12/12/2011 Intraday Watering

[BBFinance]

BB, what's the question?

What is your take on Santa Rally?

Thanks for responding.

[knock]

I smell bears trap, sniff sniff niff....yeap! smell like bears trap

your estimated bottom of the day? thanks

[Me XMan]

noooo it's a bulls trap

I smell bears trap, sniff sniff niff....yeap! smell like bears trap

[Al_Dente]

ZSL has been following the bears most of the day
Not any more, look at those last two selling volume bars 5 min

[fehro]

a possible sharp down move could be coming.. if this pattern plays out

[Me XMan]

FLUSH IT!

a possible sharp down move could be coming.. if this pattern plays out

[ccash04]

anyone follow CRM? wondering if I should cover short or hold for re-test of 103.

[MrMiyagi]

SPX 1225 possible bounce level

[BlackThought]

anyone follow CRM? wondering if I should cover short or hold for re-test of 103.

i'm holding my shorts

[BlackThought]

market likely to close green tomorrow IMO

[newbie_77]

so having fun looks like there is another leg of downside coming...

FLUSH IT!

a possible sharp down move could be coming.. if this pattern plays out

[waverider]

Good point Al, one can steal a lot of useful stuff from Cobra's getting started section as well. Not selling my trapped long yet .

lets hope and pray we caught the low[/quote

Agreed, did you enter on a limit or stop buy? You holding long for a swing?

[heavenskrow]

hmmmm we are in a bear flag but also retesting the neckline of a clean inverse H+S from Thanksgiving..... I wonder which pattern is stronger....

[Me XMan]

Clap your hands if you believe in Santa Rally.

[heavenskrow]

Good point Al, one can steal a lot of useful stuff from Cobra's getting started section as well. Not selling my trapped long yet .

lets hope and pray we caught the low[/quote

Agreed, did you enter on a limit or stop buy? You holding long for a swing?

limit... I am soo scared holding this though.

[uempel]

BB, what's the question?

What is your take on Santa Rally?

Thanks for responding.

Ok, this is my very personal opinion and chances that I'm right are about 10%...

A) Marketmakers will try to keep SPX above 1223 before xmas, B) maybe there will be a trading range between 1220 and 1250 in the next few days, C) after xmas marketmakers might try to push SPX above 1265 in very thin trading, but I don't believe that will last more than two or three days.

Generally my charts look weak after today's trough and I'll be selling strength, unless some sexy support level (such as 1223) coaxes me into a DT long...

Sorry that I did not notice your question: besides playing the market I'm filling out tax forms today, so I'm not following the forum very closely.

[uempel]

BB, what's the question?

What is your take on Santa Rally?

Thanks for responding.

Ok, this is my very personal opinion and chances that I'm right are about 10%...

A) Marketmakers will try to keep SPX above 1223 before xmas, B) maybe there will be a trading range between 1220 and 1250 in the next few days, C) after xmas marketmakers might try to push SPX above 1265 in very thin trading, but I don't believe that move will last more than two or three days.

Generally my charts look weak after today's trough and I'll be selling strength, unless some sexy support level (such as 1223) coaxes me into a DT long...

Sorry that I did not notice your question: besides playing the market I'm filling out tax forms today, so I'm not following the forum very closely.

[CognitiveDissonance]

Not a lot of wiggle room on the VIX in any time frame...

Should have listened to my own advice when I said I probably won't hold TVIX for the rest of the year...backwardation is a biatch.

BTW, I really like the board so I broke the piggy bank and got a membership

[uempel]

hmmmm we are in a bear flag but also retesting the neckline of a clean inverse H+S from Thanksgiving..... I wonder which pattern is stronger....

Ha, I've got 1223/24...

[BBFinance]

Thanks for sharing your thoughts Uempel.
Have fun filling the forms.