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11/17/2011 Intraday Watering

Re: 11/17/2011 Intraday Watering

Postby tdo722 » Thu Nov 17, 2011 4:27 pm

Cobra wrote:
noob wrote:Hi Cobra, sorry for being stupid, but won't count on which side? Thx.

Cobra wrote:little trend line here, I won't count on it.


I won't count on that trend line as resistance, but it worked.

I usually don't read much on trend line as resistance or support.


what about trendlines and fibo? Would that be a good combo for support/resistance?

thanks.
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Re: 11/17/2011 Intraday Watering

Postby pady » Thu Nov 17, 2011 4:31 pm

Some EW impulse down numbers -

1 = 1267-1243
2 = 1243-1260
3 = 1260-1197 ( 262% w1 )
4 = 1197-1221 ( 38% )
5 = 1221-1181 ( 1.62*w1, 1157=2.62*w1 )

Then we have the santa rally for a bigger wave 2.
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Re: 11/17/2011 Intraday Watering

Postby Al_Dente » Thu Nov 17, 2011 4:32 pm

They're trying to squeeze my little JEF, not succeeding yet
and zh explains
http://www.zerohedge.com/news/jefferiss ... gle-digits

a few other of our fav dow squeeze candidates are halfhearted green sqz bar
notable is T...MRK
no others as yet
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Re: 11/17/2011 Intraday Watering

Postby Me XMan » Thu Nov 17, 2011 4:34 pm

Looking for 1185 and then bounce...

pady wrote:Some EW impulse down numbers -

1 = 1267-1243
2 = 1243-1260
3 = 1260-1197 ( 262% w1 )
4 = 1197-1221 ( 38% )
5 = 1221-1181 ( 1.62*w1, 1157=2.62*w1 )

Then we have the santa rally for a bigger wave 2.
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Re: 11/17/2011 Intraday Watering

Postby MrMiyagi » Thu Nov 17, 2011 4:34 pm

On the positive side, QQQ, AAPL, GOOG are off the day's lows.
The negative side, umm.. the rest?
Gap up tomorrow is what my flipped quarter says.
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Re: 11/17/2011 Intraday Watering

Postby 99er » Thu Nov 17, 2011 4:35 pm

You Are Cordially Invited...

http://www.businessinsider.com/occupy-w ... ay-2011-11

That should be fun.
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Re: 11/17/2011 Intraday Watering

Postby jarbo456 » Thu Nov 17, 2011 4:36 pm

this is an ominously quiet last hour of trading. anyone else feel that?
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Re: 11/17/2011 Intraday Watering

Postby L_T » Thu Nov 17, 2011 4:36 pm

Interesting note regarding dividend "harvesting" strategy I just found:

http://money.msn.com/business-news/arti ... d=14520984

BlackThought wrote:
Zouk wrote:
stucap wrote:For any of you trading equity and who like to snip a quick dividend---buy a little WYNN today....

Wynn Resorts $5 dividend will be paid Dec. 21 to shareholders of record as of Nov. 23.


But surely this is not baked into today's price? There's potential for a massive sell off afterhours on the 23rd or gap down on the 24th.


buy weekly puts for hedge
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Re: 11/17/2011 Intraday Watering

Postby Cobra » Thu Nov 17, 2011 4:40 pm

tdo722 wrote:
Cobra wrote:
noob wrote:Hi Cobra, sorry for being stupid, but won't count on which side? Thx.

Cobra wrote:little trend line here, I won't count on it.


I won't count on that trend line as resistance, but it worked.

I usually don't read much on trend line as resistance or support.


what about trendlines and fibo? Would that be a good combo for support/resistance?

thanks.


multiple fib might work because it's horizontal lines. Don't tell Uempel that I said I don't trust trend line, I know he's not here right now, so I said I don't trust trend line. :lol: The reason is trend line as resistance/support is not easily seen by all traders, so they don't act together while horizontal lines are mostly watched so people would act on that therefore it has some resistance/support effect.

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Re: 11/17/2011 Intraday Watering

Postby 99er » Thu Nov 17, 2011 4:40 pm

ES
Third challenge of the 75% line on the 60-minute chart...
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Re: 11/17/2011 Intraday Watering

Postby TWT » Thu Nov 17, 2011 4:42 pm

SPX : follow up of the assumed wave (C) down
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Re: 11/17/2011 Intraday Watering

Postby jarbo456 » Thu Nov 17, 2011 4:43 pm

bears are going to run out of time breaking this down...making it seem more of a basing pattern then consolidation. let's have a big break in the last 10 minutes. -_-
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Re: 11/17/2011 Intraday Watering

Postby Cobra » Thu Nov 17, 2011 4:43 pm

a little breakdown, but not enough to count, let's wait.
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Re: 11/17/2011 Intraday Watering

Postby Ed02 » Thu Nov 17, 2011 4:44 pm

Cobra wrote:I'm really scared to say this because we've got enough lessons of sharp intraday reversal recently, but, hey, this still looks like a continuation pattern, so a breakdown is a little ... more likely. :roll:


Cobra, what is the rule for your mechanical system to close TZA position (or other position such as TNA)? I have been following with 2% of my portfolio and it seems working fine. Thanks.
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Re: 11/17/2011 Intraday Watering

Postby ActiveTrader » Thu Nov 17, 2011 4:44 pm

Maybe break below 1205 or 50 DMA on SPX tomorrow morning to trigger the sell stops then reverse back up before the close?
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Re: 11/17/2011 Intraday Watering

Postby agnosia » Thu Nov 17, 2011 4:44 pm

in the end /es will touch the 50sma on the daily chart. now at 1201....it's a magnet drawing everyone in ..

trade accordingly.
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Re: 11/17/2011 Intraday Watering

Postby stucap » Thu Nov 17, 2011 4:45 pm

BlackThought wrote:
Zouk wrote:
stucap wrote:For any of you trading equity and who like to snip a quick dividend---buy a little WYNN today....

Wynn Resorts $5 dividend will be paid Dec. 21 to shareholders of record as of Nov. 23.


But surely this is not baked into today's price? There's potential for a massive sell off afterhours on the 23rd or gap down on the 24th.


buy weekly puts for hedge


IMHO WYNN has done nothing but go down since they announced the special dividend so i'm willing to take a little risk here. It's not a big enough position to buy puts on.......
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Re: 11/17/2011 Intraday Watering

Postby noob » Thu Nov 17, 2011 4:46 pm

I see positive divergence on 5 and 10 mins charts. Any thoughts Cobra?

Cobra wrote:a little breakdown, but not enough to count, let's wait.
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Re: 11/17/2011 Intraday Watering

Postby SB73 » Thu Nov 17, 2011 4:46 pm

A massive gap down would assure that we are in wave 3 of 3 at which point you do not want to be long for scalps. Cobra what is your general observation of traders on this board. My favorites are Fehro and Dow Trader.
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Re: 11/17/2011 Intraday Watering

Postby MrMiyagi » Thu Nov 17, 2011 4:48 pm

All signs pointing to reversal. If I short SPY then that will for sure turn it around.
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