08/26/2011 Intraday Watering

[Cobra]

cobra, what is ur take on gold. I have a position and I don't understand the tap at all it this morning.

the trend is still up. not sure if the pullback is over or not.

[99er]

Believe it's a head fake. We had one yesterday too.

[cougar]

Yes, Anaconda, I agree...But in the post-“Bernank breakfast“ atmosphere...one has to get a new feeling of timing and "what THEY want"...My stocks long positions are now doing well...We shall see.

[grachu]

cobra your overall feeling is that we are testing the lows 110 104 ? CONSIDERING THAT SEP IS REALLY BEARISH ON SEPT makes it more probably in your opinion?

[shumushu]

cobra, what is ur take on gold. I have a position and I don't understand the tap at all it this morning.

Gold is like an ECG today. It's like it doesn't know where it wants to go.

Given the sharp down the last couple of days seems like there will be more selling later. Rumour of more margin hikes are ahead. Might fill the recent gap.

Thanks, I don't know what gold is doing.

[Cobra]

cobra your overall feeling is that we are testing the lows 110 104 ? CONSIDERING THAT SEP IS REALLY BEARISH ON SEPT makes it more probably in your opinion?

we're going to breakdown below Aug 9 lows, but for now, my bias is up for today.

[99er]

cougar

Note the location of the daily RUT candle; it's in a back test.

http://99ercharts.blogspot.com/2011/08/rut.html

[cougar]

The “short IWM” overnight trade in retrospect:
To stay in that trade, I was helped by two bearish factors:
1: the “snake-ish” bearish triangle, first noticed by Cobra for SPY, yesterday;
2: the 100% extension target, which was not reached yet at close
=========
To trade, I actually bought TZA repeatedly, as indicated on chart.

[simpletrade]

cobra your overall feeling is that we are testing the lows 110 104 ? CONSIDERING THAT SEP IS REALLY BEARISH ON SEPT makes it more probably in your opinion?

we're going to breakdown below Aug 9 lows, but for now, my bias is up for today.

One more push up today after this dip? Does it always end with 3rd push up, now we have 2 from this morning's low.

[cougar]

cougar

Note the location of the daily RUT candle; it's in a back test.

http://99ercharts.blogspot.com/2011/08/rut.html

Yes, thanx, 99er!

[BullBear52x]

bears got an upper hand in term of LL/LH&HH/HL view shorterm.

[q2model]

cobra your overall feeling is that we are testing the lows 110 104 ? CONSIDERING THAT SEP IS REALLY BEARISH ON SEPT makes it more probably in your opinion?

we're going to breakdown below Aug 9 lows, but for now, my bias is up for today.

Do you mind sharing the reason why you think the 8/9 low would be revisited? Thanks

[Al_Dente]

cobra, what is ur take on gold. I have a position and I don't understand the tap at all it this morning.

Last night an "expert" on Fast Money said he thinks this is not a crash in gold because the gold volatility doesn't show enough fear yet (compared to the high-fear vol on silver when it crashed earlier this year.)

DOES ANYONE KNOW HOW TO TRACK GOLD VOLATILITY??

[99er]

cougar

Volpaccino--and its breakfasts--has more than made up for its cost I'm sure.

What a platform!

[jarbo456]

bullish machines seem to insist on squeezing the crap out of us.

[Cobra]

I don't think this breakout will hold (pullback or consolidation here) but maintain we're up, targeting yesterday's high.

[MajorEasy]

this is my fav long term chart, it's a 30K tick bar = about a 30 minute on the continuous contract
i also use a short term and medium term chart
it's green line sometimes acts as support, while the red dotted line acts as resistance...
the last 8 trading days are shown.

[Cobra]

the breakout not holding as I said, right? Now let's see how pullback goes. The pullback, generally shall fail and we'll have at least another push up.

[99er]

SPX
Update.
http://99ercharts.blogspot.com/2011/08/spx_1647.html

[KENA]

Wild day..Time for work out..Can't take all this excitement.Back later.