Back to www.cobrasmarketview.com

08/16/2011 Intraday Watering

User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 08/16/2011 Intraday Watering

Post by Cobra »

AK84 wrote:Cobra,

If we dont close below yesterdays low, will CI go into short mode or hold trapped long overnight ?

Also what is your bias for tomorrow now given you saw a lot of action today ? down or consolidate?
Anything changed in your opinion ?
short-term still up, so bullish biased tomorrow unless I see something dramatic in the last 2 hours.

We had the lower low, so as long as today closes in red CIS is short.

CIS is not short-term model. The short-term model is long (trapped) so has to hold overnight assuming we close right here.

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
99er
Posts: 3686
Joined: Mon Feb 14, 2011 3:43 pm
Contact:

Re: 08/16/2011 Intraday Watering

Post by 99er »

Say honey...wanna go for a drive?
SPX http://99ercharts.blogspot.com/2011/08/spx_2523.html

Vroom vroom.
AK84
Posts: 574
Joined: Tue Feb 15, 2011 5:09 am

Re: 08/16/2011 Intraday Watering

Post by AK84 »

Cobra wrote:
AK84 wrote:Cobra,

If we dont close below yesterdays low, will CI go into short mode or hold trapped long overnight ?

Also what is your bias for tomorrow now given you saw a lot of action today ? down or consolidate?
Anything changed in your opinion ?
short-term still up, so bullish biased tomorrow unless I see something dramatic in the last 2 hours.

We had the lower low, so as long as today closes in red CIS is short.

CIS is not short-term model. The short-term model is long (trapped) so has to hold overnight assuming we close right here.
Gotcha!

Thanks so much ! Makes sense now
StrikePrice
Posts: 770
Joined: Wed Mar 30, 2011 1:27 pm

Re: 08/16/2011 Intraday Watering

Post by StrikePrice »

OK. Out of the Long because I was distracted back when crazy time hit and didn't exit like Cobra then. Doubled down on the 119.10 breakout, but question is will I regret getting out early (i usually am always early.)

For the Bulls there's still a shot this is a Wave 4 Elongated Flat but it's taking way longer than Wave 2 did. We'll have to see how the rest of the day and tomorrow's morning session goes because otherwise we're looking at the Wave 3 of 1 of the V for the Bears which should easily reach the lower trendline around 117.50.

Lastly I've heard Option Pain for SPY on Friday is 118 so we might be doing a lot of Zig Zag up and down until Friday.
User avatar
proteus46
Posts: 190
Joined: Mon Jun 06, 2011 4:12 pm

Re: 08/16/2011 Intraday Watering

Post by proteus46 »

SPX bounced off of the 61.8 fib line, cut through the 50 fib line. Sorry about the overlapping fib lines.
Attachments
8-16-11 1 minute.png
AK84
Posts: 574
Joined: Tue Feb 15, 2011 5:09 am

Re: 08/16/2011 Intraday Watering

Post by AK84 »

Jeeez...
SODA getting absolutely CRUSHEDDDDDDDDDDDDDDDDD today!!!! I bought 1 put around 45$ and its already up a crapload! :shock: Should have bought more but this new seat in the office is not letting me look at charts properly and freequently. DAMN YOU CORPORATE AMERICA!!!!
:twisted: :twisted:
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 08/16/2011 Intraday Watering

Post by Cobra »

cannot believe the pullbacks we had those days were only one legged. got to test the day's low at least my guess.
Attachments
1.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
SigmaEcho
Posts: 286
Joined: Fri Apr 08, 2011 12:09 pm

Re: 08/16/2011 Intraday Watering

Post by SigmaEcho »

Cobra wrote:cannot believe the pullbacks we had those days were only one legged. got to test the day's low at least my guess.

