01/26/2012 Intraday Watering

[SWalsh]

I figure that rocket trajectory was due shorts covering.
Once shorts are done covering then what ??? Hello gravity...

Of the few wall street sayings, "eat like bird, shit like elephant" is one that is quite true.

Maybe there's a "Flock of Seagulls" channel on iTunes!

Thanks

[L_T]

Jarbo you mind sharing how you constructed your strangle position of CRR? I'm curious. Thanks.

CRR looked to be in a large triangle. there were high expectations for the earnings - lots of bullish equity research on it. previous earnings had made the stock jump in excess of 15%. vega in the market has been low as indicated with VIX below 20. my initial idea was to go long via a covered call - but historically CRR has made monster moves on earnings, so a covered call strategy seemed like a poor idea given it could drop in excess of 20 bucks (which it did).

so i went long a strangle of 10 FEB 130/135 yesterday afternoon. cost base was about 13k. the construction of the strangle was slightly to the downside as it was trading at 133 at the time.

Good info. Thanks.

[BullTart]

Still watching the PosD on the VIX... we are just about to touch the ascending line on the RSI, so key time is approaching here.

If we make a lower low on the VIX, and at the same time break through the ascending RSI and also make a lower low on the RSI, then it will be time to close positions and wait for a better setup.

IMO, we will bounce of the RSI ascending line and keep the PosD intact, and continue to build even more energy for the eventual resolution.

We have now just touched the ascending RSI line now.

This is could be the it RIGHT HERE folks! Let's see!!!

We got a lower low on the VIX but a higher low on the RSI... PosD confirmed and continues. This PosD energy build up is really packing some heat now.

We may have just seen the short term top... three touches on the RSI on a PosD ascending line typically is the last touch before resolution.

So that's why I think we may have just seen the short term top earlier this morning.

If this PosD plays out as I think it will, VIX should pop into the 25-30 range when resolution is over.

3 "attempted touches" on a PosD ascending daily VIX RSI is one of those setups. Keeping that one in my notes for future reference.

[jarbo456]

8 red candles on 5 minute SPY. wasn't there some Cobra rule about how many red candles could consecutively go together?

[SigmaEcho]

first hour dip gets bought again?

[Al_Dente]

Italy
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15


Mambo Italiano…http://www.youtube.com/watch?v=jAQQ1Vlk ... creen&NR=1

[SB73]

don't forget ChiOsc.

Can you imagine teh beatdown the bears would have taken on a gap if the metrics were inverse. Small counter trade opened for gap fade.

Already closed POS counter trade position at BE. Bulls still too strong.

Instincts were right, but I don't pack the cahones like the squirrel MeXMan has.

[TWT]

ES Glob. The Ending Diagonal could be completed. Better if below 1315

[Al_Dente]

PAGING TRADERGIRL, cyclegirl….
according to the simple auto-draw cycle tools on stockcharts.com, keyed from the October low, SPX topped a coupla days ago...
rrrrrrrr, perhaps I drew them wrong? perhaps SPY is ignoring its cycles? perhaps what do u think?
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

[Cobra]

some support here. let's see. Bears have to wait until one day the morning dip isn't being bought.

[Cobra]

ChiOsc still high.

[bushwaffle]

keep the good info coming guys...keep the momentum up!

board momentum that is, lol! Keep the price momentum down.

[EFA]

some support here. let's see. Bears have to wait until one day the morning dip isn't being bought.

Cobra, do you think that day will ever come? How soon? I cannot wait!
Thanks for your work and do not loose your heart...
E.

[Cobra]

some support here. let's see. Bears have to wait until one day the morning dip isn't being bought.

Cobra, do you think that day will ever come? How soon? I cannot wait!
Thanks for your work and do not loose your heart...
E.

it sure will come.

[soku]

me run as quick as i can. me got bulled for too long.
the divg is still there. will short next pop

[cougar]

Jarbo you mind sharing how you constructed your strangle position of CRR? I'm curious. Thanks.

CRR looked to be in a large triangle. there were high expectations for the earnings - lots of bullish equity research on it. previous earnings had made the stock jump in excess of 15%. vega in the market has been low as indicated with VIX below 20. my initial idea was to go long via a covered call - but historically CRR has made monster moves on earnings, so a covered call strategy seemed like a poor idea given it could drop in excess of 20 bucks (which it did).

so i went long a strangle of 10 FEB 130/135 yesterday afternoon. cost base was about 13k. the construction of the strangle was slightly to the downside as it was trading at 133 at the time.

Nice! My CRR trade is still going on…I’ll tell you tomorrow more! Don’t want to jinx it!

[uempel]

Update:

[mixedice9090]

i guess it was time...tvix and tza...i'm in!

[BullBear52x]

She is heading to 5 dma whick sits at 131.38

[SigmaEcho]

SPX 2009 low times 2 = today high. turn around?