Back to www.cobrasmarketview.com

   

09/16/2011 Intraday Watering


Re: 09/16/2011 Intraday Watering

Postby Mr. BachNut » Fri Sep 16, 2011 11:19 am

uempel wrote:Waiting for SPX at 1228, but now it has tanked below DMA 377 (now at 1214) and I'm just watching and hoping there will be another run for a higher high so that I can short :roll:
SPX36.png


I have been waiting to add short at 1222. Not looking like it will make it at the moment.
I have to say the short I have on already feels terrible. Mr. Market is turning my intermediate signals green right as he is running into a serious resistance area.
Signals will whipsaw if market rolls over.
So, sticking to plan for now with a stop. Will reassess next week.
User avatar
Mr. BachNut
 
Posts: 2491
Joined: Thu Feb 24, 2011 2:28 pm

Re: 09/16/2011 Intraday Watering

Postby silicon_beaver » Fri Sep 16, 2011 11:22 am

It's two-leg pull-back. starting its 2nd leg.
User avatar
silicon_beaver
 
Posts: 524
Joined: Wed Feb 23, 2011 4:09 pm
Location: Beaverton OR

Re: 09/16/2011 Intraday Watering

Postby jarbo456 » Fri Sep 16, 2011 11:24 am

silicon_beaver wrote:It's two-leg pull-back. starting its 2nd leg.


yeah, i spoke too soon. and took off a small little hedge too soon. back on now though.
User avatar
jarbo456
 
Posts: 2218
Joined: Wed Aug 10, 2011 9:19 am
Location: New York, NY

Re: 09/16/2011 Intraday Watering

Postby KENA » Fri Sep 16, 2011 11:28 am

Bears will have a chance when we break dn thru 1190.Until then watch and wait..I'm going to work out.
User avatar
KENA
 
Posts: 2995
Joined: Tue Feb 15, 2011 1:54 pm

Re: 09/16/2011 Intraday Watering

Postby jarbo456 » Fri Sep 16, 2011 11:29 am

question for the board...

i pretty much day trade options, but the commissions on TOS are killing me. anyone know the cheapest/best execution option broker out there?
User avatar
jarbo456
 
Posts: 2218
Joined: Wed Aug 10, 2011 9:19 am
Location: New York, NY

Re: 09/16/2011 Intraday Watering

Postby AK84 » Fri Sep 16, 2011 11:29 am

Cobra ,

what is the spx target for 2nd leg?
AK84
 
Posts: 572
Joined: Tue Feb 15, 2011 5:09 am

Re: 09/16/2011 Intraday Watering

Postby StrikePrice » Fri Sep 16, 2011 11:29 am

SPY Monthly - we crossed back below the 20 SMA. You could easily read this chart as Bullish or Bearish.

I don't think we get much below the BB(10,2) so I'm closing my short at 119.50 area. What? I'll take $2 anytime.
Attachments
SPY_M.png
StrikePrice
 
Posts: 770
Joined: Wed Mar 30, 2011 1:27 pm

Re: 09/16/2011 Intraday Watering

Postby cougar » Fri Sep 16, 2011 11:31 am

My stock of the day: MELA.
2nd breakout:
Attachments
MELAgif.GIF
cougar
 
Posts: 1914
Joined: Fri May 20, 2011 9:25 am

Re: 09/16/2011 Intraday Watering

Postby bushwaffle » Fri Sep 16, 2011 11:32 am

AK84 wrote:Cobra ,

what is the spx target for 2nd leg?


I'm no Cobra...but I'm looking at 118.16 sometime today...

Might just be me with lots of hope, lol
Last edited by bushwaffle on Fri Sep 16, 2011 11:33 am, edited 1 time in total.
User avatar
bushwaffle
 
Posts: 216
Joined: Fri Sep 09, 2011 4:50 pm

Re: 09/16/2011 Intraday Watering

Postby KENA » Fri Sep 16, 2011 11:33 am

jarbo456 wrote:question for the board...

i pretty much day trade options, but the commissions on TOS are killing me. anyone know the cheapest/best execution option broker out there?


I tried that a few years back and found that my buys and sells were all a couple cents or higher.It did not pay off.
User avatar
KENA
 
Posts: 2995
Joined: Tue Feb 15, 2011 1:54 pm

Re: 09/16/2011 Intraday Watering

Postby ultramarine » Fri Sep 16, 2011 11:33 am

Mr. BachNut wrote:
uempel wrote:Waiting for SPX at 1228, but now it has tanked below DMA 377 (now at 1214) and I'm just watching and hoping there will be another run for a higher high so that I can short :roll:
The attachment SPX36.png is no longer available


I have been waiting to add short at 1222. Not looking like it will make it at the moment.
I have to say the short I have on already feels terrible. Mr. Market is turning my intermediate signals green right as he is running into a serious resistance area.
Signals will whipsaw if market rolls over.
So, sticking to plan for now with a stop. Will reassess next week.


