01/04/2012 Intraday Watering

[dcurban1]

Corba~ Is the BAC pattern consolidation then breakout upside?

I would not go anywhere near BAC right now.

[uempel]

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

Thanks and Happy New Year!

[quientuves]

I think China is the bigger market for Iranian oil. Europe is not a great customer. But thew fact of european embargo could release aditional measures from Ayatolah's regime.

[BullBear52x]

Bulls need to defense this area if failed here the down drift will be fast. right chart is /ES left is SPY

[alvian33]

Cobra, what do you think of Gold? Do you think it's a short, will it retest the lows? or better to stay away for now? thanks

[Cobra]

Cobra, what do you think of Gold? Do you think it's a short, will it retest the lows? or better to stay away for now? thanks

read yesterday's portfolio update. I personally don't think gold was bottomed, it's just a possible 2 legged rebound.

[mozart]

I think China is the bigger market for Iranian oil. Europe is not a great customer. But thew fact of european embargo could release aditional measures from Ayatolah's regime.

Even if Iran decide to do something that will last couple of days, max 2 weeks.
Of course that will push Oil to spike big time.

[Cobra]

in case you wonder why consolidates here: it's a support area.

[BullBear52x]

Corba~ Is the BAC pattern consolidation then breakout upside?

I would not go anywhere near BAC right now.

BAC got swing sell signal just now, just find best sell entry if I were to play it. well, I am playing FAS evil side.....

[alvian33]

Cobra, what do you think of Gold? Do you think it's a short, will it retest the lows? or better to stay away for now? thanks

read yesterday's portfolio update. I personally don't think gold was bottomed, it's just a possible 2 legged rebound.

thanks, that's why I asked, because it looks like per portfolio gold is long, sorry if I disclose here what I should not..

[Rezito]

Still watching the Iran and Oil setup here... ZH posted a Reuters report that the EU has agreed on an embargo of Iranian oil in principle.

BS Alert: Iranian Oil - BS 4

As a nominated BS (Black Swan) monitor, I am giving this a BS level of 4.

BS level goes from 5 to 1, with 1 meaning that BS event is just about to happen.

Being Iranian and following the developments there it seems that this wouldn't happen until probably spring or somtetime in the summer. I would not be shorting oil here. The regime in Iran is unpredictable and they can get stupid very quickly. The power struggle within the regime is another issue that makes this more unpredictable as one of the arms of the government can just take thing into their own hands. All that's needed is ONE bullet to be fired in the Persian Gulf.

[Petsamo]

went long RETL 59.35, 40 shares only

[Al_Dente]

5 min internals
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

[KeiZai]

Tomorrow is a busy day as well as friday, so I will keep shorts just for now, reloading process will be on friday

http://www.fxstreet.com/fundamental/economic-calendar/

[Cobra]

1st target met. now the 2nd.

[SB73]

The triple divergence on the 60 min MACD which just crossed negative tells me that there is more to go down. I do recognize the support from yesterdays gap.

[jarbo456]

talk about 2011 redux here...are we really going to go for a MDD after a MAD?

doubled my shorts on the S2 bounce, but will probably either go flat or take half off before the end of the day (at this point at least). /DX 80.50 was decisively taken, and bodes well for bears.

[KENA]

Cobra, what do you think of Gold? Do you think it's a short, will it retest the lows? or better to stay away for now? thanks

In addition to Cobras quote..Look at the GLD chart from last April..You will see it had a sideways move then big leg up then Sept big dn leg .Then developed a H & S and now broke dn.( this chart has a lot of education in it) It has support at 143 but could have more dn side. But who knows..Wait and see.

[Cobra]

Cobra, what do you think of Gold? Do you think it's a short, will it retest the lows? or better to stay away for now? thanks

read yesterday's portfolio update. I personally don't think gold was bottomed, it's just a possible 2 legged rebound.

thanks, that's why I asked, because it looks like per portfolio gold is long, sorry if I disclose here what I should not..

no problem, thanks. I think GLD and Euro are correlated, so maybe trade both GLD and Euro is not a good idea.

[alvian33]

Cobra, what do you think of Gold? Do you think it's a short, will it retest the lows? or better to stay away for now? thanks

In addition to Cobras quote..Look at the GLD chart from last April..You will see it had a sideways move then big leg up then Sept big dn leg .Then developed a H & S and now broke dn.( this chart has a lot of education in it) It has support at 143 but could have more dn side. But who knows..Wait and see.

well if I always wait and see, I will never trade, I need to trade based on what I expect and then see, otherwise, it's not trading