02/06/2012 Intraday Watering

[SWalsh]

NEGATIVE SHIPPING RATES:

Continuing on the build-up of ships in port, this is from ZH (admittedly they usually have a negative spin) and discusses renting ships and they pay you $2,000 a day. It is similar in construction where a winning bid is under cost just to keep the machinery working:

http://www.zerohedge.com/news/shipping- ... o-negative
[entire article below]

Following the endless collapse in the Baltic Dry, it was only a matter of time before the shipping industry one-upped the Chairsatan, and was the first to introduce, dum dum dum, negative rates. That's right: you are now paid to hire a ship. Via Bloomberg:

* GLENCORE HIRES SHIP AT MINUS $2,000 A DAY, GMI SAYS
* GMI TO CONTRIBUTE $2,000 A DAY TO GLENCORE'S FUEL COSTS
* GLOBAL MARITIME'S U.K. MD STEVE RODLEY CONFIRMS DEAL BY PHONE

Why is this happening? Perhaps because ships have to be kept seaworthy and in motion or else they become scrappage in as little time as 3 months. Think sharks. Needless to say, this will play havoc with shipping company (and affiliated entities') liquidity, as the biggest default wave in the history of the industry is about to be unleashed and tens if not hundreds of billions of European secured loans are about to be "impaired."

[quatzl]

I am a far cry from uempel's ellipse charting, but I do see a SPY signal at 2pm. Maybe if uempel comes around he can confirm or deny.

[Me XMan]

Stop-loss got hit $134.35 and out.

[BullBear52x]

Bears pack up, your day is done. I am going for a walk.

[Me XMan]

Come back...don't leave all the cubs here

Bears pack up, your day is done. I am going for a walk.

[Cobra]

still could see as overshot. I'm neutral now. boring.

[fehro]

little bear flag? within a red bull flag?... unless blue channel breaks then green lower channel? or grey trendline target

[Me XMan]

Back to short position $134.40. Stop-loss $135.25

[usctrojan99]

Until we breach 1325 and 1300, don't fight the trend. We can still get down to 1280 and still be in a up trend.

[thanos]

All i've seen today was a successful test of previous resistance at 1338 which is now support. My previous level to exit my swing longs was 1305 now its is 1330. My momentum indicators went negative on Jan 30 but price didn't confirm and went back to positive on Feb 1st. Long and strong. I have no idea where the market is going it only tells me where it has been.

Good luck

[Cobra]

if no breakout here, then we'd see pullback before close. here's the evil plan for fun, as it's too boring.

[Wallstreetrader]

New year highs underway imo.

[99er]

SPX

The Hanging Man (daily), now backtesting a small neckline (30-minute), has lost its mojo and is about to drop.

http://www.99ercharts.com/

Skiing anyone?

[SB73]

Good grief this is brutally slow. Cobra do you have any thoughts on UNG or GAZ?

[Cobra]

Good grief this is brutally slow. Cobra do you have any thoughts on UNG or GAZ?

UNG has some hopes now, could be double bottom in the forming.

[fehro]

interesting.... if this candles holds... outside reversal? hammer?

[Al_Dente]

PAGING HI FINANCE
Remember my playing field: when in doubt I go w cobra
When not in doubt….u kno my drill….i try 2 go w the snake

And my stock/the mkt is NOT going to turn down until it actually does turn down (price)
Me trend follow u kno that
My language is unclear/vague? I appreciate yr feedback
Here’s my short sheet…all tell me “not yet” intraday
http://stockcharts.com/h-sc/ui?s=ZSL&p= ... =252310518

Here’s Alison Krauss while I wait… http://www.youtube.com/watch?v=WHHjDl2K ... re=related

[waverider]

Skiing sounds good to me, the heckler bulls need to be shaken out. $VIX is soo close to filling that gap, up almost 5%.

[soku]

sry. forgot to check size

in short, i have nothing to say, and i say it regularly.


http://www.motifake.com/image/demotivat ... 372215.jpg

[Wallstreetrader]

VIX reading could muck your trade careful.