09/19/2011 Intraday Watering

[StrikePrice]

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.

I agree we need to still call the move up from 1102 a rebound because we've yet to reach a 50% retrace from 1371.

But you gotta believe Wall Street wants to make this things more than just a rebound to get their bonuses...

[chickencoop]

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

This is poetic! I love it.

[HappyFriday]

The bull is BACK ! Never underestimate the power of the BULL !

[agnosia]

why the hell do we gap down only to fill said gap in 1 or 2 days? this market is confused. i think we are rallying on the latest greece is "fixed" news (again)

crude is making its way up to 86.50 zone and that will be a good swing short. of course this could also be a false breakdown and the bernak will save the day driving prices over 90. should be interesting ...

[heavenskrow]

Death to bonds?

[Cobra]

I can eliminate another target now. unbelievable? yeah, better you believable it, history always repeats.

[Cobra]

all the targets are now met.

[rola]

very good call....

[SB73]

1209.96
C=A*1.618...would guess a pullback around here, but sitting here amazed by the action...waiting to make a move.

[q2model]

all the targets are now met.

U r the best, admirations

[soku]

need some time to digest the 1200+ area. as long as 1194-95 holds, it favors bulls.

[agnosia]

nice work today cobra -

damn i should have stuck to my original position from this morning and held my /es 1184 longs

[soku]

nice work today cobra -

damn i should have stuck to my original position from this morning and held my /es 1184 longs

half hour ago u still could add long below 1189

[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

This is poetic! I love it.

thanks chickencoop. it is an edited version of the one i have posted next to my screen, helps remind me what short-covering can do
elevator not finished yet, but soon, maybe this stick

[kaiboliu]

by this rate, we will reach the phantom bar target today.

[stockcycle]

TNA resistance @43.6 but it will get 44.7 for today.

My target for today for TNA@44.70 and XIV@7.07 achieved.

[ddd]

For real?

[BenAndLloyd]

Cobra,
Did I tell you today that you rock? I am trading AAPL calls based on your charts and made lots of money

[wjames]

Hey cobra - have followed you for more than a couple years now - unfortunately barely have time to really dig into the details on my own, but i read the nightlies, and its fun to track the board during the day and i play a long a bit. Followed today in around 10:30 and exited with some nice lunch money a few min ago. Cheers for your work, its really fun to watch your analysis.

Cheers!
Will

[agnosia]

nice work today cobra -

damn i should have stuck to my original position from this morning and held my /es 1184 longs

half hour ago u still could add long below 1189

yep, i am a fool for missing it because i stopped being a believer in the bull-tards thought they would wait till the bernak at least for gap fill.