03/23/2012 Intraday Watering

[johnnywa]

Maintain the Evil Plan for Monday Tuesday,looking for end of quarter window dressing then things may get messy

[Harapa]

Expect heavy defense of L1 and L2. L2 is a buy point for longs per DeMark. For more details see here viewtopic.php?f=2&t=483&sid=c9c5cadd767 ... 3b6#p66080

Expecting SPY to reach 139.77 minimally before EOD. Today setup produced two buys, one at L2 and one at H1

[Cobra]

well, looks like it's only one small leg down, need adjust plan.

[Cobra]

poked through resistance, target might be red moving average above.

[Cobra]

volume surge, biggest bar, so might be a small pullback here.

[BullBear52x]

Ding ding ding, now sell-able. sell the rips team is on shift.

[SB73]

Volume disappears and melt up starts. I love it. These are the best and easiest long trades to make. 200 SMA on the 5 min chart now acting as resistance. This seems like a good place to take a breather and consolidate or reverse if there is such a thing. Stops sit just below the EMA 20.

[KENA]

SOKU..You have not answered my last 2 questions..Yesterday and today..Are you mad or something.????

[Cobra]

the bias is clear up, but bulls don't want to see a little bit larger pullback here (equal to the size of tinted area).

[BullBear52x]

spy

[Cobra]

lunch time, will be back. again, no pullback allowed here, otherwise it'd be different story.

[knurbs]

SPY Ascending triangle anyone?

[OverUnder]

SPY right up against Tuesdays pivot low.

[BullBear52x]

Hourly, bulls no black bar for a turning point for up swing yet, need to see this MACD turn to be comfortable. intraday sell is on right now.

[Petsamo]

Can we fall now?

[stucap]

Can we fall now?

No, we're back in the no-red zone. Sorry.

[OverUnder]

Interesting how upper yellow trendline extends back all the way through yesterday. Also interesting the rising wedge.

lunch time, will be back. again, no pullback allowed here, otherwise it'd be different story.

[uempel]

Paging Uempel (Dr. Eclipse): What are your thoughts on the following charts. Put the first together a month ago after Cougar posted it. Found it skimming through charts last night. Second is same just shorter timeframe. Positive D on RSI and MACD. Is there typically a 'reaction' once it reaches the end of the eclipse?

Thanks

Sorry ClarkW, I only follow 10 stocks and 2 or 3 indices. I know their idiosyncrasies and I don't trade anything else. Suggest you check the monthly, weekly, daily 10 years back, check how the stock behaved when the markets were falling or when goldilocks was seducing. Check if the stock outperforms/underperforms the sector.

I don't trade any index or stock that I haven't followed for a few months - I just don't know how the stock "behaves", don't know support and resistance levels

If you are convinced the stock is a buy and an outperformer in the sector you can go long the stock and go short the sector. You'll need some money but this kind of trade helps reduce the market risk...

I know this info won't help you much but it's all I can give you...

[trader0303]

I know there are some options traders here, so I thought I'd ask...

I've been doing a very simple options strategy for a few months and have had success, and it seems too "low risk" that I must be overlooking something.

I sell a call above the stock price, and sell a put below stock price betting that the stock will stay in the range, and both will expire worthless.

I manage it by if the stock reaches my call price I buy the stock, and sell it if it goes back into my "range" . Inversely if it falls to my put price I short the stock, and cover my short when it rises back above my put price.

So, even if it goes out of my range, my risk is covered. I do this when I have the cash in the account to cover buying or shorting the stock to manage position. What am I missing besides overnight gaps?

[SWalsh]

overall game is over for bears

I get myself in trouble when I use definitive statements. I like the words "Likely", "If", "Maybe", and "Perhaps".

But in a BTFD world, you are probably right.