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03/08/2011 Intraday Watering

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Cobra
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Re: 03/08/2011 Intraday Watering

Post by Cobra »

Careful, could be back test of the previous high failed, so the market is trying the other direction.
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Re: 03/08/2011 Intraday Watering

Post by optiondragon »

what happened to NVDA? Waterfall...
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Cobra
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Re: 03/08/2011 Intraday Watering

Post by Cobra »

usually the pullback target is the previous consolidation area.
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Dow Trader
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Re: 03/08/2011 Intraday Watering

Post by Dow Trader »

looks like my good deal is working :shock:
oil above $105 and Dow below 12240 so far
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Cobra
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Re: 03/08/2011 Intraday Watering

Post by Cobra »

Double Bottom reversal, let's see how far can this go.
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99er
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Re: 03/08/2011 Intraday Watering

Post by 99er »

Fritz Baxter
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Re: 03/08/2011 Intraday Watering

Post by Fritz Baxter »

XLF really trying to get past the 20dma at $16.80. Just can't make it for now.
If it does by EOD, I expect the gap to fill.
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Cobra
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Re: 03/08/2011 Intraday Watering

Post by Cobra »

Very tight support and resistance, market is cluless I guess.
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Dow Trader
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Re: 03/08/2011 Intraday Watering

Post by Dow Trader »

15-minutes chart:
if a clear red body appeared in Dow here near 12220 and then price droped to 12170 area before advancing to 12250, then this is a very bearish pattern for tommorow. But if it continue up to 12240-12280 area then forget what I just said.
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Me XMan
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Re: 03/08/2011 Intraday Watering

Post by Me XMan »

Say it ain't so Cobra. Market is up so far and my lunch and dinner money will be coming shortly. :D

If SPX can bang past 1324 then it will head for 1327-1330 for the close IMO.
Cobra wrote:Very tight support and resistance, market is cluless I guess.
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Re: 03/08/2011 Intraday Watering

Post by 99er »

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Me XMan
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Re: 03/08/2011 Intraday Watering

Post by Me XMan »

Watchout for that IHS on SPX 1-min chart? :?:
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Cobra
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Re: 03/08/2011 Intraday Watering

Post by Cobra »

Still in small range. My guess is that it might be unable to breakout on the upside because green curve (FXA:FXY) and pink curve (TLT) are not saying strong market.
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Cobra
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Re: 03/08/2011 Intraday Watering

Post by Cobra »

Bigger picture is not clear either, no lower low for sure, but still no higher high yet, so market is cluless too.
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Me XMan
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Re: 03/08/2011 Intraday Watering

Post by Me XMan »

Done for the day. Thanks Cobra.
greenback
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Re: 03/08/2011 Intraday Watering

Post by greenback »

Cobra,

It seems that we shall hold both long and short overnight?
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Re: 03/08/2011 Intraday Watering

Post by 99er »

SPX
Daily chart hints that the possible Diamond Top needs a couple days to become polished.
http://99ercharts.blogspot.com/2011/03/spx_205.html
Patience is a virtue.
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Cobra
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Re: 03/08/2011 Intraday Watering

Post by Cobra »

greenback wrote:Cobra,

It seems that we shall hold both long and short overnight?
Yes, purely from short-term model, hold both long and short. The model works perfect recently, if you saw Friday long at close and again Monday long at close. The Friday's long should be out on failed Monday gap up, while Monday's long at close now should have enough buffer to withstand a morning gap down, so should hold. In fact, Monday long at close will hold for awhile, until either the next failed long setup or the current stop loss being triggered (means a losing trade).

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Cobra
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Re: 03/08/2011 Intraday Watering

Post by Cobra »

Well, guess, that's if for today. We've had a very boring day and as mentioned moment ago, the market shows no clear direction so we'll have to wait until tomorrow. Thank you guys, I'll see you tomorrow!
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greenback
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Re: 03/08/2011 Intraday Watering

Post by greenback »

Cobra wrote:
greenback wrote:Cobra,

It seems that we shall hold both long and short overnight?
Yes, purely from short-term model, hold both long and short. The model works perfect recently, if you saw Friday long at close and again Monday long at close. The Friday's long should be out on failed Monday gap up, while Monday's long at close now should have enough buffer to withstand a morning gap down, so should hold. In fact, Monday long at close will hold for awhile, until either the next failed long setup or the current stop loss being triggered (means a losing trade).
Agree ... Cool!
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