10/25/2011 Intraday Watering

[simpletrader]

Congrats to all of us Shorts !!

We still have 6 hours left in the trading day, fellas.

not if you take some profit

[StrikePrice]

The VIX was due for a pop.

I'm thinking my count that this is a Wave 4 Bear Trap is the most logical bet until 1226 and the Green Trendline is broken decisively.

The ride down feels good so far but be prudent, the Bull may still have a few kicks left to get to the 200MA before Month end.

[bushwaffle]

I think if the EMA20 on the 5min can meet price at 124.5 we'll have another short available.

[agnosia]

fwiw dept: Not a single >1,000 contract trade in the ES since the open.

be very careful guys. liquidity has just vanished on /es ...

[barbaragull]

Well, things seem to be different now

[jarbo456]

terrible consumer confidence number.

[StrikePrice]

CNBC Alert says Finance Ministers cancel Wednesday meeting, Summit still planned.

What does that mean?

[L_T]

Al Dente: thoughts on copper / FCX ? Never got the interesting sounding chart you described yesterday. I think the homework assignment was too much for whomever you gave it to.

[stockcycle]

Seems to me that Bears may want to challenge 1233.

[Unique]

Dude, everyone knew a drop was coming. HINT HINT DJI 200SMA daily...Bulls were delusional and greedy! Waiting for my SPY puts to double again.

[SB73]

CNBC Alert says Finance Ministers cancel Wednesday meeting, Summit still planned.

What does that mean?

It means we are all screwed, but the market can be juiced for ahile longer on rumors and promises

[jarbo456]

CNBC Alert says Finance Ministers cancel Wednesday meeting, Summit still planned.

What does that mean?

it just means the meeting to plan the meeting was cancelled. just as merkel cancelled the meeting with sarkozy to plan the meeting they were having last weekend.

it's all about meetings of meetings of meetings, and never really accomplishing anything.

i do like Art Cashin's idea of, "if they never actually vote on the EFSF, then they can't really ever fail on that vote...and apparently the equity markets think that's really positive"

[barbaragull]

I expect bulls at least make one run, so longed some BGU (now under water )

[Apple]

In yesterday TVIX at 49.9, out today at 55. I'm done: too many mixed signals again. I did not go into TZA. IMHO, I think this is another BTD.

[Al_Dente]

little whipsaw to the market? +/- 75 points in the past 5 minutes. awesome.

Morning jar:
Weakest sectors: biotech, trans, banks, industrials….
U like that NYDEC >2400 ?
Only bear SH here…5m internals
http://stockcharts.com/h-sc/ui?s=$NYDEC ... =246012600

[cougar]

Finally...sold those VIX calls...for a good price

[silicon_beaver]

Joining the party of bears.

Cheers.

Thanks Cobra for the evil plan.

[stocksage]

This market has a good way to fall still. Holding 1/2 my shorts for the bigger score. Then you don't have to trade as often and enjoy life! Have a nice day.

[uempel]

Update: I'm looking at intradav low 1130ish.

[jarbo456]

little whipsaw to the market? +/- 75 points in the past 5 minutes. awesome.

Morning jar:
Weakest sectors: biotech, trans, banks, industrials….
U like that NYDEC >2400 ?
Only bear SH here…5m internals
http://stockcharts.com/h-sc/ui?s=$NYDEC ... =246012600

not to sound greedy. but it would be great to have a really healthy correction to say something like 119, then i'd get long, which would be great.

to be honest though, as bearish as this board has been, i've been hearing WAY too many established tech analyst predicting this end of the year run to the low 1300's. the contrarian in me has to believe we're either making that run sooner or later than predicted, and we end the year down. no established chart pattern to show this quite yet, but i'm working on it. just feeling too many people on the right side of the canoe for the end of the year.