11/02/2011 Intraday Watering

[janez]

Risk/Reward pretty reasonable for many stocks on the long side.

[BullBear52x]

here what I have so far.

[knock]

Cobra. Who needs to pray today?

normally, today should be very bullish.

so bears should.

NORMALLY.

Your open post predicted a downtrend today? Sorry I am a little confused, and would appreciate some clarification! Thanks much.

[coralla]

here what I have so far.

spy.JPG

Is this a bull flag?

[BullBear52x]

here what I have so far.

spy.JPG

Is this a bull flag?

yes,

[Al_Dente]

5 day internals view:
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =245360380

“If everything seems under control, you're just not going fast enough." [Mario Andretti]

[BullBear52x]

Qs is especially weaker. Qs need to pick some speed here.

[BullBear52x]

I am back shorting SSO,

Per AL, borrow to sell short to the box

[waverider]

Goodmorning everyone. IWM opened on resistance, if it gets above 72.75 there's no resistance until 74.5 from what I can see. Economic data wasn't good, looks indecisive so far...

https://www.youtube.com/watch?v=OhQGbPELgPQ

[ClarkW]

I don't post on here very often because I recognize the talent in this room and feel I can't provide insight to match. But I would say in the couple months I've been on here I've seen an increasing number of people asking Cobra for clarification, each person might ask a couple times but collectively it's getting to be much. In my opinion, it's better to sit back and soak it all in, decepher things for yourself than seeking the "quick answer". Below is his opening comment, I don't view it as predicting a downtrend at all....more of uncertainty.
I'm only saying this because I've been in rooms before where this happens and witnessed it start to wear on the one provider (Cobra) and change the beauty of the site.....that's all. Apologize if seeming rude, not my intention at all

Cobra:
Gap up above yesterday's high, so chances are the gap won't be filled, not sure as almost all the gaps the next day after a Major Distribution Day got filled.

The global ES is a clear Bear Flag, so the rebound eventually would fail, well, NORMALLY.

Cobra. Who needs to pray today?

normally, today should be very bullish.

so bears should.

NORMALLY.

Your open post predicted a downtrend today? Sorry I am a little confused, and would appreciate some clarification! Thanks much.

[silicon_beaver]

Interesting. This morning so far.

FAZ. yesterday's low as resistance.
SPY. yesterday's high as support.
FAS. yesterday's high as resistance.

[Al_Dente]

FCX just went sell

[Mr. BachNut]

Net long. Partial position.

Yesterday dented the technicals pretty good, but I did not get a sell on my mechanical model.
The overbought condition was substantially cleared yesterday, which is constructive.

I think the odds still favor a test of last week's high before the bull gives up the ghost. (Guessing the test may not unfold in earnest until next week.) The rally from the October low seems too strong to simply reverse hard. But who knows.
If we get another drop, and it looks bottomy, I'll extend the long a bit more. If not, I'll ride the current position up.
A break of SPY 119 would force the hedges back on.

I think we have to score a point for the market astrologers. Friday 10/28 was a Bradley Turn date. So, Thursday's top was written in the stars... Spooky.

Yesterday, I mentioned Cobra's 1,000 target in my morning post. To be clear, I did that not to make a prediction but to provoke an open mind. The strength of the October rally has removed the thought of new lows from the consensus view. That gets my contrarian guard up. We all know Mr. Market likes to mess with people's heads. So, while the herd does its thing, I am choosing not exclude another downside extreme from the range of possible outcomes. That said, we'll see and act on what the market brings.

[rocstocktrader]

Stock market article: “Gold Ready To Attack Prior Highs In The 1900’s”

http://stk.ly/qYFCaS

[99er]

*

[soku]

nothing to say and nothing to do now. we are at my expected reb target 1230-1235. once again, the market made all moves overnight and reflected in the opening gap then stale.
we need the next churn. fomc could be one, even tho the market expects absolutely no change.
my target of this meeting is 1217.0 to 1249.25. i mean after the result hits the wire, it will dip to 1217 then reverse toward 1249, or it will gap to 1249 then go down to 1217.
i will not trade this meeting. for fun only.

[Al_Dente]

I am back shorting SSO,
Per AL, borrow to sell short to the box

http://www.youtube.com/watch?v=s9PcMWa9 ... re=related

[bushwaffle]

I don't post on here very often because I recognize the talent in this room and feel I can't provide insight to match. But I would say in the couple months I've been on here I've seen an increasing number of people asking Cobra for clarification, each person might ask a couple times but collectively it's getting to be much. In my opinion, it's better to sit back and soak it all in, decepher things for yourself than seeking the "quick answer". Below is his opening comment, I don't view it as predicting a downtrend at all....more of uncertainty.
I'm only saying this because I've been in rooms before where this happens and witnessed it start to wear on the one provider (Cobra) and change the beauty of the site.....that's all. Apologize if seeming rude, not my intention at all

Cobra:
Gap up above yesterday's high, so chances are the gap won't be filled, not sure as almost all the gaps the next day after a Major Distribution Day got filled.

The global ES is a clear Bear Flag, so the rebound eventually would fail, well, NORMALLY.

Cobra. Who needs to pray today?

normally, today should be very bullish.

100% agree, people should learn HOW to trade here, not expect to be told WHAT to trade.

100% agree. People should use this forum as a golden opportunity to learn HOW to trade, not as a hand-holding device expecting everyone to tell exactly WHAT to trade. If you are that clueless, you definitely should not be risking money in the market.

so bears should.

NORMALLY.

Your open post predicted a downtrend today? Sorry I am a little confused, and would appreciate some clarification! Thanks much.

[Me XMan]

EUR/USD tanking...

[bushwaffle]

100% agree with Clark, people should learn HOW to trade here, not expect to be told exactly WHAT to trade.