02/22/2011 Intraday Watering

[Cobra]

Rebound, I shall guess, but no safe buy dip here...

Do you think it is going to go down more? Another leg down?

Yes, if this is still a NORMAL market, the rebound if any shall fail...

[Cobra]

Clear three push down if you look at 1 min chart, so reiterate a small rebound there and I expect it to fail eventually...

[Cobra]

Don't understand what I was saying, well, here's the 1 min chart. An experienced trader doesn't need to look at this 1 min chart, the pattern is clear. It's not important anyway, just small watering here... Oh, in case you don't know, click on the image to see the full sized image.

[simpletrade]

Thanks Cobra for the VIX-SPY charts. I sold VXZ at 57.25(bought at 55.38, 55.55 and 56.16). So again market can crash without me.

[Cobra]

Lunch time, be back soon. The small rebound is even smaller than I thought. Now you should know why don't trade against the trend, even an experienced trader like me cannot do it right the most time...

[99er]

COMP
Out of rising wedge now.
http://99ercharts.blogspot.com/2011/02/comp_22.html

[uempel]

Lunch time, be back soon. The small rebound is even smaller than I thought. Now you should know why don't trade against the trend, even an experienced trader like me cannot do it right the most time...

Bon apétit, I know that you did not have a beer, but what did you have for lunch?

[KENA]

We are getting closer. If we break 1312 we will at a lower low and could see more down trend

[Cobra]

Lunch time, be back soon. The small rebound is even smaller than I thought. Now you should know why don't trade against the trend, even an experienced trader like me cannot do it right the most time...

Bon apétit, I know that you did not have a beer, but what did you have for lunch?

Egg and pork, no beef yet.

[Cobra]

Some support here on blue dashed line, but any first rebound attemp would NORMALLY fail...

[Me XMan]

Where's Helicopter Ben? Where's POMO?

We are getting closer. If we break 1312 we will at a lower low and could see more down trend

[Cobra]

I think, might be another chance for a small rebound here...

[Cobra]

Bigger picture, we're around MA20, the last time it porked a little below MA20, then fly to the sky, this time... My guess is it'll break below MA20 a little bit larger than the previous 2 times.

[maldini]

Bigger picture, we're around MA20, the last time it porked a little below MA20, then fly to the sky, this time... My guess is it'll break below MA20 a little bit larger than the previous 2 times.

thanks

[maldini]

Bigger picture, we're around MA20, the last time it porked a little below MA20, then fly to the sky, this time... My guess is it'll break below MA20 a little bit larger than the previous 2 times.

There was only one leg last time, I am thinking whether the same thing will happen again

[uempel]

The same chart, first an overview, then a close-up (I drew the first chart a few days ago, wrote the comment in the second chart this morning)

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=3


http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=2

[EvilTrader]

With VIX out of BB new shorts with tight stops here are risking being squeezed and stopped out the next day or two.

Cobra, do you still expect a retest of the highs, or trend changed in your book ?

cheers.

[Cobra]

The same chart, first an overview, then a close-up:

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=3


http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=2

Uempel, how you found all those lines? Really amazing. You have lots of fans here, you know!

[Cobra]

With VIX out of BB new shorts with tight stops here are risking being squeezed and stopped out the next day or two.

Cobra, do you still expect a retest of the highs, or trend changed in your book ?

cheers.

I still expect a retest of the previous high. Bulls as strong as it has been showing won't give up without fight. An important top is reversal of reversal of reversal.

[Cobra]

Jus curious, anyone plans to short the coming L2 at EMA20?