10/21/2011 Intraday Watering

[BullBear52x]

GM!
OpEx Friday! Good luck!
Big Manipulation in the pre-market and probably more ahead!
But, is it sustainable?

Cougar, I thought we can look to a possibility of 125ish, no? today I will only day trade no over the weekend position most likely.

Personal opinion: Looks sustainable for some time. Cobra is predicting a big move up. Looks like it. Reasons:
1) Bulls fought real hard to get above the 50MA on the daily and they're keeping it there. Go look at long-term charts. When you get above the 50MA and holding there, market goes higher. This is a powerful MA.
2) Just noticed yesterday (on Russell) that daily RSI was staying above 50 ... and the last times this happened were the big run-up's in March, 2010, and June, 2010.
3) We're going into November and November, December, January are historically the three power up months of the market cycle.
4) Earnings are coming in really well (except for AAPL).

Feel free anyone to contradict or provide additional info.

Daily 50ma is a sure signs of big change in trend, I used to call 50ma a fund managers' line.

[agnosia]

hey guys, guess we are headed back to the moon, i bought /cl 87.5 at the open. if u haven't bought already wait a few minutes for a pullback to the 10/20ema's on the 5min chart for a good risk/reward entry. good luck.

Hi agnosia,
Any target for crude?. Long @ 87,35 and today I do not want my cash go away...lol
I am looking at 89+ but maybe too bullish...

i'm thinking we base near 88.2-89 today for the next leg higher. could be this afternoon or next week. dollar just hit some support so i expect a pullback. break of 88-88.20 means we are headed lower.

[99er]

RUT
http://99ercharts.blogspot.com/2011/10/rut_21.html

Island Reversal coming up?

[CognitiveDissonance]

I am trapped in TVIX half in and started loosing some. Wish the market to return back in the range to break even.
What are the chances it might decline. Is midday reversal possible? Any suggestion would be helpful from active TVIX traders.

Going to be very volatile today, hard to say. I got out yesterday. Technicals on tvix are bearish throughout October, except for the last couple days and the vix continues to go lower. Check the daily chart for tvix, continued lower lows.

[stockcycle]

As SPX hit the resistance 1235. We must be prepared for some pullback.

[seekingknowledge]

GM!
OpEx Friday! Good luck!
Big Manipulation in the pre-market and probably more ahead!
But, is it sustainable?

Cougar, I thought we can look to a possibility of 125ish, no? today I will only day trade no over the weekend position most likely.

Personal opinion: Looks sustainable for some time. Cobra is predicting a big move up. Looks like it. Reasons:
1) Bulls fought real hard to get above the 50MA on the daily and they're keeping it there. Go look at long-term charts. When you get above the 50MA and holding there, market goes higher. This is a powerful MA.
2) Just noticed yesterday (on Russell) that daily RSI was staying above 50 ... and the last times this happened were the big run-up's in March, 2010, and June, 2010.
3) We're going into November and November, December, January are historically the three power up months of the market cycle.
4) Earnings are coming in really well (except for AAPL).

Feel free anyone to contradict or provide additional info.

Daily 50ma is a sure signs of big change in trend, I used to call 50ma a fund managers' line.

Thanks for the validation! I feel very good about 50MA. Enough to call family members and tell them to get back into their 401k funds. I had them all get out in July when we went under the 50MA.

[agnosia]

what is your experience on the 10/20 ema? do you get whipsawed allot on the 5min? do you look at 3 min and/or 15 min? would you not choose 13/34?
cheers

on breakouts like today the 10/20 ema work great. another good entry today would have been at 87.80 with stop of .05 cents, right at the 10ema.

on range days these ema's work well in the morning but then i use the 10/20 ema's on the 15min chart and 10/20/60 ema's on the hourly. i've had great experiences with these ema's for crude over a two year period. not tried the 13/34.

also all of my trades are based off the big picture daily chart.

[Cobra]

Cobra:
Is this a decisive break out or wait after consolidation for confirmation?

you saw breakout?

[GreedyKojiro]

As SPX hit the resistance 1235. We must be prepared for some pullback.

i'm with you... trailing stops are being created...

[Roadrunner]

Holding longs but nervous about European bailout discussions this . What if the Germans show reluctance to throw more money down the rat hole? Any ideas?

I think they are showing it... and it's going to happen soon...just ttrying to figure out how much they will push all-in. I don't quite know if the market will have priced it in when it is finally announced

[Al_Dente]

Eye candy internals update 5m
http://stockcharts.com/h-sc/ui?s=$NYDEC ... =246211365

Ear candy music updates
http://www.youtube.com/watch?v=DbHx0VYOoTA

http://www.youtube.com/watch?v=uQtRsSmU ... re=related

[wayne0708]

Cobra:
Is this a decisive break out or wait after consolidation for confirmation?

you saw breakout?

In deed, but breakout still has not taken out 10/18 high 123.5. What your thought?

[StrikePrice]

班长：Spy is makeing its 3nd push to new high, but Rut fail to follow. On Tuesday spx jump to 1230, rut didn't.
Does this make any sense to the current rally?
Thanks.

The whole rally doesn't make sense......is this euro bailout going to solve anything long term? no.

Classic Wall Street. Buy the rumor, sell the news. Some things never change.

[EvilTrader]

Usually markets have a very well known problem :

http://en.wikipedia.org/wiki/Bipolar_disorder

[Cobra]

班长：Spy is makeing its 3nd push to new high, but Rut fail to follow. On Tuesday spx jump to 1230, rut didn't.
Does this make any sense to the current rally?
Thanks.

SPY can go to new all time high itself without IWM, no problem. so this is not an important factor now, need more bearish evidences.

[Cobra]

Cobra:
Is this a decisive break out or wait after consolidation for confirmation?

you saw breakout?

In deed, but breakout still has not taken out 10/18 high 123.5. What your thought?

I mean I didn't see breakout yet. a few cents higher is not a breakout.

[bushwaffle]

Cobra:
Is this a decisive break out or wait after consolidation for confirmation?

you saw breakout?

In deed, but breakout still has not taken out 10/18 high 123.5. What your thought?

No breakout bro

[hutongerchuanzi]

Cobra, is it confirmed diamond pattern break out to the upside? thanks

[bonzodon]

I am looking for a small pull back and would be out with a small loss, not comfortable to keep it over the weekend.
Though there is always a chance of a bad news over the weekend; the market would fall like anything

[GreedyKojiro]

YESSSSSSSS