03/02/2011 Intraday Watering

[99er]

SmartTrader Video
Interesting comments about oil.
http://www.youtube.com/user/T1systems

[KENA]

The mkt has reversed for a bit but we do have to break 1303/1305 to go lower. Then 1295 /1290. Wait and see.

[zombiebraingoo]

SLW filled a smal gap at support and is confirmed to move higher - 48.50 next target - silver will hit 50 in june - gold will hit 1650 at least, maybe 2000?

SPX tested support and is bouncing here - SPX will trade at 1400 by june I wouldn't short this until summer...

[Me XMan]

zombiebraingoo. Based on what catalyst SPX will hit 1400?
QE1 and QE2 pumped this market so far.
If more QE's coming then yes I see it could go that far.

[zombiebraingoo]

Dow is testing lower channel trendline - doesn't look really weak

[zombiebraingoo]

zombiebraingoo. Based on what catalyst SPX will hit 1400?
QE1 and QE2 pumped this market so far.
If more QE's coming then yes I see it could go that far.

Based on buyers coming back into the market and inflation - inflation alone can carry the indexes back to their 07 highs before we start the down turn of the four year cycle in 2012.

This is definitely "just" a bubble but no one should underestimate how far this can extended - look at the spx from 1994 to 2000 - based on fundamentals, the spx should have tanked but then came greenspan. The FED doesn't need a public QE program to pump anythng. That is simply their public face meant to inspire the average American with the idea that their institutions are doing something to save the economy...dog and pony show for the masses.

What is really happening is the IMF and world bank being seruptitiously funded by the FED. That's why they don't want an transparent audit because the FED is privately inflating through all kinds of unreported activities.

[Cobra]

Could be 2 legged down on 5 min chart to test monrning low, now it's the 1st leg. As usual: A successful test would be good for bulls, decisively breakdown would be very bearish. Let's see. I'm still pretty much clueless... Kind of all thinkings are stopped like day to me.

[Me XMan]

Inflation would kill this market IMO. High unemployment, depressed housing and wages. Don't mention Fed will raise rates and bank would ask for higher interest rates.

Based on buyers coming back into the market and inflation - inflation alone can carry the indexes back to their 07 highs before we start the down turn of the four year cycle in 2012.

[99er]

SPX
1301 or bust.
http://99ercharts.blogspot.com/2011/03/spx_7769.html

[KENA]

Financials are now in the red ...Transporation is falling.It may take some push to break the 1305area. Waite and see.

[balance]

99er,
my wolfe wave is different from yours
Hourly,



Short term, possible

[zombiebraingoo]

Inflation would kill this market IMO. High unemployment, depressed housing and wages. Don't mention Fed will raise rates and bank would ask for higher interest rates.

Based on buyers coming back into the market and inflation - inflation alone can carry the indexes back to their 07 highs before we start the down turn of the four year cycle in 2012.

Don't confuse the economy with the markets!

It is a common misconception that inflation is bad for stocks. Eventually it is bad for everything execpt money analogs like gold, look at how oil rose to 150 last year as the market rose. Food inflation will maybe be the stopper but not before we trade at 07 highs...

[Me XMan]

Okay I'll mark you down for SPX 1400 this summer 3 months from now.

Inflation would kill this market IMO. High unemployment, depressed housing and wages. Don't mention Fed will raise rates and bank would ask for higher interest rates.

Based on buyers coming back into the market and inflation - inflation alone can carry the indexes back to their 07 highs before we start the down turn of the four year cycle in 2012.

Don't confuse the economy with the markets!

It is a common misconception that inflation is bad for stocks. Eventually it is bad for everything execpt money analogs like gold, look at how oil rose to 150 last year as the market rose. Food inflation will maybe be the stopper but not before we trade at 07 highs...

[Cobra]

Testing, still pretty much 1st 5 min down leg. I don't see volume surge yet, so no sign of rebound.

[zombiebraingoo]

[quote="Me XMan"]Okay I'll mark you down for SPX 1400 this summer 3 months from now.

Yup - we may have some tenuous weakness here through the first half of March but then zoom zoom til june!

[EkOnkaar]

$TRINQ not showing any fear..seems to be buying the dip..
Ek

[99er]

WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Wednesday a Republican spending cut plan would not cause a big dent to U.S. economic growth, but could cost around 200,000 jobs.

Government job cuts at the city level as well. And at the county and state levels too. "Green shoots" my ass.

Bozo.

[99er]

balance-- I would recommend drawing the trend lines as well (1-3, 2-4) to ensure that the points closely follow the rules. That way the target becomes clear.

[Cobra]

depends what kind of day we have. if a range day like I guess this morning, then we should see continuous up here until the morning high. if this is a trend day, since the down leg was pretty strong, so this rebound should fail, we shall have a 2nd leg down on 5 min chart. Let's wait and see.

[BullBear52x]

WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Wednesday a Republican spending cut plan would not cause a big dent to U.S. economic growth, but could cost around 200,000 jobs.

Government job cuts at the city level as well. And at the county and state levels too. "Green shoots" my ass.

Bozo.

Green shoots LOL love that term.