06/21/2012 Live Update

[KENA]

PS here is the chart.

[Al_Dente]

Four releases due 10:00 ET (any minute now)

existing home sales consensus 4.57m
phily fed survey consensus 0.5
fhfa house price index consensus 0.6%
leading indicators consensus flat 0.0%

[Mr. T]

All the data I see from this morning is bad....... why are we up?

Bad is good

No it's not

We know that

That's what the wink is for

[Mr. T]

Four releases due 10:00 ET (any minute now)

existing home sales consensus 4.57m
phily fed survey consensus 0.5
fhfa house price index consensus 0.6%
leading indicators consensus flat 0.0%

It's all going to be bad.

Too bad the helicopter isn't gassed up.

But I hear Ben wants to get some drones....

[Petsamo]

EWG, the ETF with German companies, is returning 6% for the last 6 months, that's 12% effective yield.

[Al_Dente]

existing home sales "WORSE THAN EXPECTED"
phily fed survey "WAY UNDER EXPECTATIONS "

[Mr. T]

existing home sales "WORSE THAN EXPECTED"
phily fed survey "WAY UNDER EXPECTATIONS "

Philly Fed is a disaster.

[dr659]

All the data I see from this morning is bad....... why are we up?

Bad is good

No it's not

We know that

That's what the wink is for

Got ya, I must use more of those

[Cobra]

target I'm not sure.

[Richarab]

existing home sales "WORSE THAN EXPECTED"
phily fed survey "WAY UNDER EXPECTATIONS "

Philly Fed is a disaster.

moody to downgrade banks later in day - xlf etf doing its sprint up knowing its gonna get spanked - VIX making comeback - could get ugly today me thinks


---
I am here: http://tapatalk.com/map.php?eoxonz

[OverUnder]

Let's just not have any more economic data, kk?

[soku]

jpy is my favorite. it seems it will reach 80.5 today.
data bad. it reads a lot like b-d

[cougar]

Paging COUGAR. What point do you use to validate a harmonic pattern? Break below B for a bearish Gartley?

Possible Bearish Gartley on EEM 60 min. Short via long EDZ. Also long DZZ and SMN (not a recommendation!)

Hello Clark! There is no fixed rule…

In a market of controlled volatility (like now), for lazy stuff, I use either + or - 14.6% or 23.6% of the latest Wing, as a rough indicator for confirmation or negation.


For high beta stocks, while subjected to major fundamental events, if the figure is relatively small, I use as much as +/- 50%……like, recently, for ONXX.

The important thing is to stick calmly to your own rule!

[jarbo456]

who was trading ARNA yesterday?

i missed the ONXX move...

still got in at 30 and sold at 45...but hot damn, it would've been nice to capture today's 35% move.

[ClarkW]

Paging COUGAR. What point do you use to validate a harmonic pattern? Break below B for a bearish Gartley?

Possible Bearish Gartley on EEM 60 min. Short via long EDZ. Also long DZZ and SMN (not a recommendation!)

Hello Clark! There is no fixed rule…

In a market of controlled volatility (like now), for lazy stuff, I use either + or - 14.6% or 23.6% of the latest Wing, as a rough indicator for confirmation or negation.


For high beta stocks, while subjected to major fundamental events, if the figure is relatively small, I use as much as +/- 50%……like, recently, for ONXX.

The important thing is to stick calmly to your own rule!

Great info, thanks Cougar!

[Mr. BachNut]

Market Neutral.
It seems to me that it often takes Mr. Market a few days to decide what to do post a Fed Meeting. Direction should be clear probably by tomorrow.
I am looking for a correction of overbought conditions.
If I put a short on, I don't plan to overstay my welcome.
Technicals seem positively oriented.
Any corrective move may not go too deep and at least initially get bought at logical support.
Have to see how things unfold, but I could be long again after things shake out.
Just a guess, but unless events really start to unravel, Mr. Market may want to take a run closer to the April/May declining tops line before running out of gas.
The inverse head and shoulders just completed seems to support that notion, but it is guesswork at this point.

[OverUnder]

Calling all central banks -- calling all central banks -- PPT bot activation more READY.

[soku]

i plan to short around 1348-49 which didn't happen.this is not a chart i like. i will just wait on side

[Cobra]

1st target met, I'm out 2/3.

[Al_Dente]

five minute internals
nydec = 1753 (not strong enough yet)