02/17/2012 Intraday Watering

[Cobra]

Flat open, so any gap will be filled.

The Global ES looks good, strong push up yesterday, then an overnight consolidation then breakout. The breakout is not valid though but my point is the chart is not ugly.

[KeiZai]

Good morning Cobra and all,

hmmmm...very strange action again, 20 hours of sideways movement on the S&P500 while european stocks are going higher
Truly, this is one of the strangest markets I've ever seen so hard to predict...Thought this rally is one for the history books

For a while sideway action is the best action, watching only

GL

[Al_Dente]

Good morning all
PAGING TVIX/VXX
(Research, save for later)
CBOE info on VIX and the VIX futures spreads
http://cfe.cboe.com/education/vixcharts.aspx
click “VIX futures spread charts” (opens in adobe reader).

“Some … focus on the spread between prices of VIX futures contracts and the underlying VIX index as a tool to predict the future direction of the …[SPX]… when longer-term VIX futures are priced at a substantial and/or persistent premium to shorter-term VIX futures and $VIX itself, it portends a volatile and usually weaker phase ahead for stocks….alternatively....”

[champix]

GMA
Dr Copper is not cooperating in the rally... a clue?
We'll see...

[Wallstreetrader]

Cup&Handle ?

[EvilTrader]

morning all

good luck all shorts.

[jimme]

GM All

In my own opinion, I am looking for a lower low in GLD at 1660. I think the dollar will be strong today. The market is topping here, which causes swift changes in price, especially at expiration. GLTA jimme

[Petsamo]

GMA
Dr Copper is not cooperating in the rally... a clue?
We'll see...

FCX rallied 3%+ yesterday

Break

It may be a stupid move but I may sell my UNG at the open. UNG bears, let's see you guys short it!

[Cobra]

the open.

[Cobra]

it's a clear breakout now.

[champix]

or the Crude is topish, either the limit is the sky...

[Petsamo]

sold UNG @ 5.51 for a 1.9% gain
That's 6 for 6!

[SB73]

Senor Petsamo - You cannot take profits because the weather is too warm and the supplies are too plentiful with hydro fracturing
Senor Al - TVIX could not hold the 5 EMA which means I won't be seriously looking at her until she starts breaking out again.

I believe it is a tight range day with a pop on Tuesday.

[HuyVanLang]

Sit tight. Waiting for market get to the top 137 which is p bar pointed at on 2/2/12. Then let's see market maker wants to do next

[Cobra]

hopefully a small double top here.

[Cobra]

1 min chart is clear what I mean double top. well, again, hopefully.

[jimme]

/DX has broken up out of a channel in a 3 push stucture

[3DM]

morning
copper hasnt confirmed the rally at all.
Feb 16 close 3.81
200 day average 3.81
50 week average 3.90
so maintain my call from a few weeks ago the market cant rise higher without copper breakout

[SB73]

Senor Petsamo - You cannot take profits because the weather is too warm and the supplies are too plentiful with hydro fracturing
Senor Al - TVIX could not hold the 5 EMA which means I won't be seriously looking at her until she starts breaking out again.

I believe it is a tight range day with a pop on Tuesday.

Here is the chart on UNG
http://stockcharts.com/h-sc/ui?s=UNG&p= ... &listNum=1

Senor Cobra - Let's hope you are right on double top

[KeiZai]

VIX rising, AAPL back below 50% retrace, dollar is strong...small position ON