10/13/2011 Intraday Watering

[Al_Dente]

ouch, cobras arrows zig zag then point up……..UUP maybe agrees? But decliners still 2300, BEAR, but did go lower low……….mmm
i don'w kno al_dente...bears have really gone back to hibernation. decliners are really declining in the internals...

Nydec 2358 (NOT HIBERNATION, not chopped liver, not yet), maybe turning here a bit for breather…maybe more
SH higher low, but nydec lower low
All we can do is see if nydec will hold >2000
UUP maybe turning back to bear?
Tick still bear but slightly weaker bear
Trust raw data/internals, trust cobra, me messenger/condiut…trust me….not so much

[stucap]

L2 short on EMA20, this is bear's last chance must win cannot afford to lose.

define "win" please? new LOD?

[jarbo456]

ouch, cobras arrows zig zag then point up……..UUP maybe agrees? But decliners still 2300, BEAR, but did go lower low……….mmm
i don'w kno al_dente...bears have really gone back to hibernation. decliners are really declining in the internals...

Nydec 2358 (NOT HIBERNATION, not chopped liver, not yet), maybe turning here a bit for breather…maybe more
SH higher low, but nydec lower low
All we can do is see if nydec will hold >2000
UUP maybe turning back to bear?
Tick still bear but slightly weaker bear
Trust raw data/internals, trust cobra, me messenger/condiut…trust me….not so much

i'm still holding on. but very cautiously holding on my added shorts today. we're back in the "box". bears need a clear break below this box to make me a believer today. that's below 119.12...touched perfectly twice in a span of 20 minutes this morning.

[Cobra]

so far goes as planed. I didn't draw rebound but the pullback starts from very high above implies a rebound, I just to leave some space for bars otherwise the chart won't be clear. Now the key is the green line below, failed to decisively breakdown then bulls turn again. Cannot even make a lower low then also bulls turn again. so bears need show strength, real strength here.

[stucap]

so far goes as planed. I didn't draw rebound but the pullback starts from very high above implies a rebound, I just to leave some space for bars otherwise the chart won't be clear. Now the key is the green line below, failed to decisively breakdown then bulls turn again. Cannot even make a lower low then also bulls turn again. so bears need show strength, real strength here.

thanks! makes things much more clear.....

[agnosia]

I am a safety player so I don't even bet at 1190 unless it goes past 1197.45 (top of wave a) and then I only have a few spx points for reward but at least I know the count works.

nice, i am not familiar with waves. i day trade using the 10/20 ema on the 5min chart. i got stopped out but just one point and could have made 5... i always risk 1:5 and i miss quite a few but still make money due to risk/reward.

[tdo722]

I am a safety player so I don't even bet at 1190 unless it goes past 1197.45 (top of wave a) and then I only have a few spx points for reward but at least I know the count works.

nice, i am not familiar with waves. i day trade using the 10/20 ema on the 5min chart. i got stopped out but just one point and could have made 5... i always risk 1:5 and i miss quite a few but still make money due to risk/reward.

1192.42 that could be the end of wave B (needs confirmation). now for C to shoot up to 1199 or more (still need confirmation). let's pray for it to past 1196.11 as the first checkpoint of this C wave. I think I might hop on the C train if it does past 1196.11

[seekingknowledge]

For newbies to swing trading. Today was the perfect set-up to go short on the Russell. I traded the TZA. The setup was waiting for the moving averages to roll-over on both the 5-minute and 15-minute charts (see attached). Once this happens, be patient and wait for the Russell to backtest the 20 MA. That is the hard part of trading when new -- PATIENCE and DISCIPLINE. You'll see where my target was on the Russell 5-min chart. Note: Even though I trade the TZA, you need to observe the underlying asset, which is the TZA. The purchase price for TZA at this buy-time was 39.45. My target to sell is denoted on the Russell Daily. I'm thinking we have an inverted H&S and we'll create a right-shoulder. However, if moving averages roll-over on the TZA like they did the Russell, I will sell then. GLTA.

Question for Al_Dente: What is a "big O"? You mention I did this right on this site. Sorry, but I cannot guess what that is!

Thanks, Cobra, for your awesome site and all the learnings from it! Signed, A King Cobra Fan!

[CognitiveDissonance]

Russell Daily on 10-13.png

Russell 5-Min on 10-13.png

For newbies to swing trading. Today was the perfect set-up to go short on the Russell. I traded the TZA. The setup was waiting for the moving averages to roll-over on both the 5-minute and 15-minute charts (see attached). Once this happens, be patient and wait for the Russell to backtest the 20 MA. That is the hard part of trading when new -- PATIENCE and DISCIPLINE. You'll see where my target was on the Russell 5-min chart. Note: Even though I trade the TZA, you need to observe the underlying asset, which is the TZA. The purchase price for TZA at this buy-time was 39.45. My target to sell is denoted on the Russell Daily. I'm thinking we have an inverted H&S and we'll create a right-shoulder. However, if moving averages roll-over on the TZA like they did the Russell, I will sell then. GLTA.

Question for Al_Dente: What is a "big O"? You mention I did this right on this site. Sorry, but I cannot guess what that is!

Thanks, Cobra, for your awesome site and all the learnings from it! Signed, A King Cobra Fan!

Very cool, thanks for the lesson.

