10/24/2011 Intraday Watering

[KENA]

I am bear.
Sell sell sell

This mkt could go to 1265 the 61.8 fib..May be to early to be all bear.

[seekingknowledge]

OR breakout, so far very strong morning. normally a strong push up like this should at least be 2 legged, so the very 1st pullback to EMA20 is buy.

Mark this post of Cobra's all newbies. You are being given a very important tip to BUY at this first pullback. As always, thanks, Cobra, for keeping all on the right side of the trade.

[Cobra]

Forgot to say. OR breakout target: 125.66, 75% chances.

[BullBear52x]

I am bear.
Sell sell sell

This mkt could go to 1265 the 61.8 fib..May be to early to be all bear.

if it doesn't go my way I am out, I know too many smart guys are shorting and the shark can smell the blood, but the sharks themselves can only push this up so much before they consume their own.

[Al_Dente]

PAGING MICHELLE: u want weekend homework copper?

I'd love it.

ATTENTION MICHELLE, ALL OTHERS MOVE ALONG, NOTHING TO SEE HERE
Odd Shenagians in China’s copper industry. Copper SCRAP is being offered at a higher price in Guangdong than the REFINED copper price in Shanghai, according to an unnamed “smelter source”. [The smelters are the guys that take copper concentrates and convert them into “refined” copper]. The smelters are now slowing production, as their refining charges [their margins] have dropped due to volatile copper prices; some smelters have shut down “for October maintenance.” Hey, if they can’t make a buck, they ain’t gonna play; who can blame them !
Only the (copyright) Schwab TA Weekly rating has changed from last update to you (two weeks ago): upgraded (Friday) from “Avoid” to “Neutral:” If u are short, hold, do not initiate new short sale, macd turned bull, volume indicates accumulation.
Ned Davis still neutral, with interesting data: “FCX appears undervalued based on its Price/Earnings (TTM) of 6.22, which is less than the Materials sector’s bottom quintile value of 10.06…. FCX underperforms the SPX 43.75% of the time in October, with an average excess return of -3.36%”.
Cr Suisse still “Outperform” …they see growth post-strikes… “look past the near-term noise”…. big capex in 2012, etc.
So… perhaps let’s just rely on the charts for clarity, shall we? Take your FCX daily chart, overlay ECH and JJC and FXI (or a better China proxy), then run “correlation coefficient” indicators… see how crucial Chile and China are to copper, no? [Peru EPU and Indonesia IDX maybe less so?]… Well sure u say, everything correlates with everything nowadays…when u run that chart, page me and we’ll go the next step….
[full disclosure: I trade fcx and long/short metal ETFs whenever my signals will let me]

[silicon_beaver]

can't resist. loaded some FAZ 43.2

[agnosia]

morning guys. been trading a bunch today. nice cup and handle on /cl. target reached but there is a gap at 90.21. i am currently flat.

[Apple]

Too many mixed signals. I'm out of $RUT even though trend is up.

[Michelle]

[Take your FCX daily chart, overlay ECH and JJC and FXI (or a better China proxy), then run “correlation coefficient” indicators…

Done. What's the next step? That's pretty cool, by the way. I've never done that before. I love to learn something new.

[SB73]

Forgot to say. OR breakout target: 125.66, 75% chances.

The neckline is at 1258 so that should be pretty close.

[Cobra]

EURO at resistance, careful here.

[BullBear52x]

EURO at resistance, careful here.

Euro on defensive all night.

[Cobra]

OR high as support. sometimes it needs to wait for EMA to catch up, rose too fast, not sustainable.

[99er]

Updates

Copper http://99ercharts.blogspot.com/2011/10/copper_24.html
Crude http://99ercharts.blogspot.com/2011/10/crude_24.html

[99er]

Updates

Gold http://99ercharts.blogspot.com/2011/10/gold_24.html
Silver http://99ercharts.blogspot.com/2011/10/silver_24.html
30-Year http://99ercharts.blogspot.com/2011/10/30y_24.html

[wayne0708]

Cobra:
I shorted at 125.10. Is that a bad move, your thought?

[cougar]

Good job, Agnosia!
I think I know what you did...

[agnosia]

Good job, Agnosia!
I think I know what you did...

a little bumpy in the beginning but i went long 88.52, stop 88.48 when we came back to visit the 10ema on the 5min chart. i sold out at 89.40. went long again just now 89.20 , 10ema touch again on 5min chart and looking for 90.21 gap fill.

[ddd]

Better believe in the power of the massive shorts that need/want to cover at/above the current levels.

[SB73]

Adding next 20% short...I can hold through 1258.