11/04/2011 Intraday Watering

[trader0303]

To clarify more -- ES is the SP500 futures. I use the daily pivot.

What day are you getting 1243 from?

[xfradnex]

FIO move

[waverider]

124.85 is my mental stop...it has to be taken out...didn't execute yet...just drifting....but i'm sure after i cover it will fall hard.

please cover take one for the team!

Yeah, take one for the team! this is so funny

Lol... Everyone full bulltard! Especially because the 125.5 area is starting to look like a brick ceiling and NFP was terrible!

[Al_Dente]

using schwabs quotes
nydec hod high on day was 2361, now at 2108, meaning in the last two hours 253 stocks have moved from the red side and have gone either unchanged or to upticks
but nyadv is only 790, IMHO that is not strong enough yet for bulls take over the world… but everything can change quickly/slowly here
http://stockcharts.com/h-sc/ui?s=$NYDEC ... =246211365

[Dow Trader]

another view in the daily chart

Ahh, I like 13. By the way, what kind of shades are you wearing, as far as I see they are ray-bans

ray-bans is good, basic and traditional

[uempel]

Wanted to post a chart showing why the market might move higher - and oops SPX tanks

[Cobra]

good EMA gap short. now we all know when damn cobra lost ITS confidences, it's time for action. So far, we had OR breakdown short, first L3 short and EMA gap short as winners, while the perfect L2 short at EMA20 was a loser, what a interesting day.

[fibo618]

Cobra,

Just curious how you rate the last couple of months in terms of diffculty of forecasts? Was 2010 better... I was seeing EW forums saying something similar...

thx

[stucap]

To clarify more -- ES is the SP500 futures. I use the daily pivot.

What day are you getting 1243 from?

I see today -- 1243 pivot -- 5 minute ES chart

[Cobra]

Hi Cobra, this morning you called the opening stretched and voiced the expectation of a pullback which happened as predicted.
What is your definition of stretched? Is it the absolute size of the gap or in relation to a previous pattern?

Thank you,
Dutchy

Look at MAs on his chart. if there a very large seperation between MAs and actual the lines, they will try to meet each other in the middle somewhere. From there, who knows. Most of the time this will happen on the open(when there has been a gap up or down) or when there has been big market news. In this mornings open, there was a gap; a good opertunity for a move for 15 minutes or more. Need to figure out what the S&P implied open is and translate that to a SPY, SSO, etc. be ready to pull trigger on very open.(GLTA). I need to do this myself(find a good place that gives a good implied opening value on the Web).

Thanks for explaining xfradnex. But wouldn't that imply that every opening is stretched by this criterium? The price action is always ahead of the MAs after all. Or is there a quantitative criterium for the separation?

Note that MA setting on this 1 minute chart. When the actual price from the Red line is double the distance between the Red and Blue, this would be a good opertunity to short. The more stretched the lines are apart the better the final outcome. Need to compare all the upward humps. I marked the best one, the opening. These are rules of thumb. Need to develop the eye to see these geometries. note the distances between the lines for most of the previous day as a measure for future price/MA movements and opertunities. .

Sorry, this is a little thread from yesterday's watering..

Thanks again xfradnex and Cobra for replying. I studied opening again but am no wiser. While it is true that at opening the gap between MA and price was largest for day, this would be true of every big gap. But not all big gaps are followed by a pullback. So I am maybe very thick but I still don't see how yesterday's opening was especially stretched or how a pullback could be implied in this case compared to any other gap up..

you still didn't pay attention to the little curves above the MA I put on my 5 min chart, that's 1% away from the EMA20 which according to your Earth gravity is too much for an traday . That's the answer. The reason I don't answer you directly is I just want you to find it so can remember it.

[proteus46]

I'm gonna short this sucker when it gets to $100.

GroupOn chart.png

A GroupOn chart, be careful

I don't think it will make it to $100. A wise man on CNBC said it was worth $8.

[qtipped]

can someone tell me what kind of pattern we're in intraday...confused..

[Cobra]

Cobra,

Just curious how you rate the last couple of months in terms of diffculty of forecasts? Was 2010 better... I was seeing EW forums saying something similar...

thx

Last month was difficult to trade for a trend follower.

[stucap]

can someone tell me what kind of pattern we're in intraday...confused..

bears = pray
bulls = btfd

[xfradnex]

Papa to talk to Parliament at 2est

[Cobra]

little evil plan here for fun. let's see.

[jarbo456]

no so fast cobra. still have little confidence in the bears...they're giving it all back already.

[champix]

If you trade what you see, well you just sell CL (crude oil) when it breaks this bear flag (1 min chart) with target 92.45-92.70 zone.
But I do no know why, I am really not convinced the market is going down... we'll see

[99er]

Update

RUT http://99ercharts.blogspot.com/2011/11/rut_4167.html

[soku]

an interesting chart i got from a chat room. forgot if i shared here or not.