09/29/2011 Intraday Watering

[heavenskrow]

SPY/TLT ratio

even on the longer time frame, 60 min, it looks set to drop again.

EDDDIT, cant tell =]

Heavenskrow -- looks like TLT has broken above the declining trend line finally. Up nicely today. Do you think it is going back into rally mode and make a run for the upper channel again?

Possibly. Im not trading TLT anymore, but should be a low risk/high reward trade.

[cougar]

GM Cobra & Co!
Had to do lots of operations this morning. Basically, I sold stocks into the opening and got some fresh IWM puts.

[AK84]

SINA Targets :

73.55 (80DMa)
66.95 (100 DMA)

[cougar]

Nice commentary "rhight"!

[cougar]

PAGING COUGAR!!!

Can you please put up a chart of SINA with next levels ? Thank U !

Just saw your message! Yes, will do in a few min.!

[heavenskrow]

glad i didnt get shaken out by the gap as I used to, when I first started trading

[gabor]

What was the news at 8:30am? If any?

[jarbo456]

What was the news at 8:30am? If any?

gdp and initial jobless claims.

[jarbo456]

SINA Targets :

73.55 (80DMa)
66.95 (100 DMA)

would be nice to get under 70 by the end of the week...which is totally possible. probably sell my puts around then, or at least half of them.

[Cobra]

qqq is weak, already broke below yesterday's low.

[gabor]

What was the news at 8:30am? If any?

gdp and initial jobless claims.

Was it good?

[silicon_beaver]

What was the news at 8:30am? If any?

economic data. looks better than expected. possibly a reason market opened high.

Sep 29 8:30 AM Initial Claims 09/24 391K 415K 419K 428K 423K
Sep 29 8:30 AM Continuing Claims 09/17 3729K 3700K 3715K 3749K 3727K
Sep 29 8:30 AM GDP - Third Estimate Q2 1.3% 1.2% 1.2% 1.0% -
Sep 29 8:30 AM GDP Deflator - Third Estimate Q2 2.5% 2.4% 2.4% 2.4% -

[Al_Dente]

5 min internals SPY and $NYADV (green) advancers = bull point of view
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

And same, but inverted-spy/SH with $NYDEC (red) decliners = bear view
http://stockcharts.com/h-sc/ui?s=SH&p=5 ... listNum=15

[stockcycle]

Seems to me that Bears want this market back visit 1160 first.

I expect some consolidation around 1160.

[silicon_beaver]

now, paging Cobra,
why market broke down 116.8, where to stop then bounce? wait for his evil plan.

[jarbo456]

What was the news at 8:30am? If any?

gdp and initial jobless claims.

Was it good?

yup. miraculously, the data showed that we're doing great. -_- revised up on the q2 gdp by a marginal amount, and initial claims below 400k which has been a huge barrier

[Tabby]

Good morning Cobra, and all;

Crazy market. Price again testing 20 DMA, and poking above yesterday's broken up trend and horizontal support. The market is doing it's best to shake everyone out of their positions. More range trade. The down trend that began yesterday would be considered broken if price breaks above 1186 (78.6% retrace of yesterday's wave down - pink fib). As you can see, yesterday's high was stopped at the 78.6% retrace of prior swing high (green fib), bounced around between the 61.8 and 50%, then fell rapidly and found support near the 38.2% line. This MAY be a wave 2 up of a 5 wave down minor trend sequence (a few days long). Although, by my calculations, since price made it into the upper right hand corner of the red time and price box before reversing and seems to have bounced off of the upper left corner of the blue box, then that would have to be interpreted as short term bullish. IF 1150 turns out to be the 60 min. cycle bottom, the upside statistical target is in the red price box on the right hand side (average +/- std. dev.), so 1200 would be minimum expected. Stockcharts.com analysts are still bearish on the intermediate term.

Thanks for your chart and info. Well done.

[cougar]

PAGING COUGAR!!!

Can you please put up a chart of SINA with next levels ? Thank U !

Just saw your message! Yes, will do in a few min.!

AK84: SINA looks good if you are short:

[pady]

I am expecting this to go to 116 and then turn around to 117.6 or so. That will complete subminuette ii of the impulse down from 1196.

[cougar]

GM Cobra & Co!
Had to do lots of operations this morning. Basically, I sold stocks into the opening and got some fresh IWM puts.

Here is IWM. Now it is at 2/8 which, could be support...We shall see...