07/27/2011 Intraday Watering

[Cobra]

Cobra,

we are almost close to the 7/20 lows? Do you think there is more weakness ahead??

Made a huge long call yesterday and I need to recover my loss.....your input will be appreciated.

close low today, a lower close ahead WAS almost guaranteed, but should be a big rebound tomorrow.

[Cobra]

consolidation, then breakdown, too bad. really hope the breakdown is a headfake, let's pray...

[soku]

i see a good support in 1303-1305 area. together with 1300, these will be in effect imho.
best scenario is to form a base around 1310 then start a trading bounce. for a trending continued from overnight, it is really high risk to trade on either side.

sh***, right after i draw my line in sand, the market is challenging it.
if broke? i don't know. the purpose of lis is it will not broke.

[Cobra]

overshot, volume surge, could be another rebound attempt, let's see. I think you all know that market comments are different from trading that it seems I always am against the trend, so no bother I explain more here. I never front run the market.

[hiram]

guys i know here most are focused on the tress not the forest but consider the event risk of next few days

jobs number tomorrow

housing number tomorrow

gdp friday

high chance no debt ceiling into the weekend


hiram

[MajorEasy]

had to draw new possible path forks

[oldpigwang]

Cobra Da: Should buy Call now? mkt may gap up +100pt?

[Cobra]

still sees overshot, still sees volume surge, still think should be a rebound of some kind here. bulls need a H2 to confirm the rebound of course.

[Cobra]

Cobra Da: Should buy Call now? mkt may gap up +100pt?

don't know. I just know NORMALLY, if we close low of the day, tomorrow USUALLY UP BIG, but a lower close WAS almost guaranteed. I'll present my witness tonight. but if we rebound huge from here, then forget this pattern I mentioned.

[Cobra]

H2 indeed, let's see how far this rebound can go. strong close is actually not good for bulls while ironically weak close is good for bulls.

[99er]

10-Year Note
Hey Ben...
http://99ercharts.blogspot.com/2011/07/10y.html

And NQ
http://99ercharts.blogspot.com/2011/07/nq.html

Pulling out your hair yet?

[Cobra]

a little bigger picture, this should be a 3 legged down, right now maybe the 2nd leg is done. Here's the general pattern. I said GENERAL.

[Cobra]

up up up, ole' ole' ole'.

[Cobra]

volume surge, no... strong the force on the dark side is.

[oldpigwang]

Cobra: Bought rut calls, already made $$. ThX for ur rebound call for to9mporrow.

[nonabear]

H2 indeed, let's see how far this rebound can go. strong close is actually not good for bulls while ironically weak close is good for bulls.

Cobra,

Right on, after mupltiple down days a close right at the low of the day is usually followed by a big up day...but if it closes well off the low it is usually bearish for the next day...look at charts and you will see this.

[Cobra]

oh no, show mercy, please...

[Cobra]

Cobra: Bought rut calls, already made $$. ThX for ur rebound call for to9mporrow.

well, too early to say, wish you don't want to kill me tomorrow.

[Cobra]

no good...

[Cobra]

another small double bottom here, so guess that's it for today, no more panic...