04/01/2011 Intraday Watering

[cletus]

SPX
Divergence, anyone?
http://99ercharts.blogspot.com/2011/04/spx_01.html

Hey, nice chart. Did you notice in that picture how identical this latest run up was to the one in Feb? I don't think the top is in but they look so similar. Actually Monday might be up again.

[Cobra]

SPX
Divergence, anyone?
http://99ercharts.blogspot.com/2011/04/spx_01.html

that's what I'm watching now. MACD HIST is losing momentum that's for sure. Just some times before reverse, there could be one more push.

[cletus]

Looking to dump FAZ here soon. That would reduce me to 50% short heading into Monday but give me the option of buying FAZ back if they gap it up again. I think Monday could be up, so I'll hold 50% cash 50% shorts and wait for new highs on the S&P, unless I see a big move down here. The bounce in FAZ has been weak so far, but still above my stop level and I made about 1% on a big posn.

[agnosia]

crude 110 here we come....

Since you guys still have money to trade stocks, so crude 110 is nothing. Let's wait for $220.

lol. yeah something has to give here, i don't buy the consumer can handle $4 gas. I am already paying almost 4.20 myself but i work from home so i don't really care

[hdenandy]

$4.20 - is that per gallon ?

Try the equivalent of $9.25 per gallon as it is here in the UK !

[Cobra]

crude 110 here we come....

Since you guys still have money to trade stocks, so crude 110 is nothing. Let's wait for $220.

lol. yeah something has to give here, i don't buy the consumer can handle $4 gas. I am already paying almost 4.20 myself but i work from home so i don't really care

when gas was around $4 in year 2008, everyone complained. Nowadays you see anyone complain? So $4 is nothing, perhaps $5 would introduce a little concern, $8 might be the next complaining point.

[Travelfrog]

SPX - I think we are so close now, that we have to test the previous high. Expect possible drop to 1332 level before running up to previous high/new high monday then possibility of retest previous March low.

[cletus]

finally, now the market is moving, faz popping nicely now, not dumping it yet!

[uempel]

I was just about to leave when I saw this chart. I think neither bulls nor bears can make headway until SPX touches the dotted line to the right. But now I'm off...

[Cobra]

$4.20 - is that per gallon ?

Try the equivalent of $9.25 per gallon as it is here in the UK !

We pay $1.24 CAD per litter here. 1 gallon = 3.785 liters, 1 CAD = 1.035 USD, so 3.785 * 1.035 = $3.91 per gallon.

[Me XMan]

Do I see a crack down below?
CSCO just got no loves lately.

finally, now the market is moving, faz popping nicely now, not dumping it yet!

[Dow Trader]

Cobra what do you tink of dollar especially about today action is it bearish in your view?

I think EURO is bullish. Who the hell knows how US could solve its debt problem except to print more paper?

I trade EURO since the day it started (more than 10 years in day trading and position trading) and now I am flat which is rare for me but I am flat because EURO chart says there will not just be a big move but a huge move soon (soon = days ) and I am waiting for that move.

[Me XMan]

Thanks for the chart and have a great weekend at the hamps!
We us here can head back to our tents.

I was just about to leave when I saw this chart. I think neither bulls nor bears can make headway until SPX touches the dotted line to the right. But now I'm off...

Grid.png

[Cobra]

Hmm, pullback a little larger here. I was about to say there'd be a little lower low then low might have been in (too later saying this now as I was calculating how much I pay for one us gallon gas ), well, now since the pullback is a little bit larger, then I'll have to wait and see.

[cletus]

looks like the price target is to test gap support at SPY 133

[alvian33]

Dow trader move in euro to the upside or down?

[Me XMan]

WOOO HOOOO!

Hmm, pullback a little larger here. I was about to say there'd be a little lower low then low might have been in (too later saying this now as I was calculating how much I pay for one us gallon gas ), well, now since the pullback is a little bit larger, then I'll have to wait and see.

[pdz]

so 3.785 * 1.035 * 1.24 = $4.86 per gallon

[cletus]

that's an impulsive kind of wave down, so unlikely the bottom is in today

[Cobra]

Reiterate my evil plan, there'd be a little modification though which I'd do it in the After Bell, otherwise nobody would bother to read my after bell.