03/24/2011 Intraday Watering

[99er]

Me XMan: "Long SDS since mid-Feb should put you down good today?"

Don't day trade so I don't check my balance all the time. In any case, I believe in diversification so even if SPX is going against my position, I know that gold and silver are doing far better for me. An example? I got a box of Silver Eagles when spot was $14.

[BullBear52x]

Normally I will shlort this Double tops, always short double tops and buy triple tops. that's old rules, got burnt too many times on them.

[99er]

zombiebraingoo: "you should buy spy sooner than later...imho"

Thanks for the suggestion. As for precious metals...well, they comprise a huge chunk of my portfolio already but thanks.

[99er]

SPX
Negative divergences still in play; we just need volume now.
http://99ercharts.blogspot.com/2011/03/spx_3114.html

[zombiebraingoo]

1310 denied so far - fractal failure at the top - should break out soon or we will vist 1303

[pdz]

zombiebraingoo: "you should buy spy sooner than later...imho"

Thanks for the suggestion. As for precious metals...well, they comprise a huge chunk of my portfolio already but thanks.

So you're net long but your bearish charts are just misleading others.

[zombiebraingoo]

new factal forming on 5 min

1308 seems supported

[uempel]

SPX looks kind of adventurous, I'd say Pamplona, not Grizzlyland:

[Cobra]

zombiebraingoo: "you should buy spy sooner than later...imho"

Thanks for the suggestion. As for precious metals...well, they comprise a huge chunk of my portfolio already but thanks.

So you're net long but your bearish charts are just misleading others.

He short SPY but long gold and silver. It's not net long I think.

[Cobra]

SPX looks kind of adventurous, I'd say Pamplona, not Grizzlyland:

Rhom.png

Does this mean SPX will go much much higher from here?

[99er]

pdz: "So you're net long but your bearish charts are just misleading others."

No, I'm short equities. SDS is a double inverse ETF.

http://www.bloomberg.com/apps/quote?ticker=SDS:US

[BullBear52x]

Major resistance still can be seen at the top daily down trend channel.

[Cobra]

OK, I was wrong, this looks like a valid breakout.

[pdz]

pdz: "So you're net long but your bearish charts are just misleading others."

No, I'm short equities. SDS is a double inverse ETF.

http://www.bloomberg.com/apps/quote?ticker=SDS:US

Sorry, I knew SDS but I thought Silver Eagles is a Silver stock. Forgive my ignorance of US individual stocks.

[Cobra]

big picture. trend line is the next resistance.

[uempel]

SPX looks kind of adventurous, I'd say Pamplona, not Grizzlyland:

Rhom.png

Does this mean SPX will go much much higher from here?

There is strong resistance at 1312/1314 and SPX won't go higher today.

[99er]

pdz: "Forgive my ignorance of US individual stocks."

Actually, in this market, investing in individual stocks may be the smarter choice. As for silver Eagles, well, you should get some at the next correction.

[rcks]

uemple
Can you describe how you creat the rhomboid that show on your chart?

There is strong resistance at 1312/1314 and SPX won't go higher today.[/quote]

[DCS]

I enjoy reading this board for the wealth of information, excellent charts and perspectives, etc.

Why anyone would want to ask someone else if they were actually trading their views, or accuse them of intentionally misleading others, is beyond me.

If you don't like my comments, skip over. Same for any other poster. No need to flame or bash.

Kudos to 99 for not stooping in response.

Good trades to all.

[Tabby]

Anyone trading FCX?
It seems copper fluctuating b/w 4.40 and $4.50 and drops again;
http://www.finviz.com/futures_charts.ashx?t=HG&p=d1