12/06/2011 Intraday Watering

[janez]

Bears just died?

[Me XMan]

Gonna be real dead if SPX hitting 1280...

Bears just died?

[wayne0708]

indeed they did

[wayne0708]

Cobra!

[noob]

I suspect Cobra will say now it's critial, third test of 200 day, chances are it will not hold. ;D

[SB73]

Careful right here...watch for a reversal. A strong breakout and you have to join.

[Petsamo]

We're a hair from busting yesterday's high

[StrikePrice]

Primary Count stays on course and we continue on looking for 1,277 to 1,280 area.

[millie]

europes futures seem uninterested?
tagged 1265 drop off from tuesday, so down?

[Me XMan]

$127 and I'm out...looking at $126.5 to get back in for the ride.

[SB73]

rumor of 2 bailout funds...no wonder I have such interest in commodities and metals....

[Cobra]

sorry I'm back, had an urgent matter. Anyway I wasn't wrong, the bias is up and here's the target. a little late but still than no target. such a push up at least be 2 legged.

[dtguru168]

cobra, good to short now?

[TWT]

SPX: The overall move is corrective

Maybe someting like this :

[StrikePrice]

$127 and I'm out...looking at $126.5 to get back in for the ride.

I got out at 127 too. Nearing the end of the move, no need to risk a sharp reversal and then hope and pray it gets bought, I hate riding the roller coaster in the market when trading options.

[Daryl906]

This up move looks weak as NQ is not supporting. Cobra's outlook did mention that he expect another push but most likely will not create a higher high. S&P reach 1266/1267 yesterday and it reach 1265 so far. If it can't break yesterday' s high, then we have a double top and down we go. I am keen to short. Who else?

[MrMiyagi]

RUT is being turned back at the 150sma and SPX at the 200sma simultaneously.

[Me XMan]

You wonder about perfect timing at critical line?

rumor of 2 bailout funds...no wonder I have such interest in commodities and metals....

[Me XMan]

Let's see...2 legged would push SPY over $127.50

sorry I'm back, had an urgent matter. Anyway I wasn't wrong, the bias is up and here's the target. a little late but still than no target. such a push up at least be 2 legged.

[Cobra]

cobra, good to short now?

No. don't do that.

I think I'd better say more about trading strategy later. There's a limit about trading strategy because I'm not in a legal position to tell you buy or sell, so let me figure out what's the best way to do. Just don't short now until some real selling comes in.