08/26/2011 Intraday Watering

[jaaawf]

Tough week news wise for TA. We had Buffett and BAC, Earthquake, Jackson Hole Speech, Hurricane. That's an awful lot and I am probably forgetting something. You've navigated it well this week Cobra...thanks!

[Cobra]

could be a small H&S top here, target as illustrated. more often then not H&S top/bottom would fail, well, that's my last hope, I'm soooooooo disappointed. Really I am.

[pablorynx]

breakdown short, with your green line as stop

[newbie_77]

could be a small H&S top here, target as illustrated. more often then not H&S top/bottom would fail, well, that's my last hope, I'm soooooooo disappointed. Really I am.

cobra,
you have done very good.

please do not be disappointed. at least i am getting a great teacher for free

today being op-ex for the weekly ( a little bit of manipulation is causing this discrepancy outside of your forcast movement... )

[Be4chst]

I Noticed you guys don't follow NASDAQ, however, does anyone are to share their thoughts on why NASDAQ is showing a greater % increase than Dow and s&p?

[Cobra]

Tough week news wise for TA. We had Buffett and BAC, Earthquake, Jackson Hole Speech, Hurricane. That's an awful lot and I am probably forgetting something. You've navigated it well this week Cobra...thanks!

thanks. glad someone paid attention that indeed TA works. News doesn't matter. The reason I'm saying this is someone in my Chinese forum are complaining again that TA doesn't work. Well, everyone knows I'm purely TA and it does work. Tradings on the other hand is different because besides TA, there's a more difficult part which is EMOTION. I still cannot put my emotion away and that's why I'm still poor.

[wower]

Tough week news wise for TA. We had Buffett and BAC, Earthquake, Jackson Hole Speech, Hurricane. That's an awful lot and I am probably forgetting something. You've navigated it well this week Cobra...thanks!

thanks. glad someone paid attention that indeed TA works. News doesn't matter. The reason I'm saying this is someone in my Chinese forum are complaining again that TA doesn't work. Well, everyone knows I'm purely TA and it does works. Tradings on the other hand is different because besides TA, there's a more difficult part which is EMOTION. I still cannot put my emotion away and that's why I'm still poor.

Second that.

[fuddleduddle]

All in all, headfake week galore. You've navigated this week very well, Captain Cobra.

[KENA]

All of the indexs are in the green but UTIL has been red all day.Util is the safe harbor where everyone flocks to when they expect a turn to the bad. Someone is selling.Do they know something we don't.It is worth watching.maybe next week will not be very good.We will just have to wait and see.Anyone know any more?????

[Cobra]

the bigger picture, it's still bull flag, so maybe we'll see anther push up the next Monday. but the bigger bigger picture it's Triangle and eventually will breakdown. I hope you get the whole picture. Today's action only proves this is just a rebound, not a start of a new bull market.

[cougar]

QLD : a ”Pinocchio wave” above the octave seems to have marked the short term top.

[pablorynx]

I Noticed you guys don't follow NASDAQ, however, does anyone are to share their thoughts on why NASDAQ is showing a greater % increase than Dow and s&p?

AAPL
MSFT
QCOM
AMZN
EBAY
BIDU

don't forget everyone's favorite momo name GMCR

nasdaq has outperformed the SPX by about 6.3% since mid jun. In the month of august, it's still OPed the SPX by 0.38%, which is mind boggling if you think about the volatility we've had in august. I think it's a function of large cap tech being seen as a safe haven. Clean balance sheets, lots of cash. last couple days have been about AAPL tho.

[zudec]

I sold my utilites today b/c they had large installations on east coast. I was worried about nuke trouble or just excessive cost to recover after storm. After Ike, the utilities in gulf coast got hammered with operational losses.

[pezhead9000]

the bigger picture, it's still bull flag, so maybe we'll see anther push up the next Monday. but the bigger bigger picture it's Triangle and eventually will breakdown. I hope you get the whole picture. Today's action only proves this is just a rebound, not a start of a new bull market.

message was received: waiting patiently

[KENA]

I Noticed you guys don't follow NASDAQ, however, does anyone are to share their thoughts on why NASDAQ is showing a greater % increase than Dow and s&p?

.AAPLE is the big % for the NAS.This may be why.

[newbie_77]

looks like they will pin the expiration to 118

[Cobra]

back testing the neck line, but I won't hope much for bears, yes, that's right, bears. H&S RARELY works, so I'm not surprised a strong rebound till the close especially I closed all my day longs because I was so disappointed. The market usually turns when I close all, just to make me more upset.

[Be4chst]

Thought I'll contribute:
Today's volume in NASDAQ and S&P are both lower than yesterday's. Strictly from a price and volume perspective up days with low volume don't exhibit strength. I'm still holding on to my position in SQQQ.
Just my 2 cents.

[Cobra]

multiple resistances here, but I won't count on it.

[Tabby]

Anyone wants to bet on oil?
If hurrican affects oil refineriers productions due to shut down, could shut down affect oil prices and stocks? Do we have oily people?
BTW Cobra, you have not saying ole, ole,ole lately.