02/17/2011 Intraday Watering

Post by **Cobra** » Thu Feb 17, 2011 1:51 pm

Just for fun, if you really think this is a top of some kind. Here's my little evil plan for DT, 3 push up top (typical), short at 2nd leg down.

KENA · Post by **KENA** » Thu Feb 17, 2011 2:00 pm

Cobra wrote:anyone still holding H3 long? Looks not strong enough? I'm shaking...

I am out long. could go to 1340/1342.Lots of res. at that point.Gains not worth the risk .May short near close. Kena

Post by **Cobra** » Thu Feb 17, 2011 2:02 pm

rbharol wrote:Weekly RSI > 70

Hmm, I like this chart, simple and powerful. But still it takes time and we don't know when. A couple of month like this going up day by day, my blog would be dead.

From my cycle analysis, I see multiple cycle due in Apirl which means, really we could up until Apirl. The last time multiple cycles due on my chart was July 2009, remember what happened thereafter? I think that was when institutions were actually in!

Post by **Cobra** » Thu Feb 17, 2011 2:06 pm

Nice 2 bar reversal, congratulations for those H3 strong hand, I'm simply too old for that. But my little evil plan looks more likely now. 3 push up, yes, give me the final push, please!

koolblue · Post by **koolblue** » Thu Feb 17, 2011 2:08 pm

koolblue wrote:Good morning! looking to buy 1334.75, for a move to 1339-41...

...MISSED IT BY 2 TICKS!

Post by **Cobra** » Thu Feb 17, 2011 2:09 pm

The key to trading reversal here is the last push must be much shorter than that of the 2nd push. Normally, it's not a good idea to against the trend but since you guys here, if my guess is right, are mostly bears...

Post by **Cobra** » Thu Feb 17, 2011 2:13 pm

A little nice wedge here, by the way.

bear33 · Post by **bear33** » Thu Feb 17, 2011 2:14 pm

cobra, in your opinion what price would be good to short, based on 3rd push up reversal, of course if its to play out? thanx

Post by **Cobra** » Thu Feb 17, 2011 2:16 pm

bear33 wrote:cobra, in your opinion what price would be good to short, based on 3rd push up reversal, of course if its to play out? thanx

No idea, because now we're at new high, nothing can be a reference.

Just a reminder, an experienced trader won't think of shorting at this stage, instead he'd try his best to ride the trend which so fa now is up.

shumushu · Post by **shumushu** » Thu Feb 17, 2011 2:19 pm

H3 here we go! NDX is still stuck at the 2400 zone with apple down. Russells and ES showing great strength!

Dow Trader · Post by **Dow Trader** » Thu Feb 17, 2011 2:21 pm

Copra,
check the daily MACD in VIX if it closed above 16.80 which will puch the hitogram to above zero

Post by **Cobra** » Thu Feb 17, 2011 2:22 pm

I think it's time to say bye bye to this Rising Wedge.

Post by **Cobra** » Thu Feb 17, 2011 2:24 pm

Dow Trader wrote:Copra,
check the daily MACD in VIX if it closed above 16.80 which will puch the hitogram to above zero

Seems not much edge when MACD hist above zero?

Post by **Cobra** » Thu Feb 17, 2011 2:27 pm

Nice little Wedge still in play, but even I really believe this is a top (which I don't), I wouldn't short the first pullback. Stock market doesn't reward hero, remember that!

koolblue · Post by **koolblue** » Thu Feb 17, 2011 2:28 pm

simpletrader · Post by **simpletrader** » Thu Feb 17, 2011 2:30 pm

Cobra wrote:I think it's time to say bye bye to this Rising Wedge.

why say bye bye?

simpletrader · Post by **simpletrader** » Thu Feb 17, 2011 2:30 pm

koolblue wrote:

nice one

koolblue · Post by **koolblue** » Thu Feb 17, 2011 2:33 pm

koolblue wrote:
koolblue wrote:Good morning! looking to buy 1334.75, for a move to 1339-41...
...MISSED IT BY 2 TICKS!

...Binbo!!! ( looking for a short scalp at 1340.25-75 now.. refer to earlier chart)

shumushu · Post by **shumushu** » Thu Feb 17, 2011 2:38 pm

I sold my long from this morning, going short for a quick swing. SPX 1340, NDX 2400.

Traderwill33 · Post by **Traderwill33** » Thu Feb 17, 2011 2:41 pm

Cobra-

14 straight white candles on the SPY...... Any thoughts on that? Exhaustion must be close?

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02/17/2011 Intraday Watering

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