10/27/2011 Intraday Watering

[agnosia]

agnosia
what is your trend view on oil short-term? some consodiation here me thinks

yes, i think we are headed higher after some backing and filling.

[agnosia]

sigh, so close to 1260, but didn't get there

yes it's better to run a system where u can be wrong more than right because lets face it nobody can predict the market. that's why i run 1:5 ratio on /es and 1:10 on /cl. so for /cl i can get only half the trades right and i would have made a ton of money.

[Michelle]

I Now I can obsess on metals
PAGING MICHELE and/or L_T

Are you believing copper?

[Tabby]

Tabby

Short.

What are you shorting 99er if you don't mind?

[99er]

Tabby

Long SDS.

[Al_Dente]

I Now I can obsess on metals

Are you believing copper?

FCX omg………….U missed one post, a correlation party
Go to 10:26ET on 1/25/11 (i think?), snag that post/chart, and come back

PS: Anecdotal trivia on Chile:
When Milton Friedman (Nobel Laureate and key architect of Reagan’s “supply side” playbook) was in his prime at the “Chicago School”, he mentored four brilliant exchange students from Chile. They were known as “Milton’s Boys.” They graduated, returned to Chile, eventually took top gov posts, and helped engineer the turnaround now referred to as the modern “Chilean miracle.”
Milton retired, and in the 1990s travelled to China and “unofficially” advised the Chinese gov.
BTW: Milton’s wife, Rose Friedman (a brilliant economist) co-developed all his famous theories, co-wrote all their papers and books, and declined credit for his solo Nobel prize.
[caveat: all the above from memory; details may be sketchy]

“If you put the federal government in charge of the Sahara desert, in five years there'd be a shortage of sand.” [Milton Friedman, Economist]

[Cobra]

could be a small bear flag. not sure.

Hi Cobra. Was Yesterday a MAD day? Thanks.

no

[L_T]

I've been lurking.

I feel like FCX has gotten away from me. I don't want to buy it at these levels.

For the purposes of interesting discussion however JJC looks like it's about to bump up on gap resistance at 48.

I will not obsess on any more news/rumors. I will not. It will show up in the sticks immediately. I will focus only on the green/red sticks. That’s all I need to know. I’ll stick with my sticks and my internals and my Cobra ….

Now I can obsess on metals
PAGING MICHELE and/or L_T

[Tabby]

Tabby

Long SDS.

Thanks. I'll check on SPXU then.

[KENA]

OK guess we should not stop trading..Here is a short..Looks like it can start dn..PANL is my new choice and MOS is still a good short.Lets see

[zhyuan04]

could be a small bear flag. not sure.

Hi Cobra. Was Yesterday a MAD day? Thanks.

no

Thanks. Let's see if we can close at MAD today. If not, I sense weakness in bulls.

[Michelle]

Go to 10:26ET on 1/25/11 (i think?), snag that post/chart, and come back

Go back to January? J/K...I will, but can't now.

[99er]

Tabby

I'm thinking that SPX falls to either the magenta or the red line. Then I'll switch sides.

http://99ercharts.blogspot.com/2011/10/spx_4477.html

But do your analysis; don't blindly follow some dude with crayons and a ruler!

[BullBear52x]

Bulls won, market love liquidity no mater where it comes form

[bobo]

StrikePrice or any other EW types:

As I said the other day I am new to the board.

Where do you think we are in the wave count. I suspect we are in (v) of C of minor 2. I am not sure if iii of (v) is concluding or we are near the end with one pullback and a push higher to conclude it. There is a Bradley model date tomorrow.

The sad part is that the retail investor who sells in May and goes away may be buying in right now and will be caught holding the bag. If there is a minor 3 down on the way it could be devastating for the retail sector heading into the holiday shopping season.

[KENA]

Hope you all are watching the volume..Very low on up and much more on dn.

[KENA]

P Bar to 124.31 just now..If so this closes the gap..Wishfull thinking but lets see.

[StrikePrice]

StrikePrice or any other EW types:

As I said the other day I am new to the board.

Where do you think we are in the wave count. I suspect we are in (v) of C of minor 2. I am not sure if iii of (v) is concluding or we are near the end with one pullback and a push higher to conclude it. There is a Bradley model date tomorrow.

The sad part is that the retail investor who sells in May and goes away may be buying in right now and will be caught holding the bag. If there is a minor 3 down on the way it could be devastating for the retail sector heading into the holiday shopping season.

I only count short-term so can't say major or minor. Gotta always make something your own. I count from Major Top or Bottom. 1075 most recent Major Bottom fully confirmed today with breakout of down channel from 1340. Here is my Alternate to my Primary posted earlier. This one is gaining more validity as this breakout holds above 1262.

[janez]

shorted xom.

[agnosia]

Bulls won, market love liquidity no mater where it comes form

exactly. this is all that you need to understand for this market. all commodities will shoot to the moon and people will buy risky assets. sad state of our world but we have no choice but to play along.

i'm surprised gold is not up more.