08/29/2011 Intraday Watering

[cougar]

I rather see a consolidation here, which might be bullish. When THEY take the market up “in force” they usually do not give to the outsiders a chance to buy the dip! Vol. is not important in such situations…only price…for a while…

[mac769]

... a nice butterfly from the DAX, flying away from the grounds:

http://img64.imageshack.us/img64/1381/capturelin.png

[BullBear52x]

Very critical juncture, sit on my hands

[Cobra]

tinted area as Measured Move target, looks like we'll be there.

[babaro22]

I have reasons to believe that the current mini-rally is going to stop around 1,215

http://babaro22.blogspot.com/

[Bencat]

tinted area as Measured Move target, looks like we'll be there.

Yes, we'll be there soon. and after that? pull back first?

[uempel]

tinted area as Measured Move target, looks like we'll be there.

Yeah, makes sense. The big zigzag reaches up to 1230, and (presumably) that's too high. I'm going to short somewhere between 1205/1212 because I've been blabbering about it for days. It's always difficult to implement an idea when the market does exactly as anticipated.... High risk, but I'm not going to give much leeway if the market goes against me

[Mongoose]

Greetings everyone. New to the group.
Cobra, thank you for a great website.

[pady]

Hi everyone. New to group. Thanks cobra.

[MajorEasy]

info only,
i received a PM the other day asking how i'm able to manage my high frequency style of trading....
tradestation's Matrix makes it all possible .....
it's soo fast i can round trip a position in 5 to 20 seconds with a nice profit scalp..
the big guys (generals) can't make one of their 500 hundred contract buys or sells without moving the market,
three quarters to a full point.... this makes scalping easy and consistantly profitable....
just don't be too greedy!!!

[Cobra]

nothing to say, like I said, huge up from opening is like no gravity which is very difficult since we're on Earth. Now consolidate instead of pullback to overcome the gravity is good for bulls. Let's wait to see after a rest if bulls can make a breakout eventually.

[AK84]

tinted area as Measured Move target, looks like we'll be there.

Yeah, makes sense. The big zigzag reaches up to 1230, and (presumably) that's too high. I'm going to short somewhere between 1205/1212 because I've been blabbering about it for days. It's always difficult to implement an idea when the market does exactly as anticipated.... High risk, but I'm not going to give much leeway if the market goes against me

A lot of daily charts have already have or are close to having a bullish crossover on the MACD. However, im seeing a lot of overhead resistance as you say and slow stoch is getting up into the overbought territory. Could go sidways for a few days to work off the overbought conditions but overall I think cobra is right, we are going down hard to test Aug 9 lows. 1215 looks like a tough one to crack forsure!

[Cobra]

the problem I see here is ChiOsc is too high plus the price itself still looks too stretched.

[Cobra]

Hi everyone. New to group. Thanks cobra.

welcome aboard!

[AK84]

Btw...lets also not forget that today is a very very low volume day and the market is driven up mainly by the autobots. NYSE and NASDAQ are open for business but a lot of traders are unable to come into work today so mainly automated trading. Take it with a grain of salt

[Cobra]

H2 on EMA20, hopefully it'd bring us back to the day high.

[Alpha_M]

Btw...lets also not forget that today is a very very low volume day and the market is driven up mainly by the autobots. NYSE and NASDAQ are open for business but a lot of traders are unable to come into work today so mainly automated trading. Take it with a grain of salt

Ru also a BOT??? I am scared of these machinezzzz these days....they tend to take all my money and ....RUNNNNNNNNNNNNNNN

[AK84]

Btw...lets also not forget that today is a very very low volume day and the market is driven up mainly by the autobots. NYSE and NASDAQ are open for business but a lot of traders are unable to come into work today so mainly automated trading. Take it with a grain of salt

Ru also a BOT??? I am scared of these machinezzzz these days....they tend to take all my money and ....RUNNNNNNNNNNNNNNN

Maybe an Autobot like from transformerzzzzz. Hide yo kidzz, hide yo carzzz, hide yo wife and most importantly, hide your....?? CA$$$$$$$HHHHHHHHHHH

[jarbo456]

morning guys. late start - was stuck in philadelphia this weekend.

looks like lemonade to me...shorts being squeezed some more.

[AK84]

Does anyone know when part of Greece's debt payment is due ? Wasnt it supposed to be end of this month ??? Wonder if this is a fake out in case they cannot pay .....who knowzzzzz~~~