[pady]

Expecting 120.25 ( 38% ) to 120.65 ( 50% ) over almost a day retracement.

[seekingknowledge]

Russell Daily on 10-13.png

Russell 5-Min on 10-13.png

For newbies to swing trading. Today was the perfect set-up to go short on the Russell. I traded the TZA. The setup was waiting for the moving averages to roll-over on both the 5-minute and 15-minute charts (see attached). Once this happens, be patient and wait for the Russell to backtest the 20 MA. That is the hard part of trading when new -- PATIENCE and DISCIPLINE. You'll see where my target was on the Russell 5-min chart. Note: Even though I trade the TZA, you need to observe the underlying asset, which is the TZA. The purchase price for TZA at this buy-time was 39.45. My target to sell is denoted on the Russell Daily. I'm thinking we have an inverted H&S and we'll create a right-shoulder. However, if moving averages roll-over on the TZA like they did the Russell, I will sell then. GLTA.

Question for Al_Dente: What is a "big O"? You mention I did this right on this site. Sorry, but I cannot guess what that is!

Thanks, Cobra, for your awesome site and all the learnings from it! Signed, A King Cobra Fan!

Very cool, thanks for the lesson.

Thanks! I made a misstatement above. I said you need to observe the underlying asset, which is the TZA. My mistake was saying TZA. It should say the Russell. There are no guarantees, of course, this will play out. Need to watch carefully and see if this setup remains and don't be stubborn. Keep any losses small.

[spuderik]

This pattern means the rally is over or at least the first upleg of it is over ( even if we go above yesturday's high )

Could you explain this in further detail please?

[seekingknowledge]

Russell Daily on 10-13.png

Russell 5-Min on 10-13.png

For newbies to swing trading. Today was the perfect set-up to go short on the Russell. I traded the TZA. The setup was waiting for the moving averages to roll-over on both the 5-minute and 15-minute charts (see attached). Once this happens, be patient and wait for the Russell to backtest the 20 MA. That is the hard part of trading when new -- PATIENCE and DISCIPLINE. You'll see where my target was on the Russell 5-min chart. Note: Even though I trade the TZA, you need to observe the underlying asset, which is the TZA. The purchase price for TZA at this buy-time was 39.45. My target to sell is denoted on the Russell Daily. I'm thinking we have an inverted H&S and we'll create a right-shoulder. However, if moving averages roll-over on the TZA like they did the Russell, I will sell then. GLTA.

Question for Al_Dente: What is a "big O"? You mention I did this right on this site. Sorry, but I cannot guess what that is!

Thanks, Cobra, for your awesome site and all the learnings from it! Signed, A King Cobra Fan!

One more thing: To be really safe, you would wait for a lower-low on the 15-minute chart of the Russell. My trade was aggressive and I jumped in a little early. I'm still waiting for confirmation of a lower-low which will happen when the Russell hits 681.11.


Very cool, thanks for the lesson.

Thanks! I made a misstatement above. I said you need to observe the underlying asset, which is the TZA. My mistake was saying TZA. It should say the Russell. There are no guarantees, of course, this will play out. Need to watch carefully and see if this setup remains and don't be stubborn. Keep any losses small.

[MM111]

Is that it for the bears? No break down.

[Cobra]

I bet now everybody sees this. bears are weak, cannot even make a lower low on the 3rd attempt. I'm very disappointed.

[Al_Dente]

NAAIM came in at zero. That is an unprecedented 3 weeks in a row of sub-5 level readings. Amazing that the recent rally didn't even budge this investing manager equity exposure survey. What it means is that for 3 weeks running now we've seen these managers average near 0% exposure to the stock market. This fits in with the oddity of put-call ratio staying dramatically high in the face of the equity rally. This should be contrarian bullish, but we've never seen it so bearish before which is disconcerting given that the market only dropped 20% from top to bottom.
AAII showed a drop in bears and rise in bulls, along what would be expected.

Thank u 4 EXCELLENT post on cobras overnight board

You're welcome. I was wondering whether I should post it or not. ... It's an effort to keep my mind focused not only on the near term but beyond. One of the most difficult challenges I face as a trader is trying to organize all of the technical and fundamental issues/developments in a clear yet comprehensive picture.
Overall though, I want to keep my footprint here minimal, and any opinions backed with data. .....

Posting on this board makes us sharper, keener, we try 2 tighten up, clean up charts, so not 2 screw up too much, or as u say “keep mind focused. ” U add value here, we appreciate “opinions backed w data” … especially the DATA part…… (pls include links whenever possible). No need to keep minimal footprint.

“We all agree that your theory is crazy, but is it crazy enough?" [Niels Bohr, Physicist, Manhattan Project; quantum mechanics]

[tdo722]

spx 1192.63 or more, here we go again.

[isothermal]

Waiting for the break down in the next hour...

[Unique]

AAPL three push..

http://i.imgur.com/qaBPy.gif

Ahh..AAPL treating me good...

die bulls die...

[Al_Dente]

Russell Daily on 10-13.png

Russell 5-Min on 10-13.png

For newbies to swing trading. Today was the perfect set-up to go short on the Russell. I traded the TZA. ..................
Question for Al_Dente: What is a O?

Sorry, my bad, mistook u for someone else referencing Meg Ryan movie
Also: paging wave: “I need more cowbell” just silly reference to NBC SNL skit
Quit joking around Al, this is serious board here