12/05/2011 Intraday Watering

[Dow Trader]

Today's price action and pattern so far in 5-min Dow

[jarbo456]

Strange behavior with today's move up; TLT, TBT, TVIx, VIX, UUP, US$ index not totally agreeing with it.

right.

and /dx and vix as been slowly gaining strength through the day. /dx down .44% and VIX down 1.96%

[Cobra]

that's nice, we gap up almost everyday then spent the day doing nothing. I don't think this kind of behavior is bullish.

Dearest King Cobra
Sure, I know you don’t have time to listen to songs
But this one is especially for you
http://www.youtube.com/watch?v=yDMJx8dyxWE

Yeah, I love this song, thanks.

[jarbo456]

Today's price action and pattern so far in 5-min Dow

are you still short dowtrader? i had a lot of confidence in my short on friday because of you... jk

[Cobra]

that's nice, we gap up almost everyday then spent the day doing nothing. I don't think this kind of behavior is bullish.

Cobra, might be the cheapest way to boost the market. Push up futures pre-opening, keep the market up by buying all supports.. To me the whole thing looks a bit like distribution, but I'm unsure and am waiting to see what happens in 40/50 minutes.

Yeap, that's what I was trying to imply. I just didn't want to see that because I don't want to be sound too bearish.

[Dow Trader]

Today's price action and pattern so far in 5-min Dow

are you still short dowtrader? i had a lot of confidence in my short on friday because of you... jk

yes I am short in my long term account and long today at 1255.00 today for swing and holding so far ( you can check my blog for today's long positions )

[jaijailyc]

Got stopped out of my TZA during lunch, all cash now. Flying to Vegas for the next couple of days for work. Good luck everyone!

[HappyFriday]

consolidate at the top for so long. Give another 5 mins MAX, if nothing shows up, flush it.

[Buckethead]

When central banks influence macro, ie dollar pairs, bonds and equities, remember markets are not a free market and takes on a different complexion. This all reminds me of Jackson Hole in 2010

that's nice, we gap up almost everyday then spent the day doing nothing. I don't think this kind of behavior is bullish.

Cobra, might be the cheapest way to boost the market. Push up futures pre-opening, keep the market up by buying all supports.. To me the whole thing looks a bit like distribution, but I'm unsure and am waiting to see what happens in 40/50 minutes.

Yeap, that's what I was trying to imply. I just didn't want to see that because I don't want to be sound too bearish.

[Petsamo]

Looking like an all-day rally on IWM & the banks

[StrikePrice]

Primary Count remains on track. I see no problem with this uptrend without first dropping below 1,254. I expect we carve out a Running Flat with wave C fooling a lot of Bears. So far we have yet to have a Bear paw smack down, it's been all Bull since 1,159. Next stop for wave 3 of 5 is 1,277.

Strike Price - Are you Pug?

Lol. No. He's way better than me.

But I did briefly subscribe to his service because I really respect his charting and wanted to study them for a bit. In the end it didn't help my trading and I haven't seen any of Pug's charts since August so I wouldn't know what count he is running.

Wasn't trying to offend, just noticed a lot of similarities. I check back once in a while to see if he has posted charts, but I haven't seen any for a while. Generally when he is right you see the charts, but when he is wrong you don't see anything. My guess is that he has had a difficult time in this environment like many of us.

I wasn't offended. I believe his method of charting is very good and I guess you saw that in my charts.

But I also believe everyone needs to find their own way. I believe Cobra's method is also very good and I've learned a lot from him just as I learned from Pug. But he important part is "learning" and "method". Trading is like sports or dating, you can't just copy what someone does to be good, you can apply lessons but you're going to have develop your own way. I believe a subscription to service should be thought of as no different than classes at a college, and I graduated from Pug school a better chartist, but not a better trader. Being a better trader for me is mostly up to me, not that a mentor can't help, they would just likely have to be in the same room and smack me upside the head when I make a bad trade.

[Al_Dente]

Al_ Dente, I always refer to EDT/NY, it's Greenwich minus 5 or CET minus 6. It's also the time which is on stockcharts... By the way: I asked you before, what is that vertical in your 1 min chart, the orange one

Orange line: don’t know what u mean… please clarify...happy to tell u if i can figure out what yr referring to...
If it is on the CURRENT minute it’s just stockcharts wacko yellowish/orangish dotted vertical (not mine) indicating current minute???.
Anyone?.....

[uempel]

Update, note that target signals a break - it does not indicate the direction. The min chart looks bearish, but the daily shows more upside

[BullBear52x]

Looking like an all-day rally on IWM & the banks

too many people buying TZA and EDZ I will wait for end of day see what's next. $VIX still looks like I doesn't want to go down much either from here.

[uempel]

Al_ Dente, I always refer to EDT/NY, it's Greenwich minus 5 or CET minus 6. It's also the time which is on stockcharts... By the way: I asked you before, what is that vertical in your 1 min chart, the orange one

Orange line: don’t know what u mean… please clarify...happy to tell u if i can figure out what yr referring to...
If it is on the CURRENT minute it’s just stockcharts wacko yellowish/orangish dotted vertical (not mine) indicating current minute???.
Anyone?.....

Ahh, I found out, it's volume. Volume is always lagging behind and the orange vertical shows the delay...

[Cobra]

the 2nd test. you don't want to see bulls fail here.

[SB73]

Today's price action and pattern so far in 5-min Dow

are you still short dowtrader? i had a lot of confidence in my short on friday because of you... jk

yes I am short in my long term account and long today at 1255.00 today for swing and holding so far ( you can check my blog for today's long positions )

Can you repost the link...I failed to save last time I saw it

[BullBear52x]

Al_ Dente, I always refer to EDT/NY, it's Greenwich minus 5 or CET minus 6. It's also the time which is on stockcharts... By the way: I asked you before, what is that vertical in your 1 min chart, the orange one

Orange line: don’t know what u mean… please clarify...happy to tell u if i can figure out what yr referring to...
If it is on the CURRENT minute it’s just stockcharts wacko yellowish/orangish dotted vertical (not mine) indicating current minute???.
Anyone?.....

this orange vertical line

[bushwaffle]

the 2nd test. you don't want to see bulls fail here.

Yes I do, and miserably so.

[rhight]

hopefully this kind of consolidation would bring a breakout eventually. Let's say 50 to 50 chances.

I said 100% of breakout (could be either side, up/down).

to me:

break on the upside is "breakout".
break on the downside is "breakdown".

Someone please correct my English. I'm still learning. My daughter would soon be able to correct my English but still not now.

This is from "Technical Analysis" by Kirkpatrick / Dahlquist. From this, the proper English usage would be :
"A breakout of support" , meaning a bearish move, and
"A breakout of resistance" , meaning a bullish move.
Hope this helps. This is the usage I include in notes on my charts.