05/21/2012 Live Update

[ClarkW]

60 min. SPY: The rebound that peaked on the 14th and marked the beginning of this 2nd leg failed to reach the 38.2% level. This leg is stronger than the first which Cobra might say means at least another leg down. 38.2% Fib retracement level is $132.40. Not front-running which is a horrible habit of mine but might be looking to get short again around that level.

[Mr. T]

Mr T, quit slacking!

It's my fault..... I hit them too hard and they're having flashbacks....

[Cobra]

this rebound has legs, bears, no fight.

[stucap]

this rebound has legs, bears, no fight.

pullback looks a bit stronger than expected? just gunning for the EMA20?

[KENA]

I did not set up any trades this morn.Made up my mind I was not going to chase any busses today.What I would have traded is moving great..Isn't hind sight great..

[Richarab]

I did not set up any trades this morn.Made up my mind I was not going to chase any busses today.What I would have traded is moving great..Isn't hind sight great..

yes, its is.. and with 83 years,... i have a lot of hindsight...

[KENA]

I did not set up any trades this morn.Made up my mind I was not going to chase any busses today.What I would have traded is moving great..Isn't hind sight great..

yes, its is.. and with 83 years,... i have a lot of hindsight...

Got ya beat by one year.

[Cobra]

pullback to EMA20 for the 1st time, let's watch, usually the coming H2 is buy...

[Cobra]

H2 long. Let's see. a little late to say as I was distracted by my lovely daughter.

[1der]

I did not set up any trades this morn.Made up my mind I was not going to chase any busses today.What I would have traded is moving great..Isn't hind sight great..

yes, its is.. and with 83 years,... i have a lot of hindsight...

Got ya beat by one year.

My Great Uncle has you by 22 years and he is STILL trading! 1929 worth over $1 mill, 1932 worth zippo, he traded all his life.

http://www.youtube.com/watch?v=tIYnW8sb8bM

[TraderGirl]

weakness on 1 minute...a pullback to 1300 would be a 50-60% retrace....???

[Petsamo]

The slamming of JPM continues

[gappy]

I did not set up any trades this morn.Made up my mind I was not going to chase any busses today.What I would have traded is moving great..Isn't hind sight great..

Silver seems easier to game than the SPX. They squeezed hard last night only to be slapped back down almost tit for tat. Because I think they see weakness holding 130 or 135 for more than a couple of days in the cash market. Last squeeze at 9:30 this morning out of a diamond has now settled down into a true trade range and honest money now has it. Stories of China renegging on iron and copper contracts recently have hurt the ponzi people. Trend is still down unless it can break 30/oz and hold it.

[Carlos]

Are we going to get 2nd leg up? 1320's Maybe?

[MrMiyagi]

Come on Bull, don't tell me that's all you got you weakling.

[Petsamo]

Come on Bull, don;t tell me that's all you got you weakling.

The Nikkei, Hang Seng, & India didn't do much today. I'm surprised Europe rallied that high. We may take some back.

[Cobra]

it was a good H2 long. Let's see how far can it go.

[TraderGirl]

I did not set up any trades this morn.Made up my mind I was not going to chase any busses today.What I would have traded is moving great..Isn't hind sight great..

yes, its is.. and with 83 years,... i have a lot of hindsight...

Got ya beat by one year.

My Great Uncle has you by 22 years and he is STILL trading! 1929 worth over $1 mill, 1932 worth zippo, he traded all his life.

http://www.youtube.com/watch?v=tIYnW8sb8bM

What an awesome story!

[Mr. T]

Come on Bull, don't tell me that's all you got you weakling.

The Bulls got fat and lazy on the couch these last couple weeks. Just needs to catch it's breath = cardio isn't easy.

[Cobra]

revisit the morning high, key time.