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02/18/2011 Intraday Watering

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Cobra
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02/18/2011 Intraday Watering

Post by Cobra »

Flat open, so any gap will be filled and today most likely a range day plus option expiration should be up and down up and dowm mess, so difficult to trade. Experienced traders may skip today. The next week also suppose to be bearish. The chart by the way looks not bad, seems another base and breakout setup on going so I don't find it bearish at all.
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Forevergreen
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Re: 02/18/2011 Intraday Watering

Post by Forevergreen »

Morning
chickencoop
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Re: 02/18/2011 Intraday Watering

Post by chickencoop »

good morning
slcgh
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Re: 02/18/2011 Intraday Watering

Post by slcgh »

Good morning!
simpletrader
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Re: 02/18/2011 Intraday Watering

Post by simpletrader »

Cobra wrote:Flat open, so any gap will be filled and today most likely a range day plus option expiration should be up and down up and dowm mess, so difficult to trade. Experienced traders may skip today. The next week also suppose to be bearish. The chart by the way looks not bad, seems another base and breakout setup on going so I don't find it bearish at all.
From the book "the cat in the hat", the game is called "up up up with a fish"
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99er
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Re: 02/18/2011 Intraday Watering

Post by 99er »

Morning!
Nice day to be a bear.
EURUSD: http://99ercharts.blogspot.com/2011/02/eurusd_18.html
And it's a 1, a 2 and a 1, 2, 3.
markyuan81
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Re: 02/18/2011 Intraday Watering

Post by markyuan81 »

MORNING
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99er
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Re: 02/18/2011 Intraday Watering

Post by 99er »

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99er
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Re: 02/18/2011 Intraday Watering

Post by 99er »

Dow Futures
So will the Wolfe Wave work?
http://99ercharts.blogspot.com/2011/02/ym_18.html
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Re: 02/18/2011 Intraday Watering

Post by pezhead9000 »

MrTopstep: The market are still trending higher. Is it possible we see some profit taking going into the long weekend? Its quit possible but the overall
tone and price action remain the same. As we stated earlier in the week; one of the PIT BULLs rules we follow is to not fight the trend and to us that means buying weakness. KEEP AN EYE ON THE 10 HANDLE rule and USE STOPS.
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Re: 02/18/2011 Intraday Watering

Post by cletus »

All rectangles are the same height -- this is the size of some sharp rallies without a major pullback. Can't believe this will go on much longer without a 5-10% pullback http://stockcharts.com/h-sc/ui?s=$SPX&p ... =210657113
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Cobra
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Re: 02/18/2011 Intraday Watering

Post by Cobra »

Opening, intial support.
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Cobra
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Re: 02/18/2011 Intraday Watering

Post by Cobra »

Could be very boring day. Here's bigger picture, a perfect Rising Wedge (as both side are 3 point validated).
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Re: 02/18/2011 Intraday Watering

Post by cletus »

VIX again acting weird. I don't understand how it can move 6% up and down in 5 minutes
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Cobra
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Re: 02/18/2011 Intraday Watering

Post by Cobra »

cletus wrote:All rectangles are the same height -- this is the size of some sharp rallies without a major pullback. Can't believe this will go on much longer without a 5-10% pullback http://stockcharts.com/h-sc/ui?s=$SPX&p ... =210657113
Don't remember where I saw, the current rally can only matched by 1920s somthing. Cannot find the chart now.

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Re: 02/18/2011 Intraday Watering

Post by auger »

cletus wrote:VIX again acting weird. I don't understand how it can move 6% up and down in 5 minutes
OPEX ;)
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Re: 02/18/2011 Intraday Watering

Post by cletus »

Reasons today could be a turn date:

1) OPEX days are often turn dates
2) Full moon today
3) Spiral dates has today as the highest score in Feb.

Now whether this is a bottom or a top, clearly the market is rising into it so more likely to be a top, but sometimes it's difficult to tell until after the fact

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Cobra
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Re: 02/18/2011 Intraday Watering

Post by Cobra »

Back to range high, could be another breakout, after that better a consolidation of something, otherwise I'd doubt the validity because it simply travells too long to breakout. Or a little consolidation here before the breakout is even better.
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Re: 02/18/2011 Intraday Watering

Post by Dow Trader »

Copra,
regarding the chart of 1920, if I remeber correctly, the initial rebound was around 60% and I think we are at 65% or so at 1240 and here are some links that may help:
http://newsusa.myfeedportal.com/showitem.php?itemid=171
http://a.imageshack.us/img683/4879/dow1930todow2010.png
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Cobra
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Re: 02/18/2011 Intraday Watering

Post by Cobra »

Dow Trader wrote:Copra,
regarding the chart of 1920, if I remeber correctly, the initial rebound was around 60% and I think we are at 65% or so at 1240 and here are some links that may help:
http://newsusa.myfeedportal.com/showitem.php?itemid=171
http://a.imageshack.us/img683/4879/dow1930todow2010.png
Thanks. The period I mentioned could be 30s or something where stock market rose 100%. The 3rd instance in history.

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