07/26/2011 Intraday Watering

[Cobra]

green line holds the key, you don't want to see the breakdown which would be a Double Top. Lunch time, will back!

[BullBear52x]

SPX
From one rhomboid to another...
http://99ercharts.blogspot.com/2011/07/spx_8025.html

Nice, also Fib fan confirmed it.

[99er]

cougar: Name That Tune

"Distribution, Baby."?

[Dow Trader]

Mostly there will be a back test after the price breaks the a long and strong trend

[cougar]

99er: Right...LOL!

[Dow Trader]

Now it is time for the chart that bears will don't like it at all, it is the daily chart for AUD ( the leader specially in the last 6 months ) with a scary daily candle near the 52 weeks high. Keep in mind that we still in July

[AK84]

zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz...........................

[agnosia]

/cl market is just taking out stops above and below... market closed at 99.20 yesterday, lets see if we just close at this level again.

[Cobra]

no good, still not confirmed breakdown, but you may want to know the target if indeed.

[Dow Trader]

Could Dow ignore the leader

[Cobra]

I see small double bottom here, so hopefully the rebound could bring bulls out of danger.

[Dow Trader]

EUR & AUD at the high of the day now

[Cobra]

good, very good, let's see if the 3rd touch on the upside would bring us the breakout which usually is more likely.

[Cobra]

too early to say, but measured move target, in case you want to know, if indeed breakout which is more likely as I said a moment ago.

[agnosia]

good, very good, let's see if the 3rd touch on the upside would bring us the breakout which usually is more likely.

you see we just needed some bear juice from the double top breakdown fake out.

[hiram]

good afternoon,

first like to thank cobra for the fantastic forum and all his hard work including the blog of which i have read daily for what seems like yrs. secondly i would also like to thank the rest of the crew who posts on a dialy basis. i cant stress enough how much i have learned via the multitude of different styles and strategies. i have been day trading options in gold silver and miners since may of 2005 and upon their individual launches became very active in options of agq zsl gdx gdxj. when necessary i also use options in faz and tza for the evil side.

i have as of today exited my 220 aug 20 calls in agq for a nice 50% profit and i now prefer to sit in cash until next clear trend sets up

my question is for 99 based on your charts via gold silver and spx all point to lower values ahead but recentley gold has become a risk off trade and so has silver which is clear divergence to the last couple years correlation only seneraio i can see where gold silver and spx drop together is if america defualts which would cause a temp panic that supports your dollar chart.

any comments on gld slv gdx gdxj or agq-zsl would be of great intrest to me. thanks in advance


hiram

guelph ont canada

[hiram]

ohh forgot to ask agnosia you still short silver?

hiram

[Cobra]

breakout indeed, multiple resistances here though, volume surge, so could be a pullback of some kind, but I think the pullback shall fail, there should be more on the upside, maintain the target.

[Cobra]

good afternoon,

first like to thank cobra for the fantastic forum and all his hard work including the blog of which i have read daily for what seems like yrs. secondly i would also like to thank the rest of the crew who posts on a dialy basis. i cant stress enough how much i have learned via the multitude of different styles and strategies. i have been day trading options in gold silver and miners since may of 2005 and upon their individual launches became very active in options of agq zsl gdx gdxj. when necessary i also use options in faz and tza for the evil side.

i have as of today exited my 220 aug 20 calls in agq for a nice 50% profit and i now prefer to sit in cash until next clear trend sets up

my question is for 99 based on your charts via gold silver and spx all point to lower values ahead but recentley gold has become a risk off trade and so has silver which is clear divergence to the last couple years correlation only seneraio i can see where gold silver and spx drop together is if america defualts which would cause a temp panic that supports your dollar chart.

any comments on gld slv gdx gdxj or agq-zsl would be of great intrest to me. thanks in advance


hiram

guelph ont canada

Thanks and welcome aboard!

[cougar]

For those interested in oil: The commodity itself is gyrating mindlessly, but some oil stocks seem to be making a serious move. Among them the Brazilian PBR suffered a lot being a major BVSPA component that the Boyz decided to sell for quite a while. But as BVSPA is starting to break a terminal diagonal and go UP,PBR is also starting to move.
If anyone is interested, I will show 2 or 3 charts.