08/10/2011 Intraday Watering

[AK84]

VIX selloff said sell this market
August 10, 2011, 11:04 AM


Hours before the current session’s wipeout, stock watchers at Cobra’s Market View were feeling bearish about Wednesday’s stock trades — thanks to the VIX. The Chicago Board Options Exchange’s Volatility Index VIX, recently trading at 42.04, fell as much as 29% Tuesday and closed down 13% at 35.06.

“Since the last 2,000 trading days, if you short SPY at today’s close and cover at close tomorrow, you’ll have 89% chances. And if you hold until the very first red day before covering, you’ll have 100% chances,” they wrote late Tuesday. Read full post at Cobra’s Market View.

The SPDR S&P 500 ETF Trust SPY , a exchange-traded fund that tracks the S&P 500 SPX, was recently trading down 3.8 %. The VIX was up 22% to 42.80. — Laura Mandaro

http://blogs.marketwatch.com/thetell/20 ... is-market/

wow, congrats cobra. u r on marketwatch now (which is owned by wsj)
good observation and nice article

This is the first of many placed Cobra will get featured. I KNOW IT! CONGRATS SIR!!!

[Cobra]

no good, the 3rd test has higher chances to breakdown. The pattern, overall, looks like a Descending Triangle.

[soku]

wow, congrats cobra. u r on marketwatch now (which is owned by wsj)
good observation and nice article

grumbles. The mainstream media has a way of poisening good things. If the TV and magazines start chattering about Cobra, things will get weird.

well, u make me imagine cobra on cnbc, with his chinese face and superman outfit.
wow when is the last time i saw a guy put his underwear outside on tv

[99er]

Bears will like this.
SPX
http://99ercharts.blogspot.com/2011/08/spx.html

[pablorynx]

no good, the 3rd test has higher chances to breakdown. The pattern, overall, looks like a Descending Triangle.

Cobra, have you ever considered incorporating intraday breadth measures to aid in your pattern recognition? I'm seeing less negative breadth on this last retest of intraday lows.

[silicon_beaver]

no good, the 3rd test has higher chances to breakdown. The pattern, overall, looks like a Descending Triangle.

spy chart

[Cobra]

still looks like a Descending Triangle. Now with European market closed, let's see where US gangs lead the market to.

[99er]

Arguably the only chart that matters today.
EURUSD http://99ercharts.blogspot.com/2011/08/eurusd_10.html

Good luck.

[Out of Bounds]

S1 is 112.66 on SPY. S2 is 107.85.

Pivot is 115.08

[luckystar2006]

no good, the 3rd test has higher chances to breakdown. The pattern, overall, looks like a Descending Triangle.

Cobra, have you ever considered incorporating intraday breadth measures to aid in your pattern recognition? I'm seeing less negative breadth on this last retest of intraday lows.

I believe that incorporating market breadth indicators into intraday 5-min chart is often quite misleading. Reading a chart pattern with supports & resistance levels is a more reliable way.

[Tabby]

wow, congrats cobra. u r on marketwatch now (which is owned by wsj)
good observation and nice article

grumbles. The mainstream media has a way of poisening good things. If the TV and magazines start chattering about Cobra, things will get weird.

well, u make me imagine cobra on cnbc, with his chinese face and superman outfit.
wow when is the last time i saw a guy put his underwear outside on tv

No more talks about washroom or lunch breaks. He will be very serious man.May I have your autograph before you become berry berry famous?

[Cobra]

no good, the 3rd test has higher chances to breakdown. The pattern, overall, looks like a Descending Triangle.

Cobra, have you ever considered incorporating intraday breadth measures to aid in your pattern recognition? I'm seeing less negative breadth on this last retest of intraday lows.

chart pattern is more reliable.

all are derived from chart, right? So theoretically, nothing is better than chart price itself.

I used to use lots of breadth, such as AD, TICK, TRIN etc, I didn't see any edge from them.

[Orbiter1]

DAX-Index, Germany closed a few minutes ago nearly 5% down. This was the 11th day loss in a row. Unbelievable.

[StrikePrice]

VIX selloff said sell this market
August 10, 2011, 11:04 AM


Hours before the current session’s wipeout, stock watchers at Cobra’s Market View...

http://blogs.marketwatch.com/thetell/20 ... is-market/

I think you got to say that's pretty cool. And with all the pundits out there who aren't half as knowledgeable as Cobra blabbing on TV or thestreet.com (anyone remember Lenny Dykstra?) Cobra deserves some credit from a respected Media Source like MarketWatch/WSJ (my sister worked there in late 90s and said they were way better than Forbes.com)

[Mr. BachNut]

For what it's worth, I find myself watching the VIX a lot. If it makes new highs, things look more and more like 2008 with market dealing with systemic crisis.

[Dow Trader]

For ES traders ( big move is comming )

[StrikePrice]

Cobra,

I also wanted to say how refreshing it is how humble you are.

Back to technicals, breaking and putting in a Swing Low above the EMA 110 on the 1-Minute is still my trigger for any short-term long trade like the pop yesterday where I at least caught half of it.

[KENA]

Have we put in a bottom during the last hr.I guess wait and see. Anyway it is time for workout.

[silicon_beaver]

metals swing back. they were red in yesterday early morning. silver up. EXK, SVM, SLW...

[uempel]

Let's see if the blue wedge will work:

The attachment SPX19.png is no longer available

that means either we breakout to the upside or the downside ... is that correct?

Newbie, a bullish wedge points to the downside (see the blue one), bearish to the upside. Chartschool at stockcharts.com might be something for you, and buy TA of the Financial Markets by John Murphy or TA Explained by Pring. Without carefully reading these books TA makes no sense...