06/30/2011 Intraday Watering

[bbc]

VIX is down 24% !!!!!!

Oopss...sorry that was the weekly chart.
but down 7% today . wow!

Yes. I took a position in VXX as there is a tiny positive divergence. Gotta be good for a bounce.

vxx is all time low now, but it's decaying, I won't hold it long,

Yes. The RSI bounce trade I never hold more than 3 days. It's been wrong before and there's a tiny chance we have a big up day tomorrow on 1st of month seasonality, but we all know everyone is leaving for vacation early and volume will be light so it's seems safe to assume the buying will now finally slow down.

I was asking seasonality of July 1st, do you have it?

[rhight]

According to this chart, SPY is currently en route to the MOON!


very nice picutre

it looks like one happy and moon.

Here's my moon cycle chart - just happens to be working lately - but not always . . .

BTW, is there a pattern call "4 white soldiers"?

[StrikePrice]

there are several points that invalid your assumption:

1. big traders not always know news before us.
2. they could manipulate the price pattern, 4 weeks or more, there are manipulated sell-off before Friday noon to trigger many long orders stop, then it rebounced even more in the afternoon with good news. a -5% in the morning and +5% in the afternoon. And it happened a lot with many futures.

I guess you misunderstood me a bit, I did not say I will try to guess the news, I am using a quantitative approach exclusively, all I said is when there is no
*hint* in the price pattern, if I have to trade this risk high, reward high scheduled events, I will place stop to enter order on both sides.

So time, it will be stopped in with the wrong direction

If you're a qunat you should read about the August 2007 quant meltdown. Really interesting stuff. Proves how the big players can "fool" markets. No time to go into things here, but there are many good books about it now.

[Bencat]

the up-moving is too strong? may say HH ahead if there is pullback soon.

[StrikePrice]

VIX is down 24% !!!!!!

Oopss...sorry that was the weekly chart.
but down 7% today . wow!

Yes. I took a position in VXX as there is a tiny positive divergence. Gotta be good for a bounce.

vxx is all time low now, but it's decaying, I won't hold it long,

Yes. The RSI bounce trade I never hold more than 3 days. It's been wrong before and there's a tiny chance we have a big up day tomorrow on 1st of month seasonality, but we all know everyone is leaving for vacation early and volume will be light so it's seems safe to assume the buying will now finally slow down.

I was asking seasonality of July 1st, do you have it?

Seasonality can be found on Cobra's Blog.

http://cobrasmarketview.blogspot.com/

[Bayern]

the up-moving is too strong? may say HH ahead if there is pullback soon.

It seems there's a target of 120 in their mind as it seems any down move is bought up immediately.

[Cobra]

if L1 next bar, then could see a pullback here. overall, the up momentum is strong, bears better don't fight.

[bbc]

there are several points that invalid your assumption:

1. big traders not always know news before us.
2. they could manipulate the price pattern, 4 weeks or more, there are manipulated sell-off before Friday noon to trigger many long orders stop, then it rebounced even more in the afternoon with good news. a -5% in the morning and +5% in the afternoon. And it happened a lot with many futures.

I guess you misunderstood me a bit, I did not say I will try to guess the news, I am using a quantitative approach exclusively, all I said is when there is no
*hint* in the price pattern, if I have to trade this risk high, reward high scheduled events, I will place stop to enter order on both sides.

So time, it will be stopped in with the wrong direction

If you're a qunat you should read about the August 2007 quant meltdown. Really interesting stuff. Proves how the big players can "fool" markets. No time to go into things here, but there are many good books about it now.

i've read and thanks

[dr659]

6 pages already today on this blog( 11:00), orgasms on CNBC ,Are we nearing a pullback of some kind ?

[AK84]

6 pages already today on this blog( 11:00), orgasms on CNBC ,Are we nearing a pullback of some kind ?

[Cobra]

no L1, so no sign of pullback, let's wait the next bar. again bears don't fight.

[alvian33]

cobra do you see the long tail on spy?

[reza]

Alphahorn:
Do you mind sharing your setting for panel3-5? Is it proprietary?
Thanks.

I swing trade, can't sit in front of the computer all day, my SPY system has triggered 17 trades for the SPX since September 2010. A lot of people don't like indicators, I don't really either, so I made my own

[cheech]

there are several points that invalid your assumption:

1. big traders not always know news before us.
2. they could manipulate the price pattern, 4 weeks or more, there are manipulated sell-off before Friday noon to trigger many long orders stop, then it rebounced even more in the afternoon with good news. a -5% in the morning and +5% in the afternoon. And it happened a lot with many futures.

I guess you misunderstood me a bit, I did not say I will try to guess the news, I am using a quantitative approach exclusively, all I said is when there is no
*hint* in the price pattern, if I have to trade this risk high, reward high scheduled events, I will place stop to enter order on both sides.

I think you believe all information you need for trading is price,volume, that's debatable right? when it comes to belief, I have no opinion on that:D

So time, it will be stopped in with the wrong direction

Fair enough. But I just made 50% in a few minutes on UNG calls, so I guess it doesn't matter. lol

[cheech]

no L1, so no sign of pullback, let's wait the next bar. again bears don't fight.

Bears should be fighting here. Sell high buy low. That's what professionals do.

[uempel]

If 1320 breaks SPX might go up to 1330 ...

[ctu688]

if L1 next bar, then could see a pullback here. overall, the up momentum is strong, bears better don't fight.

Hi Cobra,

You mention L1, L2 and stages of push. Is there some reading in regard? I am short of reading list. Thanks

[uempel]

no L1, so no sign of pullback, let's wait the next bar. again bears don't fight.

Bears should be fighting here. Sell high buy low. That's what professionals do.

cheech, so you are a professional...

[barbaragull]

no L1, so no sign of pullback, let's wait the next bar. again bears don't fight.

Bears should be fighting here. Sell high buy low. That's what professionals do.

Seems like people just don't believe the market can ever go lower

[99er]

Updates

Gold http://99ercharts.blogspot.com/2011/06/gold_30.html
Silver http://99ercharts.blogspot.com/2011/06/silver_30.html
Crude http://99ercharts.blogspot.com/2011/06/crude_30.html