09/16/2011 Intraday Watering

[Cobra]

multiple supports here.

[Cobra]

pullback target, my guess.

[MajorEasy]

SPY Monthly - we crossed back below the 20 SMA. You could easily read this chart as Bullish or Bearish.

I don't think we get much below the BB(10,2) so I'm closing my short at 119.50 area. What? I'll take $2 anytime.

here's the same monthly chart, there's is nothing bullish about it.
but why would anyone use a monthly chart for a trading decision?

A little thing called support and resistance. It's a good thing to know...on all time frames.

Thx for sharing, whatever floats your boat.
everybody has their own unique indicators to help trigger their trades...

[Mr. BachNut]

Given the announcement yesterday that the Central Banks had coordinated to provide $ to help out the Eurpopean banks, I had assumed that the TED spread (the difference between 3mo. T-Bills and 3mo. LIBOR) would have turned down. It continues to tick up! This is an interesting divergence to the action in equities. There is still rising concern about the banks.

[lqiantobe]

corba~ today is bullish bias,isn't it? But it look like bull is weak....

[Cobra]

corba~ today is bullish bias,isn't it? But it look like bull is weak....

no, not bullish biased. I'm mostly quiet simply because I dare not say any bearish biased stuff anymore.

[Cobra]

Given the announcement yesterday that the Central Banks had coordinated to provide $ to help out the Eurpopean banks, I had assumed that the TED spread (the difference between 3mo. T-Bills and 3mo. LIBOR) would have turned down. It continues to tick up! This is an interesting divergence to the action in equities. There is still rising concern about the banks.

right, interesting.

[zudec]

re: mutual funds

read marketoracle article that said MFs had little dry powder - est was about 3% of total funds. MF inflows are decreasing (unemployed don't make 401K contributions) and 401k outflows are increasing (due to unemployed taking loans and early, unexpected retirees beginning some distributions now).

The theory expressed by author was mutual funds will NOT be the buyers everyone thinks. Admittedly article was short on specifics.

[Al_Dente]

If this is right, and i'm a newbie, we have broke down.

Thanks quiet newbie
I see it too
But I keep fanning out my uptrend line, because The Cobra told me, he said Al, “… never ever underestimate power of the bull side”
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =243368793

[KENA]

I have said this befor but there is a dome effect forming on the spy.You can see it good on the one min line.Lots of time they do not work out.If it does then we will berak below todays low.

[Cobra]

Pardon my Newbieness... but what is a phantom bar? How does it occur? I saw it on SPY...

first of all, welcome aboard.

The phantom bar is a false tick on SPY intraday chart on stockcharts.com. See red cycle. usually that false tick will be reached within a few days. It actually reflects big guys doing behind us in the dark pool. so that's why it's amazingly accurate.

[cougar]

SPX is now being rejected at the EMA(34). A SELL signal is now imminent, but it might linger until Mon morning, due to OpEx shenanigans.
Sold all longs and I am ready to go short with a small position…to start.

[uempel]

SPX is now being rejected at the EMA(34). A SELL signal is now imminent, but it might linger until Mon morning, due to OpEx shenanigans.
Sold all longs and I am ready to go short with a small position…to start.

Yeah, I see other bearish signals.

[KENA]

99er..I read the other day that there was a H & S forming on the VIX.I have looked at some charts on the VIX but cannot see an H&S forming.Do you have a chart that does???? Thanks

[quientuves]

The good pupil only speaks to praise the teacher or ask important things. The rest of the time it's better to be quiet, concentrated... and learning. If you disturb teachers with silly things, usually you loose important things. That's why i try to be quiet.

[RealMoneyIssues]

The good pupil only speaks to praise the teacher or ask important things. The rest of the time it's better to be quiet, concentrated... and learning. If you disturg teahcers with silly things, usually you loose important things.

Yup, gotcha...

Cobra, YOUR AWESOME

[MajorEasy]

Don't laugh, - these forks are legit.
the trend can change to bullish and be easily be broken at 1210

[MajorEasy]

The good pupil only speaks to praise the teacher or ask important things. The rest of the time it's better to be quiet, concentrated... and learning. If you disturb teachers with silly things, usually you loose important things.

Cobra and all board members are also awesome!

Cobra --- thank-you for providing this forum....

[RaniIZking]

Cobra,

I also wanted to thank you for your forum, I am here religiously everyday to guide me as to what to do. I lost $25,000 trading with a friend in the past 6 months doing what I see now was very risky and foolish trades (I am very new to trading)... but following your advice and one other person I follow I have been making a steady comeback.

Its amazing to me how on target you are so much of the time. I am slowly learning from the other people on the forum, just trying to pickup the jargon as well.

I am fascinated with trading...

Thanks again!

[ultramarine]

SPX is now being rejected at the EMA(34). A SELL signal is now imminent, but it might linger until Mon morning, due to OpEx shenanigans.
Sold all longs and I am ready to go short with a small position…to start.

Maybe you can label the moving averages you use. I find it hard to read this chart. Thanks!