03/17/2011 Intraday Watering

rcks · Post by **rcks** » Thu Mar 17, 2011 10:13 am

Cobra
Did you see the Tim Ord charts today? The high Trin in the second chart and the high Put/Call ratio point to a possible bottom.

http://www.decisionpoint.com/TAC/ORD.html

Cobra wrote:little bigger picture. Nothing to say.

Me XMan · Post by **Me XMan** » Thu Mar 17, 2011 10:30 am

Just went short on SPY for lunch money.

Cobra wrote:Huge gap up but within yesterday's range so no idea if the gap will be filled. I'll assume today is going to be a strong uptrend day?

BullBear52x · Post by **BullBear52x** » Thu Mar 17, 2011 10:32 am

Look at UNG goes!!!! now SSO need to take off too.

Tabby · Post by **Tabby** » Thu Mar 17, 2011 10:34 am

St. Patrick's DAY for everybody

Post by **Cobra** » Thu Mar 17, 2011 10:44 am

rcks wrote:Cobra
Did you see the Tim Ord charts today? The high Trin in the second chart and the high Put/Call ratio point to a possible bottom.

http://www.decisionpoint.com/TAC/ORD.html

Cobra wrote:little bigger picture. Nothing to say.

That's possible. But need price action to confirm. When trading against the trend, you'll find more often than not, all signals suddenly stop working.

BullBear52x · Post by **BullBear52x** » Thu Mar 17, 2011 10:54 am

How the shorts feel today? very comfortable still no rush, I gave you my own feeling I am still comfortably holding MU shorts, the only short I hold, but comfortably thinking that this bounce can only go so high. risk ratio is manageble in down side when you are betting along the major trend. so, with that said DOW and SPX must blast off higher than this before any hardcore shorts will even bother to turn on their monitors. Trade what you see not what you think that's my principle. GL.

Post by **Cobra** » Thu Mar 17, 2011 10:57 am

Well, a wild guess, today won't be a strong up day, it might fade eventually like yesterday, just today the direction is on the opposite side.

BullBear52x · Post by **BullBear52x** » Thu Mar 17, 2011 11:00 am

Cobra wrote:Well, a wild guess, today won't be a strong up day, it might fade eventually like yesterday, just today the direction is on the opposite side.

soon more Bulls will give up that's why my target on SPY is at 122.50 before real blast off. I would not shorts anything at all when we get there.

Post by **Cobra** » Thu Mar 17, 2011 11:01 am

A little trend line here.

Post by **Cobra** » Thu Mar 17, 2011 11:06 am

I see 3 push up already, so if the coming test is a failure, that'd be bad news.

KENA · Post by **KENA** » Thu Mar 17, 2011 11:08 am

FYI... Stocktiming.com says. Lots of damage to mkt internals yestrday..Liquidity is moving down..Mkt needs healing fast to prevent more down trend. Dorsey Wright P & F Bullish point chart now in down trend with a possible pause at this time.When this chart moves in down trend it will usually stay for some time, so after this up rally we could see new lows. Right now I am staying with the up move with a Spy Call and a somewhat protective Put.This mkt my go to test the 1300 area. So I will follow the trend and wait and see. Bullish very short term and Bearish intermediate term.

stocksage · Post by **stocksage** » Thu Mar 17, 2011 11:10 am

BullBear52x wrote:How the shorts feel today? very comfortable still no rush, I gave you my own feeling I am still comfortably holding MU shorts, the only short I hold, but comfortably thinking that this bounce can only go so high. risk ratio is manageble in down side when you are betting along the major trend. so, with that said DOW and SPX must blast off higher than this before any hardcore shorts will even bother to turn on their monitors. Trade what you see not what you think that's my principle. GL.

covered my shorts yest. Am long for another top til end of June.

BullBear52x · Post by **BullBear52x** » Thu Mar 17, 2011 11:15 am

stocksage wrote:
BullBear52x wrote:How the shorts feel today? very comfortable still no rush, I gave you my own feeling I am still comfortably holding MU shorts, the only short I hold, but comfortably thinking that this bounce can only go so high. risk ratio is manageble in down side when you are betting along the major trend. so, with that said DOW and SPX must blast off higher than this before any hardcore shorts will even bother to turn on their monitors. Trade what you see not what you think that's my principle. GL.

covered my shorts yest. Am long for another top til end of June.

Don't forget to pick up UNG and SSO along the way

Me XMan · Post by **Me XMan** » Thu Mar 17, 2011 11:16 am

SPX can't stay above 10DMA.

Cobra wrote:I see 3 push up already, so if the coming test is a failure, that'd be bad news.

stocksage · Post by **stocksage** » Thu Mar 17, 2011 11:17 am

BullBear52x wrote:
stocksage wrote:
BullBear52x wrote:How the shorts feel today? very comfortable still no rush, I gave you my own feeling I am still comfortably holding MU shorts, the only short I hold, but comfortably thinking that this bounce can only go so high. risk ratio is manageble in down side when you are betting along the major trend. so, with that said DOW and SPX must blast off higher than this before any hardcore shorts will even bother to turn on their monitors. Trade what you see not what you think that's my principle. GL.

covered my shorts yest. Am long for another top til end of June.
Don't forget to pick up UNG and SSO along the way

ung certainly due, needs to break that loooooong downtrend line

Me XMan · Post by **Me XMan** » Thu Mar 17, 2011 11:18 am

Can you give reasons why shorting MU?

BullBear52x wrote:How the shorts feel today? very comfortable still no rush, I gave you my own feeling I am still comfortably holding MU shorts, the only short I hold, but comfortably thinking that this bounce can only go so high. risk ratio is manageble in down side when you are betting along the major trend. so, with that said DOW and SPX must blast off higher than this before any hardcore shorts will even bother to turn on their monitors. Trade what you see not what you think that's my principle. GL.

BullBear52x · Post by **BullBear52x** » Thu Mar 17, 2011 11:24 am

Me XMan wrote:Can you give reasons why shorting MU?

BullBear52x wrote:How the shorts feel today? very comfortable still no rush, I gave you my own feeling I am still comfortably holding MU shorts, the only short I hold, but comfortably thinking that this bounce can only go so high. risk ratio is manageble in down side when you are betting along the major trend. so, with that said DOW and SPX must blast off higher than this before any hardcore shorts will even bother to turn on their monitors. Trade what you see not what you think that's my principle. GL.

Poeple are on the Hype that MU to the moon, every time the earth quake hit Japan, """Look what happen in 95 bla bla bla""" look at the chart today it looks the other way and we were not in recession then. and with my chart (see chart) I will short it as long as it trades under mid BB or especially now under 1 standard deviation.

Post by **Cobra** » Thu Mar 17, 2011 11:25 am

3 push up, failed retest of the previous high, pullback, so as I said. I believe this should be 2 legged down at least. I don't mean a sell off begins, just a normal pullback so far.

BullBear52x · Post by **BullBear52x** » Thu Mar 17, 2011 11:29 am

SSO still looking for support at 49ish before I bail at a lost.

99er · Post by **99er** » Thu Mar 17, 2011 11:30 am

Crude
H&S target of 86.30.
http://99ercharts.blogspot.com/2011/03/crude_17.html

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03/17/2011 Intraday Watering

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