03/06/2012 Intraday Watering

[BullBear52x]

for fun, no trade just study it, one day I might be crazy enough to play it.

[Al_Dente]

5min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =259571035

[Cobra]

Bulls have faith: the day is still young but a couple of these short term setups may come to fruition by the end of the day if SPY stays put or goes lower.

better SPY down 4 days in a row, then bulls have more chances.

If today red, This would be 3?

yes, 3.

[fehro]

target reached on triangle. Bounce near here? or 1320ish next stop green channel 60m SPX?

[L_T]

Coal, steel, fertilizer, miners all down (coal has been destroyed in the past few sessions). I'm looking for something to short but I feel I have missed the boat on most of those. XLF and large financials however look to be just starting their breakdowns. What are people's thoughts?

[BullBear52x]

Coal, steel, fertilizer, miners all down (coal has been destroyed in the past few sessions). I'm looking for something to short but I feel I have missed the boat on most of those. XLF and large financials however look to be just starting their breakdowns. What are people's thoughts?

Support right here now, below 14.50, next target is 14. I am selling thru FAS

[Denali92]

VERY Interesting day - just a few observations....

1) We finally after 83 days have a confirmed HOURLY RSI Buy signal in the MIDs - though after doing some research on super extended markets - IF I take it, it will only be for a scalp trade

2) MID - RUT got to 175 - it is now 165 - if it corrects normally, the target is still a return to the 145 - 150 range

3) Today - on a daily chart - looks remarkably similar to August 4th, 2011! especially in the RUT!

4) If we follow the corrective analogs that have us bottoming next week (Oct 09 and Feb-Mar 2007, 2008, 2009 and 2011), there will be one day either tomorrow or Thursday where there will be a decent head fake bounce - the BIG question for COBRA towards the end of the day - is whether Thursday (the ALWAYS bullish day!) or tomorrow, Wednesday, is the day....

Cobra: I'll be back later to see if we can get your thoughts on tomorrow's possibilities prior to the close as there will be a bounce in here tomorrow or Thursday.

Thanks,

-D

[uempel]

Cobra, my charts show slight support around 1340, this would correspond with your 2.5% suggestion. I don't see good support at that level, just a wee bit.

[soku]

i think tradergirl mentioned 3/7 is some astro day. if u ask me, it is 3rd anniversary of THE major bottom. also some gann day around.
i don't trade these dates, but i don't ingore them.

[uempel]

target reached on triangle. Bounce near here? or 1320ish next stop green channel 60m SPX?

Yeah, I prefer 1320, 1340 looks too weak.

[uempel]

i think tradergirl mentioned 3/7 is some astro day. if u ask me, it is 3rd anniversary of THE major bottom. also some gann day around.
i don't trade these dates, but i don't ingore them.

Long term charts show several cycles...

[soku]

Cobra, my charts show slight support around 1340, this would correspond with your 2.5% suggestion. I don't see good support at that level, just a wee bit.

i cover around es 1345 because it is the largest tpo block. we don't have volume support for the rally at all. this support is just time. the market spent most time around 1345 area. it is very weak support but i think they are going to play it as they have nothing in hand. another slightly better support is high 1320-1330 area. overall i am still looking for sub 1300 level

[L_T]

Gap fill target for FAS at 85? Maybe happens this week?

Coal, steel, fertilizer, miners all down (coal has been destroyed in the past few sessions). I'm looking for something to short but I feel I have missed the boat on most of those. XLF and large financials however look to be just starting their breakdowns. What are people's thoughts?

Support right here now, below 14.50, next target is 14. I am selling thru FAS

[SWalsh]

No I have not shorted my pet..I was reading last night and wish I had .This group of stocks may be good for shorting for now.Come on give me a comment on YOKU ,you got my interest up.

i cover here and i am done for today.
i yelled to put the pet on 3/1 around 12. at that time the stock price was above 114. i just hedged around 106. you miss big profit, man.

I guarantee you will love Mark Douglas's book, "Trading in the Zone", if you have not read it already. Emotional Rule #1 "I am a consistently successful trader", and you become that by booking profits. Anyone wanting to be a serious trader should read it. So for all those lurkers here, buy it and it's not necessary to thank me. You'll see why though after you read it. Trading is a mind game and Douglas is the best at helping you navigate that mine field in one's brain.

[bbc]

No I have not shorted my pet..I was reading last night and wish I had .This group of stocks may be good for shorting for now.Come on give me a comment on YOKU ,you got my interest up.

i cover here and i am done for today.
i yelled to put the pet on 3/1 around 12. at that time the stock price was above 114. i just hedged around 106. you miss big profit, man.

I guarantee you will love Mark Douglas's book, "Trading in the Zone", if you have not read it already. Emotional Rule #1 "I am a consistently successful trader", and you become that by booking profits. Anyone wanting to be a serious trader should read it. So for all those lurkers here, buy it and it's not necessary to thank me. You'll see why though after you read it. Trading is a mind game and Douglas is the best at helping you navigate that mine field in one's brain.

it's an old classic, worth reading.

[BullBear52x]

Gap fill target for FAS at 85? Maybe happens this week?

Coal, steel, fertilizer, miners all down (coal has been destroyed in the past few sessions). I'm looking for something to short but I feel I have missed the boat on most of those. XLF and large financials however look to be just starting their breakdowns. What are people's thoughts?

Support right here now, below 14.50, next target is 14. I am selling thru FAS

I think so, check out the volume profile 85 should be the area.

[Cobra]

key time, rebound here would be double bottom.

[SB73]

Look at the volatility in TVIX 5 min chart...wow. Took some more off at 17.40. Unfortunatley stops are all the way in the mid 16's at this point. I hate having a stop so loose.

[BullBear52x]

key time, rebound here would be double bottom.

no line in the sand to draw anything out, market is too weak.

[Al_Dente]

Look at the volatility in TVIX 5 min chart...wow. Took some more off at 17.40. Unfortunatley stops are all the way in the mid 16's at this point. I hate having a stop so loose.

senor
compare it with UVXY