08/09/2011 Intraday Watering

[varaamo]

Strike, would you mind sharing your indicator. Or is it proprietary?

This market is all psychology right now. Panic sellers dump in the morning. Short sellers cover after that. The big round 1150 that caused the panic yesterday when it failed and drove the /ES to 1080 marked the line for other sellers to leave and get into cash.

The Fed Minutes aren't likely to spur a big rally, obviously just an opinion, but I think 1150-1160 area is too strong a resistance area now and the lows in the Futures and likely lower will be seen this month before things start to settle down.

I think lower because my bottom signal that has never failed me needs more time to trigger. It's currently sitting at 19 and needs to get to < 10 to say we're there. It only measures Closing Price and Time and it's the Time factor that's not there yet. The Price factor has been at 0 since 8/2.

[AK84]

I am so tempted to short the market....another 5 mins and I will

[thanos]

can someone explain something to me...why is the 2275/2250put spread bid and ask for less than $25? Strange.

[soku]

last second note, in case of rate hike, short everything and long $$$

[Cobra]

show time.

[soku]

last second note, in case of rate hike, short everything and long $$$

damn. scared. news later than usual. unchanged.

[agnosia]

lol. fun to watch.. crazy to trade..

[yellowreign]

Has anybody else been reading the things that Marc Faber has been saying about the markets being too oversold? Since he's Dr. Doom and stated that we were in the start of a bear market a week and a half ago, I'm kind of weirded out by it. He essentially said he expects a rebound to make a lower high for the year, then for us to go down again.

He also said that government bonds were the short of the century - not even sure of the best way to play that one.

[agnosia]

last second note, in case of rate hike, short everything and long $$$

rate hike? are you mad, we won't see one of those for many years to come.

[fuddleduddle]

last second note, in case of rate hike, short everything and long $$$

rate hike? are you mad, we won't see one of those for many years to come.

FOMC notes coming in (check ZH.. which is now loaded with traffic).

Hot off the press.. rates to remain exceptionally low throughout mid 2013.

[jamesmith]

wow~~ what happened, dropping so fast!

[soku]

Ben's not speaking today. I do not anticipate the Fed will give the markets anything today that will be worth a strong move up. In fact, I expect another sell-off after 2:15. The market is headed to 1020 over the coming days or weeks.

unlikely. the market is posed for a dip to 1115 level. that's for today. on a broader chart, we still have the overnight low of 1077 and 1050 area as major support. this yr people are expecting more on the jackson hole meeting, which will be held at the end of this month.

great job soku. we are at 1115 now. pat myself in the back.
the range on my chart is actually 1110-1115. i will allow overshooting.

[Cobra]

well, at least the show this time is greater than the previous 2.

[Me XMan]

I see red EOD...FOMC is over...
No QE3 from Fed. Their hands are tied...

wow~~ what happened, dropping so fast!

[WhyNot]

This market is so stupid...

ES touched 1143,1 and 3 minutes later slammed to 1112!

Welcome to Casino

[EvilTrader]

The dead cat....just died again...

[hiram]

banks benefit from this decison as of now they are not comfirming more to the down side.

[soku]

measured rebound target 1147.5-1148.5
there is a remote chance which i cannot rule out, es hit 1161-1163 area

this is a successful call. make a target to cover at 1129.75 with trailing stop of 2.0

add: well me out at 1136.25 right after i put in the above post.

add2: this place is too quiet. i think i can keep on adding things. the trend is still down. the overbought need to be corrected.

add3: notes on gold. yesterday gs recommend sell. today rumor saying europe central banks are going to sell reserve to finance deficit. gold got a 60 point blood bath today.

gold wild today, after a 60 point blood bath, it drank a 50 point blood wine now.

[deeko]

Ben's not speaking today. I do not anticipate the Fed will give the markets anything today that will be worth a strong move up. In fact, I expect another sell-off after 2:15. The market is headed to 1020 over the coming days or weeks.

unlikely. the market is posed for a dip to 1115 level. that's for today. on a broader chart, we still have the overnight low of 1077 and 1050 area as major support. this yr people are expecting more on the jackson hole meeting, which will be held at the end of this month.

great job soku. we are at 1115 now. pat myself in the back.
the range on my chart is actually 1110-1115. i will allow overshooting.

I see the support at 1050, but I think the market will overshoot to the downside. we'll see what happens, but I wouldn't rule out 1020 before Jackson Hole. If I'm wrong, then we're squabbling over pennies when we're making pounds.

[Dow Trader]

yesturday was one of the worest days in Dow history, traders do think we will go lower than yesrday's low soon !!! then it is more 100 points from here, they just have to have a proper trading strategy for that target
it is just following the basics and it will be easy target

and that was easy + 100 points for me