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09/02/2011 Intraday Watering

Re: 09/02/2011 Intraday Watering

Postby pady » Fri Sep 02, 2011 2:25 pm

jarbo456 wrote:for anyone fairly new out there, i'm a good example of what happens when you over-trade your account. held 20 SPY puts into this morning, up 4k to start the day.... john


Hi John,

Since you said your target is 1k a day what is the kind of money you are trading with ? 1k a day is a cool target to achieve.

Thx

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Re: 09/02/2011 Intraday Watering

Postby Rezito » Fri Sep 02, 2011 2:26 pm

fehro wrote:Newbie to this site. Legit pattern? Could lead to a very ugly Tuesday.


Whatever happened to make the markets green before a long weekend so the retailers can have some good revenues over the weekend thing?
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Re: 09/02/2011 Intraday Watering

Postby heavenskrow » Fri Sep 02, 2011 2:30 pm

All I have to say is dont try to pick bottoms today.... and to those who werent short from Wednesday...im sorry for u :D
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Re: 09/02/2011 Intraday Watering

Postby heavenskrow » Fri Sep 02, 2011 2:34 pm

WTF I DO NOT UNDERSTAND SILVERS RALLY TODAY!!! IS silver now acting as a safe haven??? Even when the dollar is starting to breakout??
(I understand silver and golds fundamental long term....but dont understand this intermarket move currently....)
Sitting here stumped......
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Re: 09/02/2011 Intraday Watering

Postby cougar » Fri Sep 02, 2011 2:35 pm

Hello Alpha_M & AK 84: Well…I think that, sometimes, some fortuitous technical observations can help us improve the “timing” of trades.
Here is PPO 30 min, a chart which indicated, based on a previous observation, that QQQ should follow PPO on its way down. I also mentioned that here on Aug 31, when I posted this signal. I would not have shorted QQQ only on this basis…but it was helpful.

Have a great weekend!
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Re: 09/02/2011 Intraday Watering

Postby biotrader » Fri Sep 02, 2011 2:35 pm

fehro wrote:Newbie to this site. Legit pattern? Could lead to a very ugly Tuesday.



IMO more of a rounded top.
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Re: 09/02/2011 Intraday Watering

Postby ramram » Fri Sep 02, 2011 2:40 pm

Does anyone think wave 4 is done? and we head up on wave 5 to about 1240-1250 range
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Re: 09/02/2011 Intraday Watering

Postby ramram » Fri Sep 02, 2011 2:45 pm

I'll take that as a no. lol
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Re: 09/02/2011 Intraday Watering

Postby hemlock21 » Fri Sep 02, 2011 2:47 pm

Looking to add to shorts at 1177 if we retrace in next 20 minutes. Otherwise waiting for 1167 to cover
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Re: 09/02/2011 Intraday Watering

Postby heavenskrow » Fri Sep 02, 2011 2:47 pm

^ I don't know too much about Elliot Waves.... my dad who used to be a trader for Solomon Brothers uses it a lot....but I just find it too subjective personally.....
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Re: 09/02/2011 Intraday Watering

Postby soku » Fri Sep 02, 2011 2:48 pm

rumor says ecb is likely to cut rate for 50 bps on 9/8
if it happens, then, what to trade?
The goal is not uniformity. It is understanding and idea exchange.
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Re: 09/02/2011 Intraday Watering

Postby heavenskrow » Fri Sep 02, 2011 2:53 pm

gold?
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Re: 09/02/2011 Intraday Watering

Postby ramram » Fri Sep 02, 2011 2:54 pm

short fxe
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Re: 09/02/2011 Intraday Watering

Postby ramram » Fri Sep 02, 2011 2:55 pm

Hi Hemlock -- why cover at 1167. what target does this represent?
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Re: 09/02/2011 Intraday Watering

Postby Cobra » Fri Sep 02, 2011 2:56 pm

fehro wrote:Newbie to this site. Legit pattern? Could lead to a very ugly Tuesday.


Welcome aboard! :mrgreen:

Although I don't think it's H&S top, the shoulders are just too tiny and given the failure rate of H&S Top/bottom, for bears better this is not H&S top. :lol:

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Re: 09/02/2011 Intraday Watering

Postby Tuna1889 » Fri Sep 02, 2011 2:56 pm

Elliot Wave is like economists. They always agree after the fact but too many possibles for the future. If you put all the economists end to end around the world they would all point in different directions. EW counters are the same way.
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Re: 09/02/2011 Intraday Watering

Postby ramram » Fri Sep 02, 2011 2:59 pm

I agree EW is a guide, another tool in the toolbox, and not a trading strategy.
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Re: 09/02/2011 Intraday Watering

Postby SigmaEcho » Fri Sep 02, 2011 3:01 pm

Cobra wrote:Tinted area as Descending Triangle target.



still looks kinda bullish?
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Re: 09/02/2011 Intraday Watering

Postby parker » Fri Sep 02, 2011 3:02 pm

fsp500 target 1165?????? :cry:
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Re: 09/02/2011 Intraday Watering

Postby Cobra » Fri Sep 02, 2011 3:02 pm

consolidation is no good for bulls here. let's see. pretty slow day though. :roll:
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