11/28/2011 Intraday Watering

[ib612]

still multiple weeks of selling targeting June 2010 lows?

[Al_Dente]

has anyone read Niederhoffer's (Victor) "Practical Speculation"? i'm about 75% through it, and wondering about other peoples' thoughts and reactions to it. he spends a good portion of the book debunking technical analysis.

jarbie: missed u terribly Friday, dollar got all wacky, u weren't here, oy. I read his "The Education of a Speculator" a while back, he’s a cocky busterd. Consider posting a “Cliff Notes” version for us all (only half joking)

I liked Education of a Speculator. Don't take these guys word for word, Niederhoffer had techniques which might be more wacky than TA - e.g. music... E of a S is fun to read!

UEMPEL: any comment on your 377dma? I watch its brother, the 75sma on the SPY weekly, and last week’s candle was a nice clean gap below 75sma, and similar on TRAN. I can’t even bear to look at it today !

[ccash04]

EUR at LOD, moving lower

[Dow Trader]

Asking about the cloud situation ? this is the picture

So the cloud is tough resistance? And if price slices the cloud it's up, up and away?

Not eaxactly,
here is what normaly the price do:
the thick and sloping cloud will act as strong resistance and candles inside the cloud are mostly small and undecided ... If price ignored the cloud, and closed above it, then when this first upmove finished, the target is a close below the cloud again then rally again or side way.
in short, price should close above the cloud but what I see now from the degree of the slop and the thickness of the cloud, it is clear heavy resistance. Except if price ignore it which is rare but possible

[cougar]

A few more things on the Gann Time Vibration happening today and posted yesterday morning:
It appears that the 300% point will be another reversal. All previous “technical Gann reversals” indicated on this chart resulted in tradable new trends.
The 100% vib. generated a 17d. uptrend, while the 200% vib. was followed by a 13 d. downtrend.
One might also notice the alternation of up and down arrows.

Cougie: is the market open on that chart? Looks like could easily go down to white 3x1, no???

No Al, that chart was uploaded before the opening. But the one below has the opening.
In principle, Gann Time Vibrations have o tolerance of +/- 1%, which here it could mean +/- 3 days. But the past performance of this method is slightly better here, for SPX. Sure...anything could happen during the next 2 days…but I think that today’s bounce could be IT. I would not count on a big drop right now…
The big question is: how many rounds of “shorts covering” will THEY squeeze out of the “perma-bears” during this typical bear market rally?

Thanks, PS: how did last week’s op-thingie work out? The one with the humongous premium, then boom, time value zilch sneaking into early close, and u bag the big one. Being an “old guy” I forgot the details, but I definitely loved the concept.
yo cougie: two string alert here, u know what I mean:
http://www.youtube.com/watch?v=PbeU6kPSK2Y&feature=fvsr
More on $NAAD later

That trade went well…so far.
Wow!!! Great “string alert”!
Also…during the weekend: << “Bang Bang“, interpretata dalla grande Dalida >>. Loved it!
====
VIX was a great “buy calls” at opening, under 30.

[noob]

I'm not happy with the market actions so far, but I'll give it more time, yes, I'm a little bit impatient, simply consolidate here all day doesn't make a strong day, rather it's a distribution day.

Thanks, distribution day? I thought it would be a MAD?

[Me XMan]

Ready to get some shorts for intraday play...

I'm not happy with the market actions so far, but I'll give it more time, yes, I'm a little bit impatient, simply consolidate here all day doesn't make a strong day, rather it's a distribution day.

[Dow Trader]

EUR at LOD, moving lower

imho, I think today the CHF is the key not Euro, if it form a double bottom in the hourly, then Gold and ES will drop I will post the chart to show it for you in a minute

[Dow Trader]

EUR at LOD, moving lower

imho, I think today the CHF is the key not Euro, if it form a double bottom in the hourly, then Gold and ES will drop I will post the chart to show it for you in a minute

The candle just closed a minute ago and it is a double bottom, so now chances that ES and gold to drop is much higher

[pady]

Got out of ( DIS, DD, BA ) longs taken last week. 2-3% gain.

[Cobra]

I'm not happy with the market actions so far, but I'll give it more time, yes, I'm a little bit impatient, simply consolidate here all day doesn't make a strong day, rather it's a distribution day.

Thanks, distribution day? I thought it would be a MAD?

I mean it's actually a distribution if cannot follow up the morning gap for the rest of the day instead of just consolidating here.

[ccash04]

EUR at LOD, moving lower

imho, I think today the CHF is the key not Euro, if it form a double bottom in the hourly, then Gold and ES will drop I will post the chart to show it for you in a minute

The candle just closed a minute ago and it is a double bottom, so now chances that ES and gold to drop is much higher

Good thoughts, I haven't paid much attention to CHF since they pinned it to the EUR

[Dow Trader]

Gold, watch the pattern

[Al_Dente]

We watch 13 dow stocks that are the top “squeezables”
7 of the 13 are now signaling INTRADAY SCALPER ONLY sell signals
Especially WMT !!
Others trying to roll are AA, BAC, GE is near, DIS, T, JNJ
This may change in the time it takes to post this

[Cobra]

oh, forgot to say, it's right on the island reversal target.

[uempel]

has anyone read Niederhoffer's (Victor) "Practical Speculation"? i'm about 75% through it, and wondering about other peoples' thoughts and reactions to it. he spends a good portion of the book debunking technical analysis.

jarbie: missed u terribly Friday, dollar got all wacky, u weren't here, oy. I read his "The Education of a Speculator" a while back, he’s a cocky busterd. Consider posting a “Cliff Notes” version for us all (only half joking)

I liked Education of a Speculator. Don't take these guys word for word, Niederhoffer had techniques which might be more wacky than TA - e.g. music... E of a S is fun to read!

UEMPEL: any comment on your 377dma? I watch its brother, the 75sma on the SPY weekly, and last week’s candle was a nice clean gap below 75sma, and similar on TRAN. I can’t even bear to look at it today !

Al, I don't think today's bounce is the beginning of a bullish move. I'm not into EW, but today's action sure looks like an EW 4th... As to 377, way up 1219..

[noob]

I'm not happy with the market actions so far, but I'll give it more time, yes, I'm a little bit impatient, simply consolidate here all day doesn't make a strong day, rather it's a distribution day.

Thanks, distribution day? I thought it would be a MAD?

I mean it's actually a distribution if cannot follow up the morning gap for the rest of the day instead of just consolidating here.

Thanks, would be quite surprised if we can go up more significantly from here... This morning was already a 40 pt up on SPX. Also vix has a long tail on the daily so far, what's with that?

[ccash04]

ES has a neg divergence from CONTEXT, which has been trending lower.. (CONTEXT is a risk basket)

Its implying around 1185 on ES.

[Me XMan]

This week is VERY IMPORTANT WEEK for Eurozone and I believe da boys won't let this market go into the crapper. They need to build confident in the market so money can come back. IMF and Fed will lend a hand no doubts.

[Me XMan]

BB52X what are you holding?