09/07/2011 Intraday Watering

[Cobra]

As someone complained about the gap statistics which I agree, although my purpose is not for you to trade the gap purely by the gap size. But anyway, any confusion should be avoided, so from now on I won't mention any gap statistics. They're useless without combining with other trading techniques anyway.

The Global ES retraced almost 50% of its losses, it's rare for such a strong rebound just one legged, so the very first pullback should fail. But on the other hand, it's also rare for the sell off we had in the last couple of day just one legged, so the current rebound also should fail, especially the rebound still looks like a Bear Flag. Confused? Yeah, I'm pretty much not sure what the market would go the next, we have to wait to see anyway.

[agnosia]

hey guys.... i got long 87.15 weekly pivot /cl this morning gunning for 88.93 gap. not sure if we'll get there today with so much overhead supply but ultimately we WILL get there.

[jarbo456]

As someone complained about the gap statistics which I agree, although my purpose is not for you to trade the gap purely by the gap size. But anyway, any confusion should be avoided, so from now on I won't mention any gap statistics. They're useless without combining with other trading techniques anyway.

The Global ES retraced almost 50% of its losses, it's rare for such a strong rebound just one legged, so the very first pullback should fail. But on the other hand, it's also rare for the sell off we had in the last couple of day just one legged, so the current rebound also should fail, especially the rebound still looks like a Bear Flag. Confused? Yeah, I'm pretty much not sure what the market would go the next, we have to wait to see anyway.

i personally still like your gap statistics. i think everyone has been fair-warned, and you should continue to do what you do, which is give the likely-hood of gap fill-age or not.

just my opinion - not a request.

[BullTart]

Going to wait and see what happens- currently out of the market today.

What I'm looking for is an entry point to be short (or long the VIX) again. IMO, this rally will eventually fail, but it has more to go, perhaps one minor pullback and then a final spurt up for a two-legged up-move.

Then, we go back down to re-test a probably make new lows for the year somewhere near S&P 1,000 to complete the first wave down in this new bear market cycle.

Need to get my cash and dry powder lined up to start scaling in accordingly.

[lqiantobe]

corba~ we will feel upset if you won't mention any gap statistics. Maybe someone will conpaint it,not all of us. we'll feel lack something and sometimes the gup up/gap down can decide the intraday trend

[cougar]

Good morning!

[lqiantobe]

As someone complained about the gap statistics which I agree, although my purpose is not for you to trade the gap purely by the gap size. But anyway, any confusion should be avoided, so from now on I won't mention any gap statistics. They're useless without combining with other trading techniques anyway.

The Global ES retraced almost 50% of its losses, it's rare for such a strong rebound just one legged, so the very first pullback should fail. But on the other hand, it's also rare for the sell off we had in the last couple of day just one legged, so the current rebound also should fail, especially the rebound still looks like a Bear Flag. Confused? Yeah, I'm pretty much not sure what the market would go the next, we have to wait to see anyway.

i personally still like your gap statistics. i think everyone has been fair-warned, and you should continue to do what you do, which is give the likely-hood of gap fill-age or not.

just my opinion - not a request.

Totally agree!!!!

[cougar]

SPXU: It took them a long time to get to 19.53 critical level (pivot) ...and only on close we got there, to stay parked in limbo over night...But now, that we clearly will drop under it, the “rally” might get some credibility…

[gabor]

I think Cobra wanted to say something about the gap like: The gap is outside the yesterday's range so the gap won't be filled. Bu this contradicts the rest of the statements, that it should go down after a while. I think this is the main reason why the gap statistic is really contraditory in this particular case. But I like the gap statistic too.

[cougar]

$RUT monthly: appears to have a support at the MAE78 (purple). But is it a buy for a longer swing?

[AK84]

Confused? Yeah, I'm pretty much not sure what the market would go the next, we have to wait to see anyway.

Thats what makes the market interesting.....the confusion!!

Good morning !

I like the gap statistics! Helps put a few things in perspective before the open!

Cobra. Thanks for everything you do !!

[agnosia]

i just added to my /es long from yesterday with break of 1180 weekly pivot.. i guess this is gonna be one of those V shaped recoveries we all love to hate. my stops are 1172 and 86.4 for /cl...

btw cobra your gap info is very informative. i hope you continue with your stats, it has helped me learn a few things

[Petsamo]

I did not notice the bad tick yesterday, but I noticed it this morning. It's present in ScottradeELITE & Marketwatch.com

[mac769]

As someone complained about the gap statistics which I agree, although my purpose is not for you to trade the gap purely by the gap size. But anyway, any confusion should be avoided, so from now on I won't mention any gap statistics. They're useless without combining with other trading techniques anyway.

The Global ES retraced almost 50% of its losses, it's rare for such a strong rebound just one legged, so the very first pullback should fail. But on the other hand, it's also rare for the sell off we had in the last couple of day just one legged, so the current rebound also should fail, especially the rebound still looks like a Bear Flag. Confused? Yeah, I'm pretty much not sure what the market would go the next, we have to wait to see anyway.

Who knows, we can easily go to 1210-1220 without negating the bear-flag in formation... which would be around 50% retracement

http://img190.imageshack.us/img190/954/capturerzr.png

Just a thought

[agnosia]

btw guys if you look at the charts we are just gaping up into gaps and closing them both up and down.. a traders dream come true mind the gap as they say in england...

[AK84]

btw guys if you look at the charts we are just gaping up into gaps and closing them both up and down.. a traders dream come true mind the gap as they say in england...

a day traders dream but an overnight traders nightmare!

[Cobra]

the open. I don't think this kind of open would hold, got to fill at least partial of the gap or consolidate for awhile. we'll see.

[putts]

As someone complained about the gap statistics which I agree, although my purpose is not for you to trade the gap purely by the gap size. But anyway, any confusion should be avoided, so from now on I won't mention any gap statistics. They're useless without combining with other trading techniques anyway.

The Global ES retraced almost 50% of its losses, it's rare for such a strong rebound just one legged, so the very first pullback should fail. But on the other hand, it's also rare for the sell off we had in the last couple of day just one legged, so the current rebound also should fail, especially the rebound still looks like a Bear Flag. Confused? Yeah, I'm pretty much not sure what the market would go the next, we have to wait to see anyway.

i personally still like your gap statistics. i think everyone has been fair-warned, and you should continue to do what you do, which is give the likely-hood of gap fill-age or not.

just my opinion - not a request.

Agree. Can't please everyone. I thought it helful though.

[Michelle]

i personally still like your gap statistics. i think everyone has been fair-warned, and you should continue to do what you do, which is give the likely-hood of gap fill-age or not. just my opinion - not a request.

I agree, and like them, too. One thing I've noticed, there are a few who expect you to call minute by minute market moves, and when you don't, they complain. Please don't let complainers keep you from doing what you do best, and that's give statistics and probabilities. No one can make 100% accurate market calls. All people visiting this board should realize that they have to make the decisions for any trades they make, and they have to take responsibility for their own trades. Cobra, you're good, but no one is 100% all the time.

I've learned so much from you.

[divideby9]

Michelle summed it up cobra. Keep up the great work, we all highly appreciate it!