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08/26/2011 Intraday Watering

Re: 08/26/2011 Intraday Watering

Postby jaaawf » Fri Aug 26, 2011 3:12 pm

Tough week news wise for TA. We had Buffett and BAC, Earthquake, Jackson Hole Speech, Hurricane. That's an awful lot and I am probably forgetting something. You've navigated it well this week Cobra...thanks!
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Re: 08/26/2011 Intraday Watering

Postby Cobra » Fri Aug 26, 2011 3:14 pm

could be a small H&S top here, target as illustrated. more often then not H&S top/bottom would fail, well, that's my last hope, I'm soooooooo disappointed. Really I am.
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Re: 08/26/2011 Intraday Watering

Postby pablorynx » Fri Aug 26, 2011 3:17 pm

breakdown short, with your green line as stop
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Re: 08/26/2011 Intraday Watering

Postby newbie_77 » Fri Aug 26, 2011 3:17 pm

Cobra wrote:could be a small H&S top here, target as illustrated. more often then not H&S top/bottom would fail, well, that's my last hope, I'm soooooooo disappointed. Really I am.


cobra,
you have done very good.

please do not be disappointed. at least i am getting a great teacher for free :D

today being op-ex for the weekly ( a little bit of manipulation is causing this discrepancy outside of your forcast movement... )
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Re: 08/26/2011 Intraday Watering

Postby Be4chst » Fri Aug 26, 2011 3:18 pm

I Noticed you guys don't follow NASDAQ, however, does anyone are to share their thoughts on why NASDAQ is showing a greater % increase than Dow and s&p?
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Re: 08/26/2011 Intraday Watering

Postby Cobra » Fri Aug 26, 2011 3:19 pm

jaaawf wrote:Tough week news wise for TA. We had Buffett and BAC, Earthquake, Jackson Hole Speech, Hurricane. That's an awful lot and I am probably forgetting something. You've navigated it well this week Cobra...thanks!


thanks. :lol: glad someone paid attention that indeed TA works. News doesn't matter. The reason I'm saying this is someone in my Chinese forum are complaining again that TA doesn't work. Well, everyone knows I'm purely TA and it does work. Tradings on the other hand is different because besides TA, there's a more difficult part which is EMOTION. I still cannot put my emotion away and that's why I'm still poor. :(

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Re: 08/26/2011 Intraday Watering

Postby wower » Fri Aug 26, 2011 3:22 pm

Cobra wrote:
jaaawf wrote:Tough week news wise for TA. We had Buffett and BAC, Earthquake, Jackson Hole Speech, Hurricane. That's an awful lot and I am probably forgetting something. You've navigated it well this week Cobra...thanks!


thanks. :lol: glad someone paid attention that indeed TA works. News doesn't matter. The reason I'm saying this is someone in my Chinese forum are complaining again that TA doesn't work. Well, everyone knows I'm purely TA and it does works. Tradings on the other hand is different because besides TA, there's a more difficult part which is EMOTION. I still cannot put my emotion away and that's why I'm still poor. :(


Second that.
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Re: 08/26/2011 Intraday Watering

Postby fuddleduddle » Fri Aug 26, 2011 3:26 pm

All in all, headfake week galore. You've navigated this week very well, Captain Cobra.
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Re: 08/26/2011 Intraday Watering

Postby KENA » Fri Aug 26, 2011 3:26 pm

All of the indexs are in the green but UTIL has been red all day.Util is the safe harbor where everyone flocks to when they expect a turn to the bad. Someone is selling.Do they know something we don't.It is worth watching.maybe next week will not be very good.We will just have to wait and see.Anyone know any more?????
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Re: 08/26/2011 Intraday Watering

Postby Cobra » Fri Aug 26, 2011 3:26 pm

the bigger picture, it's still bull flag, so maybe we'll see anther push up the next Monday. but the bigger bigger picture it's Triangle and eventually will breakdown. I hope you get the whole picture. Today's action only proves this is just a rebound, not a start of a new bull market.
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Re: 08/26/2011 Intraday Watering

Postby cougar » Fri Aug 26, 2011 3:27 pm

QLD : a ”Pinocchio wave” above the octave seems to have marked the short term top.
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Re: 08/26/2011 Intraday Watering

Postby pablorynx » Fri Aug 26, 2011 3:28 pm

Be4chst wrote:I Noticed you guys don't follow NASDAQ, however, does anyone are to share their thoughts on why NASDAQ is showing a greater % increase than Dow and s&p?



AAPL
MSFT
QCOM
AMZN
EBAY
BIDU

don't forget everyone's favorite momo name GMCR

nasdaq has outperformed the SPX by about 6.3% since mid jun. In the month of august, it's still OPed the SPX by 0.38%, which is mind boggling if you think about the volatility we've had in august. I think it's a function of large cap tech being seen as a safe haven. Clean balance sheets, lots of cash. last couple days have been about AAPL tho.
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Re: 08/26/2011 Intraday Watering

Postby zudec » Fri Aug 26, 2011 3:29 pm

I sold my utilites today b/c they had large installations on east coast. I was worried about nuke trouble or just excessive cost to recover after storm. After Ike, the utilities in gulf coast got hammered with operational losses.
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Re: 08/26/2011 Intraday Watering

Postby pezhead9000 » Fri Aug 26, 2011 3:30 pm

Cobra wrote:the bigger picture, it's still bull flag, so maybe we'll see anther push up the next Monday. but the bigger bigger picture it's Triangle and eventually will breakdown. I hope you get the whole picture. Today's action only proves this is just a rebound, not a start of a new bull market.


message was received: waiting patiently :mrgreen:
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Re: 08/26/2011 Intraday Watering

Postby KENA » Fri Aug 26, 2011 3:30 pm

Be4chst wrote:I Noticed you guys don't follow NASDAQ, however, does anyone are to share their thoughts on why NASDAQ is showing a greater % increase than Dow and s&p?

.AAPLE is the big % for the NAS.This may be why.
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Re: 08/26/2011 Intraday Watering

Postby newbie_77 » Fri Aug 26, 2011 3:34 pm

looks like they will pin the expiration to 118
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Re: 08/26/2011 Intraday Watering

Postby Cobra » Fri Aug 26, 2011 3:34 pm

back testing the neck line, but I won't hope much for bears, yes, that's right, bears. H&S RARELY works, so I'm not surprised a strong rebound till the close especially I closed all my day longs because I was so disappointed. The market usually turns when I close all, just to make me more upset. :(
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Re: 08/26/2011 Intraday Watering

Postby Be4chst » Fri Aug 26, 2011 3:36 pm

Thought I'll contribute:
Today's volume in NASDAQ and S&P are both lower than yesterday's. Strictly from a price and volume perspective up days with low volume don't exhibit strength. I'm still holding on to my position in SQQQ.
Just my 2 cents.
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Re: 08/26/2011 Intraday Watering

Postby Cobra » Fri Aug 26, 2011 3:36 pm

multiple resistances here, but I won't count on it.
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Re: 08/26/2011 Intraday Watering

Postby Tabby » Fri Aug 26, 2011 3:37 pm

Anyone wants to bet on oil?
If hurrican affects oil refineriers productions due to shut down, could shut down affect oil prices and stocks? Do we have oily people?
BTW Cobra, you have not saying ole, ole,ole lately.
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