02/23/2011 Intraday Watering

[Cobra]

Small gap up within yesterday's range, so the gap will be filled and the day could be a range day. Usually any gap (up or down) after a Major Accumulation or Distribution day would get filled and the day tends to be a narrow range day. Well, let's see.

[wave]

First. haha

[99er]

"So, honey, how's the market today?"
The usual...you know, up and down.
Up: DX http://99ercharts.blogspot.com/2011/02/dollar_23.html
Down: ES http://99ercharts.blogspot.com/2011/02/es_23.html
"So when is Date Night?"

[chickencoop]

good morning, fellas.

[alf]

good morning to all

[sniffer]

Market will all day up to trap more bulls or trap aggressive bears? Who knows.... I guess Cobra knows. I will stay tune this channel.

[PLMT]

Agree with you ,The gap will be filled.

[alf]

no gap now

[99er]

Crude
$4.29 for premium in West LA.
http://99ercharts.blogspot.com/2011/02/crude_23.html
Angry at Ben?

[Cobra]

Opening. This looks like a retest of yesterday's low, the selling is strong so could be a lower low.

[AK84]

Hi Cobra!

With so many stocks such as PCLN , AAPL , GOOG , etc stopping their sell off at 50DMA and now bouncing today, would you think this is a good time to pick them up and go long or should one wait still more to see if there is a second leg down >

Especially with AAPL and GOOG I see the 50DMA as being strong support for as long as 1 year on the chart (with few exceptions ofcourse ) . What is you take and advice to this newbie?

Thanks.

[maldini]

Good morning Cobra!

[huiwangren]

good morning Cobra

[Cobra]

so far the opening is not bad on Global ES, have back tested the yesterday's low, if by 10:00am ET, this is still the case, then I'd expect the market keeps rebounding from here.

[koolblue]

Good morning forum!

[99er]

Copper
"Risk Off."
http://99ercharts.blogspot.com/2011/02/copper_23.html
But will it bounce?

[koolblue]

And courtesy of sentimentrader...

[Cobra]

Hi Cobra!

With so many stocks such as PCLN , AAPL , GOOG , etc stopping their sell off at 50DMA and now bouncing today, would you think this is a good time to pick them up and go long or should one wait still more to see if there is a second leg down >

Especially with AAPL and GOOG I see the 50DMA as being strong support for as long as 1 year on the chart (with few exceptions ofcourse ) . What is you take and advice to this newbie?

Thanks.

I wouldn't think about GOOG, as it has a lower high already.

AAPL and PCLN look good so far but if you believe that this time the broad market will have a 2nd leg down, then probably you can wait, at least try smaller position first.

[KENA]

Good Morining.. Another day. Stocktiming.com has an alert on today. Spy and Russell in caution condition and Nas-100 in danger area. Mkt still in up trend but under duress..Liquidity still hi.

[Cobra]

A wide range bar, so this could be an exhaustion bar expeically at a support, so bull still has hopes. Let's see how the next hourly bar goes - a little consolidation instead of sharp reversal would be bad for bulls though.