03/04/2011 Intraday Watering

balance · Post by **balance** » Fri Mar 04, 2011 11:26 am

notice the chart was made yesterday around 3pm...
Whether it will be a straight line, I don't know. But, by Wolve wave, it needs to have the 2nd leg lower than the 1st one to go long.

yesterday there's also someone pointing out all the pullbacks in since the March low, and say "what's the difference".
If you looked carefully, they ALL have a second leg, lower, or at least equal to the 1st. so ..

FWIW..

simpletrader · Post by **simpletrader** » Fri Mar 04, 2011 11:27 am

intraday only, I guess it is the gap bottom from yesterday.

Post by **Cobra** » Fri Mar 04, 2011 11:28 am

Support. But if any rebound, should be more down. Remember an important top is reversal of reversal of reversal, so a big down day today would give bears lots of hopes while bulls should be careful.

simpletrader · Post by **simpletrader** » Fri Mar 04, 2011 11:32 am

Cobra wrote:Support. But if any rebound, should be more down. Remember an important top is reversal of reversal of reversal, so a big down day today would give bears lots of hopes while bulls should be careful.

1hr down erases all yesterday gain. and not sure if the gap support works or not.

Post by **Cobra** » Fri Mar 04, 2011 11:35 am

simpletrader wrote:
Cobra wrote:Support. But if any rebound, should be more down. Remember an important top is reversal of reversal of reversal, so a big down day today would give bears lots of hopes while bulls should be careful.
1hr down erases all yesterday gain. and not sure if the gap support works or not.

Well, we all know the rebound target will be now:

jungle · Post by **jungle** » Fri Mar 04, 2011 11:39 am

oh...............p------------------barrrrrrrrrrrrrrrrrrrrrrrrrrr

jasmine · Post by **jasmine** » Fri Mar 04, 2011 11:42 am

cobra, what is your suggestion for revisit the low on 22nd? do you think that could happen? it seems we already got hl hh in daily charts. thanks!

Post by **Cobra** » Fri Mar 04, 2011 11:46 am

jasmine wrote:cobra, what is your suggestion for revisit the low on 22nd? do you think that could happen? it seems we already got hl hh in daily charts. thanks!

Not sure if we'll have 2nd leg down or not. Let's see how today closes. Overall, I don't believe the market will go much much higher like SPX 1500 because of the oil is already too high (without mid east, the oil will pass $100 anyway). The question is where and when the top is. Still very hard to say.

Post by **Cobra** » Fri Mar 04, 2011 11:51 am

L1 short, not sure if it's a good idea.

Traderwill33 · Post by **Traderwill33** » Fri Mar 04, 2011 11:53 am

Cobra- I just want to say how much I am really getting out of your message board. I do not even sign in all the time but I am here everyday. I will try and be more vocal but just wanted let you know you are appreciated. No need to reply.... keep up the great work. Will

balance · Post by **balance** » Fri Mar 04, 2011 11:55 am

Remember today's also weekly OpEx, lots of put/calls at stake here.

EkOnkaar · Post by **EkOnkaar** » Fri Mar 04, 2011 11:58 am

Not any more..looks like a double bottom breakout back to resistance?

Cobra wrote:L1 short, not sure if it's a good idea.

Post by **Cobra** » Fri Mar 04, 2011 11:59 am

Traderwill33 wrote:Cobra- I just want to say how much I am really getting out of your message board. I do not even sign in all the time but I am here everyday. I will try and be more vocal but just wanted let you know you are appreciated. No need to reply.... keep up the great work. Will

Thanks. Glad to know.

Post by **Cobra** » Fri Mar 04, 2011 12:01 pm

EkOnkaar wrote:Not any more..looks like a double bottom breakout back to resistance?

Cobra wrote:L1 short, not sure if it's a good idea.

I won't short L1 anyway. Let's see how L2 turns out to be.

jasmine · Post by **jasmine** » Fri Mar 04, 2011 12:02 pm

Cobra wrote:
jasmine wrote:cobra, what is your suggestion for revisit the low on 22nd? do you think that could happen? it seems we already got hl hh in daily charts. thanks!
Not sure if we'll have 2nd leg down or not. Let's see how today closes. Overall, I don't believe the market will go much much higher like SPX 1500 because of the oil is already too high (without mid east, the oil will pass $100 anyway). The question is where and when the top is. Still very hard to say.

收到, if todays' lower than yesterday will not good for bull? thanks!

Post by **Cobra** » Fri Mar 04, 2011 12:03 pm

jasmine wrote:收到, if todays' lower than yesterday will not good for bull? thanks!

No, not good for bulls. If small red or green today, then we'll see new high, but still intermediate-term is hard to say.

BullBear52x · Post by **BullBear52x** » Fri Mar 04, 2011 12:05 pm

failed Triangle break out, bottom of Triangle most likely will be tested.

jasmine · Post by **jasmine** » Fri Mar 04, 2011 12:07 pm

[quote="Cobra:]No, not good for bulls. If small red or green today, then we'll see new high, but still intermediate-term is hard to say.[/quote]
got it,

Dow Trader · Post by **Dow Trader** » Fri Mar 04, 2011 12:09 pm

I am done trading today.. 60 points from shorting Dow and from long Oil $0.90 ( I told you at the opening that this trade hard to loss in friday while Gaddafi in power)

" I love VIX when it is above 18 "
good luck for all

Post by **Cobra** » Fri Mar 04, 2011 12:09 pm

I saw in my Chinese forum, people are talking about shorting L2 at EMA20, well, good short.

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03/04/2011 Intraday Watering

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