07/19/2011 Intraday Watering

[Cobra]

Huge gap up, right at yesterday's high plus most gaps (if not all) after a Major distribution day got filled the same day so I'm not sure if the gap will be filled or not. This is an unbelievable market, the trend seems down but we simply had 4 large gap up in the past 5 trading days. Global ES hits a trend line and it's the resistance area, not sure if it'll stop there or the resistance area is simply made of paper. We'll find out soon. The pure chart read feeling though, is it's still missing a revisit to the low (either higher low or lower low).

[99er]

Good Morning.

Honey...still thinking about Europe?
ES http://99ercharts.blogspot.com/2011/07/es_19.html
Yup...but there may be a surprise.

[agnosia]

morning cobra. the bull sacrificed a piece to fool the bears. buy the dip, any dip, has continued to work in this market.. best to go with the flow and suspend disbelief

1310 /es is strong resistance. if we break up and get an hourly close above i am going all in ..

[AK84]

Morning !! I plan on selling the bounce today. Lots of crazy converging moving averages above around 1312-1318 and im not risking it waiting to see it get over. id rather sell the bounce take my money and then go into the wait and see mode

**TRADE IDEAS & UPDATES **

AMZN- looks like a good run up to 218 is possible.....breaking out off bull flag in pre market. Target is 218 for the v short term.

SINA - still like it like I said yesterday and seems to be up $3 pre market today. Should go and test 129 .

AAPL - Not touching this with a 10 foot pole for ER. Look at that chart....v v v scary ......what goes up .........??? MUST COME DOWN! ive had a couple of calls expiring this Friday that have had a beautiful pop in volatility since Thursday and ill take my profits and close them today. I'd rather sell a call spread in AAPL to take advantage of the Vol Crush .

will update more ideas later.

GLTA!!!!

Cobbrraaaaaaaaaaaaaa!!!!

[99er]

A good or bad surprise?
EURUSD http://99ercharts.blogspot.com/2011/07/eurusd_19.html
Don't know yet; central bankers love surprises.

[amalgamator]

Hi all, my expectation:

[cougar]

DXY yesterday gave the early entry points for SPX...in the opposite direction

[BullBear52x]

GM,
Happy trading everyone.

[cougar]

DXY by night did the same thing for the futures being pushed up:

[cougar]

I’ll keep following closely the US$ today…

[agnosia]

DXY by night did the same thing for the futures being pushed up:

yep the market has gone back to it's *simpleton* correlations. dollar down/ futures+commodities up. copper made a new high - something to take note of... this bull is getting ready to run.

[99er]

Shall we ask Dr. Copper?
HG http://99ercharts.blogspot.com/2011/07/copper_19.html
Looks like down to me.

[BullBear52x]

Watch 131.6 level

[Cobra]

the open.

[MajorEasy]

this chart shows the big picture of ES trading about 24 hrs per day for the last 5 days.
10000 ticks equal 10,000 tickets, not contracts....

[99er]

What does our favorite couple say?
AUDJPY http://99ercharts.blogspot.com/2011/07/audjpy_19.html
No mojo.

[BullBear52x]

cashing out.

this is one last sell the rally for bears. in cash and ready to go evil.

[Cobra]

the first resistance, multiple fib there.

[BullBear52x]

how's that? no shares available on SSO to sell.

[KENA]

WE are above 1316 on SPX and that should be bullish. Transportation looks strong. Util looks weak. Lets see if the bulls can push thru 1324...1327/1330 may be high befor retest of yesterdays low.Wait and see.