09/29/2011 Intraday Watering

[silicon_beaver]

Interesting.
common stocks are declining. finance, oil, metals...
But all 3x ETF are holding. FAS, ERX, TNA, BGU.

[heavenskrow]

SPY/TLT ratio

even on the longer time frame, 60 min, it looks set to drop again.

EDDDIT, cant tell =]

[EvilTrader]

This roller coaster market has the potential to badly hurt both bulls and bears.

protect your asses ppl...for real....this advice is as good as it can be.

[Al_Dente]

internals
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =244574918

[silicon_beaver]

10:00am is coming. time to make a decision.

SPY starts to decline. 10:00am.

[buyorsell]

This roller coaster market has the potential to badly hurt both bulls and bears.

protect your asses ppl...for real....this advice is as good as it can be.

It's so hard to trade if we keep seeing big gap-up & gap-down.
So far, the only strategy works for me is selling out-of-money options.
Cheers.

[ultramarine]

10:00am is coming. time to make a decision.

SPY starts to decline. 10:00am.

As long as 116.8 is holding firm, then the gap up rally day is still a possibility. Very close now...

[silicon_beaver]

This roller coaster market has the potential to badly hurt both bulls and bears.

protect your asses ppl...for real....this advice is as good as it can be.

It's so hard to trade if we keep seeing big gap-up & gap-down.
So far, the only strategy works for me is selling out-of-money options.
Cheers.

Or,
set options straddle (high cost) but works better if bear/bull in cycle.

[stockcycle]

Seems to me that Bears want this market back visit 1160 first.

[silicon_beaver]

deleted.

[silicon_beaver]

10:00am is coming. time to make a decision.

SPY starts to decline. 10:00am.

As long as 116.8 is holding firm, then the gap up rally day is still a possibility. Very close now...

yeah,
market should give out the result 10:30am.

[ultramarine]

SPY/TLT ratio

even on the longer time frame, 60 min, it looks set to drop again.

EDDDIT, cant tell =]

Heavenskrow -- looks like TLT has broken above the declining trend line finally. Up nicely today. Do you think it is going back into rally mode and make a run for the upper channel again?

[rhight]

Good morning Cobra, and all;

Crazy market. Price again testing 20 DMA, and poking above yesterday's broken up trend and horizontal support. The market is doing it's best to shake everyone out of their positions. More range trade. The down trend that began yesterday would be considered broken if price breaks above 1186 (78.6% retrace of yesterday's wave down - pink fib). As you can see, yesterday's high was stopped at the 78.6% retrace of prior swing high (green fib), bounced around between the 61.8 and 50%, then fell rapidly and found support near the 38.2% line. This MAY be a wave 2 up of a 5 wave down minor trend sequence (a few days long). Although, by my calculations, since price made it into the upper right hand corner of the red time and price box before reversing and seems to have bounced off of the upper left corner of the blue box, then that would have to be interpreted as short term bullish. IF 1150 turns out to be the 60 min. cycle bottom, the upside statistical target is in the red price box on the right hand side (average +/- std. dev.), so 1200 would be minimum expected. Stockcharts.com analysts are still bearish on the intermediate term.

[SB73]

Well I remember seeing Cobra say something about bouncing off the EMA 20 on a 5 min. Looks like we are getting that now.

[AK84]

PAGING COUGAR!!!

Can you please put up a chart of SINA with next levels ? Thank U !

[StrikePrice]

Let's not confuse why we moved higher. Media talks jobs report or GDP. Nope. EUR/USD rallied all night long after breaking down at 3:30 yesterday.

Watch EUR/USD, if it does trend higher US equities will as well.

[soku]

as we said, es shd go to 1170 on an upturn. unfortunately, it arrived there w/o me again. it will be ideal if we get around 1175 area then start to drop to 1154. now since it is couple ticks shy to the upside, i will say the low may not be too low then. where is the volatility?

[AK84]

WATCH WYNN!!

Break below 127.5 V V V BEARISH

[AK84]

so maddd that I missed NFLX today. anyhow, next level is 97.5-100

[buyorsell]

This roller coaster market has the potential to badly hurt both bulls and bears.

protect your asses ppl...for real....this advice is as good as it can be.

It's so hard to trade if we keep seeing big gap-up & gap-down.
So far, the only strategy works for me is selling out-of-money options.
Cheers.

Or,
set options straddle (high cost) but works better if bear/bull in cycle.

Agree. It also works for me a few times though I only use this strategy when Cobra is not sure about the direction.