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08/24/2011 Intraday Watering

Re: 08/24/2011 Intraday Watering

Postby Cobra » Wed Aug 24, 2011 2:23 pm

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.
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Re: 08/24/2011 Intraday Watering

Postby Cobra » Wed Aug 24, 2011 2:25 pm

shumushu wrote: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. :lol:

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Re: 08/24/2011 Intraday Watering

Postby Cobra » Wed Aug 24, 2011 2:28 pm

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. :mrgreen:
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Re: 08/24/2011 Intraday Watering

Postby Al_Dente » Wed Aug 24, 2011 2:29 pm

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Re: 08/24/2011 Intraday Watering

Postby biotrader » Wed Aug 24, 2011 2:43 pm

Cobra wrote: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. :mrgreen:


Soo bearish lately! ugh!! :evil: :roll:
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Re: 08/24/2011 Intraday Watering

Postby Cobra » Wed Aug 24, 2011 2:45 pm

well, cannot breakdown, then chances are high it'll breakout and the day's high will be revisited.
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Re: 08/24/2011 Intraday Watering

Postby Cobra » Wed Aug 24, 2011 2:47 pm

text book target if indeed breakout.
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Re: 08/24/2011 Intraday Watering

Postby KENA » Wed Aug 24, 2011 2:56 pm

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.
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Re: 08/24/2011 Intraday Watering

Postby KENA » Wed Aug 24, 2011 3:02 pm

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.
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Re: 08/24/2011 Intraday Watering

Postby jarbo456 » Wed Aug 24, 2011 3:05 pm

looks like a breakout in formation unless we get a strong sell on the 5 minute here.
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Re: 08/24/2011 Intraday Watering

Postby Cobra » Wed Aug 24, 2011 3:06 pm

breakout as I said, but we need wait for a few bars to see if this is a real breakout.
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Re: 08/24/2011 Intraday Watering

Postby 99er » Wed Aug 24, 2011 3:08 pm

Da Boyz sweeping the stops?
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Re: 08/24/2011 Intraday Watering

Postby trader0303 » Wed Aug 24, 2011 3:11 pm

99er wrote:Da Boyz sweeping the stops?


da boyz just cleaned mine up :(
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Re: 08/24/2011 Intraday Watering

Postby jarbo456 » Wed Aug 24, 2011 3:15 pm

bulls haven't had enough for the day. looks like we're heading to 118.
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Re: 08/24/2011 Intraday Watering

Postby jarbo456 » Wed Aug 24, 2011 3:17 pm

BAC ripping 11%...really? capitulation rally, but we all know where it's going right? -_-
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Re: 08/24/2011 Intraday Watering

Postby Me XMan » Wed Aug 24, 2011 3:24 pm

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

jarbo456 wrote:BAC ripping 11%...really? capitulation rally, but we all know where it's going right? -_-
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Re: 08/24/2011 Intraday Watering

Postby 99er » Wed Aug 24, 2011 3:28 pm

SPX
Almost 61.8% of that local high (1207) again. Call it a Double Top?
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Re: 08/24/2011 Intraday Watering

Postby Bencat » Wed Aug 24, 2011 3:28 pm

Cobra wrote: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? :?:
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Re: 08/24/2011 Intraday Watering

Postby Anaconda » Wed Aug 24, 2011 3:31 pm

99er wrote:SPX
Almost 61.8% of that local high (1207) again. Call it a Double Top?


That's my read, too. Crazy low volume run.
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Re: 08/24/2011 Intraday Watering

Postby Cobra » Wed Aug 24, 2011 3:33 pm

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