Back to www.cobrasmarketview.com

   

09/14/2011 Intraday Watering

09/14/2011 Intraday Watering

Postby Cobra » Wed Sep 14, 2011 9:07 am

Gap up along the yesterday's high so hard to guess whether we'll have a trend day or boring day. Global ES only proves what I said last night, SO FAR, the rebound is the weakest because the 3 pushes we have obviously are overlapping, this NORMALLY doesn't look like a start of a new bull. You also can compare the rebound from 09/06 to 09/07, it was a straight up, look at what we have now, it's obvious, isn't it?
Attachments
1.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 44795
Joined: Sat Feb 12, 2011 10:29 pm

Re: 09/14/2011 Intraday Watering

Postby 99er » Wed Sep 14, 2011 9:10 am

Good Morning.

So honey...are you reviewing your phrase book?
EURUSD http://99ercharts.blogspot.com/2011/09/eurusd_14.html

"Ou est le W.C.?"
User avatar
99er
 
Posts: 3686
Joined: Mon Feb 14, 2011 3:43 pm

Re: 09/14/2011 Intraday Watering

Postby 99er » Wed Sep 14, 2011 9:11 am

User avatar
99er
 
Posts: 3686
Joined: Mon Feb 14, 2011 3:43 pm

Re: 09/14/2011 Intraday Watering

Postby champix » Wed Sep 14, 2011 9:13 am

99er wrote:Good Morning.

So honey...are you reviewing your phrase book?
EURUSD http://99ercharts.blogspot.com/2011/09/eurusd_14.html

"Ou est le W.C.?"


Hooney, hooney... "Ou sont les W.C.?" :mrgreen: :mrgreen:
User avatar
champix
 
Posts: 551
Joined: Thu Apr 14, 2011 9:13 am
Location: PARIS

Re: 09/14/2011 Intraday Watering

Postby Petsamo » Wed Sep 14, 2011 9:18 am

Bookoo resistance here, fellas!

Image
Twitter @jackwag0n
User avatar
Petsamo
 
Posts: 3339
Joined: Thu Jun 30, 2011 2:22 pm

Re: 09/14/2011 Intraday Watering

Postby cougar » Wed Sep 14, 2011 9:19 am

I did not think that they would gap above my IWM “target/reversal”, in the present market conditions…but they will!
Yes, we can!
Attachments
REVgif.GIF
cougar
 
Posts: 1914
Joined: Fri May 20, 2011 9:25 am

Re: 09/14/2011 Intraday Watering

Postby Speculator » Wed Sep 14, 2011 9:19 am

Cobra wrote:Gap up along the yesterday's high so hard to guess whether we'll have a trend day or boring day. Global ES only proves what I said last night, SO FAR, the rebound is the weakest because the 3 pushes we have obviously are overlapping, this NORMALLY doesn't look like a start of a new bull. You also can compare the rebound from 09/06 to 09/07, it was a straight up, look at what we have now, it's obvious, isn't it?


While it may not be a new "bull" trend, it may be the beginning of a sideways consolidation with several months of range trading in which we do not take out the low established in August. A new "bull" trend would then take off from the final low in that sideways trend from about this same level. Given the negative sentiment, this seems an even odds possibility against the probability of a new low before the end of the year.
Speculator
 
Posts: 2
Joined: Thu Feb 17, 2011 7:12 pm

Re: 09/14/2011 Intraday Watering

Postby dr659 » Wed Sep 14, 2011 9:22 am

Anyone know what happened to Shankystechblog?
dr659
 
Posts: 318
Joined: Thu Feb 17, 2011 4:53 pm

Re: 09/14/2011 Intraday Watering

Postby stucap » Wed Sep 14, 2011 9:22 am

Cobra wrote:Gap up along the yesterday's high so hard to guess whether we'll have a trend day or boring day. Global ES only proves what I said last night, SO FAR, the rebound is the weakest because the 3 pushes we have obviously are overlapping, this NORMALLY doesn't look like a start of a new bull. You also can compare the rebound from 09/06 to 09/07, it was a straight up, look at what we have now, it's obvious, isn't it?


I couldn't agree with you more, cobra. But, I still think the bulls will take a shot at the 1185 gap before they give up. I'm looking for some selling at the bell to close any gap made this morning and then a push up to at least challenge the overnight high on the ES at 1176ish and only a few points more to get to 1185 (cash). Then, we'll see if the bears want to wake up again --- or if they want to suffer a squeeze up higher.

Just my thoughts.....after seeing zero conviction on the "dark" side after the 830 eco data.
Last edited by stucap on Wed Sep 14, 2011 9:25 am, edited 1 time in total.
stucap
 
Posts: 994
Joined: Thu Jul 14, 2011 12:25 pm

Re: 09/14/2011 Intraday Watering

Postby q2model » Wed Sep 14, 2011 9:22 am

Today's Economic Calendar
8.30 PPI (est. -0.1% m/m, 6.4% y/y)

Core PPI (est 0.2% m/m, 2.6% y/y)

Retail sales (0.3% m/m)

Retail sales ex autos (0.4% m/m)

Core retail sales (0.4% m/m)

10.00 Business inventories (0.6% m/m)

10.30 DOE Inventory Data
Crude Oil – est -3,000k, last week -3,963k

Gasoline – est -500k, last week 199k

Distillate – est 700k, last week 709k
Refinery Utilization – est -0.85%, last week -0.20%

12.00 Merkel and Sarkozy’s call with Papandreou
q2model
 
Posts: 334
Joined: Tue Feb 15, 2011 10:54 am

Re: 09/14/2011 Intraday Watering

Postby Al_Dente » Wed Sep 14, 2011 9:23 am

Morning all.

