Back to www.cobrasmarketview.com

04/21/2011 Intraday Watering

Post Reply
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

04/21/2011 Intraday Watering

Post by Cobra »

Gap up above yesterday's high, so chances are good that the gap won't be filled. My experiences however, if you trade OR breakout today, chances are good it'd fail, let's see. The rally yesterday was triggered by INTC but unfortunately, if history still repeats (although Helicopter is trying to make the history), then usually the following week is not good with the Oct 2010 is the only exception. Well, whatever, no need to fight the trend so we'll have to wait and see as there's difference between "knowing the path and walking the path". :mrgreen:
1.png


I don't see much institutional actions here but guess it may take sometime.
2.png
3.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
99er
Posts: 3686
Joined: Mon Feb 14, 2011 3:43 pm
Contact:

Re: 04/21/2011 Intraday Watering

Post by 99er »

Morning.
ES update: http://99ercharts.blogspot.com/2011/04/es_21.html
Looks like a make or break day. Good luck.
User avatar
Me XMan
Posts: 2014
Joined: Thu Feb 17, 2011 12:01 pm

Re: 04/21/2011 Intraday Watering

Post by Me XMan »

Shorted SPY.
User avatar
Roadrunner
Posts: 85
Joined: Wed Feb 23, 2011 5:04 pm

Re: 04/21/2011 Intraday Watering

Post by Roadrunner »

GM Cobra - sun is out, getting warmer, perfect day to start a long weekend. Thanks for your insight in advance and good luck to all today.
cletus
Posts: 1445
Joined: Wed Feb 16, 2011 10:45 am

Re: 04/21/2011 Intraday Watering

Post by cletus »

This is a ramp job orchestrated by MMs to get to some stops at the new highs on the S&P and shake out the last bear around the light holiday volume. It's classic and transparent.
mylock
Posts: 19
Joined: Fri Mar 25, 2011 1:32 pm

Re: 04/21/2011 Intraday Watering

Post by mylock »

Cobra any info on back to back gap ups and how quickly the last one closes. Really appreciate all you do for this blog. Thanks.
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 04/21/2011 Intraday Watering

Post by Cobra »

mylock wrote:Cobra any info on back to back gap ups and how quickly the last one closes. Really appreciate all you do for this blog. Thanks.
No edges.

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
AK84
Posts: 574
Joined: Tue Feb 15, 2011 5:09 am

Re: 04/21/2011 Intraday Watering

Post by AK84 »

Cobra wrote:
mylock wrote:Cobra any info on back to back gap ups and how quickly the last one closes. Really appreciate all you do for this blog. Thanks.
No edges.
http://slopeofhope.com/2011/04/another- ... _west.html
mylock
Posts: 19
Joined: Fri Mar 25, 2011 1:32 pm

Re: 04/21/2011 Intraday Watering

Post by mylock »

AK84 wrote:
Cobra wrote:
mylock wrote:Cobra any info on back to back gap ups and how quickly the last one closes. Really appreciate all you do for this blog. Thanks.
No edges.
http://slopeofhope.com/2011/04/another- ... _west.html
Cobra and AK thank you very much.
FJoe
Posts: 78
Joined: Fri Mar 11, 2011 10:40 am

Re: 04/21/2011 Intraday Watering

Post by FJoe »

Totally agree with Cletus, and I am sure the gap today will get filled either today or early next week.

It is extremely rare to find 2 gap up days in a row where at least the 2nd gap isn't filled either on the 2nd gap up day, or a couple of days later...but after that, we should go much higher...but have to see how it plays out.
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 04/21/2011 Intraday Watering

Post by Cobra »

the open.
Attachments
1.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
stocksage
Posts: 134
Joined: Thu Mar 10, 2011 11:01 am

Re: 04/21/2011 Intraday Watering

Post by stocksage »

FJoe wrote:Totally agree with Cletus, and I am sure the gap today will get filled either today or early next week.

It is extremely rare to find 2 gap up days in a row where at least the 2nd gap isn't filled either on the 2nd gap up day, or a couple of days later...but after that, we should go much higher...but have to see how it plays out.
Sure will get filled eventually, but as far as agreeing with Cletus the bear thats definitely another subject. 2 years and counting of losses for the da Bears. :P :P
User avatar
99er
Posts: 3686
Joined: Mon Feb 14, 2011 3:43 pm
Contact:

Re: 04/21/2011 Intraday Watering

Post by 99er »

cletus
Posts: 1445
Joined: Wed Feb 16, 2011 10:45 am

Re: 04/21/2011 Intraday Watering

Post by cletus »

IYR reversal at new highs. Watch a back test, but this doesn't look particularly good for bulls. IYR has been leading everything higher the past few days.
Attachments
sc.png
cletus
Posts: 1445
Joined: Wed Feb 16, 2011 10:45 am

Re: 04/21/2011 Intraday Watering

Post by cletus »

stocksage wrote:
FJoe wrote:Totally agree with Cletus, and I am sure the gap today will get filled either today or early next week.

It is extremely rare to find 2 gap up days in a row where at least the 2nd gap isn't filled either on the 2nd gap up day, or a couple of days later...but after that, we should go much higher...but have to see how it plays out.
Sure will get filled eventually, but as far as agreeing with Cletus the bear thats definitely another subject. 2 years and counting of losses for the da Bears. :P :P
That was brilliant. "Bears keep losing therefore they will keep losing." That is some really in depth analysis. It could be right but it doesn't show much thought.
cletus
Posts: 1445
Joined: Wed Feb 16, 2011 10:45 am

Re: 04/21/2011 Intraday Watering

Post by cletus »

Descending trendline has not yet been breached.
Attachments
sc.png
User avatar
99er
Posts: 3686
Joined: Mon Feb 14, 2011 3:43 pm
Contact:

Re: 04/21/2011 Intraday Watering

Post by 99er »

Crude
Bearish Butterfly Pattern playing out.
1) Last night's set-up: http://99ercharts.blogspot.com/2011/04/crude_9535.html
2) This morning's price action: http://99ercharts.blogspot.com/2011/04/crude_21.html
StrikePrice
Posts: 770
Joined: Wed Mar 30, 2011 1:27 pm

Re: 04/21/2011 Intraday Watering

Post by StrikePrice »

GM.

You could make the argument that the VIX is in a bottoming pattern but it still has more time to play out so new highs are looking likely.
Attachments
VIX.png
User avatar
KENA
Posts: 2996
Joined: Tue Feb 15, 2011 1:54 pm

Re: 04/21/2011 Intraday Watering

Post by KENA »

The NYSI did turn up yesterday but still has room to go down short term. We will have to wait and see if this is just a small up blip or do we continue up.This has happened befor and then turned and finished its cycle.
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 04/21/2011 Intraday Watering

Post by Cobra »

stocksage wrote:
FJoe wrote:Totally agree with Cletus, and I am sure the gap today will get filled either today or early next week.

It is extremely rare to find 2 gap up days in a row where at least the 2nd gap isn't filled either on the 2nd gap up day, or a couple of days later...but after that, we should go much higher...but have to see how it plays out.
Sure will get filled eventually, but as far as agreeing with Cletus the bear thats definitely another subject. 2 years and counting of losses for the da Bears. :P :P
From my experiences, if bears are mocked by bulls constantly then the top is very close. This kind of rule worked many many times in my Chinese board because it somehow shows complacency . So if you really are bull, just don't mock, trust me. Few guys here have the same experiences about the board's sentiment as I do.

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
Post Reply