02/09/2012 Intraday Watering

[waverider]

Dr Al, Will all these divergences every play out?

VIX daily is at the critical bolinger centerline again
Will she make or break it this time?
http://stockcharts.com/h-sc/ui?s=$NYAD& ... =254390001

nyadv 1400
nydec 1500
better odds vegas?

Good question Al, if you draw a trendline from the Oct high, it's sitting in the middle of it. We need more information?

[Petsamo]

I see a double top on SPY

[THAT GUY]

I see a double top on SPY

sell longs ?

[SWalsh]

It sure looks like the HF's are controlling the mkt.

I speak to a few people during the day who have done very well using EW for years. This is what one e-mail just said, given that we have a clear leading diagonal down from this morning's opening, and that is one of the best patterns you can get to trade a retracement off of:

E-Mail: "This is becoming patently absurd at this point. They do anything they like and no one can stop them"

[KeiZai]

Jumped somebody into IPSU with me? Still rocking

[Cobra]

testing the morning high, key time. let's wait. lunch time, will be back.

[Petsamo]

I see a double top on SPY

sell longs ?

I'm not 100% long. That means I'm bearish

[Al_Dente]

SB
Just BTFD until further notice, right?

TVIX may try again
She’s still a buy on my “I dare you” radar

Im on ZSL now, just broke out 4 scalp, we’ll see
She’s another wench
Also counter
I’m tempting fate
Quickie and small

[BullTart]

VIX up 1.4%

VXX up 3.3%.

TVIX up 6.7%

It's getting expensive to buy protection in case something happens in the near future. Options traders are thinking something not too pleasant is going to happen in the near future.

As we approach that near future date, VIX will start rising. Spot VIX will follow suit.

On the weekly ES chart, we've got SIX straight green weekly bars in a row. This is near the end, even if you consider prior QE1 and QE2 eras.

Going long now with SIX straight weekly green bars is total lemming / joe sixpack kind of mentality.

Which is why buyers will dry up soon. And with the VIX short term structure rising rapdily, the smart money is already beginning to price in protection in the near future, as in the next week or two.

[Cobra]

my guess is there should be at least another try on the morning before a pullback of some kind is possible.

[Me XMan]

Brakes being applied to the bulls?

[shumushu]

I exited my short on IWM and now long at 82.30. with a stop at 82.

[SWalsh]

It sure looks like the HF's are controlling the mkt.

I will correct you ...PPT(plunge protection team) is controlling via HFT

Well, I haven't wanted to use PPT (but since you mentioned it) as I'm sure some people without sufficient understanding of what markets traded like, and what patterns used to do, laugh at that kind of talk despite the fact that it perfectly legal under the National Security Act to do whatever is necessary to ensure THEIR domestic tranquility.

[waverider]

Jumped somebody into IPSU with me? Still rocking

Woulda bot when it retraced 50% from the open to the high, I wouldn't chase it. Look at the hourly, it's a doji.

[usctrojan99]

I bought 2/18 134 Weekly SPY puts at .67.....10 contracts

[SB73]

TVIX and SPY both working on Ascending triangles both looking to break higher. This should be interesting.

[BullTart]

I'm not a doomsday fear monger, but I'm beginning to accept the possibility of another flash crash type of event in the near future.

This kind of price action is eerily reminiscent of the run up leading to the flash crash.

And don't forget, it was news of the Greek street riots two years ago that supposedly triggered it.

And here we are two years later, with Greece once again in the spotlight, with the stock market doing it levitation act.

Flash Crash v2.0 in the coming weeks is not likely, but very possible.

[BullBear52x]

TNX is selling now.

[jarbo456]

I bought 2/18 134 Weekly SPY puts at .67.....10 contracts

i thought you were the "go long and strong" party...

what's the basis of the puts?

not a terrible gamble as the pay-off is quite high.

however, i'm not seeing the price action to support buying puts yet...

for the longer swing traders, the key level looks to be 133 to me (the previous test of the "key level" was a bear trap...i don't think we'll have another such trap). just my opinion.

[SB73]

I'm not a doomsday fear monger, but I'm beginning to accept the possibility of another flash crash type of event in the near future.

This kind of price action is eerily reminiscent of the run up leading to the flash crash.

And don't forget, it was news of the Greek street riots two years ago that supposedly triggered it.

And here we are two years later, with Greece once again in the spotlight, with the stock market doing it levitation act.

Flash Crash v2.0 in the coming weeks is not likely, but very possible.

Does aapl go up in a flash crash scenario?