Interesting…. now that I’m fixating on short interest implications, I find the folks over at zero reporting after the close yest a potential “Epic Squeeze” in BAC because of their high short interst. In classic Tyler hyperbole, he opines that BAC is now “...overdue for another massive ripfest [rally] before it's lights out [decline]. Guaranteed...”

You gotta love him, even if you hate him.

http://www.zerohedge.com/news/nyse-shor ... ica-shares

If you can’t handle Tyler, here’s a direct link to the NYSE short report released YESTERDAY after close (I erroneously expected it due on 15th).

http://www.nyse.com/press/1315833921149.html
User avatar
Al_Dente
 
Posts: 23104
Joined: Thu Jul 21, 2011 2:29 pm

Re: 09/14/2011 Intraday Watering

Postby Mongoose » Wed Sep 14, 2011 9:24 am

Here is an example of the CDS market frontrunning an event -- pricing a 98% probability of a Greek default -- which equities are ignoring.

http://www.alsosprachanalyst.com/econom ... pdate.html

The last time equities ignored such signals was back in 2008 which Paulson was too happy to take advantage of.
Mongoose
 
Posts: 148
Joined: Sun Aug 28, 2011 4:49 am

Re: 09/14/2011 Intraday Watering

Postby Tutti » Wed Sep 14, 2011 9:24 am

Just wanted to pop in and introduce myself. While I don't day trade, I enjoy your nightly and intra-day work Cobra. It has saved me from taking a position near reversals that I would not have seen otherwise. Many thanks.

Ciao.

Tutti
User avatar
Tutti
 
Posts: 565
Joined: Tue Sep 13, 2011 9:19 am
Location: New York

Re: 09/14/2011 Intraday Watering

Postby 99er » Wed Sep 14, 2011 9:25 am

User avatar
99er
 
Posts: 3686
Joined: Mon Feb 14, 2011 3:43 pm

Re: 09/14/2011 Intraday Watering

Postby stucap » Wed Sep 14, 2011 9:27 am

Mongoose wrote:Here is an example of the CDS market frontrunning an event -- pricing a 98% probability of a Greek default -- which equities are ignoring.

http://www.alsosprachanalyst.com/econom ... pdate.html

The last time equities ignored such signals was back in 2008 which Paulson was too happy to take advantage of.


Don't you know that the bond market is always wrong....... :mrgreen:
stucap
 
Posts: 994
Joined: Thu Jul 14, 2011 12:25 pm

Re: 09/14/2011 Intraday Watering

Postby StrikePrice » Wed Sep 14, 2011 9:28 am

Cobra wrote:Gap up along the yesterday's high so hard to guess whether we'll have a trend day or boring day. Global ES only proves what I said last night, SO FAR, the rebound is the weakest because the 3 pushes we have obviously are overlapping, this NORMALLY doesn't look like a start of a new bull. You also can compare the rebound from 09/06 to 09/07, it was a straight up, look at what we have now, it's obvious, isn't it?


I think the /ES reacts to what Asian and European markets are doing, so I don't think the overlapping applies at all to the cash market. But if you believe China leads (it topped in April before the S&P) then yes we need China to breakout before a new Bull can be called. The EOD reversal in China was nice and Europe is looking good, but we still have a long way to go....
StrikePrice
 
Posts: 770
Joined: Wed Mar 30, 2011 1:27 pm

Re: 09/14/2011 Intraday Watering

Postby Mongoose » Wed Sep 14, 2011 9:30 am

stucap wrote:
Mongoose wrote:Here is an example of the CDS market frontrunning an event -- pricing a 98% probability of a Greek default -- which equities are ignoring.

http://www.alsosprachanalyst.com/econom ... pdate.html

The last time equities ignored such signals was back in 2008 which Paulson was too happy to take advantage of.


Don't you know that the bond market is always wrong....... :mrgreen:



Tell that to Bill Gross.
http://www.forbes.com/sites/afontevecch ... -since-95/
Mongoose
 
Posts: 148
Joined: Sun Aug 28, 2011 4:49 am

Re: 09/14/2011 Intraday Watering

Postby Cobra » Wed Sep 14, 2011 9:31 am

the open.
Attachments
1.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 44795
Joined: Sat Feb 12, 2011 10:29 pm

Re: 09/14/2011 Intraday Watering

Postby MajorEasy » Wed Sep 14, 2011 9:32 am

real time e-mini S&P, could be bullish,
go figure, this chart includes over night
Attachments
914.png
the market's goal is to distribute the wealth of many to as few hands as possible
MajorEasy
 
Posts: 223
Joined: Wed Feb 16, 2011 9:53 pm

Re: 09/14/2011 Intraday Watering

Postby Michelle » Wed Sep 14, 2011 9:34 am

Copper not looking too good this morning.
Michelle
 
Posts: 131
Joined: Sat Jun 04, 2011 8:15 pm

Next

Return to Traders Lounge

Who is online

Users browsing this forum: Google Adsense [Bot] and 10 guests