11/23/2011 Intraday Watering

[Tabby]

My question to all. The triangle text book target 117 of SPY got. Do you think we could see a rebound next day or Bears will be ambitious and strong enough to win [email protected] before any possible rebound
?
Happy Thanksgiving.

In order to answer your question, I have a question for you. How far do you think $USD can go up? NOT eur/usd. only $USD?

I figure out that USD index may face resistance in 1-2 days, however EUR/USD still can sink. Investors may like other currencies but not EUR this time.

I noticed that since rally in OCT, $USD going up and at some point SPX and USD will g in the same direction. When $USD gets to resistance, then SPX will go up.

[michelangelo]

GLD going nuts.

[BullBear52x]

I don't see a perma bear come out bragging about new low target, so more to go? remember a week ago 1300 is not if LOL human. human. oh human. how can I convert to martian?

[Mr. BachNut]

Nice avatar Miyagi.

[jimme]

While the sky is falling, I am planning to go long GLD at 161. That might not be til next week, but it might be this afternoon. I am going to try this with GLL puts. I'm new here and I have a hard time watching my charts and typing. I apologize for no charts, but will try one soon. There is an uptrend line at 161 on my chart.. food for thought..
The most important thing is OUR LEADER HAS DONE IT AGAIN!!! Thank you COBRA! WOW! A very rocky road we travel.

jimme

[KENA]

I don't see a perma bear come out bragging about new low target, so more to go? remember a week ago 1300 is not if LOL human. human. oh human. how can I convert to martian?

I am being greedy today and that is not good.

[Al_Dente]

Still short....
As a guideline, I have found that, while oversold is a buy in a bull market, it is not necessarily so in a bear market. So, with an oversold market that gets more oversold, bear market rules appear to be in effect. If so, that suggests the rally from the October low was corrective, which in turn means that the Bear Market is on and the October low may not be THE low. Keep an open mind about what could lay ahead.

Mr. Bach: I like u because your sentences are longer than mine, but they say more important things, like that one (above) for example...
“Wise men speak because they have something to say; Fools because they have to say something.” [Plato]
Lacking any of my own, I am a dead-serious student of genius… and this board is loaded with it.

[Mr. BachNut]

My last 2 posts were bearish. So, here is a bullish one. If every close through Tuesday of next week is below yesterday's close, I believe we'll have a DeMark TD Sequential Buy signal.

[ccash04]

TLT is falling and so is UUP.. Watching HYG and IG to confirm but I think we move up to 117.5

[Dow Trader]

my imagination

[Cobra]

target coincide, so maintain the target, still a little shy.

[uempel]

uempel

I'd better sit down.

Ahh 99, I love these wild countermoves. I don't do these intraday things only for the money, it's fun. And I have a big (and long term) short posiiton too, so everything is fine. My ES entry is 65.50 and now I'm at breakeven...

[Al_Dente]

Bloomberg yapping JEF

[Anaconda]

Howdy all,

I've been, and continue to be, very bearish about our markets/economy. That said, I see an opportunity for longs at this stage (see chart - red oval marks the potential bounce target). Oversold conditions, # of consecutive down days, and the open gaps above (in blue), point to possible 61.8% retrace at around 123 SPY.

I hold L-T short positions and am playing a bounce at this point with small SPY call position.

Good luck and Happy Thanksgiving.

A.

[99er]

Did someone ask for the PPT?

http://img.myconfinedspace.com/wp-conte ... efshng.jpg

[pady]

There has been no exhaustion yet in hourly or day chart. We may get that early next week. I am out completely 100% from shorts ( 1270-1168 ). Only short oil. Took some longs in stocks - Disney and DD. Will stay cash and wait for 1150.

very handsome profit you got there

Thanks. I trade very little though ( 200 SPY ).

[qtipped]

bot some calls for a flip...you guys should thank me a few days ago for selling my puts...i told you it would go lower after i give up. i gave up when it was stuck at 122.

watch out, market's gonna tank now cuz i'm long! (it's only for a dead cat bounce)

got stopped out...i'm done...long side feel awful...will stick to short side...

[BullBear52x]

Did someone ask for the PPT?

http://img.myconfinedspace.com/wp-conte ... efshng.jpg

[BullBear52x]

next challenge is 200ma, well, this is second Fib fan intraday update.

[MrMiyagi]

Lunchtime in New York starting up.
Even though I have turned bearish, I am calling for a SPY bounce, up to 117.70-117.90$ range until after the boozers get back.

Please kids, don't bet the farm this is just a guess.