11/03/2011 Intraday Watering

[99er]

Back at the ranch...

http://www.zerohedge.com/sites/default/ ... _JEF_0.png

http://www.zerohedge.com/news/jefferies-17-all

[Almo99]

where do you think the target is for this rebound?

[waverider]

where do you think the target is for this rebound?

My best guess is the 126 are spy, perhaps HOD.

[Dow Trader]

where do you think the target is for this rebound?

As long as ES above today's low, target is 1280

[BullBear52x]

where do you think the target is for this rebound?

right now is, yesterday's HOD

[Al_Dente]

word is jefferies has a halt-trading .

no shorts available at Scott

THANK YOU… THAT IS VERY VALUABLE “NEWS”
If any other shorts on board (especially single stock shorts) ever get one of those “HTB” hard to borrow, or other notices (meaning there aren’t enough folks long left to borrow from, as everybody is already short/loaned out to the max), that would be a WONDERFUL thing to post right here on this board.

Here’s a classic you might enjoy later; a tale of how deep the “Old Boy’s Club” runs on Wall St.
“True” story: Back in October 1987, when some “specialists” and “market makers” were near insolvent, a silent benefactor bailed out a well known specialist on the NYSE floor. After the dust settled, the specialist asked this fellow why he had helped, as he barely even knew the guy, and the drop-dead-serious answer was….. paraphrased: “Back in 1929, your grandfather bailed out my gramps…. and gramps told dad, and dad told me that if I ever had the opportunity to help you out…. I must do so….. I was only repaying a debt incurred long ago…and now we are even…. and good luck to you…”

It’s almost comical to look at the long term charts and see 1987 as such a tiny blip….. at the time it was sheer Armageddon. In one single day, we gave up on limit orders, all orders entered “at the market”; we received “wire” and phone delayed replies: “THERE IS NO MARKET.”

[Mr. BachNut]

Still Net Long.
Right now I can argue bull and bear. So, I guess two way market but basically unsure.
This mornings open up clarifies a right shoulder to a potential head and shoulder pattern of last 10 days.
Getting ready to slap hedges back on if deterioration gets severe but would prefer to do nothing.

[CMT]

word is jefferies has a halt-trading .

no shorts available at Scott

THANK YOU… THAT IS VERY VALUABLE “NEWS”
If any other shorts on board (especially single stock shorts) ever get one of those “HTB” hard to borrow, or other notices (meaning there aren’t enough folks long left to borrow from, as everybody is already short/loaned out to the max), that would be a WONDERFUL thing to post right here on this board.

Here’s a classic you might enjoy later; a tale of how deep the “Old Boy’s Club” runs on Wall St.
“True” story: Back in October 1987, when some “specialists” and “market makers” were near insolvent, a silent benefactor bailed out a well known specialist on the NYSE floor. After the dust settled, the specialist asked this fellow why he had helped, as he barely even knew the guy, and the drop-dead-serious answer was….. paraphrased: “Back in 1929, your grandfather bailed out my gramps…. and gramps told dad, and dad told me that if I ever had the opportunity to help you out…. I must do so….. I was only repaying a debt incurred long ago…and now we are even…. and good luck to you…”

It’s almost comical to look at the long term charts and see 1987 as such a tiny blip….. at the time it was sheer Armageddon. In one single day, we gave up on limit orders, all orders entered “at the market”; we received “wire” and phone delayed replies: “THERE IS NO MARKET.”

Shares are available at TD after a review

[Al_Dente]

Note:
Advancing stocks ~1600
Declining stocks ~1100
Here’s what that looks like across five days:
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =245360380

[flight23]

Greece PM to resign. Ref to be cancelled.

Rumor from over an hour ago. Spokesman came out and said not resigning. Use Twitter for up to date news, not news sites.

you sent out a twitter reccs for news the other day. what were they again? thanks.

@zerohedge @djfxtrader @breakingnews @omfmarkets @globalcollapse (last one is me but I mainly just retweet others, and not necessarily 24-7 like most of them).

[Petsamo]

UNG got spanked at the time of the natural gas report. Now it's back up to where it was, and then some ...

[rhight]

where do you think the target is for this rebound?

I'm looking at the 1254 area as the first tell (we may have already been rejected from that zone, but another try may yet occur. I think it is reasonable to consider that the intermediate uptrend (4 week) during October has ended, and an intermediate downtrend will ensue. I'm always opened to being surprised, and often am, so don't take that as gospel.

What we could be seeing this morning is the c wave of an abc correction comprising wave 2 (bearish) or B (eventually bullish). No way for me to tell now, just trying to trade the swings. This fib study shows an overlap in the 1252 - 1254 range.

[fehro]

...could be setting up for a fast move down... IF it plays out ...SPX 1minute.. 1235ish seems key

[flight23]

We may not follow conventional 2-3 leg down here even though the first leg was so powerful... reason is I think there was a mini panic related to Jefferies which seems to have subsided with the Jefferies statement release. Market should have been up today because of the rate cut, the drop seems to have been reaction to the debt downgrade of Jefferies.

[BullBear52x]

UNG got spanked at the time of the natural gas report. Now it's back up to where it was, and then some ...

Tell me about it. I got trapped on the last lot at 8.88, only 250 shares, I will gradually add 250 share each time during this basing but no more than 1000 shares until 10+. just be quick on profit until we head back up to 10.

[waverider]

uh-oh, almost shorted thinking yhod and below vwap was sell... Glad I didn't yet lol.

[KENA]

IMHO..Why I think the mkt may now go to test the recent highs..So far from the end of Oct into NOV both the Comp and SPX have been stopped 3 times at the 20 day ave so now lets see.

[BullBear52x]

Wow! a trade above 124.4 is different game now bears.

Here is intraday yellow area resistance trading above that is screaming BUY.

[SB73]

Wow! a trade above 124.4 is different game now bears.

spy.JPG

Here is intraday yellow area resistance trading above that is screaming BUY.

spy.JPG

Totally stopped out on everything small gains today.

[rhight]

One thing to note about intermediate wave 2's this past year. I've noticed that they quite often get near the 78.6% or 76.4% retrace, (take your pick.) This has the effect of encouraging the bulls, setting up a trap, in addition to flushing weak shorts out of their positions. You can't win for losing with such strong rebounds, makes it difficult to catch an intermediate trend in the beginning. If this is a wave 2 up, then that retrace level is currently about 1276.