03/01/2013 Live Update

[TraderGirl]

SLV double bottom and clear positive divergence. Ready to take off?

Not super confident, but took a low risk trade in SLV here.

1448 shares of SLV at 27.60 with a stop at 27.30

Break of 2/20 low of 27.35 should open the window to something lower.

There is a Merriman reversal and big range day on 4/5th next week...so if that means reversal from a low, then you may be fine...

[Out of Bounds]

Al, what do internals look like today...this bounce looks like it has legs....

Bounce had legs boys....

TraderGirl,

I agree with the comments that you made the other day about being hard to trade this due to the strong swings.

Strong swings because of Mercury retrograde...but they are good for making money...if you are on the right side of the trade...but even if not, the market can reverse course to put you back in the money....

Just take any position near the middle.
Put in limit orders to sell at your target.
Go have cocktails.
Profit!

[Harapa]

VIXies update posted here
http://www.cobrasmarketview.com/2013/03 ... ay-update/

[jarbo456]

SLV double bottom and clear positive divergence. Ready to take off?

Not super confident, but took a low risk trade in SLV here.

1448 shares of SLV at 27.60 with a stop at 27.30

Break of 2/20 low of 27.35 should open the window to something lower.

There is a Merriman reversal and big range day on 4/5th next week...so if that means reversal from a low, then you may be fine...

Yeah, i'm just looking for a short term reversal within the bullish wedge that's formed to maybe 29'ish. But thanks for the reversal info.

30 cent risk for 4-5x's profit. So I took it.

[taggard]

for the last week or two the put call stuff has been interesting--

today we have 1.35 and 1.26 for the first two readings--and a huge spike up in stocks. what i get is just "not that much real selling" and bodies of shorts causing spikes up. some money as usual (in theory more than usual) is coming in for 401k etc. and this combination is holding things up. this condition will change between now and tax day. the issue is where are we when this happens?

as for the sequester--i have seen this stuff done to death in the media. what seems to be the case is the more there is uncertainty the more people assume central banks will act. somebody noted that 85 billion this year is one month of fed bond buying--which was my "rational take" on it. but i think it's more the problem is anything--that justifies the current state of affairs is the focus. i realize i am saying this too often--but it is the "confluence of opinion" that is the issue. count the number of times on the board and everywhere else you look somebody said something to the effect that the fed is pushing the markets up. it sounds great very logical. just like the first gold move and aapl also and housing and . . .

[TraderGirl]

Al, what do internals look like today...this bounce looks like it has legs....

Bounce had legs boys....

TraderGirl,

I agree with the comments that you made the other day about being hard to trade this due to the strong swings.

Strong swings because of Mercury retrograde...but they are good for making money...if you are on the right side of the trade...but even if not, the market can reverse course to put you back in the money....

I guess I'm on the wrong side; hopefully, we will swing back down so I can get out!

I'm expecting some kind of low around Mar 11/12th...so hopefully lower than here...

[Cobra]

this rebound has legs, forget about my wild-est-est-est guess earlier.

[Al_Dente]

Ok then, not much power behind the curtain, but can’t fight a sqz, FOR NOW

higher prices.png (126.46 KiB) Viewed 4324 times

[TraderGirl]

Andrew Mason should be ousted from Groupon, he was a dummy for not selling the company to Google for $6 billion when he had the offer on the table...what a dummy!!!

[doji]

My guess SLV might go a bit lower than here, as you can see SLW is leading to the lower low intraday, SLW is normally leading the SLV ...

[Mr. BachNut]

Bulls want to complete this IH&S. Seems they are in a hurry too.

[Cobra]

members only update at 11:08 am
http://www.cobrasmarketview.com/2013/03 ... ay-update/

[Al_Dente]

Bulls want to complete this IH&S. Seems they are in a hurry too.

good eye thx boss

[joegamma]

boy, bears need to be quick to make any dollars...as for fed buying pomo, its a bit smallish today$ 1bln here or there...

this seems like a good spot to short scalp ONLY, tight stop, to begin a trend day down after europe close..GLTA

[TraderGirl]

My guess SLV might go a bit lower than here, as you can see SLW is leading to the lower low intraday, SLW is normally leading the SLV ...

This actually looks like an ending wave count in SLW...lower low on pos d...so bounce is very possible here...

especially when Merriman's turns are based on reversing from a high or low...so this SLW is looking like it's reversing off of a low given that there have been 5 waves down for (C)....

[joegamma]

here is 15 min XLF, seems to run out of steam here?....

for the bold (or foolish?), mid BB on 30 min spy....with spyvix ratio momentums... with tight stop towards 15210/25 area?

[joegamma]

TGirl: when does the retrograde volatility taper off?
Every time I see something, cannot even act on it before it reversess
thx in advance

[doji]

My guess SLV might go a bit lower than here, as you can see SLW is leading to the lower low intraday, SLW is normally leading the SLV ...

This actually looks like an ending wave count in SLW...lower low on pos d...so bounce is very possible here...

especially when Merriman's turns are based on reversing from a high or low...so this SLW is looking like it's reversing off of a low given that there have been 5 waves down for (C)....

Love it, TG..

My fingers ichy, only not comfortable with there is no relative low point to take as a stop for SLW if long it, I'd better wait for a reversal up and then back test with higher low or double bottom..

Precious metals are the hardest to trade at the moment...

[TraderGirl]

TGirl: when does the retrograde volatility taper off?
Every time I see something, cannot even act on it before it reversess
thx in advance

Mercury goes direct March 17th...but I think we may see lots of volatility going forward....we are going through a topping process right now...

[Mr. BachNut]

Cognitive dissonance: The feeling of discomfort when simultaneously holding two or more conflicting cognitions.

I see price go up while my technical indicators go down.