09/19/2011 Intraday Watering

[leftbank]

Hi Corbra,

If you don't mind, can you share your setup that gives the 88% chances, a gap down? gap down + no further breakdown?

OK, I just checked my setup, there're 88% chances, either the tinted area will be reached or at least the red lines above be revisited twice before the market rollover again. The setup was just failed recently, so hopefully it could work this time.

[deadmoney95]

Could see some crazy moves "shortly":

CNBCbrk CNBC Breaking News
Greek Finance Ministry Says Troika Conference Call Over, Announcement Expected Shortly

Fairly anticlimactic:

CNBCbrk CNBC Breaking News
Greece To Hold More Talks With EU & IMF Tomorrow - DJ

[Cobra]

the 3rd target, the breakout not confirmed though but no harm to know the 3rd target. I think the 2nd target in the middle has higher chances.

[Grizzly]

Interesting that IWM is lagging so far behind SPY & SSO...

[99er]

SPX
Back test complete.
http://99ercharts.blogspot.com/2011/09/spx_2288.html

And a one...a two...and a one two three.

[uempel]

the 3rd target, the breakout not confirmed though but no harm to know the 3rd target. I think the 2nd target in the middle has higher chances.

Cobra, your statistics ain't valid, the Greeks are manipulating the market...

[SB73]

This morning A / B / C corrective move would end with C at 1202.87 if C = A

[Cobra]

trend line support, hopefully a rebound to test the day high at least.

[Cobra]

the 3rd target, the breakout not confirmed though but no harm to know the 3rd target. I think the 2nd target in the middle has higher chances.

Cobra, your statistics ain't valid, the Greeks are manipulating the market...

there's a simple way for Greeks to raise money, betting heavily on the market then keep giving out news in favor of their bets. All problem will be solved.

[Mr. T]

I want that kind of power - so I'll have to run for congress...........

[chickencoop]

This actually raised an interesting question. Is there an international law that prohibits them from doing it? Greek National Hedge Fund of Inside Traders?

[grachu]

cobra ... if you answer ?":)

1. Green day because of FMO tomorrow and or wedneday ?
Are we still on the long term : "revist the august lows"

[Cobra]

cobra ... if you answer ?":)

1. Green day because of FMO tomorrow and or wedneday ?
Are we still on the long term : "revist the august lows"

today's action only proves this is (was) just a rebound.

The 7 days rule although allows 1 day red, but definitely not big scary intraday sell off, so it's not a strong rebound.

[Mr. T]

This actually raised an interesting question. Is there an international law that prohibits them from doing it? Greek National Hedge Fund of Inside Traders?

Nope. As a matter of fact, US congressmen do this all the time.
Insider trading at it's worst........ they should be executed for treason.

[chickencoop]

This actually raised an interesting question. Is there an international law that prohibits them from doing it? Greek National Hedge Fund of Inside Traders?

Nope. As a matter of fact, US congressmen do this all the time.
Insider trading at it's worst........ they should be executed for treason.

I wish I had a law man as my uncle. I'll trade the sh$t out of it from inside.

[Cobra]

good, I'm happy with bulls actions today, at least revisit the day's high please.

[Cobra]

let's see which targets get reached today.

[Cobra]

now I could eliminate one target. 2 targets remain. they might have no problem at all. unbelievable, another morning dip was bought!!!!!!!!!!!!!!!!!!

[heavenskrow]

[Al_Dente]

classic “elevator squeeze” possibly in progress, right now
if you are quartered, switch to full screen quick
5 minute candlesticks, make ‘em big, one day, in your face
it can be a breathtaking thing to watch if/as it keeps developing
let it enchant you
it should be able to go a few more sticks
7, 8, 9, sticks maybe more; every squeeze is unique
turn off all news and noise, so you can try to hear it
the soft swoosh of the elevator moving up
the hesitation at the various floors
if it’s a true elevator, each new stick should hit a higher high (high tails are okay)
no stick should CLOSE below the center of the last stick
it may be over soon
another new high
and another
then, when it finally reaches the penthouse
a pause
almost imperceptible
like an air pocket
(more like a biplane that zooms up as high as it can aerodynamically go, then pauses, suspended for a moment at the top, then turns slightly, just before gravity pulls it quickly back to earth)
you can almost hear it at the top: that crisp, clear, dead-air crackling
It is the sound of the short-covering coming to a DEAD HALT
they just stop buying back, they are finished for the moment, perhaps
no one knows how much it will take to feed the beast
and then …….. elevator down