07/11/2011 Intraday Watering

[Cobra]

H1, I see double bottom here, so should be more rebound...

[Cobra]

tinted area as text book target.

[agnosia]

long 94.80 on /cl

staying long for 96.20 gap fill

[Mr. BachNut]

Cobra,

A little off-topic question, but I didn't know where to post.

I read over your Cobra Impulse System notes over the weekend and wondered how you did your backtesting. For trade prices, did you use the close on the day of the signal, the open the day following the signal or something else? Just wondering.

Thanks.

The software cannot test exact price, so I have to use mid price for entry and exit, otherwise the model can be very precise about entry and exit price. I've explained this before. I'll write a specific post for all kinds of details about the model later.

Mid price for the day following signal. Correct?

[uempel]

I just bought ES @ 1223.50

Hi DT, now you're impatient...

Just checked on an hourly chart with special indicators, very short term 1327 might be more important than I first thought...

[cougar]

I just bought ES @ 1223.50

Wow. You have that much confidence in the markets, eh?

Anaconda: I have less confidence in the market, but enough to sell (to open) IWM Jul 83 puts, with a strike under a reasonable support (~ 83.6).
Holding Aug 85 puts, bought Fri at close…

[Dow Trader]

I just bought ES @ 1223.50

Hi DT, now you're impatient...

Hi Uempel,
I am patient but you know me, when I see a good deal I don't let it go

[Cobra]

Cobra,

A little off-topic question, but I didn't know where to post.

I read over your Cobra Impulse System notes over the weekend and wondered how you did your backtesting. For trade prices, did you use the close on the day of the signal, the open the day following the signal or something else? Just wondering.

Thanks.

The software cannot test exact price, so I have to use mid price for entry and exit, otherwise the model can be very precise about entry and exit price. I've explained this before. I'll write a specific post for all kinds of details about the model later.

Mid price for the day following signal. Correct?

How CI works:

There's a signal bar, when I see that, I report it to you guys.
If the next day the signal bar is confirmed, then I use the mid price as the entry price.
The exit signal mostly is stop loss, when stop loss triggered, I use mid price as exit price.

Uses mid price in the long run is fair, because sometimes you get better entry but sometimes you get worse entry by using mid price. The same for stop loss, as some times you get better exit price while sometimes it's worse.

[uempel]

uempel

Have a bottom date cycle on Thursday/Friday or so - I think we might see some nice panic this week in markets....

VIX chart looks bullish + lots of short ETF's , which means markets have a good chance heading lower near term.

Options expiry on Friday, anything can happen...

[Anaconda]

I just bought ES @ 1223.50

Wow. You have that much confidence in the markets, eh?

Anaconda: I have less confidence in the market, but enough to sell (to open) IWM Jul 83 puts, with a strike under a reasonable support (~ 83.6).
Holding Aug 85 puts, bought Fri at close…

That's a pretty brave move. I wish you good luck with that, though. I'm uncharacteristically neutral on equities, right now. I worry we could go either way, short term. Longer term, I hold September ETF puts on the major indices. My bigger play short term is for silver to tank.

Good trading!

[BullBear52x]

TICKQ registered lo: -1492 if price of Qs trades to new LOD the selling will become dumping panics, fade the tick doesn't look good now.

[agnosia]

long 94.80 on /cl

staying long for 96.20 gap fill

scratch that , taking profits here 95.80... for +1... don't like /es or euro action

[lostlamb98]

How do you decide mid price?

Cobra,

A little off-topic question, but I didn't know where to post.

I read over your Cobra Impulse System notes over the weekend and wondered how you did your backtesting. For trade prices, did you use the close on the day of the signal, the open the day following the signal or something else? Just wondering.

Thanks.

The software cannot test exact price, so I have to use mid price for entry and exit, otherwise the model can be very precise about entry and exit price. I've explained this before. I'll write a specific post for all kinds of details about the model later.

Mid price for the day following signal. Correct?

How CI works:

There's a signal bar, when I see that, I report it to you guys.
If the next day the signal bar is confirmed, then I use the mid price as the entry price.
The exit signal mostly is stop loss, when stop loss triggered, I use mid price as exit price.

Uses mid price in the long run is fair, because sometimes you get better entry but sometimes you get worse entry by using mid price. The same for stop loss, as some times you get better exit price while sometimes it's worse.

[Sqwii]

VIX looks ready to rip higher with all short ETF's. SPX daily chart looks pretty nasty to me - lets see what happends after Obama... talk

[99er]

SPX
Check out the MACD Histogram.
http://99ercharts.blogspot.com/2011/07/spx_11.html

[Cobra]

although text book target not met, but I wouldn't say it's a failed double bottom, a good scalp at least. Now OR low broken, I'll give you the next target in the next post.

[BullBear52x]

SPX
Check out the MACD Histogram.
http://99ercharts.blogspot.com/2011/07/spx_11.html

99er, can you post copper? TIA.

[Cobra]

tinted area as text book target, 75% chances.

[99er]

BB52X:

How would you like it?
Time frame and indicators?

[uempel]

SPX should bounce at 1320, it's the 13 MA on the weekly and usually it works...