12/02/2011 Intraday Watering

[Petsamo]

another interesting bar this time TNA

The bad tick is in ScottradeELITE also

[heavenskrow]

Twins?

please let me know if and when its reached.

[BullBear52x]

FIVE DAYS
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =245360380

Thanks Dr. Al. I will study your chart set up carefully this weekend.

[Cobra]

clear 3 push up here, so should be 2 legged or the last try on the upside won't be able to make a decisive higher high, a little bit bigger pullback should be around.

[noob]

cobra~ though it doesn't look good for bull now, I feel it won't close LOD, waht do you think?

No, I still believe a green day today.

Can close LOD and still be a green day. If close around here, black bar as you've predicted, then call top?

[StrikePrice]

Primary Count is in a Wave 5 Ending Diagonal. Easily can be more to the upside even if the green trend line gets broken some.

I closed my Long at 261.8% fib extension from wave 1 but will gladly day trade a retest of today's high if we break to the upside. Already hedged at 1,260 and will hold that for the bigger pullback that can start today or with a mighty monday gap down.

[tdo722]

BB52X. Holding long or short?

bear flag, measure move will sit below yellow zone, not good.

please let me know your thoughts, BB52x.

1. we have some sort of reversal yesterday, warning #1, crossed back below yellow line after briefly crossed over yesterday.
2. today is sell able day, but to confirm the sell we must stay below the yellow line. since we gap up and stay up above it at this moment, tight stop is a must or if the market manage to close above this yellow line, the up move continuation is where you should be.
remember this is counter trend move, danger!

cool, thanks much!

[quatzl]

Chickencoop and Quatzi:

Most TA ideas are based on Newtons 3rd mechanical law, tools are just assistance to understand Newton's ideas of price movement. These applications were finetuned 100 years ago and they worked. Don't know who was first, but I guess it was way back when the stockmarket opened up in NY...

I don't want to explain Newton's law, but the base is that every action is followed by a reaction. Newton calculated the precise formula, but in principle action/reaction is one to one. Very easy to notice in channels, but it's the same with ellipses. The channel has the centerline as pivot, ellipse has the centerpoint - so everything is always moving around a center point. And the move from one centerpoint to the next means that the equilibrium of the moves are also moved - a new channel or a new ellipse is formed, intrestingly nearly always in the same size as the privious one.

Enough for today, you guys can play around with channels/ellipses and you'll find out for yourself. And don't forget to check out Al_Dente's 1 min chart. Channels/ellipses tell you where support/resistance is, Al's chart gives you an indication of direction

Thanks Uempel! Everyday the picture becomes a little bit clearer. Can't ask for much else. I look forward to future discussions.

[jarbo456]

unless we have a big end of day rally, we'll have a pretty nice star doji top on the SPX daily. that would be interesting. OIL is STILL strong though.

[uempel]

UPDATED 1min internals
Sorry, still working on new 1 min internals…here is corrected chart
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =250028427

ADDED $TNX, reliable bond indicator
ADDED UUP (the invert of udn)
MOVED VIX to my 5min charts

http://www.youtube.com/watch?v=GGm1uwRWGMM

Thanks Al, I shall integrate both of em.

Amy at her best:

http://www.youtube.com/watch?v=QmV6_oc2lwM

Al, are you sure this latest 1 min version is better? I like the bonds, but I don't like the USD and I don't necessarily need the bear fund. I tend to believe that USD is already "in" stock and bondprice, for bearish activity I check Vix...

I like Tick, the two ADs, SPY, Bonds, Vix - that's about my mix..

[heavenskrow]

TLT at resistance

[cougar]

BB52X. Holding long or short?

bear flag, measure move will sit below yellow zone, not good.

please let me know your thoughts, BB52x.

1. we have some sort of reversal yesterday, warning #1, crossed back below yellow line after briefly crossed over yesterday.
2. today is sell able day, but to confirm the sell we must stay below the yellow line. since we gap up and stay up above it at this moment, tight stop is a must or if the market manage to close above this yellow line, the up move continuation is where you should be.
remember this is counter trend move, danger!

Yes! Here is TVIX:

[dr659]

The real money was made holding Long( Say SSO) over last weekend And thru this week, All the days gains have been on those big gaps up

[Al_Dente]

FIVE DAYS
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =245360380

Thanks Dr. Al. I will study your chart set up carefully this weekend.

