10/10/2011 Intraday Watering

Bencat · Post by **Bencat** » Mon Oct 10, 2011 10:48 am

spy is moving to 119 --is this OK for breaking up your ellipses shape?

Al_Dente · Post by **Al_Dente** » Mon Oct 10, 2011 10:49 am

bullbear52 wrote:Selling out TNA hedge, held on to TZA and the rest of the shorts for today before unloading them, hedging is strategy not hope, DT anyone shorting here will make money in an hour or so that's purely a prediction

U such good sport….This was NOT supposed to happen this morn. Once again, the King-u-kno-who nailed it last night
“… It looks to me that everyone are bearish for the next week, so the market might surprise us, I'm afraid”

“The highest forms of understanding we can achieve are laughter and human compassion.” [Richard Feynman, Nobel laureate, Physics]

Dow Trader · Post by **Dow Trader** » Mon Oct 10, 2011 10:53 am

heavenskrow wrote:first of all, great new site!!! I like!
second, where are all the bears that got destroyed like i said they will be???

I am one of them, I am still short and I am adding each 2% advance in Dow ... In the same time, I am scalping ES for day trades in the long side, and I am feeling good because I have a plan

It is basic trading rules ( I trade with the weekly and daily trend in regard the holding overnight until they revers with good risk reword ratio and monye management ) but for the day trading, it is not same story at all ( by the way, I am bear and longed ES today @ 1176 AND JUST CLOSED 50% @1183 with 50% breakeven left ).
My point is being a bear after July,2011 is not a bad idea

and any trade must have a detailed plan for entry and exit.
like the one old trader told me in 1999 " the art of trades is not the entry, it is the exit "

bullbear52 · Post by **bullbear52** » Mon Oct 10, 2011 10:55 am

Al_Dente wrote:
bullbear52 wrote:Selling out TNA hedge, held on to TZA and the rest of the shorts for today before unloading them, hedging is strategy not hope, DT anyone shorting here will make money in an hour or so that's purely a prediction
U such good sport….This was NOT supposed to happen this morn. Once again, the King-u-kno-who nailed it last night
“… It looks to me that everyone are bearish for the next week, so the market might surprise us, I'm afraid”

“The highest forms of understanding we can achieve are laughter and human compassion.” [Richard Feynman, Nobel laureate, Physics]

Oh, yeah. I know, everyone were shorting into the weekend, Cobra knows MM smell the blood, well, short term trend is up buy the dip is on, counter trading is risky, anyone that chose to take the move should know what he is doing, this is a game of probability.

cougar · Post by **cougar** » Mon Oct 10, 2011 10:55 am

We easily reached the target zone discussed during the weekend on this same chart, now updated.
Foe the moment, it looks like consolidation here…

Post by **Cobra** » Mon Oct 10, 2011 10:56 am

target reached. I see volume surge so hopefully our very first pullback here. such a pullback usually is buy.

uempel · Post by **uempel** » Mon Oct 10, 2011 10:57 am

At the moment it looks as though DMA 55 is going to hold. Here a long term chart, check the dotted blue channel, shows the importance of 1188 too.

cougar · Post by **cougar** » Mon Oct 10, 2011 10:58 am

cougar wrote:SPY ~119 is definitely in sight.
So...that's the zone I shall watch...

Soi far, HOD = 119.11

Dow Trader · Post by **Dow Trader** » Mon Oct 10, 2011 10:59 am

remeber this level any 83 number ( 883, 1083, 1183, .. etc) in ES almost always been used as a short term rest area

STC · Post by **STC** » Mon Oct 10, 2011 10:59 am

Cobra, based on the market action, do you think it's going route A or B from your daily market report? Where do you see the target for these routes on SPY?

EvilTrader · Post by **EvilTrader** » Mon Oct 10, 2011 11:01 am

Selling some longs to buy again after a pullback.

Post by **Cobra** » Mon Oct 10, 2011 11:02 am

STC wrote:Cobra, based on the market action, do you think it's going route A or B from your daily market report? Where do you see the target for these routes on SPY?

I still think route A is more likely. Today's action doesn't count, it's holiday volume. We need see tomorrow.

bushwaffle · Post by **bushwaffle** » Mon Oct 10, 2011 11:04 am

Just printed a second pbar to the same price....maybe my charts are glitchy???

Post by **Cobra** » Mon Oct 10, 2011 11:04 am

Unique wrote:
Cobra wrote:6 cents shy of target, but it will be reached. very strong so far, so 90% chances, close > open today. The pullback, if any, is buy, cannot be just one leg up. I mean intraday of course.
Where you pull out these percentages?

collect them everywhere. some i found by myself, some are form bloggers.

Unique · Post by **Unique** » Mon Oct 10, 2011 11:07 am

bushwaffle wrote:Just printed a second pbar to the same price....maybe my charts are glitchy???

I keep getting 115.6ish..annoying p-bar..

gabor · Post by **gabor** » Mon Oct 10, 2011 11:09 am

Cobra wrote:
STC wrote:Cobra, based on the market action, do you think it's going route A or B from your daily market report? Where do you see the target for these routes on SPY?
I still think route A is more likely. Today's action doesn't count, it's holiday volume. We need see tomorrow.

Why is it a holiday volume? The market will not be open till 4pm?

SB73 · Post by **SB73** » Mon Oct 10, 2011 11:12 am

Dow Trader wrote:
heavenskrow wrote:first of all, great new site!!! I like!
second, where are all the bears that got destroyed like i said they will be???
I am one of them, I am still short and I am adding each 2% advance in Dow ... In the same time, I am scalping ES for day trades in the long side, and I am feeling good because I have a plan
It is basic trading rules ( I trade with the weekly and daily trend in regard the holding overnight until they revers with good risk reword ratio and monye management ) but for the day trading, it is not same story at all ( by the way, I am bear and longed ES today @ 1176 AND JUST CLOSED 50% @1183 with 50% breakeven left ).
My point is being a bear after July,2011 is not a bad idea and any trade must have a detailed plan for entry and exit.
like the one old trader told me in 1999 " the art of trades is not the entry, it is the exit "

Dow trader I am in your camp on this one. This market has punished both sides. I longed a very nice trade that I closed too early, but I have been methodically adding to the shorts on the way up. I don't see a turn before tomorrow though.

bullbear52 · Post by **bullbear52** » Mon Oct 10, 2011 11:13 am

below 118 will confirmed bears still around and well.

second reversal bar (daily) per Cobra mentioned this morning bulls should take heed.

Al_Dente · Post by **Al_Dente** » Mon Oct 10, 2011 11:17 am

jarbo456 wrote:al_dente,

looks like we might hit the nosebleed you spoke of before...2800 advancers...

am just eyeballing board 2 see who else is behind this trickery
hour ago spx +2.4% now +2.7%
comp was +2.5% now +2.9%
rut was +2.6% now +3.2%
banks (bkx) were +3.1 now +4.3% omg
nobody is giving an inch here….. EXCEPT THE TICK. And the nyadv pulling back to 2700, but it DID confirm the hi
scalper signals just crossed to sell……. but that’s not data…. that’s just averages and entry/exit signals
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =244514321

Dow Trader · Post by **Dow Trader** » Mon Oct 10, 2011 11:20 am

Two important notes:

1- we have a gap in ES at 1155 level and that gap will be filled ( keep in mind that gaps in ES are NOT LIKE the cash market, they almost always be filled in the same week or max. the same month ). The gaps in ES like P: bars
2- If we closed the cash market with low volume, then all today's actions must be retraced completly.

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10/10/2011 Intraday Watering

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