10/07/2011 Intraday Watering

[StrikePrice]

GM,
Looks like we are going to play this channel for awhile.

Yes. Nice chart. I saw that this morning. Here's bigger look on /ES with Parallel line above as well.

[KENA]

Retail still up UTIL getting stronger the mkt may get greener,My small horns are growing.Lets see

[Cobra]

H2 on EMA20 and Double Bottom, unbelievable but maybe the morning low was in. the market will try higher price...

[stockcycle]

Seems bulls have been satisfy with 3.5 days rally + Today is Friday + Cobra analysis ... I think we'd better close all longs and wait for some pullback to re-enter long.

[L_T]

Sounds good. Thanks.

Someone mentioned yesterday that LULU was setting up as a possible short. What are the thoughts now that it looks to have started retracing back from (approximately) 50% from the 9/20 intraday high?

I said that.If you look at the dn channel line,LULU is right at the top and this is res.Will it break res.It can who knows.Right now LULU is dn this morn.Wait and see.

[Tabby]

Tabby

If we break north of the down channel (purple), as suggested by the Wolfe Wave (blue), we are going to the moon by the end of the month.

http://99ercharts.blogspot.com/2011/10/spx_5544.html

By then we will have the old boards prepared for the ride of a lifetime!

Howling wolf and surfing. what a combination!!!!!
You did mention wolfe waves are better predicator that EW once a upon time on Kenny's forum.

[jarbo456]

H2 on EMA20 and Double Bottom, unbelievable but maybe the morning low was in. the market will try higher price...

yeah...bulls are on the verge of winning this battle. might not even wait for my stops, think this may be a greener day...even with nasdaq lagging hugely. -_-

[heavenskrow]

Im going to take a risk today and not take my profits right now TMV..... going to leave for a few hours...so wont be be able to monitor the markets..... I hope i dont get fucked.

Heavenskrow:
TMV has had a nice little run. Do you think it is running out of gas?

I may be biased because I own TMV....
however
1. look at this 1 hourly chart, TLT broke support.
2. I mentioned few weeks ago that bonds met the diamond pattern and has since sold off http://heavenskrowinvestments.blogspot. ... lysis.html
3. Bonds always according to this chart, has sold off when it meets this resistance: http://heavenskrowinvestments.blogspot. ... mmmmm.html
4. The evil Index is showing a little more room to run before we should get fearful of a decline in stocks http://heavenskrowinvestments.blogspot. ... index.html

You add up all the things, and thats how I get my TMV trade (Remember I was long TMF the whole crash took profits very close to top and reversed my trade after a retest of the high)

[Al_Dente]

Internals summary:
Advancing /Declining stocks both weak (1400/1300), duking it out for dominance, ADVANCERS are pushing it as I post
Tick yo yo
Dollar/bonds bull
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =245336889

[jarbo456]

Internals summary:
Advancing /Declining stocks both weak (1400/1300), duking it out for dominance, ADVANCERS are pushing it as I post
Tick yo yo
Dollar/bonds bull
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =245336889

there's the magic! still undecided, so i'll hold my shorts...warily.

[heavenskrow]

Nevermind =p

[jarbo456]

..."Muni market still selling off, but not as much as yesterday... definitely a touch firmer...."

[Mr. BachNut]

Still short. Stops in range if another up day like yesterday. Gulp.
Looks like another up day would send McClellan Oscillator to overbought.
I think bulls should hope for a down day today (huh?!?). I think it would be constructive to set up for another leg up rather than push to extremes.
The big gorillas will pay attention to Tom DeMark's view (i.e. 4 strong updays in a row suggests short covering frenzy and low may not be in). I imagine they are patiently on the sidelines at the moment watching the action.
My intermediate term mechanical model is still on sell and doesn't look ready to turn, in spite of the price action. Maybe next week.
If I don't get stopped out, I'll be looking to close short and go neutral on a downdraft. All the churning signals are hindering clarity.

[stockcycle]

Seems bulls have been satisfy with 3.5 days rally + Today is Friday + Cobra analysis ... I think we'd better close all longs and wait for some pullback to re-enter long.

I remember Cobra TA "The rebound from an important bottom, usually lasts at least 7 days, up 6 out of 7 (so called 7 days rule)" so may be the Red-Day among 7 days woul be Monday or Today. Cobra: "the typical Non Farm Payroll intraday pattern is open high go lower or open low go higher."

[janez]

Im going to take a risk today and not take my profits right now
...
p and reversed my trade after a retest of the high)

Nice. I got TLT puts too. was thinking whether to sell it.

[heavenskrow]

Im going to take a risk today and not take my profits right now
...
p and reversed my trade after a retest of the high)

Nice. I got TLT puts too. was thinking whether to sell it.

keep, keep, i have a feeling u will make more $ than me....
teach me options now!!!

[ClarkW]

what's the payroll number? ten million jobs created?

103,000 jobs, expecting 65,000.

The VZ strike subtracted 45K jobs from last month and added them to this month.

That's a 90K swing. If you add the 45K to last month, and subtract it from this month, you have a WHOPPING 13K jobs this month. There is no reason to get excited about this jobs report, and I have already added to my shorts. I'm also taking some more miners off.

This morning strength will be sold.

still not bad, 13K jobs created, better than 13K lost.

Don't forget the previous two month #'s were revised up for whatever that's worth. July revised +42k, August revised +57k. As long as revisions are up market's happy

[99er]

Updates

Gold http://99ercharts.blogspot.com/2011/10/gold_07.html
Silver http://99ercharts.blogspot.com/2011/10/silver_07.html

[Al_Dente]

Internals summary:
Advancing /Declining stocks both weak (1400/1300), duking it out for dominance, ADVANCERS are pushing it as I post
Tick yo yo
Dollar/bonds bull
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =245336889

there's the magic! still undecided, so i'll hold my shorts...warily.

Magic/genius is DATA, hard and pure
Am watching 2 see if this is another bobble-head top
If breakout strong, am ready to cut/paste “fire alarm”….. not yet
Don’t give it back 2 em jar…. these “bulls” crazy people

[99er]

Updates

Crude http://99ercharts.blogspot.com/2011/10/crude_07.html
30-Year http://99ercharts.blogspot.com/2011/10/30y_07.html