10/20/2011 Intraday Watering

[Cobra]

i said rarely 5 consecutive red hourly bars, we're on the 7th bar, so don't get too bearish here.

So would this indicate a short term bounce and then a continuation down?

yes, I think you've got the essence of my market analysis.

[KENA]

Watch IWM to test todays hi or near it.

[ActiveTrader]

Still in nowhereville, yippy. All about 1185 and 1230 on ES. Still could go to top or bottom again until one side breaks up/down.

[jarbo456]

Watch IWM to test todays hi or near it.

sold all of my IWM puts, but holding onto my SPY puts, don't think this push down is over quite yet. but definitely see a visit to potentially as high as 120.85...anything much higher, and i'll sell those puts as well.

[tyalgo]

is that a joke???

[tdo722]

XLF is turning around on 15mins. is that a sign to buy long here guys?

[Al_Dente]

getting out my UNG for the 100th time try. now you know I am not all that bear

bs
did u notice there is another "teddy bear" on board?

[tdo722]

if SPY gets into 50% to 61.8% zone then this is a breakout to the upside then I guess.

[Cobra]

by the way, I doubled the mysql max connections allowed last night, let's see if our server crash again.

I also doubled open file cache and open file limit to make sure max connections work. this line is for someone knows about mysql.

also the feedburner feed now reflects the new cobra site, so if you subscribed the old feed, no need to change. if you don't understand feed, then forget about it, not important.

[KENA]

XLF is turning around on 15mins. is that a sign to buy long here guys?

Only one of them .The others are also turning...All for now past time to work out.

[BullBear52x]

The weakest link.

[BullBear52x]

getting out my UNG for the 100th time try. now you know I am not all that bear

bs
did u notice there is another "teddy bear" on board?

Where's my music?

[Cobra]

i was actually considering buying a new server but it looks like mysql doesn't support multiple CPUs even it claims so, so new server doesn't help, I think. anyone experienced in mysql like to comment on this? it's about our future. I believe this forum will be very popular as rarely someone giving intraday comment via plenty of images.

[EvilTrader]

did anyone see this ZH article? posted on Saturday 10/15 - http://www.zerohedge.com/news/biggest-m ... d-sp-surge
basically says that the 9 day runup, on the back of euro strength, could have been due to the repatriation of euro currency.
we have a supportive report in the WSJ owned Marketwatch here: http://blogs.marketwatch.com/thetell/20 ... near-1-20/ ...only 5 days later. -_- anyone find this interesting?

jarbo, translate please, for newbies, and, you know, others

not that it really matters, as price is king, but in searching for a reason for the previous two week mega bull rally, i was poking around. it was obvious to everyone that the Euro was leading the charge higher. Euro correlations actually hit the highest early LAST week, in the middle of the rally. ZH asserts that the equities rally was headfake on the backs of Euro repatriation. Repatriation due to asset sales abroad, and then the conversion back to Euros. that massive asset sale, the marketwatch article asserts, was due in part to the upcoming stress tests, and the need for EZ banks to well capitalize their balance sheets.
so basically NOT widespread and wholesale fund buying - which wasn't really supported by the light volumes.
anyway, just an interesting idea behind why we may have seen the massive 6% rise in the euro over a short 9 day span.

agree w all and THANK YOU
however, zh always calls rallies headfake or squeeze or HFT, all true, except in 09-10 monster rally, mkt just didn’t care what zh said
plus, I am sick and tired of banks bs “stress testing” every three days already
……. just would u please re-read the King Cobra’s brilliant overnight from 10/14 sharp pullback (YES) then somethin bout MULTIPLE WEEKS RALLY AFTER THAT…u nail this “pullback”…then u load long 4 those multiple weeks rally???
PS: decliners and all internals still confirm bear at the moment (they gotta breathe)

Any TRADER must choose a time-frame to trade. You must know what time-frame you trade or you will go broke.

I see this way :

Very long-term (decades) : bullish due to inflation/systematic money printing.
long-term (years) probably bearish and high volatile
Intermediate (months) probably sideways/a little bullish.
short-term (weeks) : sideways/consolidation
very-short term (days) : bearish ( Thats my main time-frame for trading )
high-frequency (intraday) : Ask COBRA thats his expertise.

[99er]

EURUSD
http://99ercharts.blogspot.com/2011/10/eurusd_4565.html

Possible bounce here. Big bounce.

[MrMiyagi]

Why are most of you selling your SPY/short/puts?

[richer]

Cobra,

Watch your intraday comments very day. Very impressive. I think your site will become popular. Thanks.

[mac769]

FAS forms "M" in 1-sec chart. pull-back.

HTH can a serious person use a 1-sec chart to trade if they are not on a vacuum-tube algo??

Just my humble opinion

[Cobra]

Why are most of you selling your SPY/short/puts?

because those bears had learnt enough lessons in the past 2 years. so nowadays they run fast. and this also means nowadays the market drops faster because no bears there to lift the market!

[snowinwind]

Why are most of you selling your SPY/short/puts?

I guess they are expecting a rebound from here, at least for a short period. So for day-traders, they think the wave is big enough to adjust their positions.