03/25/2011 Intraday Watering

[mylock]

not sure how far we will pullback. We will have to see.

[Travelfrog]

silverharp? What average do you use for the envelope centreline?

[silverharp]

silverharp? What average do you use for the envelope centreline?

89 (hat tip to Fib) , it suits the envelope lines better.

[Cobra]

Here comes the L2 short.

[Travelfrog]

silverharp? What average do you use for the envelope centreline?

89 (hat tip to Fib) , it suits the envelope lines better.

Just curious, always like to try new ideas. Have been experimenting with 68ema double fib of 34. Guppy multiple moving averages use 60.

[DaWay]

Are they up to 'something'?

[Travelfrog]

This is the channel I am currently experimenting with based on T3. 68ema and DPO34 for trend.

[cletus]

Just a few hours away from an official trend change to UP according to moving average theory. However, in my experience, the point at which the trend officially changes is usually one of the worst times to be on the side of the trend, so it's generally better to be trading against the "official" trend right when it's confirmed until there's a deeper pullback, in which case you cover and wait to see if it recovers or continues lower. In this case, I would expect this move to possibly continue up to 1330 and then retrace at least to 1295 or so, at which point it either rebounds and continues up or continues down to lower lows beneath 1240.

[Cobra]

I see a Descending Triangle here so could breakdown.

[Cobra]

Just a few hours away from an official trend change to UP according to moving average theory. However, in my experience, the point at which the trend officially changes is usually one of the worst times to be on the side of the trend, so it's generally better to be trading against the "official" trend right when it's confirmed until there's a deeper pullback, in which case you cover and wait to see if it recovers or continues lower. In this case, I would expect this move to possibly continue up to 1330 and then retrace at least to 1295 or so, at which point it either rebounds and continues up or continues down to lower lows beneath 1240.

I agree, a trend following system for example (as it usually use Moving Averages), usually the winning rate is below 40%, so this basically says when the signal is confirmed buy it's actually a short-term sell at least.

[KENA]

Cobra...I see and hear that canada just thru out your goverment...Sometimes I think we should do that also.

[Cobra]

OK, here we go the breakdown. Now let's watch the OR high support.

[Cobra]

Cobra...I see and hear that canada just thru out your goverment...Sometimes I think we should do that also.

Well, it's not what it sounds. The current government is minority government and when the poll shows that you could well become a majority government what will you do? Simply, right? You make your oppositions angry therefor triggering an election so in May you'll be the majority government and therefore no oppositions could bargain with you any more. Risk? Of course, everything has risks but it worth try, right? This is what we called the RISK REWARD RATIO IS GOOD.

[KENA]

Anyone have any thoughts on this...We just closed a big gap and stalled out at 1319...the hi was 1343 and the last time we could not break thru 1331..The mkt has tried to break out but could not so now down to 1287 early next week and then maby lower.

[Cobra]

Anyone have any thoughts on this...We just closed a big gap and stalled out at 1319...the hi was 1343 and the last time we could not break thru 1331..The mkt has tried to break out but could not so now down to 1287 early next week and then maby lower.

The rebound is so strong, so won't tank right away, bulls should have plenty of time to escape.

[KENA]

Here is something to chew on for a bit... The XLE has hit a double top and could pull back now also.

[BullBear52x]

SPY

[Cobra]

Channel resistance. So far the pullback looks like a bull flag to me.

[ActiveTrader]

As the HFTs do, just buy the dip and be happy since you will make money immediately.

[Cobra]

This chart by the way, still is what I'm looking at. If you don't believe me, you can compare all the past bottoms to see how the market rebounded. So I'll maintain that we'll retest the 03/16 lows first before making a new high assume in the last 56 minutes the market doesn't shoot up huge of course.