08/24/2011 Intraday Watering

[Cobra]

blue line must hold, otherwise there's a chance the rebound is over (intrady rebound) as breakdown below the blue line would be a small double top.

[Cobra]

Cobra, this AM. My father gave me a call and he said this " Some professional trader guy named Cobra said the SPX target is 1175" on Wenxuecity. He recommended I close my longs there. I was like !?!? can this be the same Cobra? so popular

yes, the same Cobra. But I never posted anything there in Wenxue city. Got to be someone forwarded my post there. I think my site which is Hutong9.net is the rival of the Wenxue city, therefore my posts are forbidden there even forward is not allowed, so the post will be removed pretty soon I guess.

[Cobra]

by the way, I don't have good feelings here for bulls, wish I were wrong. I'll explain why when indeed breakdown and we pullback to test the day's low.

[Al_Dente]

Trying to break critical trendline

http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

[biotrader]

by the way, I don't have good feelings here for bulls, wish I were wrong. I'll explain why when indeed breakdown and we pullback to test the day's low.

Soo bearish lately! ugh!!

[Cobra]

well, cannot breakdown, then chances are high it'll breakout and the day's high will be revisited.

[Cobra]

text book target if indeed breakout.

[KENA]

Here is what I see..A trend line from 1340+/- dn thru 1210 +/- dn to 1170 todays hi.If this holds then 1170 is our new lower hi.Then a retest of 1120 is in order.If we break out like Cobra shows then all bets off.Wait and see.

[KENA]

Just made a quick check of AAPL and some of the other leaders and they are showing same patterns.All of the Stoh's are turning dn.Wait and see.

[jarbo456]

looks like a breakout in formation unless we get a strong sell on the 5 minute here.

[Cobra]

breakout as I said, but we need wait for a few bars to see if this is a real breakout.

[99er]

Da Boyz sweeping the stops?

[trader0303]

Da Boyz sweeping the stops?

da boyz just cleaned mine up

[jarbo456]

bulls haven't had enough for the day. looks like we're heading to 118.

[jarbo456]

BAC ripping 11%...really? capitulation rally, but we all know where it's going right? -_-

[Me XMan]

Bulls are banking on Friday when Benny will spread money out from helicopter.

BAC ripping 11%...really? capitulation rally, but we all know where it's going right? -_-

[99er]

SPX
Almost 61.8% of that local high (1207) again. Call it a Double Top?

[Bencat]

breakout as I said, but we need wait for a few bars to see if this is a real breakout.

smart call! SPY will go up to 121 level after break out the 117.8?

[Anaconda]

SPX
Almost 61.8% of that local high (1207) again. Call it a Double Top?

That's my read, too. Crazy low volume run.

[Cobra]

key time, cannot decisively breakout then the rebound is in danger. let's watch.