Back to www.cobrasmarketview.com

11/17/2011 Intraday Watering

tdo722
Posts: 953
Joined: Wed Oct 05, 2011 3:19 pm

Re: 11/17/2011 Intraday Watering

Post by tdo722 »

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.
pady
Posts: 382
Joined: Mon Aug 29, 2011 3:22 am

Re: 11/17/2011 Intraday Watering

Post by pady »

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.
User avatar
Al_Dente
Posts: 28535
Joined: Thu Jul 21, 2011 2:29 pm

Re: 11/17/2011 Intraday Watering

Post by Al_Dente »

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
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
User avatar
Me XMan
Posts: 2014
Joined: Thu Feb 17, 2011 12:01 pm

Re: 11/17/2011 Intraday Watering

Post by Me XMan »

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.
User avatar
MrMiyagi
Posts: 10326
Joined: Sun Oct 16, 2011 12:48 pm

Re: 11/17/2011 Intraday Watering

Post by MrMiyagi »

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.
User avatar
99er
Posts: 3686
Joined: Mon Feb 14, 2011 3:43 pm
Contact:

Re: 11/17/2011 Intraday Watering

Post by 99er »

You Are Cordially Invited...

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

That should be fun.
User avatar
jarbo456
Posts: 2218
Joined: Wed Aug 10, 2011 9:19 am
Location: New York, NY

Re: 11/17/2011 Intraday Watering

Post by jarbo456 »

this is an ominously quiet last hour of trading. anyone else feel that?
User avatar
L_T
Posts: 1609
Joined: Tue Sep 13, 2011 9:49 am

Re: 11/17/2011 Intraday Watering

Post by L_T »

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
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 11/17/2011 Intraday Watering

Post by Cobra »

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.

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
99er
Posts: 3686
Joined: Mon Feb 14, 2011 3:43 pm
Contact:

Re: 11/17/2011 Intraday Watering

Post by 99er »

ES
Third challenge of the 75% line on the 60-minute chart...
User avatar
TWT
Posts: 2506
Joined: Wed Nov 16, 2011 6:57 am
Contact:

Re: 11/17/2011 Intraday Watering

Post by TWT »

SPX : follow up of the assumed wave (C) down
Attachments
spx 5 min.png
User avatar
jarbo456
Posts: 2218
Joined: Wed Aug 10, 2011 9:19 am
Location: New York, NY

Re: 11/17/2011 Intraday Watering

Post by jarbo456 »

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. -_-
User avatar
Cobra
Site Admin
Posts: 58344
Joined: Sat Feb 12, 2011 10:29 pm

Re: 11/17/2011 Intraday Watering

Post by Cobra »

a little breakdown, but not enough to count, let's wait.
Attachments
1.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
Ed02
Posts: 170
Joined: Wed May 04, 2011 10:57 am

Re: 11/17/2011 Intraday Watering

Post by Ed02 »

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.
ActiveTrader
Posts: 64
Joined: Tue Feb 15, 2011 6:54 pm

Re: 11/17/2011 Intraday Watering

Post by ActiveTrader »

Maybe break below 1205 or 50 DMA on SPX tomorrow morning to trigger the sell stops then reverse back up before the close?
agnosia
Posts: 1491
Joined: Fri Mar 11, 2011 10:59 am

Re: 11/17/2011 Intraday Watering

Post by agnosia »

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

trade accordingly.
stucap
Posts: 994
Joined: Thu Jul 14, 2011 12:25 pm

Re: 11/17/2011 Intraday Watering

Post by stucap »

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.......
noob
Posts: 532
Joined: Mon Oct 17, 2011 2:54 pm

Re: 11/17/2011 Intraday Watering

Post by noob »

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.
SB73
Posts: 1265
Joined: Wed Sep 14, 2011 12:20 pm

Re: 11/17/2011 Intraday Watering

Post by SB73 »

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.
User avatar
MrMiyagi
Posts: 10326
Joined: Sun Oct 16, 2011 12:48 pm

Re: 11/17/2011 Intraday Watering

Post by MrMiyagi »

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