06/15/2011 Intraday Watering

[wxstone]

Headlines:

* Today's S&P turns are at 10:30 EST and 1:15 EST
* Nat gas may be ready to bounce (but I'm not betting on it). We are now neutral on natural gas.
* Oil faces serious headwinds for the next few weeks, expecting more range trade or downside (but not betting on it).
* Gold could face weakness if this wedge breakdown and h&s targets are met, not sure what impact this implies on the broader markets, you'd think it means stronger dollar weaker stocks, though it's not a sure thing. I remain short gold but I wouldn't necessarily recommend the trade to anyone at this point. Convergences at GLD 145.

Hi,Cletus.How can we predict the cycle turn?

[Sqwii]

Pretty good possibility we will see a water fall to 1250 or so over next 2 days

[cletus]

Headlines:

* Today's S&P turns are at 10:30 EST and 1:15 EST
* Nat gas may be ready to bounce (but I'm not betting on it). We are now neutral on natural gas.
* Oil faces serious headwinds for the next few weeks, expecting more range trade or downside (but not betting on it).
* Gold could face weakness if this wedge breakdown and h&s targets are met, not sure what impact this implies on the broader markets, you'd think it means stronger dollar weaker stocks, though it's not a sure thing. I remain short gold but I wouldn't necessarily recommend the trade to anyone at this point. Convergences at GLD 145.

Hi,Cletus.How can we predict the cycle turn?

They are just predictions and don't always work. It's based on a theory though. I wouldn't want to mislead anyone and show how.

[Cobra]

here's what i mean: a sharp reversal means H&S Bottom, then the old days are back, let's forget about there's ever in this world a word called "bear". so bears are not out of danger yet...

[cletus]

CPCE remains elevated. This is a historically extreme level.

[Sqwii]

30 min chart and 60min chart both way overbought still on charts - need at least to see a bottom or begin to get oversold soon - so I think more downside today , if not - markets should stay around here sideways for some hours before going up- all imo

[quientuves]

Did you remember that Pr*shares ETF called Ultra-Cobra? Well, yesterday this forum reached a new high in users online...

[KENA]

FYI...Schaeffers has come out Bearish on BAC..C..XLF..Lets see

[BBFinance]

The market is run by the HFT bots and their algo is linked with Euro. So if we can find out what is happening to Euro, we would be able to predict the market movement, till such time the manipulators are able to continue.
Anyhow, they will try to take the SPY past 130 by op. expiration

[wxstone]

Headlines:

* Today's S&P turns are at 10:30 EST and 1:15 EST
* Nat gas may be ready to bounce (but I'm not betting on it). We are now neutral on natural gas.
* Oil faces serious headwinds for the next few weeks, expecting more range trade or downside (but not betting on it).
* Gold could face weakness if this wedge breakdown and h&s targets are met, not sure what impact this implies on the broader markets, you'd think it means stronger dollar weaker stocks, though it's not a sure thing. I remain short gold but I wouldn't necessarily recommend the trade to anyone at this point. Convergences at GLD 145.

Hi,Cletus.How can we predict the cycle turn?

They are just predictions and don't always work. It's based on a theory though. I wouldn't want to mislead anyone and show how.

k,thx,Cletus

[TrendTrade]

We hit the target circle yesterday and fell back down. I would expect a final move to the green circle area but I think the route getting there will be up and down very tricky. Definitely my "big buy" zone though.

[cletus]

I'm heading out but I'll suggest that the best time to go long today might be around 1:15 EST because I do expect today to be a down day so might as well wait till later in the day to buy.

However, perhaps the best opportunity will be at Thursday's close to go long (the entry that you will have to sweat the least).

[HK88]

Trying to clear 1280, critical here

[Cobra]

no clue what the market is doing, I'll assume the rebound target at least is the EMA20. Again, bears must be cautious here...

[cletus]

Sorry, one more statistic LOL

Buy on day 16 (or middle of the month) for the last few months, sell at close of month

S&P
March 16: 1256
March 31: 1325 +69 pts

April 18: 1305
April 29: 1358 +53 pts

May 16: 1327
May 31: 1345 +18 pts

Total strategy gains in prior 3 months: + 140 pts

Food for thought!

[HK88]

no clue what the market is doing, I'll assume the rebound target at least is the EMA20. Again, bears must be cautious here...

Based on your rule of thumb, it appears that close will be > open, it is almost 10.30pm

[TrendTrade]

Cobra, do you use the 20 ema on the 5 minute as important support/resistence area on intra-day trading often?

[Pharmboy]

Sorry, one more statistic LOL

Buy on day 16 (or middle of the month) for the last few months, sell at close of month

S&P
March 16: 1256
March 31: 1325 +69 pts

April 18: 1305
April 29: 1358 +53 pts

May 16: 1327
May 31: 1345 +18 pts

Total strategy gains in prior 3 months: + 140 pts

Food for thought!

June 20 is $10B in POMO as well, so might be worthwhile to buy tomorrow for that run up. Thx.

[luckystar2006]

Does anybody know what is wrong with CZM/CZI (direxion daily china bull/bear 3x shares) today? Thx.

[pidge66]

June 20 is $10B in POMO as well, so might be worthwhile to buy tomorrow for that run up. Thx.

Thanks for the heads up. I didn't realize they sneaked in 2 POMO entries on the 20th.