08/03/2011 Intraday Watering

[KENA]

Long NFLX a few min ago. Lets see.

i got long nflx today. 251 was a great spot to buy but i obviously bought higher

Yes..I think this may better then the indexes for a day or two.The mkt may go dn again.

[General doofus]

S&P RSI just broke below 30 for the first time since March 2009. It has broken that level 6 times since Jan 2007.

After each occurrence, S&P finished up 1 month later - even during 2008.

[Cobra]

could see a rebound of some kind here, then we will see.

[Anaconda]

Long NFLX a few min ago. Lets see.

i got long nflx today. 251 was a great spot to buy but i obviously bought higher

Yes..I think this may better then the indexes for a day or two.The mkt may go dn again.

Pure momentum stock, gents. I can see why it would be interesting at another time. But, given the current macro environment, do you think risky plays like this are wise? I took a speculative flyer and bought deep out of the money Sept. puts (at $175 strike).

GL.

[AK84]

anyone know what happened to ALPHA_M ?

Is he alive?? been trying to contact him all day ! Hope he is not in the Bearrrr Cageeee

[KENA]

Long NFLX a few min ago. Lets see.

i got long nflx today. 251 was a great spot to buy but i obviously bought higher

Yes..I think this may better then the indexes for a day or two.The mkt may go dn again.

Pure momentum stock, gents. I can see why it would be interesting at another time. But, given the current macro environment, do you think risky plays like this are wise? I took a speculative flyer and bought deep out of the money Sept. puts (at $175 strike).

GL.

I have been following NFLX for long,long time..It is below its channel now on up trend..But yes it is riskey but may be good for a couple days.

[AK84]

Long NFLX a few min ago. Lets see.

i got long nflx today. 251 was a great spot to buy but i obviously bought higher

Yes..I think this may better then the indexes for a day or two.The mkt may go dn again.

Pure momentum stock, gents. I can see why it would be interesting at another time. But, given the current macro environment, do you think risky plays like this are wise? I took a speculative flyer and bought deep out of the money Sept. puts (at $175 strike).

GL.

Purely a swing trade opportunity. Weekly looks like a bull flag. Im using options so its nothing more than a 3-4 day trade. well defined stop at 250. Risk/Reward ratio is nice

[BullBear52x]

Intraday line in the sand, intraday sell now triggered OOpsz1 no trade today just charting

[Cobra]

hmm, no rebound, at least I was right about the retest of the morning low. Let's see how strong this retest is before making the next call.

[agnosia]

well guys i am the first one to admit i was wrong. lost 25 ES points over the last few days but we all got to admit this downdraft was much much bigger than anything we've seen + were expecting. next obvious support is near 1220 /es... hope you bears made a killing , it's about time. lol. it might be time to re-think the buy the dip mentality that has made me tons of cash over the last two years...

[BullBear52x]

I am taking a break now, will be back I got the feeling that some big move is in the making, I will get back to take side before the close.

[Cobra]

Hi all, I just signed up for intra-day today, hope to start making regular comments here. Cobra has my favorite tech blog on the web, I sometimes post as Guest11235 in his after hours posts but would like to be active here during the day when I have time. anyway, thanks for letting me in Cobra, and than you for your awesome site.

@cougar,

thanks for your effort on the wave count but I'm not sure your labels are correct

Where you have your yellow 5 marked that would appear to be a three wave move or corrective, same thing on your purple 1 down, that does not appear to be a five wave move at various degrees of trend from what I can see and so I do not think the 1-2-3 count will prove correct, but time will tell

good luck to you

welcome aboard.

[richer]

hmm, no rebound, at least I was right about the retest of the morning low. Let's see how strong this retest is before making the next call.

Cobra,

It is great call. very impressive. Thanks.

[oldpigwang]

Cobra: How did u know at that junction(8:30am Et), mkt is going down to test morning low?
That junction could continue up after a little pull back. But it listened to u. hw did u predicted it?

[rpccharts]

Mike Paulenoff on SILVER 12:15pm

[Me XMan]

You can't ask the Wizard to share his secrets!

Cobra: How did u know at that junction(8:30am Et), mkt is going down to test morning low?
That junction could continue up after a little pull back. But it listened to u. hw did u predicted it?

[Cobra]

tough call here, so I'll wait. just no harm to know if this is a Measured Move, where the target will be.

[Cobra]

Cobra: How did u know at that junction(8:30am Et), mkt is going down to test morning low?
That junction could continue up after a little pull back. But it listened to u. hw did u predicted it?

common pattern plus market sense.

[hemlock21]

May have been mentioned, but the low today was 1234.56 on SPX. Could they be that manipulative ??

[Anaconda]

May have been mentioned, but the low today was 1234.56 on SPX. Could they be that manipulative ??

Not sure what your point is?