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Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 11:38 am
by Dow Trader
The must short term target been met and I closed my Dow with +100 points
holding my short positions in Russell and ES
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 11:39 am
by Cobra
OK, glad, sometimes the NORMAL does work (so you still need my experiences I assume). Let's wait until the trendline broken before considering buying dips if you're still bulls. I am snakee now though.
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 11:40 am
by 99er
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 11:40 am
by Fritz Baxter
Well, I've been totally stopped out of all longs.
Think I'll wait until a trend gets established before going long or short again.
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 11:41 am
by Cobra
support here and here.
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 11:42 am
by BullBear52x
FJoe wrote:Have to think if the market sells off now it will use the Japan earthquake as an excuse, rather than the real reason. Typically these internation disasters/crisis lead to buying opportunities very quickly (London bombings in 2005, Egypt and earlier Japan earthquake).
Japan had several 6.0 to 6.5 earthquakes after the initial terrible earthqake and the market didn't react. While this one is worse, it isn't the 9.0 Japan experienced in mid March.
I heard that alot in the news lately, well, trade what you see. right now market is down. I am sure at some point there will be a support or flying higher again but today in front of my screen is not a bulls friendly. today actions gave lots of important datas to technical junky trader like myself, I like what I see so far.
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 11:42 am
by simpletrader
look like a wedge is about to end.
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 11:45 am
by dr659
Cobra wrote:support here and here.
Sitting here on the sidelines watching, would you say a break below 1326 on the S&P would mean going lower? And on break above 1344 and going higher?
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 11:45 am
by FJoe
I think the key is if we break the lows by more than 2 points on the S&P (from the 10:46 1st low) then that means something and the trend has likely reversed for at least the short term.
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 11:49 am
by Cobra
dr659 wrote:Cobra wrote:support here and here.
Sitting here on the sidelines watching, would you say a break below 1326 on the S&P would mean going lower? And on break above 1344 and going higher?
My guess that my evil plan about a 2 legged down pullback has already started.
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 11:53 am
by uempel
I don't enjoy making money with the misfortune of others. I was short European markets since yesterday because of the rate hike, and then the markets dipped when the news of the Japanese 7.4 earthquake hit the wires.
Here the updated SPX chart featuring the yellow ellipse:
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 11:54 am
by 99er
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 12:07 pm
by FJoe
Cobra,
Interesting how the half hour bars still have not closed below the lowest half hour close on the S&P on 4/4 at 1329.96 at 2:00 EST.
The hourly low bar is 1330.67 at 2:30 EST on 4/4.
Does this mean anything to you...or just noise.
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 12:07 pm
by PRI
uempel wrote:I don't enjoy making money with the misfortune of others. I was short European markets since yesterday because of the rate hike, and then the markets dipped when the news of the Japanese 7.4 earthquake hit the wires.
Here the updated SPX chart featuring the yellow ellipse:
SPYIV.png
Uempel,
I share your sentiments re: Japan. Thanks for the great charts.
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 12:11 pm
by Cobra
some resistance here.
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 12:13 pm
by Cobra
FJoe wrote:Cobra,
Interesting how the half hour bars still have not closed below the lowest half hour close on the S&P on 4/4 at 1329.96 at 2:00 EST.
The hourly low bar is 1330.67 at 2:30 EST on 4/4.
Does this mean anything to you...or just noise.
Bears are much much weaker than I thought.
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 12:21 pm
by BullBear52x
All MAs are still pointing down intraday, so, side ways to down at best. TICK got both +/_ 1000 today. the +1000 is the later so lots of buyers.
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 12:32 pm
by Dow Trader
again, the market marked a must target which is at least 1 tick below today's low
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 12:36 pm
by EkOnkaar
Cobra wrote:FJoe wrote:Cobra,
Interesting how the half hour bars still have not closed below the lowest half hour close on the S&P on 4/4 at 1329.96 at 2:00 EST.
The hourly low bar is 1330.67 at 2:30 EST on 4/4.
Does this mean anything to you...or just noise.
Bears are much much weaker than I thought.
Bleeding away my gains, day by day, in this stupid ass crazy market pumped up by Bernanke..Bears are being taught a lesson..This is sick !
Re: 04/07/2011 Intraday Watering
Posted: Thu Apr 07, 2011 12:39 pm
by Mr. BachNut
In spite of big volumes, SPY and VIX are basically within trading range of last several days. I suspect computer algo trading to run sell stops was in play. That leaves all the sell stops up above. I am out of short position from two days ago.