10/27/2011 Intraday Watering

[EvilTrader]

This could very well be my last trading week in many years. Unless we see a monster selloff late today / tomorrow...

But we all know markets don't fall. LOL

Had fun while it lasted, at least it wasn't all my personal holdings.. only 15% and I'm very young.

Every successful trader blew up an account or two in their lifetimes. I my self had my share of terrible trades

Learn to control your impulses, ego, etc. Going broke can be a lifetime learning experience or a goodbye. That depends on you.

But this rally is taking no prisoners.

I was betting a little on the short side and am losing this morning and that sucks.

[jarbo456]

MS + 11%
MS was the US bank stock that all were watching due to its excessive cds exposure to europe/china

haha. how awesome is that? you basically screw yourself by exposing your naked butt to a crumbling EU economy, and then not only did you get bailed out with a US led TARP program, two years later, you get bailed out AGAIN with an EU led TARP which negates your insurance obligations.

it's good to be one of the big guys. when your trade fails, have the government(s) change the rules of the game.

[pady]

Interesting video from Tom DeMark, technical analyst who's made some great calls lately:

http://www.alsosprachanalyst.com/market ... apped.html

After 200 pts it doesnt matter. I mean, buyers and sellers are screwed unless you are on the right side. Only ones making money are the smart ones and/or the brokers.

[Dow Trader]

Shorted YM @ 12050

[Cobra]

very stretched. 2.5% above the EMA20 normally is the furthest a bull could get, so still need some consolidation here.

[99er]

Honey...
SPX http://99ercharts.blogspot.com/2011/10/spx_4695.html

Let's load the truck.

[Petsamo]

Yesterday's P-bar totally forgotten?

It was in ScottradeELITE, but it's no longer there today.
Marketwatch.com never had the p-bar.

I refer to them as bad ticks; bad ticks sometimes mark the bottom or top and can point to either direction.

[Me XMan]

There's much more to downside than upside IMO.
Went up way too fast.

Cobra, if we are in a bear market, shouldnt the MA200 turn things around?

[agnosia]

officially testing MA200 now.

i am shorting this first touch. /es 1272

[Cobra]

This could very well be my last trading week in many years. Unless we see a monster selloff late today / tomorrow...

But we all know markets don't fall. LOL

Had fun while it lasted, at least it wasn't all my personal holdings.. only 15% and I'm very young.

Every successful trader blew up an account or two in their lifetimes. I my self had my share of terrible trades

Learn to control your impulses, ego, etc. Going broke can be a lifetime learning experience or a goodbye. That depends on you.

But this rally is taking no prisoners.

I was betting a little on the short side and am losing this morning and that sucks.

agree. it sounds cruel to say that, but it's true, so think positively and learn the lesson are the key here.

[barbaragull]

officially testing MA200 now.

i am shorting this first touch. /es 1272

i am praying that you got it right and make big money (i am so deeply under water with heavy short )

[jarbo456]

if anyone cares about the fundamentals of the situation, this was actually well written, which is surprising considering it came from marketwatch:

...The first is that the private lenders have “voluntarily” (ha ha ha) taken a 50% haircut, which while maybe not quite enough at least presents a possible if not probable way for Greece to grow out of the hole it’s in. (A number closer to 66% would have been better.) Read more on European debt deal.

More importantly, European banks will be recapitalized after — and “after” is the key word — writing their euro-zone debt exposure to market...

There still are plenty of details to be worked out — such as, who’s going to pay for the boost in the EFSF, who’s going to pay for the banks to recapitalize, how Greece will suddenly turn the corner when it’s still uncompetitive against its euro-zone neighbors, whether write-downs will be needed for Irish, Portuguese, Spanish or (shudder) Italian debt, or what the standing is of U.S. banks that bought insurance on Europe via credit-default swaps, since those instruments basically aren’t worth the paper or hard-disk space they’re written on.

[Cobra]

still very stretched.

[Mr. BachNut]

On Monday I was complaining that the SPY and VIX charts did not look like a complete pattern when considered together. That is no longer the case.
So, top hunters might want to start loading there guns.

[99er]

Honey...
SPX http://99ercharts.blogspot.com/2011/10/spx_9586.html

Call Tabby!

[SB73]

Standing around waiting for the action to come to me...too aggressive here either way is how an account gets blown up.

[cougar]

Significant change of fate for GS: if it can climb above the first resistance zone (111-114), next target is in the 131-132.5 area (4/8 MM level & previous historical support).

[agnosia]

officially testing MA200 now.

i am shorting this first touch. /es 1272

i am praying that you got it right and make big money (i am so deeply under water with heavy short )

my stop is HOD ,. looking good so far. i'm looking at covering near 1260

[Cobra]

Cobra, if we are in a bear market, shouldnt the MA200 turn things around?

Normally yes, but the question always is: are we in a bear market? So don't front run, let the market go first.

[Me XMan]

This plan is buying more time IMO. Nothing has fixed the problems.

if anyone cares about the fundamentals of the situation, this was actually well written, which is surprising considering it came from marketwatch:

...The first is that the private lenders have “voluntarily” (ha ha ha) taken a 50% haircut, which while maybe not quite enough at least presents a possible if not probable way for Greece to grow out of the hole it’s in. (A number closer to 66% would have been better.) Read more on European debt deal.

More importantly, European banks will be recapitalized after — and “after” is the key word — writing their euro-zone debt exposure to market...

There still are plenty of details to be worked out — such as, who’s going to pay for the boost in the EFSF, who’s going to pay for the banks to recapitalize, how Greece will suddenly turn the corner when it’s still uncompetitive against its euro-zone neighbors, whether write-downs will be needed for Irish, Portuguese, Spanish or (shudder) Italian debt, or what the standing is of U.S. banks that bought insurance on Europe via credit-default swaps, since those instruments basically aren’t worth the paper or hard-disk space they’re written on.