You are full of bs
PS: I have a hard time keeping up with your charts; are u man or machine?

Here’s what I’m doing this weekend
http://www.youtube.com/watch?v=uxFIGWm9M6w

1min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =250028427

[fulkdaddy]

I'm out of my short as well. Could have made more but at least I see my mistake. Profit is Profit!

Carlos, when I took my emphasis off my P/L and put it on discipline...to trade my plan, the P/L took care of itself.

Things I know for sure:
1) never regret taking a profit or say, "I should have..."
2) Never, ever, ever let a winning trade turn into a loser
3) be humble...it is just not about you. This is a biggie...ego and the need to be right has cost me a lot of coin.
4) try for singles and not home runs. It is a lot easier to get into the Hall of Fame by hitting singles.
5) when you wife asks you how you are doing, don't tell her..this is all about ego! Tell her how good your discipline is.
6) when the market God's are good to you, share some of it with those who are less fortunate. Get 10 $20 bills and go give them to the homeless...to pay homage to the market God's for the good fortune they bestowed upon you.
7) keep it humble...real humble...like Cobra teaches us so well.

I hope this helps! These lessons resulted in a paradigm shift in my trading were I went from survival mode to making money.

Excellent advice. Unfortunately I still don't have a system in place and still rely on emails, newsletters, advices from other. Hopefully, I'll have my own system soon. Now hit/miss 60/40.

TDO, I'm just beginning to move out of that stage and it's tough. But there is some clarity in testing your own system, for one thing, you reduce the info overload.

Great, what is the setup of your system? Still using MA, Sto?

Elliot Wave over multiple timeframes, Stochastics, Watch the McClellean Oscilator for extremes, standard deviation bands on the daily chart are excellent for extreme moves...price simply can't live at 3 or 4 st. deviation band levels for very long...look at the August and October lows, and Vix extreme moves...we are getting close to a Vix sell signal if it closes over around 25.85 today.

[BullBear52x]

FIVE DAYS
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =245360380

Thanks Dr. Al. I will study your chart set up carefully this weekend.

You are full of bs
PS: I have a hard time keeping up with your charts; are u man or machine?

Here’s what I’m doing this weekend
http://www.youtube.com/watch?v=uxFIGWm9M6w

1min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =250028427

Why you don't see me as a bull, look at my cute avatar big a** horn.

[tdo722]

Elliot Wave over multiple timeframes, Stochastics, Watch the McClellean Oscilator for extremes, standard deviation bands on the daily chart are excellent for extreme moves...price simply can't live at 3 or 4 st. deviation band levels for very long...look at the August and October lows, and Vix extreme moves...we are getting close to a Vix sell signal if it closes over around 25.85 today.[/quote]

very cool, thanks!

[Me XMan]

Closed my shorts $125.40. That line won't break. Got tested too many times today IMO.
I'll short again if $125.35 line breaks.

BB52X. Holding long or short?

bear flag, measure move will sit below yellow zone, not good.

please let me know your thoughts, BB52x.

1. we have some sort of reversal yesterday, warning #1, crossed back below yellow line after briefly crossed over yesterday.
2. today is sell able day, but to confirm the sell we must stay below the yellow line. since we gap up and stay up above it at this moment, tight stop is a must or if the market manage to close above this yellow line, the up move continuation is where you should be.
remember this is counter trend move, danger!

[jaijailyc]

Closed my shorts $125.40. That line won't break. Got tested too many times today IMO.
I'll short again if $125.35 line breaks.

BB52X. Holding long or short?

bear flag, measure move will sit below yellow zone, not good.

please let me know your thoughts, BB52x.

1. we have some sort of reversal yesterday, warning #1, crossed back below yellow line after briefly crossed over yesterday.
2. today is sell able day, but to confirm the sell we must stay below the yellow line. since we gap up and stay up above it at this moment, tight stop is a must or if the market manage to close above this yellow line, the up move continuation is where you should be.
remember this is counter trend move, danger!

Looking good so far to me... just a little more

[TWT]

SPX :A "turbid" ED should have established the fifth of this rally.

Now 5 down means at least a ZZ or DZZ.

Initial extension target range=1240-1233