03/16/2011 Intraday Watering

Post by **Cobra** » Wed Mar 16, 2011 9:01 am

Flat open, any gap will be filled and the day could be a range day so may have nothing to say.

Institutional buying and selling actions, no accumulation yesterday, interesting.

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99er · Post by **99er** » Wed Mar 16, 2011 9:05 am

Morning.

/ES update: http://99ercharts.blogspot.com/2011/03/es_16.html

Good luck.

cletus · Post by **cletus** » Wed Mar 16, 2011 9:14 am

Jim Rogers, a famous billionaire investor, was on Bloomberg saying he was wanting to buy the Nikkei, but he hasn't dipped in yet. That means the Nikkei selloff may not be over, hence, the US markets may still have more downside to go. That said, I will definitely look to unwind my short-term book of shorts on a dip today (anything I can quickly buy back if needed) and put in some stops on profitable long-term short positions. The turn date is this weekend, so if it's a low, the markets may still sell into the weekend. If they recover into the weekend, it might be a short-term top.

We are now entering the official full moon cycle, which is often the most bearish.

cletus · Post by **cletus** » Wed Mar 16, 2011 9:18 am

Housing data was abysmal but financials and reits are trading higher this morning. Odd. Not really that bearish yet.

Instigator928 · Post by **Instigator928** » Wed Mar 16, 2011 9:22 am

Oil service stocks seem to be waking up premarket...

KENA · Post by **KENA** » Wed Mar 16, 2011 9:26 am

FYI... Stocktiming this morning says ...All 3 indexes had Sell signals yesterday...Institutions were in distribution...Liquidity is still high which could off set the selling. Wait and see.

Post by **Cobra** » Wed Mar 16, 2011 9:31 am

The opening.

Post by **Cobra** » Wed Mar 16, 2011 9:33 am

cletus wrote:Housing data was abysmal but financials and reits are trading higher this morning. Odd. Not really that bearish yet.

Housing sector has been one of the strongest sector ever since the March 2009 rally, it has nothing to do with any data.

cletus · Post by **cletus** » Wed Mar 16, 2011 9:36 am

Real estate selling off more aggressively now, not a great sign for the morning trade at least. Financials are up on the day, that's not too bad.

stocksage · Post by **stocksage** » Wed Mar 16, 2011 9:40 am

aapl the tech leader the whole rally closed below its 50dma yesterday for the first time since August 2010

BullBear52x · Post by **BullBear52x** » Wed Mar 16, 2011 9:40 am

morning,

99er · Post by **99er** » Wed Mar 16, 2011 9:40 am

Nikkei Futures

The cost to Japan for this bounce? Y26.5 Trillion ($325 Billion): http://99ercharts.blogspot.com/2011/03/nikkei_16.html

Gotta love them central bankers.

stocksage · Post by **stocksage** » Wed Mar 16, 2011 9:42 am

ibm downgraded, goog down.

Post by **Cobra** » Wed Mar 16, 2011 9:42 am

some support here. I'm surprised (kidding) that we don't huge huge rally today like before.

Post by **Cobra** » Wed Mar 16, 2011 9:53 am

I see small double bottom and big double bottom here, so if I may guess the morning low was in - if we get another 5 min bull far as follow-through.

alf · Post by **alf** » Wed Mar 16, 2011 9:54 am

due to uncertainty about nuclear plant of Japan

tradersu · Post by **tradersu** » Wed Mar 16, 2011 10:00 am

Looks like she wants to go lower...

parker · Post by **parker** » Wed Mar 16, 2011 10:03 am

Cobra
What do you think about this chart
Maybe a big drop ahead?
http://stockcharts.com/h-sc/ui?s=$NYADV ... 2033346887

http://stockcharts.com/h-sc/ui?s=$NYADV ... 2033346887

jamesmith · Post by **jamesmith** » Wed Mar 16, 2011 10:04 am

H1 buy here?

BullBear52x · Post by **BullBear52x** » Wed Mar 16, 2011 10:06 am

watch this bear flag, went through it a little this morning,

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03/16/2011 Intraday Watering

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