10/07/2011 Intraday Watering

[tdo722]

OK, today is gonna close in RED for sure now after italy and spain got downgraded. outlook for Monday don't look so well either. will be holding my shorts over the weekend for sure now.

[spuderik]

And just like that... bearish signs disappear, and bullish signs strengthen

USD turned green
Copper dropped close to even
10 Yr prices rising off lows
Financials/Russell drop to new lows

This will be quite a tug-of-war until the end of the day. Fitch downgrades and German motion are not helping stock market.

[janez]

In shorts: DG, AMZN, HANS, SPY

Thought I was in HANS call. I am in CHKP instead. Damn, missed HANS.

[BullBear52x]

Bears are strong, I see what I hope to see on the bear side

spy 10min RSI(50) <50 yes, baby stay down. stay down

[cov_lite]

Fitch also warned on Portugal...may be a fallen angel soon. Having spent the last 12 yrs in the bond markets...IMHO...Fitch has better credibility than S&P and Moody's.

[Michelle]

Chart from Gann360

http://content.screencast.com/users/cha ... 6_2346.png

[tdo722]

i guess portugal, ireland will be next?

i was 1 cent from being stopped out of half my shorts....crazy markets. -_-

once again, another example of russian roulette with a fully loaded .45...anyone having traded markets for awhile knows that on some days it's better to be lucky than anything else.

Geez, if your short is not set at today's high then that was very foolish. I set mine 3 points above today's high at 1174.

[rpccharts]

The Germans WILL not bail out the rest of EU - therefore there is NO BACKING for the euro... Just timing

[rpccharts]

BUY DOLLARS - they are not going lower

[jarbo456]

i guess portugal, ireland will be next?

i was 1 cent from being stopped out of half my shorts....crazy markets. -_-

once again, another example of russian roulette with a fully loaded .45...anyone having traded markets for awhile knows that on some days it's better to be lucky than anything else.

Geez, if your short is not set at today's high then that was very foolish. I set mine 3 points above today's high at 1174.

was in for 20 puts from yesterday's close, then 20 more at the open with a stop above the NFP release spike. i then added 40 more at 116.30 with a stop for half the position at 116.65.

so you're absolutely right, the initial position was going to be held with a stop above this morning's premarket spike. but i wasn't going to risk the entire 80 puts up to that level...thus the stop at 116.65

[tdo722]

good news is you can set it at 1166 now after fitch downgraded spanish and the italian

[PhilM]

Another bear flag forming?

[cougar]

Fitch downgading Spain!

12 big banks in UK got down grade last night, funny isn't it?

Yes, funny indeed...

[BullBear52x]

good or bad, right or wrong choices for counter trend crews, we are getting the daily reversal candle so far.

[PhilM]

Or is it a rising triangle?

[EvilTrader]

By watching markets every minute you can clearly see how some players get the information before others and get positioned accordingly.

Didnt you note strangely heavy SPY selling just before the downgrade annoucement ?

hmmmm

I want a fair play !

[Cobra]

100% measured move target reached. now could be another small bear flag. not sure will have to wait and see.

[seekingknowledge]

OK, today is gonna close in RED for sure now after italy and spain got downgraded. outlook for Monday don't look so well either. will be holding my shorts over the weekend for sure now.

Ditto!!!! GO, GO, GO BEARS!!! ROARRRRRRRR!

[uempel]

Check the MA 610. It proved to be such an important support these last weeks, so it's kind of polite behavior if SPX goes down to say good-bye, right?

[agnosia]

The Germans WILL not bail out the rest of EU - therefore there is NO BACKING for the euro... Just timing

unfortunately the germans don't have a say in this as much as the think they do. there is an oligarchy in charge that won't give up power that easily. in the end the bankers will win again and get bailed out... u can bet on it.