11/03/2011 Intraday Watering

[99er]

RUT
http://99ercharts.blogspot.com/2011/11/rut_4616.html

Not much more to add today. GLTA.

[pady]

btw...your work is great Pady, good calls all around.

Thanks. BTW, I am new to EW. I also use a mechanical crossover system to trade sometimes. But I try to confirm with EW.

[Dow Trader]

This is the only possible down line and hope for bears I see

[Cobra]

multiple support here. let's wait and see.

[juankim]

Update:

12.png

@uempel -

Intriguing 'green' cycle. Hard to gauge from the chart, but what timeframe is the cycle? Looks to be under/around 6 days.

Thanks.

[endoal]

This is the only possible down line and hope for bears I see

Here's another possible line. May be just a big back test in a new bear trend.

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=1

[Mr. BachNut]

This may seem obtuse, but apparently the Groupon IPO is supposed to price tonight. So, the jackals will operate to facilitate a warm reception and perhaps generate some irrational exuberance when it starts trading tomorrow. Bears aren't invited to the party...

[tdo722]

This may seem obtuse, but apparently the Groupon IPO is supposed to price tonight. So, the jackals will operate to facilitate a warm reception and perhaps generate some irrational exuberance when it starts trading tomorrow. Bears aren't invited to the party...

Can't wait for groupon to hit the high so we can all short it. Groupon is NFLX is the near future.

[waverider]

btw...your work is great Pady, good calls all around.

Thanks. BTW, I am new to EW. I also use a mechanical crossover system to trade sometimes. But I try to confirm with EW.

Pady, if you want a wave count, here's a link to the count of one of best EW guys on the net, who placed 10th overall in the cnbc millionaire challenge: http://imageshack.us/f/525/starposition.png/

You can scroll through his images if you enlarge them.

[Dow Trader]

Closed all longs

[pady]

Update:

11.png

@uempel...

How do you come to trading conclusions based on your chart ? All I see is the MAs ( for fibo numbers ). Do you trade just using these ?

[jarbo456]

This may seem obtuse, but apparently the Groupon IPO is supposed to price tonight. So, the jackals will operate to facilitate a warm reception and perhaps generate some irrational exuberance when it starts trading tomorrow. Bears aren't invited to the party...

Can't wait for groupon to hit the high so we can all short it. Groupon is NFLX is the near future.

doubt options will be trading for another few weeks/month on groupon, and don't think shorts will be available to retailers right off the bat. with that being said, i agree with you - think it'll be a ripe high beta short to get in on especially if puts become available early Q1 2012.

[tdo722]

Closed all longs

nvm, i thought you were speaking of closing all shorts.

[tdo722]

Closed all longs

nvm, i thought you were speaking of closing all shorts.

yes, shorts is the only way to go right now.

[jarbo456]

Closed all longs

why? what do you see?

haha...what the heck?! i thought you didn't see anything bearish until at least 1265/1270...and or 12090 for the C&H pattern you put up earlier...lol

[waverider]

Update
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =247748592

http://www.youtube.com/watch?v=IlRF43-x ... re=related

If this continues up today/gaps up tomorrow I'm screwed. R.I.P. Amy.

[pady]

btw...your work is great Pady, good calls all around.

Thanks. BTW, I am new to EW. I also use a mechanical crossover system to trade sometimes. But I try to confirm with EW.

Pady, if you want a wave count, here's a link to the count of one of best EW guys on the net, who placed 10th overall in the cnbc millionaire challenge: http://imageshack.us/f/525/starposition.png/

You can scroll through his images if you enlarge them.

Thanks, wave. Will check it out.

[tdo722]

125.34, my short target, will close out 75% and hold only 25% with stop at 125.90.

[Al_Dente]

Materials have been one of strongest groups all day
Just got early “scalper” sell cross signal on UYM,
intraday scalpers only

[Me XMan]

Damn that's a lot of dough

who is shorting with me, raise your hand? I short at 126.04. Looking for at least $1000 profit on 1500 shares of spy.