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02/17/2011 Intraday Watering

Re: 02/17/2011 Intraday Watering

Postby Dow Trader » Thu Feb 17, 2011 2:43 pm

thanks copra,
I just shorted Dow at 12290 waiting to see the close.. and shorted EUR 136.00
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Re: 02/17/2011 Intraday Watering

Postby 99er » Thu Feb 17, 2011 2:47 pm

SPX
Looks like the five-up is complete now.
http://99ercharts.blogspot.com/2011/02/spx_6118.html
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Re: 02/17/2011 Intraday Watering

Postby Cobra » Thu Feb 17, 2011 2:54 pm

Traderwill33 wrote:Cobra-

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


You mean daily? Then, not it's not 14.

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Re: 02/17/2011 Intraday Watering

Postby Cobra » Thu Feb 17, 2011 2:57 pm

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


why say bye bye?


Need a new wedge at least.

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Re: 02/17/2011 Intraday Watering

Postby deep » Thu Feb 17, 2011 2:58 pm

Cobra wrote:
cletus wrote:What is going on with the VIX? LOL!!!


Just a common rule: before a real correction, the VIX may one day suddenly collapse (kind like everyone gives up). For now, VIX is simply too high.


Cobra, could you tell a little more about this rule? how high is too high?
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Re: 02/17/2011 Intraday Watering

Postby Cobra » Thu Feb 17, 2011 3:00 pm

deep wrote:
Cobra wrote:
cletus wrote:What is going on with the VIX? LOL!!!


Just a common rule: before a real correction, the VIX may one day suddenly collapse (kind like everyone gives up). For now, VIX is simply too high.


Cobra, could you tell a little more about this rule? how high is too high?


No fixed number, just a rough idea. You can use the way I shown in last night's recap to gauage if it's too high.

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Re: 02/17/2011 Intraday Watering

Postby Cobra » Thu Feb 17, 2011 3:06 pm

Here's a little bigger wedge.
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Re: 02/17/2011 Intraday Watering

Postby shumushu » Thu Feb 17, 2011 3:14 pm

I covered, don't wanna mess with the market at this level.
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Re: 02/17/2011 Intraday Watering

Postby Cobra » Thu Feb 17, 2011 3:15 pm

This kind of narrow range consolidation is not bad for bulls.
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Re: 02/17/2011 Intraday Watering

Postby Cobra » Thu Feb 17, 2011 3:19 pm

See, told you. Now we should abort our little evil plan earlier as this is way too much 3rd push up.
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Re: 02/17/2011 Intraday Watering

Postby uempel » Thu Feb 17, 2011 3:21 pm

I added shorts at 1340, the top of my short term Andrew's Fork:

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=3
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Re: 02/17/2011 Intraday Watering

Postby shumushu » Thu Feb 17, 2011 3:22 pm

Let see if we can close above the rising wedge on the 30 minutes.
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Re: 02/17/2011 Intraday Watering

Postby shumushu » Thu Feb 17, 2011 3:23 pm

uempel wrote:I added shorts at 1340, the top of my short term Andrew's Fork:

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=3


Is this for a swing or day?

PS: I also shorted the nasdaq again when it dropped back down.
Last edited by shumushu on Thu Feb 17, 2011 3:28 pm, edited 1 time in total.
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Re: 02/17/2011 Intraday Watering

Postby Cobra » Thu Feb 17, 2011 3:24 pm

uempel wrote:I added shorts at 1340, the top of my short term Andrew's Fork:

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=3


Go uemple, go, frankly, you made me nervous, I dare not ALWAYS bet against you! :roll:

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Re: 02/17/2011 Intraday Watering

Postby Cobra » Thu Feb 17, 2011 3:26 pm

2 bar reversal again, let's see if any real follow-through.
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Re: 02/17/2011 Intraday Watering

Postby koolblue » Thu Feb 17, 2011 3:28 pm

Image
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Re: 02/17/2011 Intraday Watering

Postby Cobra » Thu Feb 17, 2011 3:47 pm

Little support here, no idea what's the next...
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Re: 02/17/2011 Intraday Watering

Postby Dow Trader » Thu Feb 17, 2011 3:57 pm

cotton limit up again today. All buy orders will be removed and rejected.
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Re: 02/17/2011 Intraday Watering

Postby shumushu » Thu Feb 17, 2011 3:57 pm

Covered my nasdaq, need to be more patient here.
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Re: 02/17/2011 Intraday Watering

Postby Cobra » Thu Feb 17, 2011 4:01 pm

OK, now let's see how the market retest the high. A failure may mean bear's best chance for the day.
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