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Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 9:33 am
by wxstone
cletus wrote:Headlines:
* Today's S&P turns are at 10:30 EST and 1:15 EST
* Nat gas may be ready to bounce (but I'm not betting on it). We are now neutral on natural gas.
* Oil faces serious headwinds for the next few weeks, expecting more range trade or downside (but not betting on it).
* Gold could face weakness if this wedge breakdown and h&s targets are met, not sure what impact this implies on the broader markets, you'd think it means stronger dollar weaker stocks, though it's not a sure thing. I remain short gold but I wouldn't necessarily recommend the trade to anyone at this point. Convergences at GLD 145.
Hi,Cletus.How can we predict the cycle turn?
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 9:34 am
by Sqwii
Pretty good possibility we will see a water fall to 1250 or so over next 2 days
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 9:35 am
by cletus
wxstone wrote:cletus wrote:Headlines:
* Today's S&P turns are at 10:30 EST and 1:15 EST
* Nat gas may be ready to bounce (but I'm not betting on it). We are now neutral on natural gas.
* Oil faces serious headwinds for the next few weeks, expecting more range trade or downside (but not betting on it).
* Gold could face weakness if this wedge breakdown and h&s targets are met, not sure what impact this implies on the broader markets, you'd think it means stronger dollar weaker stocks, though it's not a sure thing. I remain short gold but I wouldn't necessarily recommend the trade to anyone at this point. Convergences at GLD 145.
Hi,Cletus.How can we predict the cycle turn?
They are just predictions and don't always work. It's based on a theory though. I wouldn't want to mislead anyone and show how.
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 9:39 am
by Cobra
here's what i mean: a sharp reversal means H&S Bottom, then the old days are back, let's forget about there's ever in this world a word called "bear". so bears are not out of danger yet...
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 9:44 am
by cletus
CPCE remains elevated. This is a historically extreme level.
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 9:45 am
by Sqwii
30 min chart and 60min chart both way overbought still on charts - need at least to see a bottom or begin to get oversold soon - so I think more downside today , if not - markets should stay around here sideways for some hours before going up- all imo
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 9:48 am
by quientuves
Did you remember that Pr*shares ETF called Ultra-Cobra? Well, yesterday this forum reached a new high in users online...
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 9:50 am
by KENA
FYI...Schaeffers has come out Bearish on BAC..C..XLF..Lets see
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 9:51 am
by BBFinance
The market is run by the HFT bots and their algo is linked with Euro. So if we can find out what is happening to Euro, we would be able to predict the market movement, till such time the manipulators are able to continue.
Anyhow, they will try to take the SPY past 130 by op. expiration
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 9:53 am
by wxstone
cletus wrote:wxstone wrote:cletus wrote:Headlines:
* Today's S&P turns are at 10:30 EST and 1:15 EST
* Nat gas may be ready to bounce (but I'm not betting on it). We are now neutral on natural gas.
* Oil faces serious headwinds for the next few weeks, expecting more range trade or downside (but not betting on it).
* Gold could face weakness if this wedge breakdown and h&s targets are met, not sure what impact this implies on the broader markets, you'd think it means stronger dollar weaker stocks, though it's not a sure thing. I remain short gold but I wouldn't necessarily recommend the trade to anyone at this point. Convergences at GLD 145.
Hi,Cletus.How can we predict the cycle turn?
They are just predictions and don't always work. It's based on a theory though. I wouldn't want to mislead anyone and show how.
k,thx,Cletus
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 9:57 am
by TrendTrade
We hit the target circle yesterday and fell back down. I would expect a final move to the green circle area but I think the route getting there will be up and down very tricky. Definitely my "big buy" zone though.
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 9:58 am
by cletus
I'm heading out but I'll suggest that the best time to go long today might be around 1:15 EST because I do expect today to be a down day so might as well wait till later in the day to buy.
However, perhaps the best opportunity will be at Thursday's close to go long (the entry that you will have to sweat the least).
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 9:59 am
by HK88
Trying to clear 1280, critical here
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 10:10 am
by Cobra
no clue what the market is doing, I'll assume the rebound target at least is the EMA20. Again, bears must be cautious here...
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 10:14 am
by cletus
Sorry, one more statistic LOL
Buy on day 16 (or middle of the month) for the last few months, sell at close of month
S&P
March 16: 1256
March 31: 1325 +69 pts
April 18: 1305
April 29: 1358 +53 pts
May 16: 1327
May 31: 1345 +18 pts
Total strategy gains in prior 3 months: + 140 pts
Food for thought!
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 10:14 am
by HK88
Cobra wrote:no clue what the market is doing, I'll assume the rebound target at least is the EMA20. Again, bears must be cautious here...
Based on your rule of thumb, it appears that close will be > open, it is almost 10.30pm
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 10:15 am
by TrendTrade
Cobra, do you use the 20 ema on the 5 minute as important support/resistence area on intra-day trading often?
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 10:18 am
by Pharmboy
cletus wrote:Sorry, one more statistic LOL
Buy on day 16 (or middle of the month) for the last few months, sell at close of month
S&P
March 16: 1256
March 31: 1325 +69 pts
April 18: 1305
April 29: 1358 +53 pts
May 16: 1327
May 31: 1345 +18 pts
Total strategy gains in prior 3 months: + 140 pts
Food for thought!
June 20 is $10B in POMO as well, so might be worthwhile to buy tomorrow for that run up. Thx.
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 10:23 am
by luckystar2006
Does anybody know what is wrong with CZM/CZI (direxion daily china bull/bear 3x shares) today? Thx.
Re: 06/15/2011 Intraday Watering
Posted: Wed Jun 15, 2011 10:28 am
by pidge66
Pharmboy wrote:
June 20 is $10B in POMO as well, so might be worthwhile to buy tomorrow for that run up. Thx.
Thanks for the heads up. I didn't realize they sneaked in 2 POMO entries on the 20th.