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03/29/2011 Intraday Watering

MiniMilt
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Re: 03/29/2011 Intraday Watering

Post by MiniMilt »

If this holds any move up will be a marginal higher high with a roll over the next couple of days. Right now it looks like the objective of this push off the lows was a gap fill

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uempel
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Re: 03/29/2011 Intraday Watering

Post by uempel »

I'm looking at overhead resistance:
Resistance.png
http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=3
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KENA
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Re: 03/29/2011 Intraday Watering

Post by KENA »

A lot of retail investors are following the old rule "buy bad news,sell good news" and I think we got the lower high in today.
DCS
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Re: 03/29/2011 Intraday Watering

Post by DCS »

uempel wrote: I'm uncertain about what is going to happen, and I tend to avoid bets which are fifty-fifty. So I'm 100% cash.
My personal risk threshold seems to fluctuate. I'm not sure if that's a good thing or a bad thing.

Presently, I'm sticking my neck out about as far as I ever do. I took a reasonably large short position today at 1312.

Stop 1320 on strong move, hope for 1280 or lower this week. Out by Fri close at the latest.

IMHO - we'll have some kind of pullback because strong bears would have blasted 1325 already if they could, but they couldn't. I'll think they'll feel better about moving up after we satisfy some technical reasons for pulling back; also because seasonality, because divergence in p/c ratios retail vs pro, because News is not fully settled, and because I'm frequently a contrarian retailer.

So wish me luck, and good trades!
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Cobra
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Re: 03/29/2011 Intraday Watering

Post by Cobra »

Target $132 if breakout which is more likely.
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BullBear52x
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Re: 03/29/2011 Intraday Watering

Post by BullBear52x »

BULLs SPY 131.35 is your last stand. Bears if you short same time I did today (just intraday play) you are about to find out if you will be paying comission for nothing, anywhoooo get tfo above 131.62 GL.
My comments are for entertainment/educational purpose only. NOT a trade advice.
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TheGift
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Re: 03/29/2011 Intraday Watering

Post by TheGift »

Cobra, your getting beat up today by some of your posters.... :( ......I still believe in you buddy. Your doing an excellent job with your blog!
FJoe
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Re: 03/29/2011 Intraday Watering

Post by FJoe »

Does the minor weakness in the Nasdaq here change anyones opinion...as in the last hour it has been weaker than the S&P.
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Cobra
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Re: 03/29/2011 Intraday Watering

Post by Cobra »

Lunch time, I'll eat pork today. So far my evil plan goes well, bulls should remember though: the 3rd push doesn't have to be a higher high. That said, I won't be a bear until I see strong push downward. Market is always right, why bother to speculate? That's how I actually trade. :mrgreen:
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Cobra
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Re: 03/29/2011 Intraday Watering

Post by Cobra »

TheGift wrote:Cobra, your getting beat up today by some of your posters.... :( ......I still believe in you buddy. Your doing an excellent job with your blog!
Thanks. But nobody beat me today. :roll:

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BullBear52x
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Re: 03/29/2011 Intraday Watering

Post by BullBear52x »

TheGift wrote:Cobra, your getting beat up today by some of your posters.... :( ......I still believe in you buddy. Your doing an excellent job with your blog!
DID I talk too much? I just said what I see, brainstorming is healthy don't you think?
My comments are for entertainment/educational purpose only. NOT a trade advice.
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99er
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Re: 03/29/2011 Intraday Watering

Post by 99er »

EkOnkaar
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Re: 03/29/2011 Intraday Watering

Post by EkOnkaar »

BullBear52x wrote:
TheGift wrote:Cobra, your getting beat up today by some of your posters.... :( ......I still believe in you buddy. Your doing an excellent job with your blog!
DID I talk too much? I just said what I see, brainstorming is healthy don't you think?
Not at all. A healthy and opposing point of view keeps everyone sharp, as long as it is cordial, and substantiated by analysis. Emotional remarks without substantive evidence is what is bothersome. And yes, I think Cobra has done a wonderful job of educating us on the one thing us TA folks need, that is, to listen to the market, with only our fractals and indicators, and tune out the "noise"..

Ek
uempel
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Re: 03/29/2011 Intraday Watering

Post by uempel »

A close look at hourly momentum:
Momentum.png
markyuan81
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Re: 03/29/2011 Intraday Watering

Post by markyuan81 »

by EkOnkaar » Tue Mar 29, 2011 1:36 pm

BullBear52x wrote:
TheGift wrote:
Cobra, your getting beat up today by some of your posters.... ......I still believe in you buddy. Your doing an excellent job with your blog!
DID I talk too much? I just said what I see, brainstorming is healthy don't you think?

Not at all. A healthy and opposing point of view keeps everyone sharp, as long as it is cordial, and substantiated by analysis. Emotional remarks without substantive evidence is what is bothersome. And yes, I think Cobra has done a wonderful job of educating us on the one thing us TA folks need, that is, to listen to the market, with only our fractals and indicators, and tune out the "noise"..

GOOD POINT. LONG LIFE, COBRA!
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Cobra
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Re: 03/29/2011 Intraday Watering

Post by Cobra »

I see Ascending Triangle here.
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Cobra
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Re: 03/29/2011 Intraday Watering

Post by Cobra »

Breakout, yes!
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Cobra
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Re: 03/29/2011 Intraday Watering

Post by Cobra »

EkOnkaar wrote: Not at all. A healthy and opposing point of view keeps everyone sharp, as long as it is cordial, and substantiated by analysis. Emotional remarks without substantive evidence is what is bothersome. And yes, I think Cobra has done a wonderful job of educating us on the one thing us TA folks need, that is, to listen to the market, with only our fractals and indicators, and tune out the "noise"..

Ek
Thanks and agree. The opposite opinions are very welcome here! :lol:

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Me XMan
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Re: 03/29/2011 Intraday Watering

Post by Me XMan »

I'm toasted :twisted:
Cobra wrote:Breakout, yes!
cletus
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Re: 03/29/2011 Intraday Watering

Post by cletus »

Could be a double top on the hourly chart with one more push up above 1320 setting up our downside action for month-end. Either that or a continuation pattern with a target at 1335. Either way, I would rather be in cash or short now than long. I will be buying puts if the VIX trades down to 18 today.
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