07/25/2011 Intraday Watering

Post by **Cobra** » Mon Jul 25, 2011 10:30 am

davros wrote:Cobra somebody mentioned RIMM the other day and you said if you're not a trader just forget it, which I fully understand, it's better for people to buy things going up!

But just wondering about that huge volume day recently, would that count as 'exhaustion selling'?

rimm.png

now could see as back test of the previous low therefore chances for a bottom. still it's for traders only.

BullBear52x · Post by **BullBear52x** » Mon Jul 25, 2011 10:33 am

Bulls shake out? or this damage a start of a crack. 5 dma, 133.2-ish level got defensed. this is one good buying so far, well, but the buying is not as strong see RSI<50, macd is negative . I see the weakness to continue for the quicky DT

BullBear52x · Post by **BullBear52x** » Mon Jul 25, 2011 10:48 am

Intraday Neg D

MajorEasy · Post by **MajorEasy** » Mon Jul 25, 2011 10:48 am

i like easier trades,
or maybe i just don't like trading gaps.

99er · Post by **99er** » Mon Jul 25, 2011 10:51 am

SPX
Targeting 1286.
http://99ercharts.blogspot.com/2011/07/spx_25.html

agnosia · Post by **agnosia** » Mon Jul 25, 2011 10:54 am

agnosia wrote:long /cl 99.33 for gap fill @ 99.87

got stopped out even. way too choppy today.. sidelines for me for now.

99er · Post by **99er** » Mon Jul 25, 2011 10:54 am

cougar: "SPX monthly & Lady’s Windermere Fan: already bearish "

Thanks for your great charts over the weekend! Fascinating stuff.

Post by **Cobra** » Mon Jul 25, 2011 11:06 am

tough call here, I'll watch for awhile. The setup is ambiguous for me, both short and long seem fit, so I don't know want to do now.

luckystar2006 · Post by **luckystar2006** » Mon Jul 25, 2011 11:13 am

To those elliot wave counters, I were wondering that are we on wave b from 60-min chart? If so, wave c must not make a higher high than beginning of July's high? Thx....

Mr. T · Post by **Mr. T** » Mon Jul 25, 2011 11:17 am

BullBear52x wrote:Bulls shake out? or this damage a start of a crack. 5 dma, 133.2-ish level got defensed. this is one good buying so far, well, but the buying is not as strong see RSI<50, macd is negative . I see the weakness to continue for the quicky DT

Yup, that's what I was thinking too = start of a crack.

Couple days with questions like today, and the dam will break.

Post by **Cobra** » Mon Jul 25, 2011 11:28 am

the 3rd attempt to breakout, critical here... More likely to make it but if failed, then no good. Let's wait.

Post by **Cobra** » Mon Jul 25, 2011 11:29 am

overshot, still need watch...

agnosia · Post by **agnosia** » Mon Jul 25, 2011 11:31 am

Cobra wrote:tough call here, I'll watch for awhile. The setup is ambiguous for me, both short and long seem fit, so I don't know want to do now.

lol. well put....

MajorEasy · Post by **MajorEasy** » Mon Jul 25, 2011 11:33 am

i'm not interested in taking a long here.

Post by **Cobra** » Mon Jul 25, 2011 11:36 am

volume surge, overshot, not good, but still bears need a L2. Wait...

shumushu · Post by **shumushu** » Mon Jul 25, 2011 11:38 am

Cobra wrote:volume surge, overshot, not good, but still bears need a L2. Wait...

Looks like a measured move up from the consolidation area upwards to fill the gap. Such a huge gap down usually have low probability to fill it. Today seems to be the exception. Huge A/D negative from the open, but the market doesn't give

Post by **Cobra** » Mon Jul 25, 2011 11:41 am

L2, let's see if bears can push the bulls down. still tough call here, bears have the ball though.

BullBear52x · Post by **BullBear52x** » Mon Jul 25, 2011 11:44 am

Cobra wrote:volume surge, overshot, not good, but still bears need a L2. Wait...

This is good sign Cobra is awake.

agnosia · Post by **agnosia** » Mon Jul 25, 2011 11:47 am

one final attempt from me...long /cl 99.20, stop even. lets see if we can close that gap this time ...

cougar · Post by **cougar** » Mon Jul 25, 2011 11:48 am

AAPL is undisturbed by the Hill, the W. H. and all that guano...
I am still long...just unbelievable...

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07/25/2011 Intraday Watering

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