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Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 3:47 pm
by xfradnex
Looking on Cobra's chart, there looks to be alot of total volume today. Is this exhaustion?

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 3:47 pm
by cougar
Alka-Seltzer to the rescue!

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 3:48 pm
by SigmaEcho
jarbo456 wrote:see...whatever triangle...we break to the upside.

ES down only 18 pnts. over an hour to go to get green. :o

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 3:50 pm
by Cobra
xfradnex wrote:Looking on Cobra's chart, there looks to be alot of total volume today. Is this exhaustion?
the very first few down days with big volume is not exhaustion. it's just the beginning. after a few more days down if you see volume surge, then it's exhaustion.

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 3:50 pm
by knock
BullBear52x wrote:
knock wrote:
BullBear52x wrote:not a wave guy, just for fun.
can you advise what pattern this is? I try to learn how you come up with the pink dot.
I will put it as 123 pattern and put target to a recent support, which now turns resistance.
appreciated!

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 3:51 pm
by MrMiyagi
What upside level needs to be passed to gain a new support?

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 3:51 pm
by 99er

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 3:53 pm
by KENA
See you guys tmorrow heading intown for food and something different etc..My long swing trades are a little red but I had a little cushin in them so holding to see what tomorrow brings. I see right now we are getting a little bounce. Lets see.

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 3:54 pm
by chodaboy19
VIX is still above 35

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 3:56 pm
by SB73
Small caps lagging which is very interesting since I would have assume major risk off. Still riding out shorts, but took 1/3 off.

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 3:56 pm
by 99er
ES
Pausing at the 75% line of the down channel. Go bears!

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 4:01 pm
by L_T
Cobra I re-read your post last night and was curious about this:

Even it breaks down tomorrow, before the Nov 1st lows being taken, officially the trend is still up, so bears still have a long way to go.

If we close here is the short term trend now officially down? Would you say the bears today completed what you called "long way to go" in one day's move?

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 4:04 pm
by BullBear52x
I am closing my shop early today :mrgreen: holding 1/2 shorts over night, expect a bounce but not to go :lol: over 123.5, if so.......well a reversal idea will not be a bad guess.

Thanks Cobra and everyone here for great insights, GLTA

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 4:05 pm
by Cobra
little trend line here, I won't count on it.

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 4:06 pm
by jarbo456
IWM, small caps, seem to be bouncing the hardest. IWM 72 looks to be pretty important for the bulls to defend.

multiple fights over this level.

backing the chart out, it lines up to a perfect 50% fib line from a LONG time ago.

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 4:06 pm
by MrMiyagi
So it needs to break 122$ to be somewhat bullish.

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 4:07 pm
by Cobra
L_T wrote:Cobra I re-read your post last night and was curious about this:

Even it breaks down tomorrow, before the Nov 1st lows being taken, officially the trend is still up, so bears still have a long way to go.

If we close here is the short term trend now officially down? Would you say the bears today completed what you called "long way to go" in one day's move?
still long way to go. officially the trend is still up if close right here.

trading is different however, because you trade EXPECTATION, so you cannot wait until I say, oh, it's officially down. You have to balance the risks.

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 4:07 pm
by BullBear52x
Last chart, intraday is bullish until yellow line failed for support.

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 4:08 pm
by Me XMan
CLosing low will setup for bounce tomorrow?
BullBear52x wrote:I am closing my shop early today :mrgreen: holding 1/2 shorts over night, expect a bounce but not to go :lol: over 123.5, if so.......well a reversal idea will not be a bad guess.

Thanks Cobra and everyone here for great insights, GLTA

Re: 11/17/2011 Intraday Watering

Posted: Thu Nov 17, 2011 4:09 pm
by stucap
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