06/08/2011 Intraday Watering

[Cobra]

Small gap down, but below yesterday's low, so not sure if the gap will get filled or not. We'll have to wait and see. A little consolidation below the breakdown point would be very bad while on the other hand sharply rebound would be very good for bulls.

[AK84]

Good Morning Cobra!!

[alphahorn]

me thinks a green close today

[FJoe]

Just seems not normal we would go straight down to 1250 (if that is where we are going) without a 20-30 point bounce first. Is the overnight action similar to 5/2 where it traded up overnight and opened well off the highs...and then 5/25 where it traded down overnight and opened well off the lows. Similar, thought not as big to those days.

[99er]

Good Morning.
A six and an eight...lucky numbers!
ES: http://99ercharts.blogspot.com/2011/06/es_08.html
Expecting a possible bounce around 1270.

[cletus]

I'm putting a short on nat gas and watch for some extremely bullish action in crude the next few sessions.

[cougar]

Good morning Cobra!
SPX: the kiss of death happened yesterday before the Bernank delivered his fuzzy and ambiguous speech….
The written version of the speech was already in the hands of the banksters and subjected to a “content embargo”…LOL!
There is some talking around that a fixing of the damage should be expected today!

[90ufo]

cletus: how is your signal for SPX, yesterday was confirmed bullish, how about now?

[cougar]

Selling IWM. Fast RENKO:

[PurpleRosesLover]

Cobra , I have a question about your statistics for IWM weekly Bearish Engulfing:
http://lh6.ggpht.com/-dCEJd-JqBuk/TerJM ... 25255D.png
Your statistics in the table says “hold for 1.5 weekly bars, we win 11 times out of 11 times.”
What does “holding for 1.5 weeks” mean?
For example, if I shorted SPY @ 130.42 at last Friday (June 3) close, by definition of 1.5 bars,
does it mean:
A) I close position at any time during next next week (during June 13 and June 17)?
Or does it mean:
B) I close position on exact Wednesday next next week which is June 15?
Thanks !

[cletus]

Watch for a turn higher in cotton in the next few days. Could be a great trade as this thing moves.

[99er]

EURUSD
The Euro?
http://99ercharts.blogspot.com/2011/06/eurusd_08.html
Not so lucky.

[cougar]

SPX weekly: a bearish crossover.

[StrikePrice]

Good way to see which way Futures are going into the open.

http://algofutures.com/wow-indices/wow- ... ing-chart/

[Cobra]

Cobra , I have a question about your statistics for IWM weekly Bearish Engulfing:
http://lh6.ggpht.com/-dCEJd-JqBuk/TerJM ... 25255D.png
Your statistics in the table says “hold for 1.5 weekly bars, we win 11 times out of 11 times.”
What does “holding for 1.5 weeks” mean?
For example, if I shorted SPY @ 130.42 at last Friday (June 3) close, by definition of 1.5 bars,
does it mean:
A) I close position at any time during next next week (during June 13 and June 17)?
Or does it mean:
B) I close position on exact Wednesday next next week which is June 15?
Thanks !

That 1.5 week is just an average: some cases the IWM down straight for 2 more weeks but some cases the IWM up one more week then down 2 weeks in a row, so on average it's 1.5 meaning not necessarily the next week. By the way, the software treat that 2 weeks down in a row as one weekly bar, so that's why you see 1.5 weekly bar instead of 2.5 or 3 weekly bar something - just let you know that nothing wrong here.

[HK88]

ChiOsc on daily SPY is lowest since last July dip...

[Roadrunner]

cletus - i am short NG as well .. but will cover before the inventory report, which I suspect will be very bullish since some areas of the country have heat waves - and we love our air conditioning

[Cobra]

the open.

[cletus]

LOOK AT CRUDE RUN

[agnosia]

oh man the opec gods have helped this morning... got long 98.70... now at the weekly pivot so i sold 100.58... wow.

the spread is a record levels - brent over 118 ..

http://www.futurespros.com/energies/bre ... ming-chart