06/02/2011 Intraday Watering

[cletus]

the next common pattern would be like this. again, my comments are info only, nothing to do with trade. to trade, you should try your best not against the trend, even it's day trading. there's difference between beginner and veteran where beginner, say on a big down day keeps thinking about a reversal while veteran would think, oh, good, it's down, then it's down, he won't think about a reversal most of the time.

Veteran traders don't buy low and sell high? I see professional volume come in at every single major low that has ever been in the market, so yes, veteran traders buy on down days. They scale in on the way down because their orders are too huge to execute at once for an efficient transaction and avg price.

[debossman08]

too bad, the more drop, the less look like a back test of the previous low. the market is too weak to find a base.

Previous low? Was not it in April? 1300ish?

I mean the morning low. it's the normal pattern to back test the morning low then reverse. that's why I'm commenting bar by bar now. just the more the drop below the morning low the less likely there's a reversal. for now, a reversal is still possible but chances are becoming lower and low.

Thanks for the deeper insight Cobra. This helps me learn. (also. Thanks for the question for Cobra to add insight into his comment earlier.)

[99er]

Crude
Update.
http://99ercharts.blogspot.com/2011/06/crude_02.html

[99er]

Gold
Update.
http://99ercharts.blogspot.com/2011/06/gold_02.html

[Cobra]

testing EMA20. A trick here I'd like to see is, a L2 short then failed trapping all the DT bears.

[99er]

Silver
Update.
http://99ercharts.blogspot.com/2011/06/silver_02.html

[Cobra]

well, indeed L2 short. A failed L2 short would be a encouraging sign for bulls (and ultimately for bears as well), let's pray...

[BullBear52x]

boring, got buy order in at 3 pennies below LOD. I'll be BAAAck, after lunch there should be good action then or short on if fail this time.

[BullBear52x]

well, indeed L2 short. A failed L2 short would be a encouraging sign for bulls (and ultimately for bears as well), let's pray...

Great mind think alike I didn't see your chart post first ooopz.

[cletus]

More studies on seasonality.

I studied the days of the week for the last few months.

Bearish days: Monday, Tuesday
Bullish days: Thursday, Friday
Neutral: Wednesday

So if that trend holds we could see a rally into tomorrow's close and weakness early next week.

[cletus]

Cotton heading higher into the cycle turn as predicted by one of my paths here.

[99er]

DX
Update.
http://99ercharts.blogspot.com/2011/06/dx.html

[cougar]

Cletus: I am interested in palladium and actively trade it.
Got any views on it?

[Cobra]

indeed a failed l2, forcing bears to cover therefore sharp rebound. good. now let's see how this rebound go.

[debossman08]

More studies on seasonality.

I studied the days of the week for the last few months.

Bearish days: Monday, Tuesday
Bullish days: Thursday, Friday
Neutral: Wednesday

So if that trend holds we could see a rally into tomorrow's close and weakness early next week.

thanks for the insight Cletus. Would be helpful.

[alvian33]

so cobra you expect another low before a real rebound?

[shumushu]

Some serious short covering right now.

[99er]

30-Year Bond
Sorry, Ben.
http://99ercharts.blogspot.com/2011/06/30y.html

[uempel]

Visualization of how to use a grid for a DT (close happend to be Fib retracement too...):

[cletus]

Cletus: I am interested in palladium and actively trade it.
Got any views on it?

Do you trade PALL? My studies on commodities involve a lot of work with fibonacci, cycles and moving averages that take hours to put together, so I would need some time to study it.

I looked at PALL and find it interesting because it is not moving with other metals. This looks like another good one to trade!