10/07/2011 Intraday Watering

[agnosia]

MARKET HOLIDAYS: http://corporate.nyx.com/en/holidays-and-hours/nyse
BOND MARKET: http://www.sifma.org/services/holiday-schedule/

ok so we are open... thanks

[putts]

hey guys does anyone know if the markets are open monday? thanks

U.S. stock exchanges are open for trading Columbus Day, October 10.
Bond markets, Federal Reserve Banks and many of the nation's banking institutions are closed.

[seekingknowledge]

The attachment TZA 1 Minute.png is no longer available

Went short on TZA a little past 10:30. For newbies to intraday trading, see chart and here was what I waited for:

* Pullback on fib to 61.28
* MACD crossover (this happened about 10:33). You'll see it on chart
* Breakdown of the Russell (movement below 50 MA). Note: I didn't wait to go under, just hit the 50. Got aggressive based on above 2 bullets. This was risky, better to wait to officially break below 50MA

Disclosure: Entry at 44.45 based on 61.28 fib

Now, go Bears go! Hope it works today. Got stopped out yesterday with small loss. GLTA.

Thanks, ULTRAMARINE, for teaching me how to properly attach an image. You now created a monster! I'm addicted.

Cheers, buddy! The intraday charts are what make this forum what it is. That and Cobra and all the other great people on there, of course.

Nice chart. What is your planned exit strategy?

Thanks!! Still learning, but consistently making gains -- nothing like Cobra, though. I am about 20% of him. I learn so much from him and the rest of you on this forum. My exit target (momentum trade) is 634.71. See chart I attached for Russell Daily. However, if it wants to go lower, cool! In the meantime, I'll be watching the following like a hawk:
* Want to see TZA remain above the 10MA on both the 5minute and 15 minute chart ... and, of course, correspondingly, this means the Russell is staying below the 10MA. I should also note I need to see the 10MA > than the 20MA and the 20MA > 50MA on the TZA 5 min and 15 min chart.
* Watching MACD for divergence signals or not
* Watching to see if we jump above the 10MA on the TZA 60 min chart. We need to get there soon.
* Watching the green drawn dotted trendline on Russell 15MA chart (attached).

Sorry it took me so long to respond, but I didn't see your note until now as I was busy updating charts and watching them sooo carefully. I'm not as good as you guys with the multitasking yet. Too afraid to take my eye off the ball. Did that before and got a rude surprise. Although my objective is to stay in for a couple of days or more momentum trade, this could always turn out to be just an intraday trade.

[BullBear52x]

H&S?

[Cobra]

nothing to say, the current bar may confirm what we had was just a small bear flag. watch the green line below, breakdown would be bad. Noted RSP leads down today.

[waverider]

Fitch downgrades Spain as well: http://www.marketwatch.com/story/fitch- ... 2010-05-28

[cougar]

Fitch downgading Spain!

[BullBear52x]

Fitch downgading Spain!

12 big banks in UK got down grade last night, funny isn't it?

[Al_Dente]

SPY mirrored the UUP bars (5 min), those were trading bars not phantom
Dollar telling us bear spy, bonds too
$NYDEC 2049 strong bear

[jarbo456]

i guess portugal, ireland will be next?

i was 1 cent from being stopped out of half my shorts....crazy markets. -_-

once again, another example of russian roulette with a fully loaded .45...anyone having traded markets for awhile knows that on some days it's better to be lucky than anything else.

[janez]

In shorts: DG, AMZN, HANS, SPY

[rpccharts]

ZSL MONSTER SQUEEZE

[Al_Dente]

ZSL

[MajorEasy]

here's what happens when a big guy sells 20K ES contracts...

[uempel]

Everybody bearish here, because 1170 is difficult to break? I believe it will be broken soon, but perhaps SPX has to dip down to 1135/40 first

Why I'm not bearish: did you guys see yesterdays bullish percentages? They don't look bearish, no way.

[chodaboy19]

[agnosia]

H&S?

yep i mentioned that earlier my targets have been met.. just shy of them anyway. /es 1146, /cl 81.5

[ultramarine]

Russell Dailly.png

Russell Dailly.png

TZA 1 Minute.png

Went short on TZA a little past 10:30. For newbies to intraday trading, see chart and here was what I waited for:

* Pullback on fib to 61.28
* MACD crossover (this happened about 10:33). You'll see it on chart
* Breakdown of the Russell (movement below 50 MA). Note: I didn't wait to go under, just hit the 50. Got aggressive based on above 2 bullets. This was risky, better to wait to officially break below 50MA

Disclosure: Entry at 44.45 based on 61.28 fib

Now, go Bears go! Hope it works today. Got stopped out yesterday with small loss. GLTA.

Thanks, ULTRAMARINE, for teaching me how to properly attach an image. You now created a monster! I'm addicted.

Cheers, buddy! The intraday charts are what make this forum what it is. That and Cobra and all the other great people on there, of course.

Nice chart. What is your planned exit strategy?

Thanks!! Still learning, but consistently making gains -- nothing like Cobra, though. I am about 20% of him. I learn so much from him and the rest of you on this forum. My exit target (momentum trade) is 634.71. See chart I attached for Russell Daily. However, if it wants to go lower, cool! In the meantime, I'll be watching the following like a hawk:
* Want to see TZA remain above the 10MA on both the 5minute and 15 minute chart ... and, of course, correspondingly, this means the Russell is staying below the 10MA. I should also note I need to see the 10MA > than the 20MA and the 20MA > 50MA on the TZA 5 min and 15 min chart.
* Watching MACD for divergence signals or not
* Watching to see if we jump above the 10MA on the TZA 60 min chart. We need to get there soon.
* Watching the green drawn dotted trendline on Russell 15MA chart (attached).

Sorry it took me so long to respond, but I didn't see your note until now as I was busy updating charts and watching them sooo carefully. I'm not as good as you guys with the multitasking yet. Too afraid to take my eye off the ball. Did that before and got a rude surprise. Although my objective is to stay in for a couple of days or more momentum trade, this could always turn out to be just an intraday trade.

Actually. I'm only half paying attention to the markets today. Too busy with work. I'm learning a lot too. But I'm not a day trader. I take a longer term perspective. But the ideas here are really valuable and help with entry and exit strategies.

Keep us posted on the TZA trade! I think it wants to rise today. I may sell some of my TZA once the 60 min gets overbought on STO. I think the market is less bearish generally here.

[jarbo456]

Everybody bearish here, because 1170 is difficult to break? I believe it will be broken soon, but perhaps SPX has to dip down to 1135/40 first

SPXx.png

Why I'm not bearish: did you guys see yesterdays bullish percentages? They don't look bearish, no way.

BPSPX2.png

this is a very short term bearish position, possibly closed out by the end of today, or potentially monday.

[rpccharts]

SLV - December Silver: Silver is now headed for 25.00.