07/09/2012 Live Update

[MrMiyagi]

Does this look about right to youz guyz and galz?

[ballatines]

AAPL soon will form double top ?

[MrMiyagi]

Oops... where are my manners?

[TraderGirl]

update on VIX continuation pattern...
headed higher as suspected, but looking for a higher high...

[fehro]

beware of the Salsa Verde descending bullish wedge...

Salsa Verde tomorrow?

[MrMiyagi]

beware of the Salsa Verde descending bullish wedge...

Ah.. gracias senor...

[TraderGirl]

SPX could be forming continuation pattern to downside, TSI support on 5 minute barely hanging on, must turn around here, or further weakness....IMHO...

[MrMiyagi]

Can anyone confirm/shred apart my support lines for AAPL a few posts above?

[cosmos]

600,590,550,530

[TraderGirl]

Does this look about right to youz guyz and galz?

I think they all look good, just one missing around 590ish...and then the channel, as potential support...

[ballatines]

beware of the Salsa Verde descending bullish wedge...

Salsa Verde tomorrow?

good chart!

evil plan in progress

[MrMiyagi]

I think they all look good, just one missing around 590ish...and then the channel, as potential support...

Thanks TG, I was thinking of selling some September or later 500$ puts.

[SWalsh]

HFT hit up at 3:19. They are trying to find some buyers, it appears. Didn't seem to happen. At 3:20 they went the other wway.

Well these people won't be buying, nor will the city with its $5,000. This is a razor's edge and crops risk failures from the heat from speaking to a mid-west farmer I know. "Grapes of Wrath II"? I sure hope not. But we do have Dead Ted's dream. He elevated the minimum wage so everyone can make it....even the Scranton, PA mayor:

http://www.zerohedge.com/news/scranton ... e-stockton

[Cobra]

guys, I'm back, it took a little longer than I thought but I'm glad this is just a range day as I said, so guess I missed nothing.

[SWalsh]

Here's what the market needs to wake-up (note to TraderGirl....no frontal nudity)

http://screencast.com/t/k6KjKembAR

EDIT: we can do anything here in the last 30 minutes as algos will square-off. That's been the result of no volume but Benny and the Ink Jets trading the market. No wonder Christine Rohmer left as the chief economist of his Council of Economic Advisors. As much of a pro-socialist as she is it's some statement that she didn't want an association with this. Plus, she was always wrong. Better to leave than be fired.

[Petsamo]

Some big guy pressed a big sell button

[MrMiyagi]

Russel 2000 waking up.

[Petsamo]

The big sell apparently was just restricted to coal & mining

[SWalsh]

Some big guy pressed a big sell button

I think we definitely should not just have gone from just 1/8th tick pricing to 1/100th of a penny, but rather to 1/10,000th of a penny. Let's get so efficient that we just plain set the market price of 1500 forever and send those 2000 PhDs to work on something like manufacturing. Or maybe grass that grows with no rain and not weeds!

"Evening Wear...is nice"
"Swimwear...is nice"

[SWalsh]

Russel 2000 waking up.

While the SPY daily looks like it's going to rollover into collapseville.

I guess it's tough for a market to pick a direction when it is so far from real value and few dare sell it because Uncle Fed just might punch your ticket.

EDIT: since just after 3 PM there were very small algo bids hitting the mkt. My guess is to try to stop selling so they can get out higher. Overnight risk is not their bag.