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08/31/2011 Intraday Watering

Re: 08/31/2011 Intraday Watering

Postby soku » Wed Aug 31, 2011 1:57 pm

soku wrote:
soku wrote:
soku wrote:i think i see 1 of cobra's most favorite pattern, head and shoulders? :D

1218.5 is my 1st target of h&s. since this is multi-shoulder pattern, it could be stage 2

add: i guess it becomes me and myself again. i think stage 2 is coming. my target is 1213.5 as discussed above 11:33

i missed 1 thing. 1218 was yesterday high. i underestimate the stubbornness of bulls. :D let's see.
i will be out for a lunch meeting. hold the fort guys.

add: fancy chart

this is damn slow. me back from lunch and es still at the same place? :(
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Re: 08/31/2011 Intraday Watering

Postby Cobra » Wed Aug 31, 2011 1:58 pm

key time, Measured Move target, info only.
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Re: 08/31/2011 Intraday Watering

Postby uempel » Wed Aug 31, 2011 1:59 pm

ClarkW wrote:Cobra,
Would be awesome if you could post some of your favorite trading books one night.

Thanks for everything you do!


Ok, we're going to lunch late at 14.15 pm so I might as well write down my favorites:

These two are mandatory, no TA trading without reading both!

John Murphy, Technical Analysis of the Financial Markets
Martin Pring, Technical Analysis explained

Boring but interesing and important:

John Murphy, Intermarket Technical Analysis

Important, interesting, fun:

Louise Yamanda, Market Magic
Victor Niederhoffer, The Education of a Speculator

Very important, not specifically TA:

Carmen Reinhart and Kenneth Rogoff, This Time is Different (Very, very relevant now!)
Peter Bernstein, Against the Gods
Peter Bernstein, The Story of Gold

Behavioural:

Charles Ellis, Winning the Losers Game (important book)
Gary Belsky and Thomas Gilovich, Why Smart People make Big Money Mistakes

Very important, historical:

Charles Kindleberger, Manias, Panics, Crashes (important book)
Charles Geisst, Wallstreet, a History

Historical and vrey sad:
Jesse Livermore, How to Trade Stocks

I'm off now, bye guys :D
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Re: 08/31/2011 Intraday Watering

Postby Cobra » Wed Aug 31, 2011 2:01 pm

uempel wrote:
ClarkW wrote:Cobra,
Would be awesome if you could post some of your favorite trading books one night.

Thanks for everything you do!


Ok, we're going to lunch late at 14.15 pm so I might as well write down my favorites:

These two are mandatory, no TA trading without reading both!

John Murphy, Technical Analysis of the Financial Markets
Martin Pring, Technical Analysis explained

Boring but interesing and important:

John Murphy, Intermarket Technical Analysis

Important, interesting, fun:

Louise Yamanda, Market Magic
Victor Niederhoffer, The Education of a Speculator

Very important, not specifically TA:

Carmen Reinhart and Kenneth Rogoff, This Time is Different (Very, very relevant now!)
Peter Bernstein, Against the Gods
Peter Bernstein, The Story of Gold

Behavioural:

Charles Ellis, Winning the Losers Game (important book)
Gary Belsky and Thomas Gilovich, Why Smart People make Big Money Mistakes

Very important, historical:

Charles Kindleberger, Manias, Panics, Crashes (important book)
Charles Geisst, Wallstreet, a History

Historical and vrey sad:
Jesse Livermore, How to Trade Stocks

I'm off now, bye guys :D


wow, thanks pal!

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Re: 08/31/2011 Intraday Watering

Postby Petsamo » Wed Aug 31, 2011 2:02 pm

Twitter @jackwag0n
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Re: 08/31/2011 Intraday Watering

Postby Anaconda » Wed Aug 31, 2011 2:05 pm

New LOD on SPY.
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Re: 08/31/2011 Intraday Watering

Postby soku » Wed Aug 31, 2011 2:10 pm

uempel wrote:
ClarkW wrote:Cobra,
Would be awesome if you could post some of your favorite trading books one night.

Thanks for everything you do!


Ok, we're going to lunch late at 14.15 pm so I might as well write down my favorites:

These two are mandatory, no TA trading without reading both!
... ...

this is a huge list. all long all mandatory, all important :D
can u summarize them? let's say a 1 page holy grail? :mrgreen:
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Re: 08/31/2011 Intraday Watering

Postby varaamo » Wed Aug 31, 2011 2:11 pm

cougar,

What is your charting platform? and where do you get all these indicators such as
waves and fans, etc.. Also, can you please advise as to where can one learn about them?

