03/10/2011 Intraday Watering

[Cobra]

Gap down below yesterday's range so chances are good that the gap won't be filled and a trend day today. The bigger picture, unfortunately still not clear as the price is still within the Triangle I've been blah blah those day...

[chickencoop]

morning

[nikman]

Gap down below yesterday's range so chances are good that the gap won't be filled and a trend day today. The bigger picture, unfortunately still not clear as the price is still within the Triangle I've been blah blah those day...

Goodmorning Cobra! The prices seem to falling out of the triangle at the open.

[Cobra]

NQ on the other hand looks like a breakdown of a H&S Top but still it needs to clear the prvious low around 2280. H&S Top/Bottom pattern winning rate is not very high, so bears still need to be cautious.

[Me XMan]

I'll buy this dip for food money.
Long SPY 131.05 and short SDS 21.69.

[wave]

We will see 1295 today.

[99er]

Morning.

Prices on /ES have broken down out of a Diamond Top and are headed for 1295, the lower boundary of an accelerated down channel. The target for the Diamond Top is 1242.

http://99ercharts.blogspot.com/2011/03/es_1806.html

Good luck.

[BullBear52x]

morning all, I hope we have good trend day, I play it down as per my signals. counter trend play is dangereous business

[99er]

Social Mood

Only 1 American in 7 has faith a lasting economic recovery has taken hold and a plurality say they are personally worse off than they were two years ago.

Almost half of the respondents in a Bloomberg National Poll conducted March 4-7 believe the U.S. is in a “fragile” rebound and could fall back into recession. More than a third of the country believes the U.S. never emerged from recession.

Sixty-three percent of Americans say the nation is on the wrong track, compared with 66 percent who said so in December, which was the lowest in the national mood in the one and a half years the Bloomberg poll has been conducted.

The gloomy outlook contradicts economic data showing an economy on the mend, including six quarters of economic growth, a 95 percent rise in the Standard & Poor’s 500 index over the past two years and job growth last month of 192,000. The National Bureau of Economic Research officially dated the end of the recession to June 2009.

http://www.bloomberg.com/news/2011-03-1 ... cline.html

[ahdou]

morning all, I hope we have good trend day, I play it down as per my signals. counter trend play is dangereous business

good morning 99er, very nice picture, thanks! really appreciate all of your postings!

[Cobra]

The open.

[Me XMan]

I ain't going hungry today. Buy the dip will get food on the table?

I'll buy this dip for food money.
Long SPY 131.05 and short SDS 21.69.

[Cobra]

Support.

[greenback]

SPY and IWM are right above daily ma50 ...

[Cobra]

So far strong start. Remember my rule: Sharp gap down, new intraday low after 10:30am ET, then 90% chances Close < Open. Trading is not for a smart person who when sees the market down always thinking of V reversal therefore hurry in long, no, it's not that way. Down is down, up is up, that's it. REMEMBER, WE FOLLOW, simple as that.

[balance]

we're all being fooled by this trap (green circle), thanks to BoA!

[Travelfrog]

Anyone selling the open or do we wait for a pullback?

[simpletrader]

will there be a pull back up or not?

[alvian33]

hey cobra, would you show a good entry point to go short after a rebound? thanx

[shumushu]

Don't look like a gap fill day to me, Leadership stocks are going down fast. Nasdaq is below the 50day moving average today!