05/06/2011 Intraday Watering

[Cobra]

i see some supports here, no wonder the market is fighting. a critical time for bulls again.

[Cobra]

Hi, SMH hitting new high, but seems RSI is weekening, what's your thoughts about shorting it? thanks

For you, as I know you, the answer is: why short new high? RSI doesn't mean you should short.

For some experienced traders, SMH bears may stand for some chances, but need figure out the right moment to strike and it's risky.

[lilitulip]

thank you

[Cobra]

just a wild guess since the pullback is way too strong so I think the very first rebound attempt should fail.

[soku]

es is struggling around 1344 vwap. i think it will find support around 1335-1337 area then pick direction.

my best guess is rejected at 1340 level then go down to 1335 to retest support. will pick direction from there.

[soku]

my reading shows this is not a valid break out. it will fail soon. i don't long here.
but overall, i am a little bit "up"-biased now. hope to get a long setup at 1335 area.

[PRI]

just a wild guess since the pullback is way too strong so I think the very first rebound attempt should fail.

Very impressive call!

[Cobra]

funny, we now all know where the target will be.

[Tabby]

This is very interesting. There is "fat finger" working on Wall street today.

[Cobra]

another critical time. a decisive breakdown would be bad otherwise it could be considered as the back test of the previous low before flying away. for now I'm not optimistic about bulls, but we shall see.

[Jennyahwu]

funny, we now all know where the target will be.

Cobra, how do u think of market? it go down the 4 days. and now rebouce is so weak? does it mean bull is over in May? thanks

[Cobra]

too bad, this is a decisive breakdown therefore confirming a bear flag and therefore the measured move target as shown in the chart below. Not necessarily hit the target though.

[99er]

COMP
Here we go...
http://99ercharts.blogspot.com/2011/05/comp_06.html
Hey...the Hamptons, anyone?

[soku]

my bots says bottom may be in. i covered my short at 1332.75. let's wait and see.
cl 97! wow

[JTrader]

Buying op, people!!

Edit: Oh, I didn't see that phantom bar until now. Set your limit buy orders down there @ 133.22. We will go higher next week.

[Cobra]

funny, we now all know where the target will be.

Cobra, how do u think of market? it go down the 4 days. and now rebouce is so weak? does it mean bull is over in May? thanks

short-term not good for bulls. intermediate-term hard to say now as long as today is green. a red day today would enough make me to call intermediate-term bear.

[soku]

bots half in. will add another half with a close bar over 1335.25

[uempel]

Cobra, you were right about the market visiting the lows again. I thought the bounce would last a few more days, but as this is flashcrash anniversery everything went real fast

[Cobra]

the rebound this time (if proven so later) would be much stronger, my guess.

[uempel]

For your information - Credit Suisse posted this chart Thursday morning: