06/24/2011 Intraday Watering

[90ufo]

if we see H1 on the current bar, that'd be very tricky, i have no idea it should be long or not, my instincts tell me, yes, but I won't trust a snake.

your "evil plan" is so accurate! current H1 is 50-50 though.

[HK88]

If any up move, my wild guess is that it starts around 3.00 pm

[BullBear52x]

head to weak close?

[Anaconda]

Hi Cobra,

on the daily chart for SPY, does it like ascending triangle (from 6/7 till now)? so more down side? thank you

I see a huge bear flag in the forming.

The problem with the bearish outlook is that it needs a trigger. It implies some kind of event, either with Greek debt or someting completely differrent, an unexpected incident. If this does not occur the market might keep on muddling through at this level, as the corporate results ain't that bad (yet) and the dollar is weak (and internationally operating companies are making tons of money).

Interesting that you would say this, given the rich history of market moves which were not precipitated by any events whatsoever (even though pundits always come up with their reasons afterwards). Just for kicks, you should look into the study of socionomics. Whatever your view of Prechter, et al, the research they've done is quite fascinating on the subject of event-driven market moves. vs mood driven ones.
Cheers,
A

Well, there are better books about behavioural finance than those by Prechter. Prechter is a great salesman, he reminds me of the Tea Party or of Karl Marx: a very ideological outlook which has a 38.2% rapport with reality...

Classic ad hominem attack. I won't dignify your name-calling of the man, but I will say his points re. social mood and event-driven market moves are data driven and wholly refute your call for "an event."

[Thunder]

Mr Cletus !!! Your turning point to the down side , end today right ???

[Tabby]

He is not here anymore.

[BullBear52x]

He is not here anymore.

Someone hurt his feeling, I would too especially from an internet message board. com'on Cletus, I know you around get tough man.

[Cobra]

if we see H1 on the current bar, that'd be very tricky, i have no idea it should be long or not, my instincts tell me, yes, but I won't trust a snake.

your "evil plan" is so accurate! current H1 is 50-50 though.

I figured no solid reason to trade that H1.

[Cobra]

no good, looks like a Descending Triangle in the forming and as I'm typing has already broken.

[uempel]

Anaconda, I didn't want to offend you. But this guy Prechter uses a phenomenon (EW) which does have a certain plausibility and he markets it as a religion. He reminds me of a snake oil-salesman in the 30ies, or of some pharmaceuticals today, with clinical trials showing that the agent and the placebo both have the same success rate... Prechter is a damn good businessman, but I'm not sure if his clients make any money.

[Tabby]

BB52X,
I am not a little kid. Someone comes here and constantly calling bears or perma bears names, then he or she deserves to be confronted.
All we said, quit calling names in nutshell.
( Cletus)He or she was knowledgeable trader but I don't take insult from anyone. Respect comes with giving respect. Alphahorn posted in here many times, he never ever called anyone names.

[KENA]

The trin is up to 2.29. Maybe we may have a weak close. Lets see

[Cobra]

I see a huge bear flag in the forming.

The problem with the bearish outlook is that it needs a trigger. It implies some kind of event, either with Greek debt or someting completely differrent, an unexpected incident. If this does not occur the market might keep on muddling through at this level, as the corporate results ain't that bad (yet) and the dollar is weak (and internationally operating companies are making tons of money).

Interesting that you would say this, given the rich history of market moves which were not precipitated by any events whatsoever (even though pundits always come up with their reasons afterwards). Just for kicks, you should look into the study of socionomics. Whatever your view of Prechter, et al, the research they've done is quite fascinating on the subject of event-driven market moves. vs mood driven ones.
Cheers,
A

Well, there are better books about behavioural finance than those by Prechter. Prechter is a great salesman, he reminds me of the Tea Party or of Karl Marx: a very ideological outlook which has a 38.2% rapport with reality...

can you recommend a good book on behavioral finance? Thank you.

you, send me an email, uempel has something for you. you can find my email at hutong9 茶馆，欢迎广告。

[Mario TR]

Maybe a pullbak to last support

[agnosia]

decent support @ 1262-61.50 ... feels like typical summer false break downs + break outs.

[Cobra]

I still think the end of day rally is still possible. bulls need a small bull bar to start...

[Anaconda]

Anaconda, I didn't want to offend you. But this guy Prechter uses a phenomenon (EW) which does have a certain plausibility and he markets it as a religion. He reminds me of a snake oil-salesman in the 30ies, or of some pharmaceuticals today, with clinical trials showing that the agent and the placebo both have the same success rate... Prechter is a damn good businessman, but I'm not sure if his clients make any money.

No problem. I'm not offended. I just don't have much time for attack of the person, when there is ample output of his which one can take issue with. I, for one, don't trade on his material. I do, however, have a very healthy respect for his work on socionomics, the insights he has had re. social mood, his resurrection of Elliott Wave Theory and, perhaps not least, the number of famous traders who do subscribe to his theories. I use a combination of sentiment, technical and fundamental analyses to trade with.

Good luck!

[uempel]

I still think the end of day rally is still possible. bulls need a small bull bar to start...

Hasn't broken out of the ellipse yet.

[Anaconda]

If we end with lower low, the early 4th of July fireworks may still be on the table for Monday! Possible shooting star in the making?

[Cobra]

descending triangle text book target as shown by tinted area. Personally as I said a moment ago, I'd be very happy if the green line below could be reached.