12/12/2011 Intraday Watering

[Anaconda]

It's really hard to be ambivalent about phantom bars at this stage. I don't know the odds, but my personally record has been very good when following their lead.
A.

It's not the if but when that gets me in trouble

Come on, CD! Where's that iron discipline? Trade what you know, man!
More up to come, short term. (Still holding long term shorts, though.)

[Cobra]

Could you please clarify that "It's confirmed 1-2-3 trend changes" meaning SPY will start going up?
Thanks

will be in tonight's report. eventually I won't talk about day trend here otherwise it'd be unfair to paid members. I'll only talk about intraday trend here.

[Anaconda]

It's really hard to be ambivalent about phantom bars at this stage. I don't know the odds, but my personally record has been very good when following their lead.
A.

It's not the if but when that gets me in trouble

Come on, CD! Where's that iron discipline? Trade what you know, man!
More up to come, short term. (Still holding long term shorts, though.)

38 % retrace. I'm out of my longs.
A

[heavenskrow]

Can someone educate me as to what the heck is going onright now with spx? it's jumping but why?

technicals baby, we retested the neckline on the ES and pretended it was a bear flag on spy.
And we also held the red MA that has been deadly.

[CognitiveDissonance]

It's really hard to be ambivalent about phantom bars at this stage. I don't know the odds, but my personally record has been very good when following their lead.
A.

It's not the if but when that gets me in trouble

Come on, CD! Where's that iron discipline? Trade what you know, man!
More up to come, short term. (Still holding long term shorts, though.)

I knew to follow the rules not the emotion, dammit, still learning

I HATE Algos!!!!!!!!!

[EFA]

Could you please clarify that "It's confirmed 1-2-3 trend changes" meaning SPY will start going up?
Thanks

will be in tonight's report. eventually I won't talk about day trend here otherwise it'd be unfair to paid members. I'll only talk about intraday trend here.

Got it! Thanks... I'll read it tonight!

[BBFinance]

In AUD/JPY we are due for a bounce upto 78.88 but will sell down to 77.45.
Irrespective of the late bounce or opening high early tomorrow, I think we will go down further.

[heavenskrow]

damn i dont know if i have enough balls to hold onto UPRO when Euro and Portugal look fugly....

[Al_Dente]

Internals BIG trend change S * Q * U * E * E * Z * E

http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

[Cobra]

strong close is not necessarily good for bulls because it means bears dare not hold the short overnight. Just it looks like all those Phantom Bars worked again, unbelievable.

[CognitiveDissonance]

So, what I'm understanding between this board and some EW work is:

short term up but medium term down?

[heavenskrow]

green volume outpaces the last 2 capitulation bars.

[Anaconda]

damn i dont know if i have enough balls to hold onto UPRO when Euro and Portugal look fugly....

Look for some ridiculous "save" announcement to save the day (temporarily) again. More (MUCH) down to come.
A.

[waverider]

Exited UPRO one minute ago, got out even, your welcome etrade for the comission. Have a good one everyone.

[wayne0708]

So, what I'm understanding between this board and some EW work is:

short term up but medium term down?

Cobra please explain what u mean by phantom bars work again
Thanks

[Cobra]

volume surge, could be bull exhaustion. I think most bears covered during this surge (including me). Let's see how market closes today without bears help.

[heavenskrow]

damn i dont know if i have enough balls to hold onto UPRO when Euro and Portugal look fugly....

Look for some ridiculous "save" announcement to save the day (temporarily) again. More (MUCH) down to come.
A.

yeah thats what im fearful of... Dollar index and portugal.....look pretty scary.

[jiufeite]

strong close is not necessarily good for bulls because it means bears dare not hold the short overnight. Just it looks like all those Phantom Bars worked again, unbelievable.

VIX goes red

[fulkdaddy]

Could you please clarify that "It's confirmed 1-2-3 trend changes" meaning SPY will start going up?
Thanks

will be in tonight's report. eventually I won't talk about day trend here otherwise it'd be unfair to paid members. I'll only talk about intraday trend here.

Cobra, if you did not give us thoughts on what may happen tomorrow, then we do not know if you believe it is prudent to hold a position over night or cover. Thus, it is a big help when you give us thoughts for the next day before the close...it would be sad to lose your insight for the next day...

[CognitiveDissonance]

So, what I'm understanding between this board and some EW work is:

short term up but medium term down?

Cobra please explain what u mean by phantom bars work again
Thanks

Just my two cents, but it's note clear if they're statstically significant, they happen when systems hunt stop limits, you can use them as a guide to future prices but they don't always work. I was getting 8 of them in one day and the price action didn't come until weeks later.