05/17/2012 Live Update

[snakehead]

P.S. Will keep my eyes on UVXY tomorrow, will be a buyer if it pulls back to 18 -ish.

Why I am so sure market will bounce tomorrow (OPEX) ?
Hint: What is the probability that crooks will be crooks -- big boys screwing people out of their put profits??
(Max pain)

[uempel]

its not bouncing mr.upmle

Mr. Richarab, let's see if market bounces tomorrow. I've got all kinds of indicators for a bounce, e.g. this system:

[KeiZai]

Hi folks, update of chart I posted in the WW

download/file.php?id=20171&mode=view

In the target zone, now it is getting interesting bounce next?

[snakehead]

I just find it hard to believe that there will actually be sheeple lining up to be fleeced tomorrow.

[su_root]

its not bouncing mr.upmle

Mr. Richarab, let's see if market bounces tomorrow. I've got all kinds of indicators for a bounce, e.g. this system:

tt.png

The last 2 days, the risk for a flash crash has grown significantly (on a 1-10 scale, I now put the risk @ 6-10 when it was at the beginning of the week @ 2-10). My main concern is now, if I read the tape correctly, that it seems "big money" have covered (at least some) shorts. It did provide a smallish rebound intraday but it did not get the usual "up-momentum" it should have provided to set off a rally.

Yes, classical TA is oversold but oversold can get more oversold and there we are. I did not see this strong move down coming and thus took short profit too early (/YM @ ~12600). Now I can simply not figure out what could set off a rebound but the following: good news (trigger loose short stops?), Ben and his team. How likely to get good G8-news or some uber positive views from Greece or otherwise troubled Europe? So I guess we are in the hands of some magic OpEx action then..?

I'm also waiting for a rebound but I do not dare to play long swings when flash crash signs are rising. Missed money better than lost money.

Good luck!

[snakehead]

That would be a very bad sign indeed if "they" cannot lift the markets to cause 'max pain' for options expiration.
Then again, I do remember an op-ex day last year (was it in July or August) when TPTB could not stall a sell-off on
Op-Ex day.

[su_root]

That would be a very bad sign indeed if "they" cannot lift the markets to cause 'max pain' for options expiration.
Then again, I do remember an op-ex day last year (was it in July or August) when TPTB could not stall a sell-off on
Op-Ex day.

Have you followed the max pain, what I have noticed is that usually we don't get even near the "max pain" levels?