02/15/2012 Intraday Watering

nonabear · Post by **nonabear** » Wed Feb 15, 2012 10:50 am

10/11/07 was the top of the market...the prior day had a candle just like today, and it opened up on 10/11/07...and the market went down from there. Has the same pattern...but it's a big stretch reading this into it.

ClarkW · Post by **ClarkW** » Wed Feb 15, 2012 10:52 am

SOXL working well today. Bought yesterday afternoon after broke above TL. Certainly on a short leash in this environment...

TraderGirl · Post by **TraderGirl** » Wed Feb 15, 2012 10:54 am

Did anyone see this chart on Kimble Charting? I saved the chart in my files, and went back to post the link today, but it was no longer on their website...?? Anyways, shows how margin interest has decreased which has usually preceded market corrections...

Post by **Cobra** » Wed Feb 15, 2012 10:54 am

normally, this should be 2 legged up, so the very 1st pullback would be bought I guess.

Richarab · Post by **Richarab** » Wed Feb 15, 2012 10:56 am

Gold has room to go up, so long as we all keep printing money and artificially deflating interest rates - I just want to short it hard today and tomorrow - shall I do this cobra?

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I am here: http://maps.google.com/maps?ll=29.751242,-95.453285

soku · Post by **soku** » Wed Feb 15, 2012 10:56 am

worth note, spx was about flat while vix gained over 20% since last week.
i am tired of calling a top. i will say it is just not right. let's see which side is lying.

KeiZai · Post by **KeiZai** » Wed Feb 15, 2012 10:56 am

ClarkW wrote:
Richarab wrote:
KeiZai wrote:McClellan is on my side so my strategy for today : if we break below 1354 it is head fake aka bull trap and im going short, tvix dont have discount price for today but will try it or maybe financials they are pretty weak
would you short gold here?

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I am here: http://maps.google.com/maps?ll=29.751504,-95.453311
Richarab. I don't have an opinion on GLD myself but wanted to know if you had any thoughts on $GOLD:$PLAT and/or $GOLD:$SILVER long term. A lot of talk of the extremes of $GOLD:$PLAT

For long term Plat is better 70% production are in south africa and they want higher prices ...http://www.miningweekly.com/article/pla ... 2012-02-13

btran874 · Post by **btran874** » Wed Feb 15, 2012 10:57 am

hmm, nasdaq still up a lot, weird.

champix · Post by **champix** » Wed Feb 15, 2012 10:57 am

There is Iran parameter trading commodities currently.
Both crude and Gold could go really higher on news trading.
eg : this morning, Iran stopped crude transfer to France, Italy and couple of other eu countries because of sanctions on their nuclear programm.
Crude jumped 1 USD in 40 minutes... so, so carefull !

Regarding Gold, I am bearish, but look at the chart : a news could send him quickly to 1760 area.

GLTA !

Richarab · Post by **Richarab** » Wed Feb 15, 2012 10:57 am

Cobra wrote:normally, this should be 2 legged up, so the very 1st pullback would be bought I guess.

Let's see. Yesterday you got whipsawed pretty good

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I am here: http://maps.google.com/maps?ll=29.751320,-95.453392

SB73 · Post by **SB73** » Wed Feb 15, 2012 10:58 am

For those valentines day hangovers

Dear UNG - I am glad you are not my lover, but you still sit in the triangle with some potential for real breakout, but you must clear 5.45 to 5.50 and stick there.
Dear TVIX - You have been very good to me, but now the VIX is near the upper bollinger band and the SPY hasn't moved and inch. Are you overloved?
Dear SPY - How many higher highs do you have left before you roll over. Can China save the Euro? Will Greece ever be bailed out? Can the market rally on the same rumor / story through 2012.
Dear Cash - I hold you not because I want to, but because Benny has sent you to me. Hoping to find a better home soon.

Ok back to work and GLTA. I don't see any high quality setups at the moment.

TraderGirl · Post by **TraderGirl** » Wed Feb 15, 2012 10:58 am

Bank of Japan decided to do their own QE yesterday...reason for big jump...
http://www.thisismoney.co.uk/money/news ... ds-newsxml

sachsun · Post by **sachsun** » Wed Feb 15, 2012 10:58 am

DAX is making lower lows. Is SPX is going to follow?

Post by **Cobra** » Wed Feb 15, 2012 10:59 am

ok, another hourly black bar. you all know what would happen for the next few bars, do you?

Al_Dente · Post by **Al_Dente** » Wed Feb 15, 2012 10:59 am

1 min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =250028427

ClarkW · Post by **ClarkW** » Wed Feb 15, 2012 11:00 am

Initiated 1/4 position in MX this morning. Tight leash but might be ready to run...

stucap · Post by **stucap** » Wed Feb 15, 2012 11:00 am

Nat gas doesn't look bad. Re-testing the triangle breakout? I think $3 is a reasonable target.

Petsamo · Post by **Petsamo** » Wed Feb 15, 2012 11:01 am

TraderGirl wrote:Bank of Japan decided to do their own QE yesterday...reason for big jump...
http://www.thisismoney.co.uk/money/news ... ds-newsxml

US banks approve!

ClarkW · Post by **ClarkW** » Wed Feb 15, 2012 11:04 am

TraderGirl wrote:Bank of Japan decided to do their own QE yesterday...reason for big jump...
http://www.thisismoney.co.uk/money/news ... ds-newsxml

Quick read but James Rickard's book 'Currency Wars' is a good one. Just finished myself, very good but very depressing. My next book...'How To Stop Worrying And Start Living' by Dale Carnegie

trendfollower · Post by **trendfollower** » Wed Feb 15, 2012 11:05 am

Levels look to still be in play for indexes and more:

http://goo.gl/F3Oyl

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