in the discussion over god's existence) if the markets can be or cannot be rigged at this exact moment--because 99% of the time we cannot know. (3) but let us take the best of what Swalsh is suggesting and try to operate with some ethical basis. (4) in the end compassion is the way since the earth is finite feed back loop in the sense of human interaction--in short what goes around comes around.

good day all and back to the road.

[TraderGirl]

Cougar, what do you think of EDZ at this point, looking at maybe 13.58 or so to take a short if/when it gets there....

[usctrojan99]

Everyone seems to be too smart here and over thinking. If you feel a certain way (bearish/bullish), you can draw technicals that prove your point. Simple reason why I use technicals only as a reference point, but that is all. I follow the old adage don't fight the trend and use stops. It's worked for me thus far. Yes, we seem toppy but things can stay overbought of a while. I just too many people bearish, and I feel like this is a forum for Zero Hedge, as well.

Also, anyone touching TVIX and TZA deserves to lose their shirt.

I agree, it sometimes is a matter of "feeling", like I "feel" we hit the short term top today....

But, you can sit out on TVIX and TZA, while we make boatloads later this year....

Looking at the chart of TZA/TVIX, holding has proved to be a disaster. It's a great ST trading tool, but holding it is a death wish. But, if you like to gamble and with a RSI of 30 (or sub 30 for TVIX) on the daily, I am sure you can gain 10-20% quick. Just make sure you are quick on the trigger. Good luck, I am not good enough to trade those instruments.

[TWT]

Hey, TWT, what do you think of the count on this move today???

We are at a potential reversal area (trend line resistance off the 2007 top)

It does not look impulsive, but lets wait for the eod print as the candlestick at the moment is a a shooting star

Bears need badly to push price below 1315 (ES)

As Cobra mentioned 2 consecutives eod lower prints are needed

[Cobra]

support and my 1st target met. good.

[Al_Dente]

Now ....we have to respect our own line whatever that may be.

I respect u baron, no shite, i would not miss a chart/post of yrs if my house was on fire....

[waverider]

But, you can sit out on TVIX and TZA, while we make boatloads later this year....[/quote]

It would be nice to see a trend line break on TVIX, I swear it will happen! lol. Meanwhile, BAC is at an important retracement level, it needs to punch through this gap: