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Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 3:01 pm
by Cobra
The 3rd touch of the morning low, odds now favors a breakdown. I'm still not sure though, look like a typical consolidation day for me, so even does breakdown, may not go far.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 3:04 pm
by tradersu
Upper brown trend-line is still intact. Copper has dropped a bit. SPX should be next...
Absolutely no reason to get bullish here.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 3:04 pm
by KENA
Cobra wrote:AK84 wrote:
Why do oyu say Double top is unlikely so far ? Just for my educational purposes. Coz I was looking to short around 240
No evidence so I said "unlikely SO FAR". Personally, I won't short this one because trend is up, it's hard to time the top.
Yes I shorted a week ago and wish I had not.The next day it gaped up.I got burned but I will short again because when it moves it does so fast. It may not be time to short at this time.
Re: Meaning of "last third day close? Please
Posted: Mon Mar 28, 2011 3:05 pm
by Cobra
countryboy wrote:Cobra, I was intrigued by your chart showing the 16 out of 19 months "short at the last 3rd day close"...? Is the last 3rd day three days before the 1st of every month... or three days before the last day of the month ... or something else?
Sorry for my brain fog.
That's tomorrow at close.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 3:14 pm
by BullBear52x
VIX number to watch 21.77, trades above this number could bring back fear into town, not Bulls friendly. just something to look for. what's interesting as far as internals indication, vix only trade one tick below 200ma the whole day that said alot about end of month windows dressing. BUY the DIPs is still on so far.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 3:22 pm
by BullBear52x
Standard down trend channel doing its job as resistance, I think today that's all she wrote. GL.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 3:23 pm
by 99er
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 3:30 pm
by Cobra
very boring day. I think a little breakdown is more likely.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 3:32 pm
by AK84
Cobra wrote:very boring day. I think a little breakdown is more likely.
Cobra,
What are your thoughts for tomorrow and the rest of the week? I would love to know before the closing bell so we can position accordingly.
Thanksssss as always!
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 3:39 pm
by Me XMan
We've just got one done and 2 in the hopper.
Soon another one with Iran?
No wonder Iran is getting nuke to even up the playing field.
Cobra wrote:Me XMan wrote:You know we can do arm-twisting and make oil countries buy our debts.
Where's the money to fight the war? You think US is capable of fighting 4 or 5 or 6 or 7 wars at the same time?
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 3:41 pm
by Cobra
AK84 wrote:Cobra wrote:very boring day. I think a little breakdown is more likely.
Cobra,
What are your thoughts for tomorrow and the rest of the week? I would love to know before the closing bell so we can position accordingly.
Thanksssss as always!
I still believe we'll see a pullback of some kind this week, but I don't recommend shorting yet because for so long that any bearish bias simply doesn't work.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 3:42 pm
by Cobra
Breakdown finally. Support is the Friday's pullback low.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 3:51 pm
by Cobra
here, we could have a small Double Top here. Target as shown in blue box. For now, I don't see anything serious on the downside yet.
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 3:51 pm
by Simsonic
it gapped down slightly...
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 3:53 pm
by andyzaky
Potential breaking down coming to forming rising wedge on the SPY. See the 30-min. below:
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 3:58 pm
by Cobra
Well, I guess that's it for today, we might see more weakness tomorrow morning but so far nothing serious and there're chances that today's high will be tested later. Thank you guys, I'll see you tomorrow, hopefully an interesting day...
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 4:10 pm
by huiwangren
Thanks,COBAR,see you tomorrow!baibai
Re: 03/28/2011 Intraday Watering
Posted: Mon Mar 28, 2011 4:26 pm
by Me XMan
Got my lunch money
Cobra wrote:Well, I guess that's it for today, we might see more weakness tomorrow morning but so far nothing serious and there're chances that today's high will be tested later. Thank you guys, I'll see you tomorrow, hopefully an interesting day...
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Posted: Mon Mar 28, 2011 8:35 pm
by Enquigo
VIX number to watch 21.77, trades above this number could bring back fear into town, not Bulls friendly. just something to look for. what's interesting as far as internals indication, vix only trade one tick below 200ma the whole day that said alot about end of month windows dressing. BUY the DIPs is still on so far.