04/05/2011 Intraday Watering

[Cobra]

Cobra...thanks for everything...is it bearish when the RUT leads?...CNBC seems to think it is good and said today that the rest of the market would soon follow...but looking back at 2007, when NDX could not make a new recovery high and the RUT soared there was a lot of red soon after...and I mean a lot of red!!

IWM leads usually is good thing. I think you're talking about 2008 when IWM led but it was bad ahead. I don't know if we're in 2007 or 2008 now.

Cobra on your same chart, why no one analog on my high light as similar?

similarity usually doesn't work.

[Cobra]

Yeah, that's the 2 legged pullback I'm talking about. This is just leg one, I guess.

[BullBear52x]

I see the green shoot on FAZ, I will trade it tomorrow.

[BullBear52x]

vix

[BullBear52x]

board is so quiet, well here's my last chart for the day. magic market time.

[Tabby]

Bull,
you have too much energy.
I was thinking how high $RUT can go up? It has reached 855.77.
$TRAN is going up too but I can't find a real good stocks to chosoe. There is not a good etfs with good volume exist, at least not by direxion.

[Cobra]

OK, here comes the 2nd leg down. May not go far because the green and pink are bullish and not far away from the support. Let's wait and see.

[BullBear52x]

Bull,
you have too much energy.
I was thinking how high $RUT can go up? It has reached 855.77.
$TRAN is going up too but I can't find a real good stocks to chosoe. There is not a good etfs with good volume exist, at least not by direxion.

Are you talking evil side? TZA got some already.

[Cobra]

could be an exhaustion bar here plus the support, so rebound could be. After that we'll see the direction, further down or reverse up.

[agnosia]

yes i think it's time to cover shorts here !

[Tabby]

Bull,
I don't dare any more inverse etfs. I prefer to buy in dip. If I see VIX in way way in lower side of bolinger band then I might go for inverse etfs or VXX or some other evil etfs.
I have a faint heart. I cheer up for you when you buy inverse etfs. Go get'm.

[BullBear52x]

Bull,
I don't dare any more inverse etfs. I prefer to buy in dip. If I see VIX in way way in lower side of bolinger band then I might go for inverse etfs or VXX or some other evil etfs.
I have a faint heart. I cheer up for you when you buy inverse etfs. Go get'm.

TNA is the Bull etf if you don't want to play evil

[BullBear52x]

OK, I am done what I need to do today, parking on the evil side again.

Thanks, Cobra and everyone here GL

[EkOnkaar]

could be an exhaustion bar here plus the support, so rebound could be. After that we'll see the direction, further down or reverse up.

Cobra,

IMHO, the bull is taking a rest for the next few months..too much inflationary pressures, govts. raising rates etc..punch bowl is being taken away from wall street. We'll see. Tough to be long when GOOG and AAPL are getting hammered.

Ek

[Cobra]

Overshot, another rebound is possible. A red close today would be bad for bulls.

[Tabby]

This is the problem. $RUT reached the max or maybe not. How far they push $RUT up? how far they can Puah TNA UP before direxion issues split?
TZA can go high but do I want to risk it??????????
I have been watching $RVX which is similar to $VIX in correlation to $SPX.
When $RVX closer to lower part of BB, then it is OK for short trade to jump in TZA.
I am going to saty away TZA/TNA for now till the coast clears up.
FCX is still kicking for me as day trade stocks. All I need to buy one stock/ day. I don't do too much daytrading, Swing trade is better.

[greenback]

Cobra's evil plan is doing great!

[Cobra]

My evil plan goes OK, but to be on a bear side (expecting a 2 legged pullback on 60 min chart), we need at least a very first lower low which so far is far from getting it yet.

[Me XMan]

I think market is ready to get dumped here.

[Cobra]

I think market is ready to get dumped here.

I doubt that as today's pullback so far was led by heavy weighted stocks, it's not broad based sell off.