05/23/2012 Live Update

[MrMiyagi]

More..

[Richarab]

here's the round bottom target.

7day rule. unreal

[Cobra]

Cobra you think more rebound tomorrow ,, or what is most likely tomorrow per what you see on charts/statistics ?

don't trade on this. FOR NOW, I think bulls have chances tomorrow, but still 20 minutes to go, bulls better have a very strong close.

[Al_Dente]

This is a CLASSIC "elevator squeeeeez" folks
And there’s still a bunch of minutes ‘till the close
oy
newbies: must watch sqz real-time 5min spy
oy

[Cobra]

again, this rebound has legs. bears, don't fight.

[cougar]

NUGT sitting at resistance, needs to clearly breakout here or could be concerning...

I was VERY, VERY lucky today, I bought NUGT at $9 and was out at $11. Very Lucky!!!

Very Nice!!!

Excellent, TG! Noticed it! You are good!

[rola]

[fehro]

trendlines

[Cobra]

wow, what a close!

[MrMiyagi]

I guess they did not get the "cancel power hour memo" so I will add my obligatory SPX 1500! comment.

[iamtom07]

Cobra, would you comment on GDX chart? thx

[rola]

Seven day rule still stand

[Al_Dente]

elevator squeeze rules (there are no rules; every sqz unique)
5min red stick that CLOSES red is suspect
If that red stick CLOSES below the low of the last stick = VERY suspect

If u are lucky enuf to be long inside this elevator
TAKE NO CHANCES, tighten stops, don’t b greedy
U lucky sob

[Mr. T]

Seven day rule still stand

I want a hundred day rule. One day down, 99 days up.

But only if I get the memo before hand.

[TWT]

SPX: This turnaround should be the initial stage of a wave (C) up

[Al_Dente]

elevator freaks are OUT
intraday blabla

[TraderGirl]

Tradergirl, - thanks for the chart on NUGT. I really look forward to your charts! - Brandyjoco

Thanks, I don't think they are that good, but I am glad you guys like.

NUGT looks like it's trading in a bear channel, needs to break above for the bulls, but it can easily trade to the bottom of channel again....

[TraderJoe]

I actually bought some puts on NUGT about 15 minutes ago.

[TraderGirl]

Al, here is your /DX with a higher high and neg d so far on TSI....

[Cobra]

well, guess that's it for today, judging by the close, I'll assume bulls have a little bit better chances tomorrow. Thank you guys, I'll see you tomorrow.