Many Thanks in advance,
P.S. Always respect your analysis. wish i could learn some of these golden nuggets of infomation.



cougar wrote:SPX 2 Fans
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Re: 08/31/2011 Intraday Watering

Postby uempel » Wed Aug 31, 2011 2:13 pm

A last chart, then I'm off. I'll exit at about 1209 or 1210, don't want to be caught in a bear-trap...
SPX1215.png
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Re: 08/31/2011 Intraday Watering

Postby Cobra » Wed Aug 31, 2011 2:15 pm

still nothing to say, just all of sudden, my TA world makes sense again. :lol: just don't the market rise immediately after I said this, that'd be awkward. :mrgreen:
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Re: 08/31/2011 Intraday Watering

Postby Cobra » Wed Aug 31, 2011 2:16 pm

soku wrote:
uempel wrote:
ClarkW wrote:Cobra,
Would be awesome if you could post some of your favorite trading books one night.

Thanks for everything you do!


Ok, we're going to lunch late at 14.15 pm so I might as well write down my favorites:

These two are mandatory, no TA trading without reading both!
... ...

this is a huge list. all long all mandatory, all important :D
can u summarize them? let's say a 1 page holy grail? :mrgreen:


I like 1 page holy grail. Better just one word. :lol:

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Re: 08/31/2011 Intraday Watering

Postby jaaawf » Wed Aug 31, 2011 2:17 pm

Just a thought Cobra, you may want to post the book list to the "Getting Start" thread. I bet others ask and I know several of them are very good (I've read about 2/3s of them) so I trust Uempel on the others.
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Re: 08/31/2011 Intraday Watering

Postby AK84 » Wed Aug 31, 2011 2:21 pm

sometimes taking a walk and not watching the market almost suck u out of ur puts and hit ur stops is good!! RESPECT ME I SAY !!!! :twisted:
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Re: 08/31/2011 Intraday Watering

Postby Cobra » Wed Aug 31, 2011 2:21 pm

jaaawf wrote:Just a thought Cobra, you may want to post the book list to the "Getting Start" thread. I bet others ask and I know several of them are very good (I've read about 2/3s of them) so I trust Uempel on the others.


OK. Thanks.

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Re: 08/31/2011 Intraday Watering

Postby Ninja Trader » Wed Aug 31, 2011 2:24 pm

the Martin Pring book is a good suggestion, he has another one that is about trading psychology, I can't recall exact title as my copy is at home, it's a yellow and green lettered cover I believe but Pring is the author.

I'd suggest that all traders should read it

I find I learn even more about how to navigate markets properly in reading books like that versus an Edwards and Magee where you are really grinding down on patterns or a book like New Trading Systems and Methods where you are really drilling in on mechancial systems

it's the emotions that are the hardest thing to master in my opinion
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Re: 08/31/2011 Intraday Watering

Postby AK84 » Wed Aug 31, 2011 2:25 pm

AAPL has been showing the direction from almost 2 days ago and particularly yesterday! it stalled at 391 2 days ago when I exited my calls!

Please dont rise now Mr. Market. You will make a mockery of me otherwise :shock:
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Re: 08/31/2011 Intraday Watering

Postby BillyRipken » Wed Aug 31, 2011 2:32 pm

Cobra I believe your zig zag up target was HOD
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Re: 08/31/2011 Intraday Watering

Postby soku » Wed Aug 31, 2011 2:33 pm

is it over yet? i don't think so. this market is a little bit strange. all i can say is to play small play nimble.
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Re: 08/31/2011 Intraday Watering

Postby Cobra » Wed Aug 31, 2011 2:36 pm

BillyRipken wrote:Cobra I believe your zig zag up target was HOD


if Open > Close or red today would be perfect for a very short-term bear play (not for novices of course), as I really find it's hard to believe NYMO and T2122 can go even higher tomorrow.

Statistically, green today, that'd be 4 days up while under MA200, short at today's close, cover when SPY above MA5, 68% chances according to TradingMarkets.

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Re: 08/31/2011 Intraday Watering

Postby cougar » Wed Aug 31, 2011 2:37 pm

varaamo wrote:cougar,

What is your charting platform? and where do you get all these indicators such as
waves and fans, etc.. Also, can you please advise as to where can one learn about them?

Many Thanks in advance,
P.S. Always respect your analysis. wish i could learn some of these golden nuggets of infomation.



cougar wrote:SPX 2 Fans


“varaamo”: Thank you for you interest…I would also take this opportunity to answer an older PM that you sent me, and that my “anti-spam & virus” placed in a spam file, for some obscure reason…I found it only very recently. Some other PM were apparently lost…
Anyway.. If I remember correctly, you were asking about the “levels” on one of my charts. Those were Murrey Math levels, where each level = 1/8 of a certain finished trend or “wave” They were derived from the teachings of Gann. A 5 levels non-stop advance or drop, requires, according to the TA folklore, a correction in the opposite direction.
My charts are my own products; I had better results with stuff that I calculate and draw myself, since I understand its limits or weaknesses. The platform that I use is “Trade Station” which is quite OK. It has a so-called “Easy Language” way of programming your own indicators.
The books recommended by Uempel are excellent. I them you will find the explanations for most indicators that we are using here. Good Luck with your trades!
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