07/11/2011 Intraday Watering

[uempel]

I like using MA 13/MA9 on both the daily and weekly. Here a weekly chart with MA 13 at 1320 - for me it's a good floor for a (short term) bounce.

[cougar]

IWM is getting close to the earlier mentioned support

[Sqwii]

Daily chart on all indexes is on sell signal , we might bounce , but should be shortable imo.

I think we will feel some pain this week and have a cycle bottom at Thursday or Friday this week - so could be painful if we drop like this each day and then 3rd time like a charm below MA(200)

[agnosia]

new low after 10:30am ET, so 90% chances Open > Close today. The last Friday, we had the same lower low after 10:30am ET, but the 90% chances failed as we eventually had open < close. The question is: will this 90% chance fail again? 2 days in a row?

today should be different

most likely we close LOD (low of the day), I guess simply because I partial-ed out too early.

LOL. the cobra indicator? nah you're too good a trader for that

[alvian33]

cobra, still think an accelerated car can not back down still think we make new highs? this market is crazy

[agnosia]

come on 1313.. almost there.. covering half my shorts here 1316

[Cobra]

both target have been reached, but I see more. now we're in support area.

[BullBear52x]

Little more to go

[Cobra]

cobra, still think an accelerated car can not back down still think we make new highs? this market is crazy

back test the high still is possible, it's really rare we simply tank from here. but anyway, who cares, I'm shorting now. will worry about bulls the other day.

[uempel]

I'm covering all shorts here and buying a small long position for a DT. I shall reenter shorts later.

[cougar]

Ok Uempl...Got your point!

[alvian33]

will your model be in sell after today? thanks

[cougar]

USO under support #3.
Bought back (to open) more puts, on an early bounce...

[jamesmith]

cobra, still think an accelerated car can not back down :) still think we make new highs? this market is crazy

back test the high still is possible, it's really rare we simply tank from here. but anyway, who cares, I'm shorting now. will worry about bulls the other day. :lol:

no sign of rebound at all~~ laoda made a killing today 8-)

[agnosia]

all shorts covered on /es .. long crude 94.20

[Cobra]

will your model be in sell after today? thanks

not a chance.

[rhight]

rhight:

Great chart! So informative at just one glance. StockCharts sure looks appealing as a charting tool.

Thanks.

[AK84]

will your model be in sell after today? thanks

not a chance.

just wondering why not ?
charts look bearish for short term

[Cobra]

will your model be in sell after today? thanks

not a chance.

just wondering why not ?
charts look bearish for short term

The model measures mainly breadth, it's rare for the breadth to take a sharp turn on a single day selling.

[99er]

Updates

Gold http://99ercharts.blogspot.com/2011/07/gold_11.html
Silver http://99ercharts.blogspot.com/2011/07/silver_11.html
Crude http://99ercharts.blogspot.com/2011/07/crude_11.html