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11/29/2011 Intraday Watering

Re: 11/29/2011 Intraday Watering

Postby Buckethead » Tue Nov 29, 2011 11:50 am

Watch crude oil at the $100 mark for market direction rest of today
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Re: 11/29/2011 Intraday Watering

Postby SB73 » Tue Nov 29, 2011 11:51 am

small caps flat after massive run yesterday...holding small long position now, but looking for short entry.
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Re: 11/29/2011 Intraday Watering

Postby 99er » Tue Nov 29, 2011 11:53 am

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Re: 11/29/2011 Intraday Watering

Postby SB73 » Tue Nov 29, 2011 11:54 am

uempel wrote:Whoever shorts now is either stupid or he has cojones di ferro...
rr.png


I was just thinking the same, but the opposite.
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Re: 11/29/2011 Intraday Watering

Postby Me XMan » Tue Nov 29, 2011 11:54 am

Can you give reasons why?

uempel wrote:Whoever shorts now is either stupid or he has cojones di ferro...
rr.png
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Re: 11/29/2011 Intraday Watering

Postby Mr. BachNut » Tue Nov 29, 2011 11:54 am

L_T wrote:Mr BachNut / PLUNGE/ soku where do you guys find good info on DeMark? It's one thing I've never been able to locate a "tutorial" of sorts for. Thanks for any info you can provide.

soku wrote:
PLUNGE wrote:
Mr. BachNut wrote:Market neutral.
Had a pilot short yesterday that was stopped out during yesterday's closing spike for small profit.
In spite of gain, technicals still look weak. Looking to re-establish short at higher prices.
Mechanical model is in sell mode.

Today is interesting for Tom DeMark followers. I believe a TD Sequential Setup buy signal will trigger today with an SPX close <1188.04. Above that, the setup is nullified, which I guess would keep followers of this signal on the sidelines.


Thanks for this observation! Here's my DeMark count:
The attachment sc3.png is no longer available



And his rules for a TD:
"If before price bar 9 is reached a price bar fails to close below that of four bars previously then the Setup is abandoned and the numbers are automatically deleted. Once nine consecutive price bars have been completed the trader will be looking for a "perfected" Setup; one that is now valid for trading. Buy Setup perfected when the low of either price bar 8 or 9 is less than the lows of both price bars 6 and 7."

But I'm a novice at DeMark, so not being critical :D

i am trading demark setup and countdown for a long time. a flip is not a good trading signal. you should wait for couple more bars. 4-5 is kinda commonly accepted entry point. overall i should say demark is more on reversal. i use it more on exit side.


I am still getting familiar with this myself. Here is a summary. A web search will turn up a lot. I think we have blown the perfected setup already.
Note: A TD setup occurred in the August plunge and buying it was a loser. It was better to wait for the TD Countdown.
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Re: 11/29/2011 Intraday Watering

Postby Xian » Tue Nov 29, 2011 11:55 am

Cobra wrote:
Me XMan wrote:So buy on the dip?

Cobra wrote:forgot to say: Target.


this kind of push up should be 3 legged. the very first pullback should be a buy.


Cobra, so does this mean the talk of "revisit the lows" is over as per last night's report?

Thanks
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Re: 11/29/2011 Intraday Watering

Postby luckystar2006 » Tue Nov 29, 2011 12:02 pm

uempel wrote:Whoever shorts now is either stupid or he has cojones di ferro...
The attachment rr.png is no longer available


With all due to respect, you have some attitude problems. Neither do I long nor short at this moment, but your comment at that time seems to contradict with your call for scalpers.
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I've been a MOMENTUM trader over a decade & I only trade setups ranging from scalping, day or swing trading for living. My posts on here are ONLY FOR FUN & therefore not recommending anything to anyone. GLTA.
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Re: 11/29/2011 Intraday Watering

Postby Me XMan » Tue Nov 29, 2011 12:03 pm

Orders in going long...

Cobra wrote:
Me XMan wrote:So buy on the dip?

Cobra wrote:forgot to say: Target.


this kind of push up should be 3 legged. the very first pullback should be a buy.
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Re: 11/29/2011 Intraday Watering

Postby Al_Dente » Tue Nov 29, 2011 12:04 pm


dude: THANKS FOR TNX, and always thanks for vix
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Re: 11/29/2011 Intraday Watering

Postby BullTart » Tue Nov 29, 2011 12:08 pm

luckystar2006 wrote:
uempel wrote:Whoever shorts now is either stupid or he has cojones di ferro...
rr.png


With all due to respect, you have some attitude problems. Neither do I long nor short at this moment, but your comment at that time seems to contradict with your call for scalpers.


LOL he gave two options... either stupid OR has big ones... I added shorts, but I'd like to think I have big ones and am not stupid.
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Re: 11/29/2011 Intraday Watering

Postby fehro » Tue Nov 29, 2011 12:08 pm

if we hold the 1187 area.. and if the patterns play out...
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Re: 11/29/2011 Intraday Watering

Postby Me XMan » Tue Nov 29, 2011 12:10 pm

Long order filled SPY $120.25
Stop loss $119.25. I'll give a buck for it.
Last edited by Me XMan on Tue Nov 29, 2011 12:14 pm, edited 1 time in total.
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Re: 11/29/2011 Intraday Watering

Postby uempel » Tue Nov 29, 2011 12:12 pm

I guess I've got to explain: signals around 1202/1205 are very contradictory: bulls seem to be in control, but on the other hand resistance is extremely strong. Early in the morning I shorted ES down from 1204 to 1195, but now I don't have the guts to do it again... Seems to me the market is too strong.
Last edited by uempel on Tue Nov 29, 2011 12:20 pm, edited 1 time in total.
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Re: 11/29/2011 Intraday Watering

Postby Xian » Tue Nov 29, 2011 12:12 pm

Cobra,

Also, one follow up question, please: Is it too early in the week to consider Friday's employment report and what it might mean in terms of a "pivot day"?

Thanks again!
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Re: 11/29/2011 Intraday Watering

Postby Mongoose » Tue Nov 29, 2011 12:15 pm

Why would anyone need cojones to short?
I have reliable source to sell the rebound:

http://www.cobrasmarketview.com/2011/11 ... he-bounce/
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Re: 11/29/2011 Intraday Watering

Postby Me XMan » Tue Nov 29, 2011 12:15 pm

Thanks man. Good explanation. 8-)

uempel wrote:I guess I've got to explain: signals around 1202/1205 are very contradictory, bulls seem to be in control, on the other hand resistance is extremely strong. Early in the morning I shorted ES down from 1204 to 1195, but now I don't have the guts to do it again... Seems to me the market is too strong.
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Re: 11/29/2011 Intraday Watering

Postby tdo722 » Tue Nov 29, 2011 12:16 pm

SB73 wrote:
uempel wrote:Whoever shorts now is either stupid or he has cojones di ferro...
rr.png


I was just thinking the same, but the opposite.



LoL! Oh the agony.
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Re: 11/29/2011 Intraday Watering

Postby Al_Dente » Tue Nov 29, 2011 12:20 pm

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Re: 11/29/2011 Intraday Watering

Postby Cobra » Tue Nov 29, 2011 12:20 pm

Guys, sorry i cannot access internet now, so no comment.

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