03/03/2011 Intraday Watering

[simpletrade]

If the 2/1 pattern play put, we'll see a new high soon, like early next week.

I used to short this market, now I give up and play some longs for a change. Difficult to fight POMO and Fed, it's their intention to move up the market, unless they run out of money(until June), only oil to 150 can stop this. I thought oil at 100 will crash the market, at least for a correction, but every dip is a buy so far.

[Cobra]

QQQQ is now at resistance, critical time.

[Me XMan]

I should have listenened to you Cobra yesterday. Shame on me.

Anyhoo. Got SDS and going short today.

[Cobra]

If the 2/1 pattern play put, we'll see a new high soon, like early next week.

I used to short this market, now I give up and play some longs for a change. Difficult to fight POMO and Fed, it's their intention to move up the market, unless they run out of money(until June), only oil to 150 can stop this. I thought oil at 100 will crash the market, at least for a correction, but every dip is a buy so far.

Oil 150 cannot stop QE3. Perhaps oil 1500 will.

[Cobra]

I should have listenened to you Cobra yesterday. Shame on me.

I didn't actually believe a huge gap up like now yesterday. I thought the possibility was low. Well, nowadays, we should play on lower possibility.

[q2model]

If the 2/1 pattern play put, we'll see a new high soon, like early next week.

I used to short this market, now I give up and play some longs for a change. Difficult to fight POMO and Fed, it's their intention to move up the market, unless they run out of money(until June), only oil to 150 can stop this. I thought oil at 100 will crash the market, at least for a correction, but every dip is a buy so far.

Oil 150 cannot stop QE3. Perhaps oil 1500 will.

The Federal Reserve is clearly singing off many different hymnals. Some examples: Kansas City Federal Reserve Bank President Thomas Hoenig said Wednesday that
the central bank should consider lifting its target interest rate from the current historical low of 0-0.25% that has been in place for more than 2 years before inflation
becomes a problem. But according to Fed Chairman Ben Bernanke earlier this week, inflation should remain low even though deflation is no longer a concern. At the
same time, however, Bernanke conceded that elevated oil prices could ultimately boost inflation and hinder the economy’s recovery. Additionally, St. Louis Fed President
James Bullard said last week that the Fed should consider halting QE 2 shy of its initial number of $600 billion in order to reevaluate economic improvement and the need
to complete the asset purchase program.

[Cobra]

Now we should seriously consider a Triangle case which IF INDEED means the market still has a final push up to a new high and perhaps up until April.

[Cobra]

If the 2/1 pattern play put, we'll see a new high soon, like early next week.

I used to short this market, now I give up and play some longs for a change. Difficult to fight POMO and Fed, it's their intention to move up the market, unless they run out of money(until June), only oil to 150 can stop this. I thought oil at 100 will crash the market, at least for a correction, but every dip is a buy so far.

Oil 150 cannot stop QE3. Perhaps oil 1500 will.

The Federal Reserve is clearly singing off many different hymnals. Some examples: Kansas City Federal Reserve Bank President Thomas Hoenig said Wednesday that
the central bank should consider lifting its target interest rate from the current historical low of 0-0.25% that has been in place for more than 2 years before inflation
becomes a problem. But according to Fed Chairman Ben Bernanke earlier this week, inflation should remain low even though deflation is no longer a concern. At the
same time, however, Bernanke conceded that elevated oil prices could ultimately boost inflation and hinder the economy’s recovery. Additionally, St. Louis Fed President
James Bullard said last week that the Fed should consider halting QE 2 shy of its initial number of $600 billion in order to reevaluate economic improvement and the need
to complete the asset purchase program.

What they say doesn't matter. Once there's politics involoved, FED cannot and never ever acts on its own will.

[99er]

SPX
Channels.
http://99ercharts.blogspot.com/2011/03/spx_6497.html

[Cobra]

QQQQ still fighting on resistance. This is a critical point for the market.

[simpletrader]

just took most of the profit from yesterday

[simpletrader]

Now we should seriously consider a Triangle case which IF INDEED means the market still has a final push up to a new high and perhaps up until April.

This is a huge triangle, break up or down, will be another 50point run on either way.

[Me XMan]

UUP is eating dirt. Dollar is in the toilet.

[Fritz Baxter]

QQQQ playing with gap resistance. Shouldn't it close the gap before heading down?

[simpletrader]

UUP is eating dirt. Dollar is in the toilet.

it could at a point going for reverse up

[Simsonic]

SPX has HUGE resistance/support at 1328.25, so if it hits that and bounces down look for a 20 point drop quickly. If it hits that and closes higher, it is going to blow past its high of 1344 up to 1380.

[Cobra]

QQQQ had the breakout.

[BullBear52x]

We are in super BULL cycle well, still trap in triangle. hope it's trending either direction is fine by me.

[Cobra]

It was a failed H2, but H3 is OK. The H2 is no good because the signal bar is red bar not good enough, the H3 however, the signal bar is pretty strong.

[Cobra]

A little evil plan, assume we pullback here a little. If simply strong push up here, then plan no long valid.