01/12/2012 Intraday Watering

[99er]

Updates

Copper http://99ercharts.blogspot.com/2012/01/copper_7506.html
Crude http://99ercharts.blogspot.com/2012/01/crude_6435.html

[stucap]

We are right at that green line?

yup. it's time for the bears to finish the deal and end this rally........or fail again:)

[grachu]

where is cobra ?

[bobo]

Monday is a holiday in the US. There was a small move in the McClellan Oscillator yesterday. There should/may be a large move in the market soon, like today and/or tomorrow.

Caveat emptor bulls!

Daily ellipse suggests a move tomorrow or Monday. I screwed up today (could of made 13 handles, instead I made 1 handle) and I'm tired now, bye guys.

cc.png

[waverider]

The original is 400 pages... I don't think there's anything he didn't cover in it.

[TWT]

SPX: Moment of truth for the impulsive w (3) of (C) option

[Cobra]

key support, you don't want to see a decisive breakout here.

[uempel]

Thanks bobo, I forgot MLK...

Monday is a holiday in the US. There was a small move in the McClellan Oscillator yesterday. There should/may be a large move in the market soon, like today and/or tomorrow.

Caveat emptor bulls!

Daily ellipse suggests a move tomorrow or Monday. I screwed up today (could of made 13 handles, instead I made 1 handle) and I'm tired now, bye guys.

cc.png

[TraderGirl]

Some interesting info about Bradley turn dates:

1. Sometimes have a 7-10 day window before and after:
Market turned July 23, 2011, 7 days from the July 29-30 major turn date
Market pulled back Jan 5th, 8 days after Dec 28th turn date
Market turned up on Dec 20th, 8 days before Dec 28th turn date

2. Sometimes it causes a turn in one or more indexes/markets:
Feb 17, 2011 Market had a major correction (and then recovered), but Semi's topped out on that date and Bonds bottomed at that time...
Dec 28, 2012 Silver and Gold both turned up on Dec 29th

Something to think about on the next big turn date of March 16, could have an affect around March 9th or March 23, and could mark a turn for a market other than SPX or INDU.... hmmmm.....

[taggard]

Pilot Short still on. He made it through yesterday's round, which was pretty much a draw.
He has come out swinging this morning, but we'll wait til the end of the day before drawing conclusions.
Me thinks there may be some buy stops above that have been left untouched (unless they were cleared by the pre-market highs). The jackals wouldn't want to leave those behind.
That said, it is nice to see the VIX show some life. I am imagining long traders taking profits into the long weekend.
Max Pain for OPEX next week has ticked up to SPY 126. Just a feeling, but I can imagine the index and Max Pain making a rondevous around 127 next week but who knows...

Still fishing for an intermediate top, but strong technicals have been getting in the way. The thesis for Pilot Short expired some time ago.
I am surprised he is still in play, but what I am really struck by is how great the technicals have looked and how little the indexes have done to the upside. Resistance is clearly tough up here.

nicely put. earnings and options exp thinking intc reaction sort of key (imo)--my stuff shows 30 day simple moving average over bot about 1-27-12. there is nothing magic about this one indicator but as a rule hard declines tend to happen after this thing is fully played out--short term next week not too good on both 10 (short term) and 30 (longer term) and jan options ex is often down. intc--they expect a miss--but they are taking it into earnings high (so far). after watching intc for 15-18 years or so i sort of like the reaction as a tell. if we go up the 23.6 area of the entire decline from 2000 could be interesting. your "sell into the weakend" idea sure makes sense to me--if so maybe later today or tomorrow small bounce as sellers burn off and all 5 shorts cover

good luck with your short--myself just bailed a short term short and still holding a longer term late jan into feb idea (everything various qqq options traded directionally)

[Al_Dente]

60 min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =252025865

[stucap]

Bear fail . Unfortunately, bears are lucky to get like 2 cracks at a support line (not 80 like the bulls at resistance).

Time for bull response. Let's see how many quick money shorts run for the hills. Looks like a big down day in the ES but we're only down 40bps. Easily could reverse and go green.

[SigmaEcho]

key support, you don't want to see a decisive breakout here.

shouldn't it be at least a two legged down? (normally)

[Cobra]

key support, you don't want to see a decisive breakout here.

shouldn't it be at least a two legged down? (normally)

I already give up 2 legged down call nowadays.

[tdo722]

key support, you don't want to see a decisive breakout here.

shouldn't it be at least a two legged down? (normally)

Nothing is guaranteed in the world's biggest casino.

[stucap]

key support, you don't want to see a decisive breakout here.

shouldn't it be at least a two legged down? (normally)

i think we might have two legs already....at least in the ES.

[lcgllc]

thanks to Cobra, i had a "come to Tebow" moment yesterday...greatly curtailing my nasty early bird habit....thank you Cobra....but the end of days is near, banks will lead, and then Euro zone will crush it all (insert Cobra's evil laugh)

[Al_Dente]

http://www.youtube.com/watch?v=2xB4dbdNSXY

http://www.youtube.com/watch?v=QCG3kJtQ ... re=related

PS here’s the mongoose (?) link to EU yields updated
http://graphics.thomsonreuters.com/F/09 ... PORT2.html#

[noob]

key support, you don't want to see a decisive breakout here.

shouldn't it be at least a two legged down? (normally)

I already give up 2 legged down call nowadays.

Consolidate here = continue down more likely?

[SB73]

Bear fail . Unfortunately, bears are lucky to get like 2 cracks at a support line (not 80 like the bulls at resistance).

Time for bull response. Let's see how many quick money shorts run for the hills. Looks like a big down day in the ES but we're only down 40bps. Easily could reverse and go green.

Definitely easier to be a bull. Opportunities to up stops exit positions etc lasts for days. Seems that bears get one chance.