10/06/2011 Intraday Watering

[Al_Dente]

BIDU breakout hi

[jarbo456]

morning update from the muni market...

"Selloff in muni trend from yesterday continuing today. . . belly getting hit the most. 10 bp move on the first read."

[BullTart]

Still holding 3X long S&P ETF UPRO.

That was a major bear trap that was set on the break down of the flag.

May add more to UPRO, but don't want to go all in just yet.

Let's see how the jobs number affects the rally tomorrow.

As Cobra said, 6 up out of 7 days is not crazy. And if this is a true wave 2 (or 4) rally, we could get a streak like that.

[uempel]

I'm looking at 1150 plus - I'll short that level, but I'm not religious about it. I'll place stoploss quite close.

[heavenskrow]

Still holding 3X long S&P ETF UPRO.

That was a major bear trap that was set on the break down of the flag.

May add more to UPRO, but don't want to go all in just yet.

Let's see how the jobs number affects the rally tomorrow.

As Cobra said, 6 up out of 7 days is not crazy. And if this is a true wave 2 (or 4) rally, we could get a streak like that.

Agree with 2 people now and leaning very bullish

-However instead of UPRO, im shorting bonds with TMV

[Al_Dente]

geeeeeez, speaking of fakeout
Internals just made a radical shift to bull…. We’ll see how top acts here
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =245336889

[BullBear52x]

always sell double tops. DT only

[Mr. BachNut]

1/2 short position still on. Stop not in play unless big rally. Planning to do nothing today.

[heavenskrow]

Relatively low risk, high reward trade

[uempel]

morning update from the muni market...

"Selloff in muni trend from yesterday continuing today. . . belly getting hit the most. 10 bp move on the first read."

Thanks!

[buyorsell]

Relatively low risk, high reward trade

Heavenskrow, many thanks to your posting on bond. It really helps me confirm my own analysis.
Cheers!

[ultramarine]

Hi, All, Yesterday afternoon, I posted a chart of the Russell and I dyslexically called it the 240 "hour" chart. It is not a 240 "hour" chart, it is a 240 "minute" (or 4-hour) chart. I apologize for this mistake. I am attaching it again. Looks like we should have a nice shorting opportunity very, very soon -- probably today. Here is the attachment again. I don't know how to upload it as an image. Sorry to those who don't have MS Word. Lastly, thanks again to whoever on this board that I learned about the 240 minute chart. It is very helpful to view!

It's pretty easy to upload an image. Even I can do it.

1) Save the image on your desktop
2) when you want to post it, click upload attachment just below the text reply box on left hand side. browse and add the image from your desktop and attach it.
3) then click "place inline" from lower right of the text box under Post Attachments.
4) add your comments above or below the image as you like.

Cool! Thanks so much, ultramarine, for taking the time to provide the details! As you said, "pretty easy". Thanks again!!

OK no worries. Hint: you can repost the chart if you like.

[seekingknowledge]

1/2 short position still on. Stop not in play unless big rally. Planning to do nothing today.

Totally agreed: "Planning to do nothing today". Watching to see if we break 667 (on strength) or not on the Russell.

[99er]

SPX
Update.
http://99ercharts.blogspot.com/2011/10/spx_6073.html

[Al_Dente]

always sell double tops. DT only

Psssssssssssst BB52x
Yesterday’s news: “dems want millionaire’s tax”
U may need to move offshore soon !

early morn sqz in AA ....but peters out in DIS HD CVX…….others still asleep…. but these moves are FAST this morn

[PhilM]

Heavenskrow: I have been in TMV since the SPX bottomed on Tuesday, and it has popped up nicely. TMV seems to parallel the market. Do you have any thoughts on whether this phenomenon will last?

[jarbo456]

i would guess some sort of pause, maybe retrace for a double top around here...

[EvilTrader]

many shorts still in denial ???

Mr market is merciless. I feel your pain....actually, i dont, but im sorry for you.

[uempel]

Europe Central Bank is hinting rate cuts and monetary intervention to help he banking system.

The message is clear : NO one will go bust, no matter what.

Thats why equities are off the lows.

Maybe the low of the year was already in, i think thats the case. And I have a beautiful $NYMO divergence to support my case.

Very true. We can also see a similar positive divergence setting up on the Bullish Percentage chart on the SPX.

Muni weakness, BPSPX divergence and short term momentum are bullish for SPX, but BPNYA and medium term momentum are neutral or bearish. Go figure

[heavenskrow]

Heavenskrow: I have been in TMV since the SPX bottomed on Tuesday, and it has popped up nicely. TMV seems to parallel the market. Do you have any thoughts on whether this phenomenon will last?

Lucky bastard!!! Great entry btw.
I think we may be in more of a longer trade then we think... Although we are doing something kind of dangerous(catching a falling knife under moving averages)..
This chart, has always caused a bond selloff each time it hit...., plus bearish divergences.