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05/31/2011 Intraday Watering

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uempel
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Re: 05/31/2011 Intraday Watering

Post by uempel »

Blue grid line was resistance, but market now above the 20 DMA:
SPX2.png
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shumushu
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Re: 05/31/2011 Intraday Watering

Post by shumushu »

regarding spammers cobra, I posted something a few days ago regarding Vbulletin. I am not sure if you read it.
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uempel
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Re: 05/31/2011 Intraday Watering

Post by uempel »

Tough call for any trade which should be valid for more than a few hours:
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tegra
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Re: 05/31/2011 Intraday Watering

Post by tegra »

it looks like we are going to roll over from here. at least make a short term low at spx 1295 area??
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cougar
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Re: 05/31/2011 Intraday Watering

Post by cougar »

AAPL breakout, with a high target at 349.50.
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target.GIF
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tegra
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Re: 05/31/2011 Intraday Watering

Post by tegra »

dr659 wrote:
cletus wrote:I am SHORT oil. I repeat, I am SHORT oil!!
Question, Why short USO instead of buying DNO?, Something to do with taxes or that 30 day buy rule? Thanks :?:

sliver is a short too imo.
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jamesmith
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Re: 05/31/2011 Intraday Watering

Post by jamesmith »

cougar wrote:AAPL breakout, with a high target at 349.50.
may the force be with AAPL~~
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Cobra
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Re: 05/31/2011 Intraday Watering

Post by Cobra »

shumushu wrote:regarding spammers cobra, I posted something a few days ago regarding Vbulletin. I am not sure if you read it.
Sorry, I didn't recall. Please post it again. For now if I decide to buy vBulletin, then it's merely for its relatively richer posting features (for you guys sake only) not for Spam anymore as the phpBB custom field for registering is good enough, I don't get any spammer registering nowadays.

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Cobra
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Re: 05/31/2011 Intraday Watering

Post by Cobra »

uempel wrote:
Cobra wrote:rebound as I said, normally, this kind of rebound shall fail. we'll see.
Cobra, you once mentioned a rule for these breaks to the upside: if price does not retrace in 2 (?) hours a certain percentage the move will continue up for the day. I wrote the rule down, but I don't find it... Thanks.
the rule is:

gap up huge, new intraday high after 10:30am ET, then 90% chances Close > Open.
gap down huge, new intraday low after 10:30am ET, then 90% chances Close < Open.
Any huge gap day tends to be a trend day either trend up or trend down.

So accordingly, by the way, today looks like a downtrend day so far.

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uempel
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Re: 05/31/2011 Intraday Watering

Post by uempel »

uempel wrote:
Cobra wrote:rebound as I said, normally, this kind of rebound shall fail. we'll see.
Cobra, you once mentioned a rule for these breaks to the upside: if price does not retrace in 2 (?) hours a certain percentage the move will continue up for the day. I wrote the rule down, but I don't find it... Thanks.
Thanks!
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AK84
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Re: 05/31/2011 Intraday Watering

Post by AK84 »

jamesmith wrote:
cougar wrote:AAPL breakout, with a high target at 349.50.
may the force be with AAPL~~
YESSS! MAY DAAAAA FORCEEEEEE b WITH DAAAA AAPLLL!!
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cougar
Posts: 1914
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Re: 05/31/2011 Intraday Watering

Post by cougar »

Cobra wrote:
uempel wrote:
Cobra wrote:rebound as I said, normally, this kind of rebound shall fail. we'll see.
Cobra, you once mentioned a rule for these breaks to the upside: if price does not retrace in 2 (?) hours a certain percentage the move will continue up for the day. I wrote the rule down, but I don't find it... Thanks.
the rule is:

gap up huge, new intraday high after 10:30am ET, then 90% chances Close > Open.
gap down huge, new intraday low after 10:30am ET, then 90% chances Close < Open.
Any huge gap day tends to be a trend day either trend up or trend down.

So accordingly, by the way, today looks like a downtrend day so far.
Good rules, Cobra! It makes sense! Thanx!
"ADV.NDX/DECL.NDX indicators" gave a strong BUY signal on 5/25. However, today, after the first hour of trading, the present NDX level appears to be vulnerable:
Attachments
advndx.GIF
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Cobra
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Re: 05/31/2011 Intraday Watering

Post by Cobra »

this kind of consolidation usually means more on the downside, at least NORMALLY, the very first rebound would fail.
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shooker
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Re: 05/31/2011 Intraday Watering

Post by shooker »

how come crude futures not dropping at all? in fact looks like its rising instead..
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uempel
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Re: 05/31/2011 Intraday Watering

Post by uempel »

Don't know what's going on, but I do know that I'll try to catch the move which should occur at 12.30 pm...
SPX5.png
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uempel
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Re: 05/31/2011 Intraday Watering

Post by uempel »

shooker wrote:how come crude futures not dropping at all? in fact looks like its rising instead..
GS sent out a report last week and they were quite bullish on crude. Unless you can corner the oil market you'd better be careful...
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shooker
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Re: 05/31/2011 Intraday Watering

Post by shooker »

uempel wrote:
shooker wrote:how come crude futures not dropping at all? in fact looks like its rising instead..
GS sent out a report last week and they were quite bullish on crude. Unless you can corner the oil market you'd better be careful...
oic thanks.. I followed cletus call on shorting oil :lol:

luckily I only bought a very small contract..
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Cobra
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Re: 05/31/2011 Intraday Watering

Post by Cobra »

i'll temporarily maintain the downside target as illustrated below. there's not without a doubt though as a normal consolidation should be with decreased volume, but look at the volume surge here, so there're some chances of a rebound here. we'll have to wait and see.
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MajorEasy
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Re: 05/31/2011 Intraday Watering

Post by MajorEasy »

thanks cougar for the chart
the market's goal is to distribute the wealth of many to as few hands as possible
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cletus
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Re: 05/31/2011 Intraday Watering

Post by cletus »

tegra wrote:
dr659 wrote:
cletus wrote:I am SHORT oil. I repeat, I am SHORT oil!!
Question, Why short USO instead of buying DNO?, Something to do with taxes or that 30 day buy rule? Thanks :?:

sliver is a short too imo.
Yes, I'm currently short oil, gold and silver via puts on the ETFs. The whole commodity complex should fall here soon in the next week or so.

Of all of them, I actually think gold is the most vulnerable.

I also own a large position in ZSL.
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