02/01/2012 Intraday Watering

[stucap]

I think it's turning right here. /ES is against the wall. I'm getting my skis on. GLTA jimme

i don't see any turn coming. am i going long? no. but i'm not shorting this here.

[Cobra]

head fake, no good for bulls. let's see if bears can breakout the rectangle on the downside.

[ClarkW]

I couldn't come up with anything either unfortunately. Hpping he'll continue to post the chart.

Interesting article on why Iron Ore is a better indicator than Baltic Dry Index by Pragmatic Capitalism
http://pragcap.com/iron-ore-is-a-better ... -dry-index

Clarkw GREAT link thx. What symbol can we use for iron ore??? (baltic sucks) best I can find is just steel only, $DJUSST ? or SLX ?

[SB73]

I think it's turning right here. /ES is against the wall. I'm getting my skis on. GLTA jimme

i don't see any turn coming. am i going long? no. but i'm not shorting this here.

ditto..killed offsetting short this morning and sitting on long core. Will not add as the setup is not really great.

[Al_Dente]

I couldn't come up with anything either unfortunately. Hpping he'll continue to post the chart.

Interesting article on why Iron Ore is a better indicator than Baltic Dry Index by Pragmatic Capitalism
http://pragcap.com/iron-ore-is-a-better ... -dry-index

Clarkw GREAT link thx. What symbol can we use for iron ore??? (baltic sucks) best I can find is just steel only, $DJUSST ? or SLX ?

please post any updates
this is not the first time baltic went bonkers.....
THANKS

[DRL]

I couldn't come up with anything either unfortunately. Hpping he'll continue to post the chart.

Interesting article on why Iron Ore is a better indicator than Baltic Dry Index by Pragmatic Capitalism
http://pragcap.com/iron-ore-is-a-better ... -dry-index

Clarkw GREAT link thx. What symbol can we use for iron ore??? (baltic sucks) best I can find is just steel only, $DJUSST ? or SLX ?

please post any updates
this is not the first time baltic went bonkers.....
THANKS

The chart in PragCap is USD/Metric Tonne.
Freestock charts has MG131 which seems to correlate to the chart

[Cobra]

hmm, still is rectangle and now bulls have the ball. well, let's wait. I'll shut up until the real breakout.

[johnnywa]

Greece deal hours away,sell the news??

[Al_Dente]

BAC is best in dow today up +3.5% (!)
Here is Comtex kool-aid on WHY... http://screencast.com/t/OEED1A6ZTbWQ

PS: thanks DRL
I usually watch baltic w china, MG131 much better w china (fxi)… more study tonite…

[lcgllc]

utterly bizarre 5min ES action, ascending triangle out of time here

[Cobra]

info only. it's 100% Measured Move, so a potential pivot point here, maybe that's why the market consolidates here.

[TWT]

EURUSD: I believe that the wave (B) is till in progress maybe within a Flat corrective pattern

[Cobra]

finally the breakout. target met, and we have a new target.

[soku]

rumor says ism beat. i guess es is going to take 1323.5 pivot

cannot believe market is so slow. cannot believe the market is so strong.
i guess it is going to try a little bit higher. the rec breakout rule says 1330. as long as it does not take out the previous high, i will still call it a topping pattern and my downside target is still at 1308-9

[Cobra]

another way of calculating target.

[jimme]

info only. it's 100% Measured Move, so a potential pivot point here, maybe that's why the market consolidates here.

It looks like a bear flag to me... finally. glta jimme

[TraderGirl]

If we can't make a new high today, can't see why we can't do what we have done in the last several months....

[lcgllc]

5min SPY goes from ascending bullish triange to bearish rising wedge, something for evryone today

[jessyjamz]

either Greece news is a pop catalyst or a sell the news!! coming soon

[stucap]

If we can't make a new high today, can't see why we can't do what we have done in the last several months....

if we can't make a new high we try and try again and again and again and again. that's the bully way!