04/28/2011 Intraday Watering

[Out of Bounds]

My retail friends are telling me that big sales have stopped working. Customer are not buying like before. Where sales might bring in extra customers before, now the sales only bring in the normal customer - and without the sale, the regular customer is staying home. Average tickets are dropping and comp sales are dismal - this is especially bad when considering that comp sales are up against poor numbers to begin with.

http://money.cnn.com/2011/04/27/news/co ... ney_latest

[jimmythegeek]

Slow trading day, looks like they just ran the sell stops on QQQ below 59, then back up to range. Only .06 below yesterday's close....

[alvian33]

cobra, if today up again, we will have spx above its BB for three consecutive days, so this should be even more bearish than your last night report, you mentioned the prob of shorting at yesterday close was above 80%, so today should be even better if green again? A bit confused, since you also mentioned to short yesterday, but if up today, you mech. system will be in buy mode, thanks in advance

[Cobra]

still the story is ChiOsc.

[Cobra]

cobra, if today up again, we will have spx above its BB for three consecutive days, so this should be even more bearish than your last night report, you mentioned the prob of shorting at yesterday close was above 80%, so today should be even better if green again? A bit confused, since you also mentioned to short yesterday, but if up today, you mech. system will be in buy mode, thanks in advance

CI mode will hold weeks so it's for intermediate-term.

what I mentioned yesterday night is in short-term session, remember?

Up huge today, then close above BB top for 3 days in a row but the odds are still 80% because if you read the condition carefully: cover at the very first day that SPX close below the BB top.

[StrikePrice]

Good stuff everyone. Cobra, I agree you should add a donate button to your blog.

It looks to me like the market wants to test 1363 on the S&P. I'm thinkin' it will stop a little early so I'm looking to short above 1360. My target would be back at 1345.

Cobra,

When I first started reading your blog, you were all about Bullish Mondays. Lately, it seems to be Bearish Mondays. Any data that can point to the pullback lasting until Monday?

[MiniMilt]

still the story is ChiOsc.

Speaking of ChiOsc, look at the ChiOsc on the SLV 60-minute compared with readings over the last year. Absolutely off the charts!

Looking to make three short entries starting here at $48.24 with the final buy in the $48.64-$48.84 range.

[Cobra]

Good stuff everyone. Cobra, I agree you should add a donate button to your blog.

It looks to me like the market wants to test 1363 on the S&P. I'm thinkin' it will stop a little early so I'm looking to short above 1360. My target would be back at 1345.

Cobra,

When I first started reading your blog, you were all about Bullish Mondays. Lately, it seems to be Bearish Mondays. Any data that can point to the pullback lasting until Monday?

Monday has the tendency to either constantly green or red. So guess we're in constant red period now.

And don't hope for this Monday because it's the 1st trading day of the month which suppose to be very very very very (insert 100 very here) bullish.

[Cobra]

tough call here. there's a slightly higher chances for a 2 legged pullback here. just a wild guess. not sure. (mostly I don't say not sure if I see some evidences, so this one, just a guess)

[PLUNGE]

$SPX bullish flag target is 1380:

http://stockcharts.com/c-sc/sc?s=$SPX&p ... 227&r=3616

[StrikePrice]

Good stuff everyone. Cobra, I agree you should add a donate button to your blog.

It looks to me like the market wants to test 1363 on the S&P. I'm thinkin' it will stop a little early so I'm looking to short above 1360. My target would be back at 1345.

Cobra,

When I first started reading your blog, you were all about Bullish Mondays. Lately, it seems to be Bearish Mondays. Any data that can point to the pullback lasting until Monday?

Monday has the tendency to either constantly green or red. So guess we're in constant red period now.

And don't hope for this Monday because it's the 1st trading day of the month which suppose to be very very very very (insert 100 very here) bullish.

Hmm...tough call then. My trendlines show 1363 would be hit at 3pm today so we could be in for a trend day if the current resistance doesn't hold. Sorry I'm not posting the chart, freestockcharts.com crashed when I tried to create the image. Silverlight sucks.

[BullBear52x]

New high enough to take out shorts stop, I think we roll down now

[Cobra]

ok, pullback as I guessed. so if my guess is correct, this should be a 2 legged pullback. again, no evidences just a guess.

[99er]

PM Update
Gold: http://99ercharts.blogspot.com/2011/04/gold_28.html
Silver: http://99ercharts.blogspot.com/2011/04/silver_28.html

[BullBear52x]

Classic Bulls trap

[Cobra]

just kidding. if the dollar keeps dropping like this, eventually I have to ask you guys for money (because I earn dollar but spend in CAD and this is true that I lost more than 40% of my properties simply due to dollar depreciation! those who live in US don't have single idea, how much dollar depreciation can affect the other's life!). and please, the money has to be CAD, absolutely no US$ please!

[Cobra]

volume surge, so rebound I shall guess?

[Tabby]

Cobra,
how about frsh frogs? it is green too and not taxable.

[q2model]

just kidding. if the dollar keeps dropping like this, eventually I have to ask you guys for money (because I earn dollar but spend in CAD and this is true that I lost more than 40% of my properties simply due to dollar depreciation! those who live in US don't have single idea, how much dollar depreciation can affect the other's life!). and please, the money has to be CAD, absolutely no US$ please!

Can u use your methods for Canadian market?

[Cobra]

Cobra,
how about frsh frogs? it is green too and not taxable.

cannot be too many frogs because animal protection groups would sue me and law cases need more CA$ (not US$).