08/08/2013 Live Update

[Cobra]

no sharp pullback yet, so still could be Ascending Triangle.

[joegamma]

Anyone got a feeling for UCO?? 5th wave up??? Usually fills gaps....

You will be betting against my short UCO

Harapa the model master see any downward turns for I/T and L/T models at tradingforlife?
you've done great work building that up, fwiw

[fehro]

NUGT had nice move today... overall bigger Pink triangle?

[Harapa]

Anyone got a feeling for UCO?? 5th wave up??? Usually fills gaps....

You will be betting against my short UCO

Harapa the model master see any downward turns for I/T and L/T models at tradingforlife?
you've done great work building that up, fwiw

At the moment all ST models/setups are on the long side of the market (last one of the three in this group turned to buy side at 3PM EST).
IT models have been on long side since Jul 8th.

[knock]

we no longer have 10+ pages on this forum any more.

[TraderGirl]

Anyone got a feeling for UCO?? 5th wave up??? Usually fills gaps....

You will be betting against my short UCO

I am not familiar with your system, but your "Super Trend" is getting a higher low on lower low in price...??

Possible for a pullback...but also check out Stochs...in buy zone in past...

[TraderGirl]

The 5 minute shows a potential channel...and also potentially 5 waves up?? so a break out above channel is most likely bullish in the short term....

[Mr. BachNut]

Partial Short. Covered half yesterday when the down P-bars got tagged. Holding the other half for now.

My summation index signal is down.
My composite trend indicator signal is up.

There is still some room to my stop and I have a bit of profit cushion from yesterday.
I'd like to let this play out a bit more but won't want to fight the trend too much.

[Harapa]

Anyone got a feeling for UCO?? 5th wave up??? Usually fills gaps....

You will be betting against my short UCO

I am not familiar with your system, but your "Super Trend" is getting a higher low on lower low in price...??

Possible for a pullback...but also check out Stochs...in buy zone in past...

I keep things simple; I just look for a change of color or trend line break, works for me. BTW, I got in SCO when it was at $29.18, when UCO broke a trend line. I trade off a 5 minute chart.

[Out of Bounds]

Short to cover at close

[Cobra]

members only update at 3:48 pm
http://www.cobrasmarketview.com/2013/08 ... ay-update/

[fehro]

forgot it was Thursday....
http://www.aaii.com/sentimentsurvey/sent_results

[Cobra]

well, guess that's it for today. H&S top or not, no time to check anymore, will have to wait for tomorrow. Friday has been very very bullish recently especially before the close. it's like people are always betting very very good news in the weekend (probably betting more bailout or stimulus news, how ironic it is!) therefore rush to buy and cover before the close and in the AH.

Thank you guys, I'll see you tomorrow.

before the close, please take a little time to vote for me, thanks. http://stockcharts.com/public/1684859/tenpp

[Out of Bounds]

Closed short minimal profit.

[TraderGirl]

Anyone got a feeling for UCO?? 5th wave up??? Usually fills gaps....

You will be betting against my short UCO

I am not familiar with your system, but your "Super Trend" is getting a higher low on lower low in price...??

Possible for a pullback...but also check out Stochs...in buy zone in past...

I keep things simple; I just look for a change of color or trend line break, works for me. BTW, I got in SCO when it was at $29.18, when UCO broke a trend line. I trade off a 5 minute chart.

Nice execution...quite possible it does not make a new low...but gaps are concerning...