02/08/2012 Intraday Watering

[Me XMan]

Looking to load up more shorts.

Added short position $135.20. stop-loss $136.

You have balls

[Cobra]

support area. I think the drop is due to oil inventory report.

[KeiZai]

Will dip buyers continue to show up today ?

[springheel_jack]

Looking to load up more shorts.

Added short position $135.20. stop-loss $136.

You have balls

Large and heavy looking balls. From the color those might be brass balls denoting great courage.

[Ratbastrd]

Very interesting divergence today between the VIX and TVIX.

The VIX is down 0.57% right now, but TVIX is UP 0.21%.

What does that mean?

That means that the contango with the VIX futures is being reduced.

I have not seen this behavior in a while now between these two. Options traders are beginning to move the VIX term structure up, increasing the short term slope to an even steeper angle.

That should be a sign that traders are beginning to bake in a future that is not super rosy and that could have some bumps along the way.

Could be one the of the first cautionary signs that something wicked is right around the corner here people. Take note and ignore at your peril.

Bulltart, spent some time researching TVIX yesterday. Turns out I was wrong, it tracks (2x) the VXX not VIX. Thus it is tracking the near term futures vs longer term and is accordingly caught in the contango trap as you first stated.

[quatzl]

Finally a scalp on the short side that went according to plan. On 5 min, IWM hit previous high, came down, and paused at recent triple top. ROI 13%

[Petsamo]

Will dip buyers continue to show up today ?

They've been showing up for the past 5 months

[SB73]

Cobra for all intensive purposes your target from last night was achieved. Great work. Close longs near target and back to cash.

missed 7 cents.

I'm not greedy...cashed it and waiting. Liquidity seems thin...bigger selloff may be around the corner.

[jimme]

It's snowing!

[BullTart]

Today, the morning dip buyers will get burned, and so shall start what will at least be a short term pullback.

Here is one of my 'looks'...

TVIX leading the way, TZA trailing.

AGQ leading the way down, SPY trailing. AGQ = hot money, so SPY should follow suit.

Expect a temp rebound here driven by hapless dip buyers, then a reverse and a short term panic exit to the doors by sketchy bull late comers.

[BullBear52x]

SONC fans http://bullbear52x.blogspot.com/

[EvilTrader]

Today, the morning dip buyers will get burned, and so shall start what will at least be a short term pullback.

Here is one of my 'looks'...

TVIX leading the way, TZA trailing.

AGQ leading the way down, SPY trailing. AGQ = hot money, so SPY should follow suit.

Expect a temp rebound here driven by hapless dip buyers, then a reverse and a short term panic exit to the doors by sketchy bull late comers.

Late buyers always end up in tears...

Now is time to be short or in cash.

Im a beliver in a greater correction...about 4% to reset the shit.

[jimme]

SONC fans http://bullbear52x.blogspot.com/

An event like this usually marks a market top.

[knurbs]

Cobra- Is it possible we're forming a right shoulder on the daily SPY?

[BullBear52x]

SONC fans http://bullbear52x.blogspot.com/

An event like this usually marks a market top.

I will keep shorting and be nimble until bears can take out 133 (SPY) if not a good swing set up will have to wait.

[KeiZai]

Will dip buyers continue to show up today ?

They've been showing up for the past 5 months

Yeah mate but will they try it on ultra-high risk day?

[TraderGirl]

Here is Daneric's wave count...

[springheel_jack]

Cobra- Is it possible we're forming a right shoulder on the daily SPY?

If you're talking about the large potential H&S on SPY with the October low as end of the head, it's losing symmetry badly now.

Within 3% of the top of the head it would generally be regarded as a double-top I think, though in practical terms the downside target would be similar.

Obviously we'd have to make it back or close to the October lows before either pattern would trigger.

[SWalsh]

"IF" EW is to work, then we just had what can only be a 4th wave, limiting triangle and wave 5 was the high and we have at least a short-term trend change. We shall see. I loaded the medium boat with a stop at the highs.

My reading glasses snapped and I had my eyes fixed to 20/15 a year ago. I'm going to post some HFT stuff I'm slowly working on. If you ask a question on it and I don't reply then I missed it so please PM me.

The HFT guy's "delineator" has turned positive. My oscillators are diverging. Wave wise, we should work lower. But in HFT/Algo world, they deal from the deck picking the spot they desire. Hence, the medium boat on a good EW signal.

[ccash04]

Ok this is more like now that Europe is closing we should rise/levitate up.