05/10/2011 Intraday Watering

[Cobra]

good very good, now let's see the measured move target.

[Cobra]

just a wild guess (as guess against the trend is always a bad idea, so just a guess), we'll see a pullback of some kind around here.

[Mr. BachNut]

wow, the break out is coming. not expected side tho.

With One Trading Hour Left, NYSE Volume Is 50% Of Average
as i mentioned yesterday, bulls don't need volume nowadays

I am not sure of this, but NYSE trading volume may be reflecting the Citigroup 1 for 10 reverse split yesterday. Citi was a big part of the daily volume and I don't think they restate the NYSE volume #s.

[agnosia]

the sellers are out.. big barriers at 1356.5-1357.... good luck bulls !

[soku]

i think the top is in. we will hang around 1356.5 for couple minutes to get the final reading. no material impact

[99er]

SPX
That should do it.
http://99ercharts.blogspot.com/2011/05/spx_3905.html
Heading down towards the lower boundary soon.

[alwzopn]

Cobra,

Are you still sure SPX going to close red for this week?

Thanks.

[99er]

RUT
Another look at that wave count...
http://99ercharts.blogspot.com/2011/05/rut_7670.html

[Cobra]

Cobra,

Are you still sure SPX going to close red for this week?

Thanks.

will have to dig out something before changing my tone. for now, too early to claim bull.

[Cobra]

the pullback so far is weak, so probably another assault on the upside to come (no idea, the purpose of this post is just to brag myself in a subtle way ).

[Cobra]

rebound from here my guess.

[agnosia]

damn i didn't get my short filled , there were too many sellers ahead of me in the queue. the DOM is full of sellers/buyers... we go nowhere till the close.

[soku]

damn i didn't get my short filled , there were too many sellers ahead of me in the queue. the DOM is full of sellers/buyers... we go nowhere till the close.

when i yell 1356.5 top in, u shd just hold yr nose and dive
i will cover half b4 4:15 close. my guess/hope is around 1351.5

[agnosia]

damn i didn't get my short filled , there were too many sellers ahead of me in the queue. the DOM is full of sellers/buyers... we go nowhere till the close.

when i yell 1356.5 top in, u shd just hold yr nose and dive
i will cover half b4 4:15 close. my guess/hope is around 1351.5

lol. i had my sell short order in at 1356.5 but i didn't get filled !!! at least my long got sold.. oh well.. next time.

[soku]

buy aapl. new phone plan, possible 3:1 stock split

[cletus]

Targeting a pullback to IWM 84.89 tomorrow but even if it pushes higher will still hold puts on it.

[agnosia]

according to my forward looking pivot close calculations we will close near 1352

[Cobra]

well, guess that's it for today, the close is not as good as I thought but guess we can live with that. On a little bit longer than very short-term, I need dig out more before changing my tone. thank you guys, I'll see you tomorrow.