Dead man walking; on one leg now :)
nasa1100
Posts: 34
Joined: Tue Feb 15, 2011 4:05 pm

Re: 08/16/2011 Intraday Watering

Post by nasa1100 »

Cobra wrote:cannot believe the pullbacks we had those days were only one legged. got to test the day's low at least my guess.
L2 coming...
cougar
Posts: 1914
Joined: Fri May 20, 2011 9:25 am

Re: 08/16/2011 Intraday Watering

Post by cougar »

Not exactly the same SPX30 min:
After lowering the Fan by 2 notches and letting the BOT find a parabolic top, this might look like a beginning of a down trend…
Attachments
parabGIF.GIF
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 08/16/2011 Intraday Watering

Post by Cobra »

Morning low held, not a perfect 2nd leg but, well, cannot complain. Let's see, I'm pretty much clueless now. the feeling is not bearish.
Attachments
1.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Anaconda
Posts: 487
Joined: Fri May 06, 2011 2:57 pm

Re: 08/16/2011 Intraday Watering

Post by Anaconda »

cougar wrote:Not exactly the same SPX30 min:
After lowering the Fan by 2 notches and letting the BOT find a parabolic top, this might look like a beginning of a down trend…
Good chart. Agree in principal with the notion of a pending downturn, but based on yesterday's strong upswing (90% adv to decl. on the NYSE and volume big), I'm thinking we're still due for a higher high- maybe 2015 or so SPX.
cougar
Posts: 1914
Joined: Fri May 20, 2011 9:25 am

Re: 08/16/2011 Intraday Watering

Post by cougar »

Anaconda: Right...all we can do, is be ready ...THEY will decide where the market will close...and this will be important
cougar
Posts: 1914
Joined: Fri May 20, 2011 9:25 am

Re: 08/16/2011 Intraday Watering

Post by cougar »

I also have a confluence around 1218...
rola
Posts: 163
Joined: Tue Apr 26, 2011 1:12 pm

Re: 08/16/2011 Intraday Watering

Post by rola »

They will suprise with 1228
User avatar
BullBear52x
Posts: 29516
Joined: Tue Feb 22, 2011 3:47 pm

Re: 08/16/2011 Intraday Watering

Post by BullBear52x »

My bullishness must have help my thought today, crazy day but could be worst come out unscatch up tomoooooooroooooooo wishful thinking, or time to change side tomorrow, thanks Cobra and all the great chartists here. you guys are awsome!
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
BullBear52x
Posts: 29516
Joined: Tue Feb 22, 2011 3:47 pm

Re: 08/16/2011 Intraday Watering

Post by BullBear52x »

crazy as it may sound, Bull on.....for breakfast.
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
v1stock.com
Posts: 31
Joined: Fri Aug 05, 2011 1:22 pm
Location: South Padre Island, Texas
Contact:

Re: 08/16/2011 Intraday Watering

Post by v1stock.com »

gld & slv close to high of day

spy - you should have stopped out 118.99 . a lower low now a pending downturn?
StrikePrice
Posts: 770
Joined: Wed Mar 30, 2011 1:27 pm

Re: 08/16/2011 Intraday Watering

Post by StrikePrice »

Did they just use the Europe news as a Bear Trap? Because I'm feeling really trapped right now.
newbie_77
Posts: 300
Joined: Fri Jul 29, 2011 1:47 pm

Re: 08/16/2011 Intraday Watering

Post by newbie_77 »

StrikePrice wrote:OK. Out of the Long because I was distracted back when crazy time hit and didn't exit like Cobra then. Doubled down on the 119.10 breakout, but question is will I regret getting out early (i usually am always early.)

For the Bulls there's still a shot this is a Wave 4 Elongated Flat but it's taking way longer than Wave 2 did. We'll have to see how the rest of the day and tomorrow's morning session goes because otherwise we're looking at the Wave 3 of 1 of the V for the Bears which should easily reach the lower trendline around 117.50.

Lastly I've heard Option Pain for SPY on Friday is 118 so we might be doing a lot of Zig Zag up and down until Friday.
strikeprice,
it may seem that 118 might be too low for a max pain :D @ least for the monthly. i am sure there were lot of put buying in last 2 weeks in the lower range so MM will try to jerk it up to about 123-125 @ least. to invalidate all payouts in the lower range.
Post Reply