11/30/2011 Intraday Watering

[KENA]

Yesterday I said I was holding long and looked for the SPX to try for 1230 in a week.Well here we are over night at 1230..Not sorry I was wrong, but now we should have COBRA give his thoughts on the % chances.of 1240/45 area by the end of the week.

[taggard]

Sold my long SPY and watching the show.
This week is VERY IMPORTANT fo the Eurozone and they need all the BAZOOKAS they can get.
After this week then I'll go for correction.

maybe so--but maybe just note in passing fed meets 12-13 which is right after a major meeting by the Euro guys 12-9. pullbacks corrections are inevitable. but it's worth noting the banks in the euro zone are really at risk for end of the year accounting. there will be a serious effort not to let things cave--longer term 1-2 years these efforts are not going to change the overall shape--shorter term (holidays into the end of the year and maybe jan earnings) it's possible they will hold things at least steady if not create some upside. could be wrong--but when everyone is in the same boat (usa euroguys and maybe even china) some efforts will be made

[Cobra]

the open. Way too stretched.

[Me XMan]

Good notes. Thanks.

Sold my long SPY and watching the show.
This week is VERY IMPORTANT fo the Eurozone and they need all the BAZOOKAS they can get.
After this week then I'll go for correction.

maybe so--but maybe just note in passing fed meets 12-13 which is right after a major meeting by the Euro guys 12-9. pullbacks corrections are inevitable. but it's worth noting the banks in the euro zone are really at risk for end of the year accounting. there will be a serious effort not to let things cave--longer term 1-2 years these efforts are not going to change the overall shape--shorter term (holidays into the end of the year and maybe jan earnings) it's possible they will hold things at least steady if not create some upside. could be wrong--but when everyone is in the same boat (usa euroguys and maybe even china) some efforts will be made

[PolarBull]

It's a global QE
http://www.federalreserve.gov/newsevent ... 11130a.htm

It is already a huge Bazooka though it doesn't quite solve the debt problem yet. So now for bulls, you need to pray that the European leaders are smart enough to use this opportunity to come up with a solution to solve the European crisis while the market is not in panic mode. If they get complacent over this rally and do nothing for the upcoming Dec 9 EU summit, then say hello to the bears again.

And I sure am glad to take the all the people screaming 1100 by the end of the week two days ago as a contrarian indicator.

[fehro]

targets? 1240-1250?

[barbaragull]

Let's squeeze 600 pts up, then drop 400 pts (in Dow)

[BullTart]

slept overnight at Trader Vix
not a good wake up call
but what's a RichArab to do? I am right where i would typically load the boat - near my $50 drink special...

LOL also slept at Trader VIX.

Surprisingly, the VIX is just sitting at the lower BB band, and the BB bands are still very compressed.

With two 30+ handle days in 3 days, the VIX is still just farting around nowhere.

[Me XMan]

Would it be nice if we have doji morning star for today but I doubt it.

targets? 1240-1250?

[chodaboy19]

I was expecting the VIX to drop like this last week, but I think I can jump in when under $50.

[pady]

ouch...anyone else here getting burned after going short yesterday?

I am giving you company. Shorted at 1195 two days back - just 100 SPY. I am hoping I can cash out of my IRA and other accounts now if we get to 1300.

[bushwaffle]

Get the feeling everyone is just kinda staring at the screens wondering what to do with this....

[Al_Dente]

too early for internals, but http://screencast.com/t/S9Q504Q8fj

[grachu]

this is a TRUE way to strech statement . the mother of all the way too strech statements ... lol

[pezhead9000]

Get the feeling everyone is just kinda staring at the screens wondering what to do with this....

hahaha - yes!

[fehro]

Invs H&S 3.0 ....if this bull is really strong... and of course if the pattern plays out....

[Me XMan]

I'm looking to get in on the next dip and ride to EOD.

Get the feeling everyone is just kinda staring at the screens wondering what to do with this....

[Cobra]

very stretched and the whole area above are resistance. I'm not sure though, those days market tends to go against odds, so let's just wait and see.

[barbaragull]

Let's squeeze 600 pts up, then drop 400 pts (in Dow)

Bulls and bears, don't rest, still have 200 more pts to go

[KENA]

COUGAR..Are you still holding to 1262 your projection.