06/13/2011 Intraday Watering

[Cobra]

a bullish set up for EDZ is confirmed.

Impressive calls. Thanks for your input on this board.
A

Thanks to everyone here also, lots of good idea and too many to name. this week is my short week going camping, might make it back to trade on Friday.

be careful of bear attack. make sure you run faster than others.

[soku]

it's still too early to conclude. i think the dynamic defense line is arund 1264.5-1265.5. only if bears can materially take the area.

[tegra]

it might gap up tomorrow.

[Cobra]

hard to call, could be a breakdown then pullback to test the breakdown point, but no time now, so guess that's it for today. thank you guys, i'll see you tomorrow. by the way, today's pattern still looks like that 9 out of 11 cases when SPX down on Friday, the next Monday is not necessarily in red, but all 9 cases seemed to have more on the downside, not big down though.

[BullBear52x]

[/quote]


Impressive calls. Thanks for your input on this board.
A[/quote]

Thanks to everyone here also, lots of good idea and too many to name. this week is my short week going camping, might make it back to trade on Friday. [/quote]

be careful of bear attack. make sure you run faster than others. [/quote]

[pidge66]

On 5-min SPY: Up tilt flags mean bearish; down tilt flags have less choice but bullish; if we keep our reading consistent (don't mean market is).

At what point does a flag fail to become a flag, but a channel with the new trend? Is there any general rules of thumb for this? E.g. no break within 20 bars, etc. (I'm just pulling from the air). I'm asking this because theoretically the "bear flag" could go all the way to S&P 1300... of course it would long gone be called a bear flag.

"On 5-min SPY". Isn't that the same time frame as Cobra's using. Maybe he has different answer for you. For me that's it, sorry, as I've defined it for my point of view and my chart as well.

One example: Is LNG still considered (bull-)"flagging"? At one time it certainly was. Does it no longer qualified as such? TIA.

[90ufo]

Thanks, Cobra and everyone!

[Roadrunner]

thanks again Cobra

[DaWay]

At what point does a flag fail to become a flag, but a channel with the new trend? Is there any general rules of thumb for this? E.g. no break within 20 bars, etc. (I'm just pulling from the air). I'm asking this because theoretically the "bear flag" could go all the way to S&P 1300... of course it would long gone be called a bear flag.

"On 5-min SPY". Isn't that the same time frame as Cobra's using. Maybe he has different answer for you. For me that's it, sorry, as I've defined it for my point of view and my chart as well.[/quote]

One example: Is LNG still considered (bull-)"flagging"? At one time it certainly was. Does it no longer qualified as such? TIA.[/quote]
Fair enough, I saw it, I'll answer this specific since you defined it with enough relativity for me. (Not kidding, big word as Einstein'd like to use but it's everyday trading related perspectives).

You used daily so am I. "Flag" works better with length of "flag pole": longer the pole the better it performs as desired direction (no pun intended). In this chart I posted for you, put into perspective, only TWO predominant patterns shows up, as you can see. YOUR bull flag maybe once was a bull flag, not anymore when it pulled back into the predominant formation. That's how I read charts, FWIW, hope it helps.

Well, one more, if price breaks above the last TL, that enters into new territoy, like in GO GAME break out.

[pidge66]

You used daily so am I. "Flag" works better with length of "flag pole": longer the pole the better it performs as desired direction (no pun intended). In this chart I posted for you, put into perspective, only TWO predominant patterns shows up, as you can see. YOUR bull flag maybe once was a bull flag, not anymore when it pulled back into the predominant formation. That's how I read charts, FWIW, hope it helps.

lng06132011.PNG

Well, one more, if price breaks above the last TL, that enters into new territoy, like in GO GAME break out.

Thanks. Nice chart.

[wxstone]

Today's Bullet Points:

* Goldman says to short natural gas. Related to that flash crash perhaps? Therefore, we look to exit our natural gas put options if nat gas hits 4.50 because Goldman appears to have hinted at that price by manipulating the crash

* Today's cycle turns are 10 EST, 12:45 EST and 3:30 EST. With so many turns, you would think it would be a range oriented day

hi,Cletus.How to predict cycle turn?