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02/18/2011 Intraday Watering

02/18/2011 Intraday Watering

Postby Cobra » Fri Feb 18, 2011 10:03 am

Flat open, so any gap will be filled and today most likely a range day plus option expiration should be up and down up and dowm mess, so difficult to trade. Experienced traders may skip today. The next week also suppose to be bearish. The chart by the way looks not bad, seems another base and breakout setup on going so I don't find it bearish at all.
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Re: 02/18/2011 Intraday Watering

Postby Forevergreen » Fri Feb 18, 2011 10:05 am

Morning
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Re: 02/18/2011 Intraday Watering

Postby chickencoop » Fri Feb 18, 2011 10:05 am

good morning
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Re: 02/18/2011 Intraday Watering

Postby slcgh » Fri Feb 18, 2011 10:09 am

Good morning!
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Re: 02/18/2011 Intraday Watering

Postby simpletrader » Fri Feb 18, 2011 10:16 am

Cobra wrote:Flat open, so any gap will be filled and today most likely a range day plus option expiration should be up and down up and dowm mess, so difficult to trade. Experienced traders may skip today. The next week also suppose to be bearish. The chart by the way looks not bad, seems another base and breakout setup on going so I don't find it bearish at all.


From the book "the cat in the hat", the game is called "up up up with a fish"
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Re: 02/18/2011 Intraday Watering

Postby 99er » Fri Feb 18, 2011 10:19 am

Morning!
Nice day to be a bear.
EURUSD: http://99ercharts.blogspot.com/2011/02/eurusd_18.html
And it's a 1, a 2 and a 1, 2, 3.
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Re: 02/18/2011 Intraday Watering

Postby markyuan81 » Fri Feb 18, 2011 10:23 am

MORNING
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Re: 02/18/2011 Intraday Watering

Postby 99er » Fri Feb 18, 2011 10:24 am

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Re: 02/18/2011 Intraday Watering

Postby 99er » Fri Feb 18, 2011 10:26 am

Dow Futures
So will the Wolfe Wave work?
http://99ercharts.blogspot.com/2011/02/ym_18.html
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Re: 02/18/2011 Intraday Watering

Postby pezhead9000 » Fri Feb 18, 2011 10:29 am

MrTopstep: The market are still trending higher. Is it possible we see some profit taking going into the long weekend? Its quit possible but the overall
tone and price action remain the same. As we stated earlier in the week; one of the PIT BULLs rules we follow is to not fight the trend and to us that means buying weakness. KEEP AN EYE ON THE 10 HANDLE rule and USE STOPS.
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Re: 02/18/2011 Intraday Watering

Postby cletus » Fri Feb 18, 2011 10:29 am

All rectangles are the same height -- this is the size of some sharp rallies without a major pullback. Can't believe this will go on much longer without a 5-10% pullback http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=20&mn=0&dy=0&id=p09386496005&a=210657113
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Re: 02/18/2011 Intraday Watering

Postby Cobra » Fri Feb 18, 2011 10:33 am

Opening, intial support.
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Re: 02/18/2011 Intraday Watering

Postby Cobra » Fri Feb 18, 2011 10:38 am

Could be very boring day. Here's bigger picture, a perfect Rising Wedge (as both side are 3 point validated).
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Re: 02/18/2011 Intraday Watering

Postby cletus » Fri Feb 18, 2011 10:47 am

VIX again acting weird. I don't understand how it can move 6% up and down in 5 minutes
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Re: 02/18/2011 Intraday Watering

Postby Cobra » Fri Feb 18, 2011 10:49 am

cletus wrote:All rectangles are the same height -- this is the size of some sharp rallies without a major pullback. Can't believe this will go on much longer without a 5-10% pullback http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=20&mn=0&dy=0&id=p09386496005&a=210657113


Don't remember where I saw, the current rally can only matched by 1920s somthing. Cannot find the chart now.

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Re: 02/18/2011 Intraday Watering

Postby auger » Fri Feb 18, 2011 10:51 am

cletus wrote:VIX again acting weird. I don't understand how it can move 6% up and down in 5 minutes


OPEX ;)
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Re: 02/18/2011 Intraday Watering

Postby cletus » Fri Feb 18, 2011 11:01 am

Reasons today could be a turn date:

1) OPEX days are often turn dates
2) Full moon today
3) Spiral dates has today as the highest score in Feb.

Now whether this is a bottom or a top, clearly the market is rising into it so more likely to be a top, but sometimes it's difficult to tell until after the fact

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Re: 02/18/2011 Intraday Watering

Postby Cobra » Fri Feb 18, 2011 11:03 am

Back to range high, could be another breakout, after that better a consolidation of something, otherwise I'd doubt the validity because it simply travells too long to breakout. Or a little consolidation here before the breakout is even better.
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Re: 02/18/2011 Intraday Watering

Postby Dow Trader » Fri Feb 18, 2011 11:05 am

Copra,
regarding the chart of 1920, if I remeber correctly, the initial rebound was around 60% and I think we are at 65% or so at 1240 and here are some links that may help:
http://newsusa.myfeedportal.com/showitem.php?itemid=171
http://a.imageshack.us/img683/4879/dow1930todow2010.png
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Re: 02/18/2011 Intraday Watering

Postby Cobra » Fri Feb 18, 2011 11:07 am

Dow Trader wrote:Copra,
regarding the chart of 1920, if I remeber correctly, the initial rebound was around 60% and I think we are at 65% or so at 1240 and here are some links that may help:
http://newsusa.myfeedportal.com/showitem.php?itemid=171
http://a.imageshack.us/img683/4879/dow1930todow2010.png


Thanks. The period I mentioned could be 30s or something where stock market rose 100%. The 3rd instance in history.

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