10/11/2011 Intraday Watering

[bushwaffle]

I see no p-bar

One of yesterdays..Still in play

I saw no p-bars yest KENA, which source are you using? Was it the EOD p-bar?

I got 115.61, 5 different times intraday

[agnosia]

chop chop chop chop .... looks to me like people are selling into this mess. we can't even close the gap.

[tdo722]

Been in cash for a bit now, but opened some TVIX this morning to test the waters.

This is a very short term play and won't be holding long even if it becomes profitable as we are in JBTFD mode until proven otherwise.

If we do end up approaching 1100 on the S&P, will cover and start nibbling on long positions as per my JBTFD mantra.

Start small, then scale if the price action aligns with the plan.

Bought 500 shares sso to test the upside. Wanted to do 1000 but still too scary.

[cougar]

chop chop chop chop .... looks to me like people are selling into this mess. we can't even close the gap.

Yep, I agree!

[KENA]

Lot of P bars yesterday..Still to be filled are 117.72 and 115.53..I use TD Ameritrade SPY 5 min.

[bushwaffle]

Lot of P bars yesterday..Still to be filled are 117.72 and 115.53..I use TD Ameritrade SPY 5 min.

That 115 bar is pretty close to a 38% retrace

[rhight]

VIX 130 min: in 4 previous circumstances, VIX under the Acceleration Band resulted in a strong UP move.
An impulsive reentry inside the channel would be for me a first indication of reversal…This should happen within 2 days, in line with Cobra’s suggested timing for a top.

cougar,

As always, interesting charts. What is the yellow band on the VIX chart? BTW, and confirming other posts including Cobra's astute analysis, my "time band" for a short term reversal stands at 10/10 to 10/14. The 10/10 price high exceeded 1 std. dev. above the average for the prior 6 minor up trends. From my experience, this may be interpreted as suggesting that the intermediate trend could be changing from down to up, and that a "higher low" may be expected on the next minor down trend.

[KENA]

Lot of P bars yesterday..Still to be filled are 117.72 and 115.53..I use TD Ameritrade SPY 5 min.

Sorry this was ans. for..Pablorynx (Thats quite a name)

[gabor]

Yesterday rally was fueled by the dollar's weakness, I think. But EUR/USD hit a massive resistance, that is hard to break.

[silicon_beaver]

chop chop chop chop .... looks to me like people are selling into this mess. we can't even close the gap.

Time frame is 10:30 am. let's see.

[bullbear52]

Per Cobra 7day rule, if we trade in the red today, this is nothing more than just a dead cat bounce.

[Dow Trader]

Talking about simillarity !!! check these 2 charts both ofthem in 2011
you want to see what happened next ?

[Forevergreen]

Talking about simillarity !!! check these 2 charts both ofthem in 2011
you want to see what happened next ?

Yes, Please...

[JTrader]

Per Cobra 7day rule, if we trade in the red today, this is nothing more than just a dead cat bounce.

That's funny, to express that thought is exactly why I logged in today. You beat me to it. Great minds.... etc.

[Grizzly]

Financials Lagging...

[rhight]

Good morning everyone.

Great site! I've been following it for a while.

I'm (obviously) new here but I thought I would add my 2 cents worth. Richard Russell (a bear) feels the market is over sold. Me personally, my broker has been driving me nuts and so I've been attempting to understand ways to attempt to understand the market, in essence become a full time student of the markets.

The P&F chart of TNA shows down. P&F for TZA shows down (confusing) but the TVIX P&F shows up. Now looking at the 1 hr MACD and Elliot waves of both TNA and TZA, it looks like a turn in the market is starting to occur.

Feel free to let me know if I'm on the right track on what I'm looking at. If there are gaping holes in what I'm looking at, as stated above, my desire is to become a full time student of the markets (but to ace nearly all exams... )

Don't analyze into the specific ETFs. My suggestion is to look and T/A the hell out of SPX/RUT. Leave the betting of the ETFs to each individual.

Cheers,
Tdo722

I agree with Tdo722, (I imagine, there must be 722 To Do's )
Juiced ETF's, especially, tend to lose value during even minor trend changes (3 to 10 day). They are meant for day or swing trades only. Placing stops on juiced etf's based on prior minor swing high's or low's can get you stopped out fairly easily, because the etf will reach the stop before the underlying index reaches it's prior high or low.

[KENA]

Lot of my indicators are still holding bearish..Retail is still holding and has to drop for this mkt to get completly bearish.

[Dow Trader]

Check what happened after the highlighted area ( a choppy advance then an impulsive down leg ).. so if that pattern will playout, then we will stay in this range until the year end, then down again but harder to 1010 area.. and that is really big IF.
do I trade based on it ? no way ...

[pablorynx]

Lot of P bars yesterday..Still to be filled are 117.72 and 115.53..I use TD Ameritrade SPY 5 min.

Sorry this was ans. for..Pablorynx (Thats quite a name)

Thank you, I've been trying to tease out the phantom bar phenomenon. I'm using bloomberg and do not always see the same p-bars as other have. Usually, it's exclusive tho, since when I see a p-bar, most people on the forum can see as well.

[uempel]