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09/08/2011 Intraday Watering

Re: 09/08/2011 Intraday Watering

Postby uempel » Thu Sep 08, 2011 2:59 pm

Check orange gridline. Tons of bearish bets now, and I guess (?) bulls will attack. But it's a wild guess and I'm betting on it.
SPX18.png
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Re: 09/08/2011 Intraday Watering

Postby MajorEasy » Thu Sep 08, 2011 3:03 pm

AK84 wrote:Cobra,

Any thoughts on tomorrow ? just trying to position and anticipate ....more likely down due to the selling pressure today and hit resistance at 1205 to form right shoulder on 60 min?
Thanks.


my 2 cents,
down tomorrow,
entertainment only!!!
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the market's goal is to distribute the wealth of many to as few hands as possible
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Re: 09/08/2011 Intraday Watering

Postby 99er » Thu Sep 08, 2011 3:05 pm

RUT
Update.
http://99ercharts.blogspot.com/2011/09/rut_08.html

Down towards the neckline.
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Re: 09/08/2011 Intraday Watering

Postby agnosia » Thu Sep 08, 2011 3:08 pm

bears win this round. i am stopped out.. not risking any more capital today. good luck guys
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Re: 09/08/2011 Intraday Watering

Postby Tabby » Thu Sep 08, 2011 3:09 pm

99er wrote:RUT
Update.
http://99ercharts.blogspot.com/2011/09/rut_08.html

Down towards the neckline.

99 EmeRgency,
Let's sing "Amazing Grace."
Everything will be Otay. :mrgreen:
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Re: 09/08/2011 Intraday Watering

Postby Cobra » Thu Sep 08, 2011 3:14 pm

descending triangle breakdown, tinted area as text book target.
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Re: 09/08/2011 Intraday Watering

Postby Al_Dente » Thu Sep 08, 2011 3:15 pm

Dear Cobra:
You called it yesterday. Whenever you say Chi Oscillator is too high on 60min, I wake up.
You da man.... again
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Re: 09/08/2011 Intraday Watering

Postby 99er » Thu Sep 08, 2011 3:19 pm

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Re: 09/08/2011 Intraday Watering

Postby JustTrading » Thu Sep 08, 2011 3:19 pm

Cobra,

Given today's action, do you still think more up before restest of lows....at which price would you say the more up chance is eliminated....for example if s&p breaks down below...??? Thanks for your opinion.
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Re: 09/08/2011 Intraday Watering

Postby janez » Thu Sep 08, 2011 3:22 pm

With OB's speech tonight, will we open up tomorrow? I got in some shorts today, now wonder whether to keep till tomorrow. ALl longs stopped.
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Re: 09/08/2011 Intraday Watering

Postby KENA » Thu Sep 08, 2011 3:22 pm

99er wrote:Quote of the Day

"What a dunce."

http://globaleconomicanalysis.blogspot. ... -weak.html


Ya..and he is one of our leaders.
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Re: 09/08/2011 Intraday Watering

Postby StrikePrice » Thu Sep 08, 2011 3:24 pm

Cobra wrote:descending triangle breakdown, tinted area as text book target.


I liked the wedge better. Covered my short. I think "yes we can" is still in play...
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Re: 09/08/2011 Intraday Watering

Postby Cobra » Thu Sep 08, 2011 3:25 pm

JustTrading wrote:Cobra,

Given today's action, do you still think more up before restest of lows....at which price would you say the more up chance is eliminated....for example if s&p breaks down below...??? Thanks for your opinion.


More up was fulfilled this morning (we had a higher high). so in order for me to say more up, I need more evidences. Now, purely from the chart pattern, it's not bearish, as it could be a Bull flag in the forming on the 60 min chart.
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Re: 09/08/2011 Intraday Watering

Postby JustTrading » Thu Sep 08, 2011 3:27 pm

Thanks for your explanation Cobra....you're the best!!
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Re: 09/08/2011 Intraday Watering

Postby Cobra » Thu Sep 08, 2011 3:30 pm

strong close 3 days in a row? Or the 3rd time is different?
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Re: 09/08/2011 Intraday Watering

Postby uempel » Thu Sep 08, 2011 3:31 pm

Doesn't look that bearish and at the mom I'm still comfortable with my longs...
SPX20.png
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Re: 09/08/2011 Intraday Watering

Postby AK84 » Thu Sep 08, 2011 3:32 pm

uempel wrote:Doesn't look that bearish and at the mom I'm still comfortable with my longs...
SPX20.png


Uempel,

Are you planning on holding on to your longs overnight ?
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Re: 09/08/2011 Intraday Watering

Postby MajorEasy » Thu Sep 08, 2011 3:33 pm

Al_Dente wrote:Dear Cobra:
You called it yesterday. Whenever you say Chi Oscillator is too high on 60min, I wake up.
You da man.... again


thanks to Cobra,
Chaikin Osc has become my fav indicator
(i use slightly faster settings with a trigger line)
http://stockcharts.com/school/doku.php? ... oscillator
the market's goal is to distribute the wealth of many to as few hands as possible
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Re: 09/08/2011 Intraday Watering

Postby StrikePrice » Thu Sep 08, 2011 3:36 pm

uempel wrote:Doesn't look that bearish and at the mom I'm still comfortable with my longs...
SPX20.png


Agree. On the 60min you could say it's a Bull Flag.
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Re: 09/08/2011 Intraday Watering

Postby Al_Dente » Thu Sep 08, 2011 3:37 pm

Paging Champix:

Would you post your CL chart again, sil vous plait.
Thanks in advance.
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