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03/28/2011 Intraday Watering

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Cobra
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Re: 03/28/2011 Intraday Watering

Post by Cobra »

The 3rd touch of the morning low, odds now favors a breakdown. I'm still not sure though, look like a typical consolidation day for me, so even does breakdown, may not go far.
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tradersu
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Re: 03/28/2011 Intraday Watering

Post by tradersu »

Upper brown trend-line is still intact. Copper has dropped a bit. SPX should be next...

Absolutely no reason to get bullish here.
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KENA
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Re: 03/28/2011 Intraday Watering

Post by KENA »

Cobra wrote:
AK84 wrote: Why do oyu say Double top is unlikely so far ? Just for my educational purposes. Coz I was looking to short around 240
No evidence so I said "unlikely SO FAR". Personally, I won't short this one because trend is up, it's hard to time the top.
Yes I shorted a week ago and wish I had not.The next day it gaped up.I got burned but I will short again because when it moves it does so fast. It may not be time to short at this time.
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Cobra
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Re: Meaning of "last third day close? Please

Post by Cobra »

countryboy wrote:Cobra, I was intrigued by your chart showing the 16 out of 19 months "short at the last 3rd day close"...? Is the last 3rd day three days before the 1st of every month... or three days before the last day of the month ... or something else?

Sorry for my brain fog.
That's tomorrow at close.

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BullBear52x
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Re: 03/28/2011 Intraday Watering

Post by BullBear52x »

VIX number to watch 21.77, trades above this number could bring back fear into town, not Bulls friendly. just something to look for. what's interesting as far as internals indication, vix only trade one tick below 200ma the whole day that said alot about end of month windows dressing. BUY the DIPs is still on so far.
My comments are for entertainment/educational purpose only. NOT a trade advice.
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BullBear52x
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Re: 03/28/2011 Intraday Watering

Post by BullBear52x »

Standard down trend channel doing its job as resistance, I think today that's all she wrote. GL.
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99er
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Re: 03/28/2011 Intraday Watering

Post by 99er »

SPX
Target 1281.
http://99ercharts.blogspot.com/2011/03/spx_5237.html
Could be fast and furious.
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Cobra
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Re: 03/28/2011 Intraday Watering

Post by Cobra »

very boring day. I think a little breakdown is more likely.
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AK84
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Re: 03/28/2011 Intraday Watering

Post by AK84 »

Cobra wrote:very boring day. I think a little breakdown is more likely.
Cobra,

What are your thoughts for tomorrow and the rest of the week? I would love to know before the closing bell so we can position accordingly. :)

Thanksssss as always!
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Me XMan
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Re: 03/28/2011 Intraday Watering

Post by Me XMan »

We've just got one done and 2 in the hopper.
Soon another one with Iran?
No wonder Iran is getting nuke to even up the playing field. :oops:
Cobra wrote:
Me XMan wrote:You know we can do arm-twisting and make oil countries buy our debts. :?
Where's the money to fight the war? You think US is capable of fighting 4 or 5 or 6 or 7 wars at the same time?
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Cobra
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Re: 03/28/2011 Intraday Watering

Post by Cobra »

AK84 wrote:
Cobra wrote:very boring day. I think a little breakdown is more likely.
Cobra,

What are your thoughts for tomorrow and the rest of the week? I would love to know before the closing bell so we can position accordingly. :)

Thanksssss as always!
I still believe we'll see a pullback of some kind this week, but I don't recommend shorting yet because for so long that any bearish bias simply doesn't work.

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Cobra
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Re: 03/28/2011 Intraday Watering

Post by Cobra »

Breakdown finally. Support is the Friday's pullback low.
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Cobra
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Re: 03/28/2011 Intraday Watering

Post by Cobra »

here, we could have a small Double Top here. Target as shown in blue box. For now, I don't see anything serious on the downside yet.
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Simsonic
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Re: 03/28/2011 Intraday Watering

Post by Simsonic »

it gapped down slightly...
andyzaky
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Re: 03/28/2011 Intraday Watering

Post by andyzaky »

Potential breaking down coming to forming rising wedge on the SPY. See the 30-min. below:
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Cobra
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Re: 03/28/2011 Intraday Watering

Post by Cobra »

Well, I guess that's it for today, we might see more weakness tomorrow morning but so far nothing serious and there're chances that today's high will be tested later. Thank you guys, I'll see you tomorrow, hopefully an interesting day...
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huiwangren
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Re: 03/28/2011 Intraday Watering

Post by huiwangren »

Thanks,COBAR,see you tomorrow!baibai
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Me XMan
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Re: 03/28/2011 Intraday Watering

Post by Me XMan »

Got my lunch money :D
Cobra wrote:Well, I guess that's it for today, we might see more weakness tomorrow morning but so far nothing serious and there're chances that today's high will be tested later. Thank you guys, I'll see you tomorrow, hopefully an interesting day...
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Post by Enquigo »

VIX number to watch 21.77, trades above this number could bring back fear into town, not Bulls friendly. just something to look for. what's interesting as far as internals indication, vix only trade one tick below 200ma the whole day that said alot about end of month windows dressing. BUY the DIPs is still on so far.
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