Ain't that always the way? :D The medium term signals turn green just as it hits resistance. Which to trust?

Given the huge role the Euro is playing in this market, I think the inability of the Euro to close above resistance at 1.39 is also a sign that the downside risks are real next week. Bonds are also rallying as stochastics is moving higher on the 60 min TLT chart after touching the 20 line. These are two good reasons that we may not move higher anytime soon.

tlt09.16.2011.png
ultramarine
 
Posts: 194
Joined: Fri Aug 26, 2011 9:25 am

Re: 09/16/2011 Intraday Watering

Postby silicon_beaver » Fri Sep 16, 2011 11:34 am

jarbo456 wrote:question for the board...

i pretty much day trade options, but the commissions on TOS are killing me. anyone know the cheapest/best execution option broker out there?


there are several around. optionhouse....
But, as long as you trade options. it's expensive.
need right timing to win in options trade. I used to do, now back to trade stocks/ETF.
User avatar
silicon_beaver
 
Posts: 524
Joined: Wed Feb 23, 2011 4:09 pm
Location: Beaverton OR

Re: 09/16/2011 Intraday Watering

Postby AK84 » Fri Sep 16, 2011 11:34 am

Cobra ,

what is the spx target for 2nd leg?
AK84
 
Posts: 572
Joined: Tue Feb 15, 2011 5:09 am

Re: 09/16/2011 Intraday Watering

Postby AK84 » Fri Sep 16, 2011 11:36 am

silicon_beaver wrote:
jarbo456 wrote:question for the board...

i pretty much day trade options, but the commissions on TOS are killing me. anyone know the cheapest/best execution option broker out there?


there are several around. optionhouse....
But, as long as you trade options. it's expensive.
need right timing to win in options trade. I used to do, now back to trade stocks/ETF.


I use zecco trading / optionhouse. both are very cheap. Interactive brokers is also very cheap. Check em out!
AK84
 
Posts: 572
Joined: Tue Feb 15, 2011 5:09 am

Re: 09/16/2011 Intraday Watering

Postby champix » Fri Sep 16, 2011 11:36 am

champix wrote:
champix wrote:Regarding crude, here is my plan for today ...
Just missed my buy for a few cents, but I am patient... :twisted:

Long 1 CL @ 87.55, stop 87.25 target unchanged !


damn, stoped ... hummm, will try again later if spi allows me !
User avatar
champix
 
Posts: 551
Joined: Thu Apr 14, 2011 9:13 am
Location: PARIS

Re: 09/16/2011 Intraday Watering

Postby Cobra » Fri Sep 16, 2011 11:36 am

AK84 wrote:Cobra ,

what is the spx target for 2nd leg?


no idea yet, need a pattern.

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: 47263
Joined: Sat Feb 12, 2011 10:29 pm

Re: 09/16/2011 Intraday Watering

Postby StrikePrice » Fri Sep 16, 2011 11:36 am

KENA wrote:
jarbo456 wrote:question for the board...

i pretty much day trade options, but the commissions on TOS are killing me. anyone know the cheapest/best execution option broker out there?


I tried that a few years back and found that my buys and sells were all a couple cents or higher.It did not pay off.


I thought I saw lightspeed being cheap. If you trade more than 5 contracts always than look at OptionsHouse
StrikePrice
 
Posts: 770
Joined: Wed Mar 30, 2011 1:27 pm

Re: 09/16/2011 Intraday Watering

Postby jarbo456 » Fri Sep 16, 2011 11:39 am

i see a phantom up to 121.52
User avatar
jarbo456
 
Posts: 2218
Joined: Wed Aug 10, 2011 9:19 am
Location: New York, NY

Re: 09/16/2011 Intraday Watering

Postby jarbo456 » Fri Sep 16, 2011 11:39 am

jarbo456 wrote:i see a phantom up to 121.52


wow, and a second phantom in a row on the minute chart.
User avatar
jarbo456
 
Posts: 2218
Joined: Wed Aug 10, 2011 9:19 am
Location: New York, NY

PreviousNext

Return to Traders Lounge

Who is online

Users browsing this forum: Google [Bot] and 14 guests