10/27/2011 Intraday Watering

PLUNGE · Post by **PLUNGE** » Thu Oct 27, 2011 9:30 am

Interesting video from Tom DeMark, technical analyst who's made some great calls lately:

http://www.alsosprachanalyst.com/market ... apped.html

standard_and_poor · Post by **standard_and_poor** » Thu Oct 27, 2011 9:30 am

wave 3 in progress.

Post by **Cobra** » Thu Oct 27, 2011 9:31 am

the open. way too stretched, so let's wait.

cougar · Post by **cougar** » Thu Oct 27, 2011 9:32 am

Trading QQQ yesterday, was for pizza money…
QQQ today in pre-market, trading at the Oct high.
Multiple targets around the 59 level.

Post by **Cobra** » Thu Oct 27, 2011 9:32 am

standard_and_poor wrote:https://standardpoor.wordpress...
the roadmap for today, portfolios and wave count,pics,etc.
yesterday's best performers in the short term high risk portfolio were
gtiv +13.31%, ift +9.82% and spmd +8.57%, most others were slightly
profitable.

Please no promote one's own web site here.

barbaragull · Post by **barbaragull** » Thu Oct 27, 2011 9:33 am

Yesterday's P-bar totally forgotten?

SB73 · Post by **SB73** » Thu Oct 27, 2011 9:34 am

5 min view pointless with a gap of this size

Mr. BachNut · Post by **Mr. BachNut** » Thu Oct 27, 2011 9:35 am

I put on a very small, teaser short at SPY 127.4 in the pre-market. So small, I put the STOP at 129.1.
I just couldn't help myself. Only technical rationale is extreme overbought level and 200 day SMA resistance.
I speculate the local top comes in the next 5 trading days and that upside between now and then will be limited from these levels.
So, I have put a toe in the water. As time progresses and or price rises, I will probably work into a real position.
Clearer signs of a turn would get me aggressive too, but I like assembling a bit of a position in advance to have a play and to mentally prepare.
For a tortoise like me, a pilot position helps deal with the markets surprise quick turns and lightning speed.

1der · Post by **1der** » Thu Oct 27, 2011 9:36 am

SPY P Bar at 125.44 on my chart from about an hour and half ago

ricster3 · Post by **ricster3** » Thu Oct 27, 2011 9:36 am

Cobra wrote:
ricster3 wrote:This could very well be my last trading week in many years. Unless we see a monster selloff late today / tomorrow...

But we all know markets don't fall. LOL

Had fun while it lasted, at least it wasn't all my personal holdings.. only 15% and I'm very young.
Wow you bet heavily on the short side?

Yes, unfortunately. My famous last words will be that I bought puts 5 mins before markets ripped to heavens.

Me XMan · Post by **Me XMan** » Thu Oct 27, 2011 9:37 am

One GIGANTIC gap!

Cobra wrote:the open. way too stretched, so let's wait.

Apple · Post by **Apple** » Thu Oct 27, 2011 9:38 am

Cobra wrote:the open. way too stretched, so let's wait.

Would you expect with TRIN and TRINQ so high, a gap fill more possible?

fehro · Post by **fehro** » Thu Oct 27, 2011 9:39 am

SPX 200 daily SMA... just tagged.

Post by **Cobra** » Thu Oct 27, 2011 9:39 am

officially testing MA200 now.

99er · Post by **99er** » Thu Oct 27, 2011 9:39 am

Honey...
SPX http://99ercharts.blogspot.com/2011/10/spx_27.html

Where are the ol' boards?

Al_Dente · Post by **Al_Dente** » Thu Oct 27, 2011 9:42 am

MS + 11%
MS was the US bank stock that all were watching due to its excessive cds exposure to europe/china

Vaamsy · Post by **Vaamsy** » Thu Oct 27, 2011 9:43 am

Cobra, if we are in a bear market, shouldnt the MA200 turn things around?

Roadrunner · Post by **Roadrunner** » Thu Oct 27, 2011 9:43 am

standing on sidelines today - this is unusual for me. just have no idea where direction lies ... sell the news.. buy the news... I think it's best to wait for near the close. I had my squezze at the open of course.

Post by **Cobra** » Thu Oct 27, 2011 9:44 am

Apple wrote:
Cobra wrote:the open. way too stretched, so let's wait.
Would you expect with TRIN and TRINQ so high, a gap fill more possible?

a little pullback yes, but I certainly won't hope such a big gap could fill today.

Apple · Post by **Apple** » Thu Oct 27, 2011 9:44 am

Richarab wrote:been sitting at the doorstep this morning. waiting for cobra to open. what a morning
by the way, think we'll close the gap?

Thanks for the word of caution yesterday. Greatly appreciated.

Cobra's Market View

Back to www.cobrasmarketview.com

10/27/2011 Intraday Watering

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