07/10/2012 Live Update

[Cobra]

strong close, bears had enough for today, so now is covering.

[Daniel-David]

SPY trying to close above the 20day sma

[dr659]

I get the impression that very few people on this board have lived through a real bear market.

I remember the 1970`s Bear, did not participate ( 1975 Grad) but remember well, If thats what you consider a real bear market.

[Mr. T]

This mini rally will hopefully ensure a gap down tomorrow

I doubt it. 5 points in 5 min.
By that calculation 1500 before the FOMC tomorrow.

[Cobra]

well, guess that's it for today. now we have the answer for my short-term evil plan, so no bother to blah blah here, this is on a little bit longer time frame than the next couple of days of course. for very short-term in the next couple of days, I won't be too bearish which I'll explain in tonight's report. Thank you guys, I'll see you tomorrow.

[Petsamo]

This mini rally will hopefully ensure a gap down tomorrow

I doubt it. 5 points in 5 min.
By that calculation 1500 before the FOMC tomorrow.

If you wanna buy, there are plenty of very oversold ETFs & stocks

[Tutti]

I get the impression that very few people on this board have lived through a real bear market.

2008 felt a little bearish to me

1987 for me

I was around for 2000.

[Mr. T]

This mini rally will hopefully ensure a gap down tomorrow

I doubt it. 5 points in 5 min.
By that calculation 1500 before the FOMC tomorrow.

If you wanna buy, there are plenty of very oversold ETFs & stocks

I'll pass......

[jdow]

Yes. I’ll hold short QQQ...

This mini rally will hopefully ensure a gap down tomorrow

[Al_Dente]

XIV also indicating further weakness....

thanks TG, always luv yr charts

[TraderGirl]

I get the impression that very few people on this board have lived through a real bear market.

2008 felt a little bearish to me

2000 bear market...anyone remember tech crashing all around?? I had clients worth 50 million in one minute, the next minute they were worth, $50....told them to diversify, but they kept saying "but it's going to go higher"...famous last words...

[jdow]

QQQ < 20 day ema. I’ll hold short ...

SPY trying to close above the 20day sma

[Al_Dente]

COBRA YOUR MM TARGET WAS AWESOME TODAY
as usual

[TraderGirl]

XIV also indicating further weakness....

thanks TG, always luv yr charts

Thanks Al, love yours too!!

Last minute rally had the TSI back off lower trend line...

[dr659]

I get the impression that very few people on this board have lived through a real bear market.

2008 felt a little bearish to me

2000 bear market...anyone remember tech crashing all around?? I had clients worth 50 million in one minute, the next minute they were worth, $50....told them to diversify, but they kept saying "but it's going to go higher"...famous last words...

Is a crash and a Bear the same thing? , Maybe he means a real Bear like the one that lasted from 1966 to 1982 were stocks went nowhere.

[OverUnder]

Ah, nuthin really.

[TraderGirl]

OK, NUGT coming back down to 78% retrace area again around 9.10ish...let's see if that area holds...if not then down to lower trend line around 8.50....
Edit: sorry wrong chart...oops!

[Petsamo]

QQQ < 20 day ema. I’ll hold short ...

SPY trying to close above the 20day sma

Since the Nikkei & Hang Seng dumped, they might rally tonight.
Since India & Europe rallied, they'll likely dump. Maybe I should've sold my EWP (Spain).

[Al_Dente]

PAGING TraderGirlfriend
http://www.youtube.com/watch?v=8WP1p3mUKDw

[Mr. BachNut]

I get the impression that very few people on this board have lived through a real bear market.

2008 felt a little bearish to me

1987 for me

I would not want to do another 1987. When we had the flash crash (May 6, 2010), I was thinking here we go again.