12/13/2011 Intraday Watering

[Mongoose]

Yesterday looks like a C&H in formation.

On the announcement of less than stellar retail sales, the market begins the Santa rally.

To put some sobering historical context behind the inflexibility of the ECB mandate on "price stability".

http://www.youtube.com/watch?v=37S22QJK_oE

Note the first steps were to remove productivity and infrastructure, and then implement "pay up" or else. . . 2 billion gold marks at that time was about 25% of Germanys GDP.

Another good read is "Lords of Finance and the Bankers Who Broke the World" and of course, "The Economic Consequences of the Peace".

Ho Ho Ho

[99er]

Honey?

ES http://99ercharts.blogspot.com/2011/12/es_7376.html

Let's go ski jumping!

[jarbo456]

RSP NOT leading today's moves.

[Al_Dente]

Bad retail numbers, market rally, go figure, even nyadv out of the gate was bull >2200, now > 2300,
but must hold above >2000 otherwise ruh rho
VIX 24 !!!!!!!

1 min internals
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =250028427

[uempel]

Yeah, I'm still with 1253/54:

[Mr. BachNut]

I am net long for a change.
Yesterday, I covered hedges at SPY 123.80.
My intermediate term mechanical model has been in buy mode for some time, and I have been waiting for a down draft to cover.
While my mechanical model signal is a buy, a detailed look at the components is actually pretty neutral and unenthusiastic.
So, I don't have a lot of conviction that this will unfold well or predictably, but I am OK with that.
I want to be better aligned with seasonality here.
I also believe that news flow will be slowing down, and the powers that be have reserved some dry powder to dress up year end. Could be wrong.
The long onlys want an up year; the hedge funds want a good finish, and the banks especially need to get to year end with a balance sheet that keeps them out of trouble.
I am not sure folks really want to own more stock here, but they do want good price marks on the stocks they already own.
I anticipate being inclined to fade year-end. Event/announcement risk remains high.
Hedges may go back on somewhere below SPY 122 and probably above 129.

[quientuves]

/CL pulling the markets up. apparently on Iranian military exercises rumor. in case anyone wondered or cared why we're, once again, off to the races straight out of the gates.

Iranian military exercises are not a rumor but an announcement made yesterday by them.

[BullBear52x]

Santa rally? well, everyone is hoping for so everyone should be right, 90% of the people is right all of the times, right? that will be too easy is it, one mistake I made was I didn't go long yest. knowing there will be a squeeze. oy! no o yay! this morning.

[Cobra]

target $126.20, I'm not sure of this anymore.

[SB73]

Bad retail numbers, market rally, go figure, even nyadv out of the gate was bull >2200, now > 2300,
but must hold above >2000 otherwise ruh rho
VIX 24 !!!!!!!

1 min internals
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =250028427

Gotta admit I had to rub my eyes twice to see the market moving up on poor numbers. Makes me wonder what all the hoopla was the Monday after Thanksgiving talking about the great sales retailers had. Look at Best Buy today.

[JTrader]

target $126.20, I'm not sure of this anymore.

No worries. All bullish targets are met with ease. Bearish targets? Don't hold your breath.

[SB73]

target $126.20, I'm not sure of this anymore.

So we have gone from likely gap fill to up 20 pts? Tough market to read.

[Al_Dente]

Bad retail numbers, market rally

Gotta admit I had to rub my eyes twice to see the market moving up on poor numbers. Makes me wonder what all the hoopla was the Monday after Thanksgiving talking about the great sales retailers had. Look at Best Buy today.

wow BBY !
here are internals across eight days
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =250649703

[wayne0708]

Cobra:
Any stats on fed day, like gap up then fade to close?

[fuddleduddle]

Might be one leg up? Something feels odd.. then again it's FOMC day today.

[fehro]

tagging the channel edges, still a possible bull flag, or a downtrend channel

[BullBear52x]

selling is strong now, if it roll down from here gave me no divergence I'll be missing out, that will be no fun.

[heavenskrow]

DX still looks like a bull flag. not too convinced on bull. might go short soon

[Cobra]

Cobra:
Any stats on fed day, like gap up then fade to close?

no.

I don't think it's a fade though. so far not bad for bulls.

[jarbo456]

EUR/USD testing the lows once again....for the 3rd, 4th, 5th? time depends on what time frame you're looking at.