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06/01/2011 Intraday Watering

mkt_tango
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Re: 06/01/2011 Intraday Watering

Post by mkt_tango »

Cobra wrote:good, rebound indeed. let's see if my target call could be right or not.
Do you mean target up to 133.20 or down (3 push down)?
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99er
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Re: 06/01/2011 Intraday Watering

Post by 99er »

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Cobra
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Re: 06/01/2011 Intraday Watering

Post by Cobra »

mkt_tango wrote:
Cobra wrote:good, rebound indeed. let's see if my target call could be right or not.
Do you mean target up to 133.20 or down (3 push down)?
at least larger than highlighted area.

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donatoloscalzo
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Re: 06/01/2011 Intraday Watering

Post by donatoloscalzo »

Cobra thanks for your good commentary. However could you be more specific when you refer to highlighted area you mean the first lowest square or the second higher? Thanks
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Cobra
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Re: 06/01/2011 Intraday Watering

Post by Cobra »

hopefully this is the 2nd leg up also as Double Bottom, therefore target as highlighted. For a very long long time we haven't seen such a weak market like today. very surprising. Don't people say now the QE3 is sure thing and therefore the rebound we saw for the past 4 days? :roll:
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AK84
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Re: 06/01/2011 Intraday Watering

Post by AK84 »

Cobra wrote:hopefully this is the 2nd leg up also as Double Bottom, therefore target as highlighted. For a very long long time we haven't seen such a weak market like today. very surprising. Don't people say now the QE3 is sure thing and therefore the rebound we saw for the past 4 days? :roll:

Cobra, do you expect this rebound to be complete before trading close today or continue into tomorrow ? Bullish bearish engulfing ?
Or will the market head further south tomorrow
cougar
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Re: 06/01/2011 Intraday Watering

Post by cougar »

Cobra wrote:hopefully this is the 2nd leg up also as Double Bottom, therefore target as highlighted. For a very long long time we haven't seen such a weak market like today. very surprising. Don't people say now the QE3 is sure thing and therefore the rebound we saw for the past 4 days? :roll:
On this 30 min. chart, the Murrey Math levels were obtained by adjusting the MM octave to the extreme values of the large envelope (yellow).
The 132.5 zone seems to hold, so far…
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Cobra
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Re: 06/01/2011 Intraday Watering

Post by Cobra »

donatoloscalzo wrote:Cobra thanks for your good commentary. However could you be more specific when you refer to highlighted area you mean the first lowest square or the second higher? Thanks
the first one is just the measurement, the 2nd one is copy of the first one meaning that the rebound should be larger than the first one therefore should exceed the 2nd one's area. If I don't show the first highlighted area, you won't know how I get the 2nd highlighted area, will you?

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alvian33
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Re: 06/01/2011 Intraday Watering

Post by alvian33 »

cobra no rebond so far, any thoughts?
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Cobra
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Re: 06/01/2011 Intraday Watering

Post by Cobra »

AK84 wrote:
Cobra wrote:hopefully this is the 2nd leg up also as Double Bottom, therefore target as highlighted. For a very long long time we haven't seen such a weak market like today. very surprising. Don't people say now the QE3 is sure thing and therefore the rebound we saw for the past 4 days? :roll:

Cobra, do you expect this rebound to be complete before trading close today or continue into tomorrow ? Bullish bearish engulfing ?
Or will the market head further south tomorrow
will have to see how market closes today. so far, very weak today, even cannot rebound a little.

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Cobra
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Re: 06/01/2011 Intraday Watering

Post by Cobra »

alvian33 wrote:cobra no rebond so far, any thoughts?
wait and see. weaker than I thought.

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ctu688
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Re: 06/01/2011 Intraday Watering

Post by ctu688 »

cletus wrote:Yes, I wouldn't recommend anyone take a trade without doing the research, but if people can't do the research and don't understand why I was shorting oil yesterday at the open and it's now down 3% from that level, then they shouldn't be trading period. Other people just post charts and saying nothing that has any meaning or value to me. I'd like to see them post their actual trades because that says something about their confidence.

Anyone can post a chart. Other people have courage and balls.
uempel wrote:Hey cletus, wouldn't it be strange (and stupid) if some newcomer just picks up an idea in a forum like this and risks his money without understanding the ups and downs of the market? I believe the great opportunity here is to learn applications of TA - and nothing else.

To just copy some trade from anybody, even from Cobra, is not very wise...
cletus wrote:
I post these hugely profitable trades on here and it seems like some other people get a lot of thanks and credit for posting a chart and giving hardly any advice at all (not speaking about cobra). Strange world we live in.

Just look at oil. I said I was shorting USO off the open yesterday at 40.70 and a now it's under 40.

You're welcome.
Hi Cletus,

Can you elaborate the reasoning of your call on shorting the oil? Appreciated.
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Cobra
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Re: 06/01/2011 Intraday Watering

Post by Cobra »

alvian33 wrote:cobra no rebond so far, any thoughts?
I think another rebound attempt here. This time should be going a little far, let's see.
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Cobra
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Re: 06/01/2011 Intraday Watering

Post by Cobra »

AK84 wrote:
Cobra wrote:hopefully this is the 2nd leg up also as Double Bottom, therefore target as highlighted. For a very long long time we haven't seen such a weak market like today. very surprising. Don't people say now the QE3 is sure thing and therefore the rebound we saw for the past 4 days? :roll:

Cobra, do you expect this rebound to be complete before trading close today or continue into tomorrow ? Bullish bearish engulfing ?
Or will the market head further south tomorrow
by the way, today's not a Bearish Engulfing therefore bullish. No, the daily chart is way bearish if we close right here.
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donatoloscalzo
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Re: 06/01/2011 Intraday Watering

Post by donatoloscalzo »

Cobra, volume is low respect to the size of the red bar......
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BullBear52x
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Re: 06/01/2011 Intraday Watering

Post by BullBear52x »

Watch STO=crossed and CMF<0......Bad bad news for bulls. gap down tomorrow sure will crash the bullish idea all together.
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cougar
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Re: 06/01/2011 Intraday Watering

Post by cougar »

After this latest drop, next support for SPY is the 131.6 area.
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KENA
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Re: 06/01/2011 Intraday Watering

Post by KENA »

We have just about wiped out the last 3 day up move and are now getting dn in the area of of the dippers. The bears have hopes of gapping dn thru all the support.My SPY shorts are looking good again.Belive me I was getting nervous.I will still hold and wait and see.
SigmaEcho
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Re: 06/01/2011 Intraday Watering

Post by SigmaEcho »

hi Cobra,

As you always say INDU is the leader. now almost at May 25th low. SPX will follow soon?
ocassional observer
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Re: 06/01/2011 Intraday Watering

Post by ocassional observer »

another question regarding volumes, the AD is not nearly as bearish as the volume AD, what to make of this, also regarding the AD line made a new high but the market didn't?
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