08/24/2012 Live Update

[TWT]

NDX: 3-wave down legs are the Bears nightmare

[Cobra]

hopefully tinted area target could be reached, also is EMA20. not sure as it's on bear side.

[TradingJackal]

Nice channel on ES. Let's see how far the rumor mongering hopium carries us.

[MrMiyagi]

[TradingJackal]

(In a dimly lit room with amber colored letters flickering on the walls and the reek of Ben's hopium filling every crevice, a voice calls out)

Pass me the bong,
(inhale (=, yeah baby)
Strike the Gong,
Dong,
Dong,
(Chorus)
Long and strong,
Long and strong,
(yeah baby, exhale =)

[Tutti]

This market...well it reinforces the need to have a healthy sense of humor.

Tutti
Other day u said u were watching measured move on aapl chart
Could u post chart, pls ??

Sure. I don't know if I "believe" the larger target (too steal a Cobra saying )but 2 targets, one in blue one in black. Hope it helps, feel free to disagree.

The attachment AAPL MM 24AUG12.GIF is no longer available

Love the chart, and I like a good bottom as much as the next guy ; but that 648 area doesn't bother you?

Very interested in your thoughts

No, in fact 44-49 is my first area of support that I'll start defensively selling if we have a closing violation. My game plan is to ride the 10D as far as it will take me, sell 1/2 on any closing violation and ride the 20D with my last half and close the trade on the first close below. Look at the last few runs and how AAPL likes those MA's. If it stops respecting them, then the tenor has changed and I'm out.Also if the market gets ugly fast the 10D SMA is at 649 so we are right there. The 20D is at 631 and I'm in at 620s, so I'm still in the black on the trade.

My broader thoughts on this particular trade is that if the market is going to continue to rally AAPL is going to go higher. If it fails, oh well. It won't be the first trade I left too much money on the table with and I'm sure it won't be my last.

*Edit
Just an example of trading the slower MA's in aapl and how you could take a decent piece of the move trading thos MA's. Not everytime or the entrie move, but you could do well...

[TraderGirl]

FIB extension from Oct low to April '12 high puts AAPL at 50% fib extension....61% would put it at around $700 and at upper trendline, and a potential 5 waves for C....

[Harapa]

Only VIX agreed with this move but acted as follower. Volatility for other indices remain in the sell mode even in the ST(day trading)

[Al_Dente]

renko long (with “trap” always a possibility)

[Cobra]

C&H target if indeed breakout.

[Xian]

This market...well it reinforces the need to have a healthy sense of humor.

Tutti
Other day u said u were watching measured move on aapl chart
Could u post chart, pls ??

Sure. I don't know if I "believe" the larger target (too steal a Cobra saying )but 2 targets, one in blue one in black. Hope it helps, feel free to disagree.

AAPL MM 24AUG12.GIF

Love the chart, and I like a good bottom as much as the next guy ; but that 648 area doesn't bother you?

Very interested in your thoughts

No, in fact 44-49 is my first area of support that I'll start defensively selling if we have a closing violation. My game plan is to ride the 10D as far as it will take me, sell 1/2 on any closing violation and ride the 20D with my last half and close the trade on the first close below. Look at the last few runs and how AAPL likes those MA's. If it stops respecting them, then the tenor has changed and I'm out.Also if the market gets ugly fast the 10D SMA is at 649 so we are right there. The 20D is at 631 and I'm in at 620s, so I'm still in the black on the trade.

My broader thoughts on this particular trade is that if the market is going to continue to rally AAPL is going to go higher. If it fails, oh well. It won't be the first trade I left too much money on the table with and I'm sure it won't be my last.

*Edit
Just an example of trading the slower MA's in aapl and how you could take a decent piece of the move trading thos MA's. Not everytime or the entrie move, but you could do well...

AAPL MM 2009 24AUG12.GIF

As always, thanks very much

[joe-gamma]

Only VIX agreed with this move but acted as follower. Volatility for other indices remain in the sell mode even in the ST(day trading)

thank you, odd behavior of vol for a Friday? are all the premium sellers on vaca?

[MrMiyagi]

[Al_Dente]

Only VIX agreed with this move but acted as follower. Volatility for other indices remain in the sell mode even in the ST(day trading)

Boss: Here’s my take on the evil side (green refers to bull spy) INTRADAY ONLY, this moment only, can change fast, especially at spy doub top

[Tabby]

670.png

by Cobra » Aug 24th, '12, 11:33

C&H target if indeed breakout.

Maybe we should call you, Agent Miyagi, expert in unkonwn phenomenon, X files.

[MrMiyagi]

Maybe we should call you, Agent Miyagi, expert in unkonwn phenomenon, X files.

I wish I could find out all about these and trade my way to Cobra-wealth status.

[Cobra]

breakout, let's see if it could fulfill the target.

[uempel]

renko long (with “trap” always a possibility)

The attachment 824benandlloyd.png is no longer available

Great chart Al_Dente, didn't lose your edge at the Hamptons this summer

[MrMiyagi]

The Force... is too strong...

Don't fight the trend, this is going to the next galaxy.

[Tabby]

Maybe we should call you, Agent Miyagi, expert in unkonwn phenomenon, X files.

I wish I could find out all about these and trade my way to Cobra-wealth status.

Impressive thing about Cobra, He doesn't brag about his wealth and not to mention, he gets excited with his brand new Toyota, 480 KM.