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04/13/2011 Intraday Watering

StrikePrice
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Re: 04/13/2011 Intraday Watering

Post by StrikePrice »

AK84 wrote:GS Wekly timeframe Cup and Handle pattern?????
Shouldn't volume be increasing coming up from the cup's bottom?
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BullBear52x
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Re: 04/13/2011 Intraday Watering

Post by BullBear52x »

Bearish consolidation pattern.
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AK84
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Re: 04/13/2011 Intraday Watering

Post by AK84 »

StrikePrice wrote:
AK84 wrote:GS Wekly timeframe Cup and Handle pattern?????
Shouldn't volume be increasing coming up from the cup's bottom?
Volume is more a requirement on the handle (declining sell or increasing buy vol) but if you pull the GS weekly chart, you will see the volume is not bad on the rise of the right side of the cup.... pattern looks good imo.

Cobraaaaa, any thoughts?
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Cobra
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Re: 04/13/2011 Intraday Watering

Post by Cobra »

so far so good, a little consolidation above the breakout point is good. could be a breakout pullback long here. pay attention to fib resistance above.
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cletus
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Re: 04/13/2011 Intraday Watering

Post by cletus »

Tomorrow is probably going to be a trend day. Thursdays are always the big moves in this market, for whatever reason. If you want my guess, I think it will be a trend day to the upside. The VIX just simply isn't budging right now. The VIX usually leads the market, so this little dip is probably not as bad as it seems, even though a downtrend is nearly confirmed. We'll just have to wait. I have some puts for the long run but I'm heavily in cash right now.

We have the April 15th turn date. This provides a great opportunity to be in cash. Just wait to see whether the market sells off or rallies into Friday, then take the opposite trade at the close on Friday.
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soku
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Re: 04/13/2011 Intraday Watering

Post by soku »

lol my 1312 target reached. raise to 1315.5
when is gs er?
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kamukak
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Oil looks good to short here on hourly chart!!!

Post by kamukak »

I am short oil, with very tight stop loss
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Cobra
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Re: 04/13/2011 Intraday Watering

Post by Cobra »

cletus wrote:Tomorrow is probably going to be a trend day. Thursdays are always the big moves in this market, for whatever reason. If you want my guess, I think it will be a trend day to the upside. The VIX just simply isn't budging right now. The VIX usually leads the market, so this little dip is probably not as bad as it seems, even though a downtrend is nearly confirmed. We'll just have to wait. I have some puts for the long run but I'm heavily in cash right now.

We have the April 15th turn date. This provides a great opportunity to be in cash. Just wait to see whether the market sells off or rallies into Friday, then take the opposite trade at the close on Friday.
with vix:vxv this low, I don't believe the market could skyrocket high from here.
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AK84
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Re: 04/13/2011 Intraday Watering

Post by AK84 »

yoku wrote:lol my 1312 target reached. raise to 1315.5
when is gs er?

4/19 at 9.30 am
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soku
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Re: 04/13/2011 Intraday Watering

Post by soku »

AK84 wrote:
yoku wrote:lol my 1312 target reached. raise to 1315.5
when is gs er?

4/19 at 9.30 am
thanks. i looked at the chart and i don't like it. it seems a flag to me on daily. the support at 158-159 has to hold or i will think of short it into er.
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jamesmith
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Re: 04/13/2011 Intraday Watering

Post by jamesmith »

Cobra wrote:
jamesmith wrote:
Cobra wrote:yes, double bottom breakout, target as illustrated below. may the force be with bulls. :roll:
bulls add oil!!!
9.gif
justice shall be done~~ feel nature's wrath~~ long live cobra~~~ :-P
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Cobra
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Re: 04/13/2011 Intraday Watering

Post by Cobra »

target reached plus resistance plus volume surge, this could be an exhaustion bar so should be a pullback of some kind here.
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99er
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Re: 04/13/2011 Intraday Watering

Post by 99er »

biotrader
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Re: 04/13/2011 Intraday Watering

Post by biotrader »

Cobra wrote:target reached plus resistance plus volume surge, this could be an exhaustion bar so should be a pullback of some kind here.

Nice call!!
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Mr. BachNut
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Re: 04/13/2011 Intraday Watering

Post by Mr. BachNut »

cletus wrote:Tomorrow is probably going to be a trend day. Thursdays are always the big moves in this market, for whatever reason. If you want my guess, I think it will be a trend day to the upside. The VIX just simply isn't budging right now. The VIX usually leads the market, so this little dip is probably not as bad as it seems, even though a downtrend is nearly confirmed. We'll just have to wait. I have some puts for the long run but I'm heavily in cash right now.

We have the April 15th turn date. This provides a great opportunity to be in cash. Just wait to see whether the market sells off or rallies into Friday, then take the opposite trade at the close on Friday.

Thursdays before Op Exp. in particular are often but not always big movers. We'll have to check open interest at the end of the day, but my screen is showing a big slug of SPY puts at 130 strike. So there could be an attempt to get there depending on who holds. On the other hand, it looks like 133+ is where the most puts and calls expire worthless, often an attractor.
AK84
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Re: 04/13/2011 Intraday Watering

Post by AK84 »

Cobra wrote:target reached plus resistance plus volume surge, this could be an exhaustion bar so should be a pullback of some kind here.

So where do we go from here sir?
cletus
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Re: 04/13/2011 Intraday Watering

Post by cletus »

Mr. BachNut wrote:
cletus wrote:Tomorrow is probably going to be a trend day. Thursdays are always the big moves in this market, for whatever reason. If you want my guess, I think it will be a trend day to the upside. The VIX just simply isn't budging right now. The VIX usually leads the market, so this little dip is probably not as bad as it seems, even though a downtrend is nearly confirmed. We'll just have to wait. I have some puts for the long run but I'm heavily in cash right now.

We have the April 15th turn date. This provides a great opportunity to be in cash. Just wait to see whether the market sells off or rallies into Friday, then take the opposite trade at the close on Friday.

Thursdays before Op Exp. in particular are often but not always big movers. We'll have to check open interest at the end of the day, but my screen is showing a big slug of SPY puts at 130 strike. So there could be an attempt to get there depending on who holds. On the other hand, it looks like 133+ is where the most puts and calls expire worthless, often an attractor.
I agree with 133. That's my expectation, but I won't hesitate to jump back on board with the bears if we get a weak start tomorrow.
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Cobra
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Re: 04/13/2011 Intraday Watering

Post by Cobra »

failed pullback but with even bigger volume surge, i think there're good chances to see a pullback of some kind here.
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BullBear52x
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Re: 04/13/2011 Intraday Watering

Post by BullBear52x »

.[/quote]

I agree with 133. That's my expectation, but I won't hesitate to jump back on board with the bears if we get a weak start tomorrow.[/quote]


Max pain said 132 spy
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Cobra
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Re: 04/13/2011 Intraday Watering

Post by Cobra »

AK84 wrote:
Cobra wrote:target reached plus resistance plus volume surge, this could be an exhaustion bar so should be a pullback of some kind here.

So where do we go from here sir?

apparently we retailers think this is once in a life time to retire earlier! :lol:
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