10/20/2011 Intraday Watering

[KENA]

Sold my new shorts..Went against my rules but it paid off this time.Now lets see.

[Al_Dente]

i decide to be lazy today, because technically hypothetically presumably many years ago, my mom gave birth to me today......Really. Tell me how old are you now?

i am 72. thanks.

Really? But still younger than my father who's sitting behind me visiting my Chinese forum now.

hands clasped together GREETINGS HONORABLE FATHER OF OUR HONORABLE KING COBRA.... in US we would say very proud if "chip off the old block"

[Unique]

I hope it breaks the 23.6% retracement soon. I am still in red for today because of the crazy move up this morning and I got stopped out.

Be careful of thursday reports on 10am...usually has some big ass candle...well now you know...

[Cobra]

resistances.

[BullBear52x]

Here is an update for not so turtle move. IWM = TNA/TZA
Sell is still on, no green bar to worry about if you are bear.

[GreedyKojiro]

Bought a small batch of ERX at $43.61

My UNG filled at 8.88, yes, baby go bulls go.

yes we can! yes we can!

[stockcycle]

SPX is seeking a support around 1200.

[tdo722]

currently in zone 61.8% - 78.6% retracement. I'm hoping that it can go down further to 78.6% to 100% retracement like the last 2 previous drops.

[silicon_beaver]

Cobra,
market hit lower low after 10:30am. could we conclude now, Close lower Open?

[uempel]

anyone watching copper? it looks like it is doing skydiving.

Dr. copper is a must to follow for real economy indication. not what my uncle Ben say.

Yeah, at 3.20 support now, but could go down to 2.40 (P&F show this, so do Fibs). Let's see if support holds.

Copper futures are flashing 3.054 now. Only 2% away from re-testing the lows! Yet the S&P is still 11% off its lows. Interesting divergence taking place between the two.

Spuderik, we talked (talked?) about cu in the very early morning. This divergence is interesting, and if cu does not form a double bottom it will go down another 20%. Difficult to understand if SPX is up at 1200 if cu were to go down at 2.40. Something fishy here. No, no, not fishy. This is Cobra's blog, snaky must be the right word!

My wild guess: cu wild hold at 3 and SPX will hold at 1190/1200...

[Al_Dente]

oy, bloombrg quoting Nietzsche now

interesting. i like the guy.
What quote did they say ?

somethin somethin REVOLUTION somethin....

[tdo722]

ascending triangle 1min. anything guys? I am still down $350 for the day.

[uempel]

anyone watching copper? it looks like it is doing skydiving.

Dr. copper is a must to follow for real economy indication. not what my uncle Ben say.

Yeah, at 3.20 support now, but could go down to 2.40 (P&F show this, so do Fibs). Let's see if support holds.

Copper futures are flashing 3.054 now. Only 2% away from re-testing the lows! Yet the S&P is still 11% off its lows. Interesting divergence taking place between the two.

Spuderik, we talked (talked?) about cu in the very early morning. This divergence is interesting, and if cu does not form a double bottom it will go down another 20%. Difficult to understand SPX up at 1200 if cu were to go down at 2.40. Something fishy here. No, no, not fishy. This is Cobra's blog, snaky is the right word!

My wild guess: cu wild hold at 3 and SPX will hold at 1190/1200...

[Cobra]

Really? But still younger than my father who's sitting behind me visiting my Chinese forum now.

Tell your dad we love his son.

thanks.

[BullBear52x]

i decide to be lazy today, because technically hypothetically presumably many years ago, my mom gave birth to me today......Really. Tell me how old are you now?

i am 72. thanks.

Really? But still younger than my father who's sitting behind me visiting my Chinese forum now.

hands clasped together GREETINGS HONORABLE FATHER OF OUR HONORABLE KING COBRA.... in US we would say very proud if "chip off the old block"

Yes, Cobra listen to your dad, if not for him right behind your shoulder you would never get this far

[Cobra]

Cobra,
market hit lower low after 10:30am. could we conclude now, Close lower Open?

Do we gap down huge today? obviously now, right? so the rule doesn't apply.

[silicon_beaver]

Cobra,
market hit lower low after 10:30am. could we conclude now, Close lower Open?

Do we gap down huge today? obviously now, right? so the rule doesn't apply.

Thanks.

[silicon_beaver]

tried to load FAS 11.80 not filled when SPY hit 120.3. I closed my FAZ early.

[StrikePrice]

Bigger Picture. 2-4 trend line looks to be toast, the farther away we get from it the more confident I'll feel.

Looks like Philly Fed numbers was the Bulls last attempt to keep inside the trend line. OPEX could be interesting to fake out with another backtest of the broken line. Your guess is as good as mine. Same goes for how much we retrace. Conservative would be another backtest of Red breakout line. Big Bears obviously want 100% retrace. Don't forget if this move down goes far it could put that potential IH&S at play around 1,115.

[simpletrader]

is there any chance this market will visit the high again in short term?