Stock Market Intraday Chat: May 7 - May 11 - Page 14

Next level i am watching where we could see some kind of bounce is the 1342 on the ES mini..In cash waiting for a flush to go long or a rally to go short,,

Wow, France's CAC is really sucking today, down 3.25%. Clearly no pun intended.

 

I'm not feeling quite so smug today.. doh !

 

MPR       seems I have some Karma I don't deserve ...... sorry about that. 

 

The reality of the now much more fragile cohesion of Europe is seems to be gradually permeating through the algos...  President Hollande..... he says *Non* to austerity.....  and with it *Non* to reality.

 

I adore Cramer but at the same time (for the first time) have a different view... If your neighbours house is burning down you should at least expect a few foot prints on your lawn from the fireman doing there best to quell the flames..

Here we go,. 1344 for bounce attempt.

AW BOO! 1348ish holding.

 

maybe I should grab my CAT calls now.

Whoops, just noticed ES fired off one of my 5 min buy signals, decent for longs over 1345 with stop under today's low, but it's quite risky here. Not sure what to do with it, so patience for now. Bonds look like they might have just exhausted themselves.

 

So shall it be.

Where you at with this market Stevie? It has to be doing something really close to exactly what you thought it would, given your chart and thoughts posted in weekly voting thread for this week. What do you think comes first, 1370 or 1315? Do we get a significant attempt to end this move down before (ok, "if") it continues?

I pray for the souls of anyone who ever acts on my info.

Perhaps stating the obvious... I predict today is a down day on the markets... remember where you heard it first..

 

I'm still short but mind you I'm still pretty new and I don't day trade because I have a day job.

 

I did expect a test here though I am still hoping it fails.

 

I think ther will be lots of headwinds in the news and I'm looking to 1275 believe it or not... but one test at a time.

 

Your horribly bearish opinions are most welcomed here.

 

However, I dont see 1275 just yet, I say we get some rally action by tomorrow.

Believe it or not I have you marked down for 1275, based on that other post. I like your method, nice and simple.

I do like us for a continuation of this bounce, earlier thought it would flame out in low 1360s, but with the depth of the morning selling, 1354-1356 looks more realistic for a likely rollover. 1350.75 first hour low will also be a good target for bears. But if this low holds, it will be above the 100 SMA on SPY, cash S&P, and we will have a higher low (above Sunday's overnight low in futures), and healthy markets should hold the 100, so we may just be creating a more robust litmus test of a range for this market.

Yup, this was the play.  Overhead supply heavy @ S3 (1349 ES)... Took a small scalp from 46.50.

SJE you permabulltard you!

I missed the bounce, so the punishment is gonna step out for a long lunch to stay out of trouble and see if they start chopping this up. Saw a tweet on StockTwits this morning claiming that selling patterns like this usually make a low around 11, then chop rest of day. This was at about 10-10:15, so his tweet was largely an accurate forecast so far. SPY volume is heavy enough that I don't trust a bounce, we should hit 200 MM shares again today (quick count that might only be the 3rd time this year??) and it seems prudent to give the death chop forecast the benefit of the doubt when things are so muddled at this level.

Hello 1350 bounce.. and Rando was doubting his signal.. tsk tsk

I want to point out one thing that I think is complete Bull S***. Last night on CNBC cramer was bashing Buffet for how Buffet talked down gold all weekend, and made the remark about gold's performance compared to Berkshire. I just want him to know how lame I think he is for commenting at the time he did and how he did when he KNEW gold was going to spill today. Why do that cramer? Huh?? Same old sneaky pumper. Nothing has changed, but he lost any merit I think I had for him due to the fact that he talked up gold last night. It's absurd because he knows exactly what the market is going to do on any given day because our government is such a "PoS." The only way I could regain any regards for Cramer would be for him to apologize tonight. I have no respect for that BS.

 

My only comment is: U MAD BRO?

 

Cramer is as human as the next person, getting angry at him for being bullish is like getting angry at your dog when he gets excited that you came home after work.

I missed the GOOG spike a few minutes ago and my auto sell on my options didn't fill by about 20 cents. I'm expecting more chop now so the next wave up will bring it higher than the last spike which sent it to almost $607.

Ok buddy, you win here, even though the time frame I gave for that kind of a price gain was 1 year and 100% to 300% gain in the near term translates only into $6 to $8 price per share.

You said as if I said it is going to $30 in the next week or so (in the context of my prediction for 25% to 50% gain for vix in a single day). If you read 2 posts down from the post I mentioned "even the possibility of $20-$50 in a year", I said I am expecting it to touch 2.5 in the coming days.

 

So, clearly my expectations for PWAV at that time was around 2.5 to 3.5 not $30.

 

Either way, I did not mean to be nasty to Johndoe and I was trying to help him with all the info yesterday. I apologize for coming out as mean.