Back to www.cobrasmarketview.com

05/24/2011 Intraday Watering

User avatar
Cobra
Site Admin
Posts: 58333
Joined: Sat Feb 12, 2011 10:29 pm

Re: 05/24/2011 Intraday Watering

Post by Cobra »

agnosia wrote:
Cobra wrote:still no clue what the market is doing. chiosc is low again and the chart still looks like a bear flag breakdown so i'll assume more on the downside, just cannot explain chiosc will do here.
ok i am back from my nap.... cobra what is the measured move down from the bear flag? by my calculations it is 1322-((1340-1310)*.5)= 1307

is that how u calculate it as well?
measured move.
Attachments
1.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
KENA
Posts: 2996
Joined: Tue Feb 15, 2011 1:54 pm

Re: 05/24/2011 Intraday Watering

Post by KENA »

cletus wrote:Come next week I guarantee you everyone who is short or in cash will have wished they took the opportunity to get long this week on this selling.
More selling to come.
User avatar
BullBear52x
Posts: 29511
Joined: Tue Feb 22, 2011 3:47 pm

Re: 05/24/2011 Intraday Watering

Post by BullBear52x »

cletus wrote:Come next week I guarantee you everyone who is short or in cash will have wished they took the opportunity to get long this week on this selling.
That is a very strong statement.
My comments are for entertainment/educational purpose only. NOT a trade advice.
uempel
Posts: 8685
Joined: Tue Feb 15, 2011 6:38 am

Re: 05/24/2011 Intraday Watering

Post by uempel »

gabor wrote:
uempel wrote: Anaconda, as far as I know it's just a phenomenon. I presume there is a scientific rationale, but I'm not aware of it (most indicators have a logical background).
For practical use it's an addition to channels - and of course it works on all time frames. An ellipse on a weekly or monthly chart offers strong support/resistance. Here a sample which shows the importance of where SPX is right now:
SPX6.png
The problem with channels and the ellipse is that many ellipses can be drawn. Some of them support the bullish while others support the bearish view. You can never be sure. Trading is an art rather than science, I agree. A warning fact is that even the most succesfull trader (father of market speculation) ever lived in the history failed in the end of his life. See Jesse Livermoore.
Gabor, if you use channels and ellipses wisely and together with other indicators you won't have to end your life like JL! As to speculation - I guess the first speculators were sumerians and lived 5000 years ago. And the Chinese might have speculated even earlier - ask Cobra about the history of speculation in China!
Olly Varadi
Posts: 19
Joined: Tue Apr 26, 2011 9:32 am

Re: 05/24/2011 Intraday Watering

Post by Olly Varadi »

BullBear52x wrote:
cletus wrote:Come next week I guarantee you everyone who is short or in cash will have wished they took the opportunity to get long this week on this selling.
That is a very strong statement.
I'm with Cletus on that but not necessarily regarding the strength of the move.
User avatar
jamesmith
Posts: 152
Joined: Mon Feb 14, 2011 12:17 pm

Re: 05/24/2011 Intraday Watering

Post by jamesmith »

uempel wrote:
gabor wrote:
uempel wrote: Anaconda, as far as I know it's just a phenomenon. I presume there is a scientific rationale, but I'm not aware of it (most indicators have a logical background).
For practical use it's an addition to channels - and of course it works on all time frames. An ellipse on a weekly or monthly chart offers strong support/resistance. Here a sample which shows the importance of where SPX is right now:
SPX6.png
The problem with channels and the ellipse is that many ellipses can be drawn. Some of them support the bullish while others support the bearish view. You can never be sure. Trading is an art rather than science, I agree. A warning fact is that even the most succesfull trader (father of market speculation) ever lived in the history failed in the end of his life. See Jesse Livermoore.
Gabor, if you use channels and ellipses wisely and together with other indicators you won't have to end your life like JL! As to speculation - I guess the first speculators were sumerians and lived 5000 years ago. And the Chinese might have speculated even earlier - ask Cobra about the history of speculation in China!
I heard Cobra's ancestor is the first speculator in Mars :roll:
agnosia
Posts: 1491
Joined: Fri Mar 11, 2011 10:59 am

Re: 05/24/2011 Intraday Watering

Post by agnosia »

Cobra wrote:
measured move.
don't you multiply by .5 though? this according to bukowski's.

http://thepatternsite.com/flags.html
User avatar
soku
Posts: 1893
Joined: Fri Mar 25, 2011 10:02 am

Re: 05/24/2011 Intraday Watering

Post by soku »

agnosia wrote:
Cobra wrote:
measured move.
don't you multiply by .5 though? this according to bukowski's.

http://thepatternsite.com/flags.html
i always use his %.
i see 1306 strong support
The goal is not uniformity. It is understanding and idea exchange.
isothermal
Posts: 6
Joined: Thu Feb 24, 2011 11:38 am

Re: 05/24/2011 Intraday Watering

Post by isothermal »

Is anyone watching put/call ratios for SPY option? The reading is very low right now at 1.39. This may signal that we are at some kind of top here.

If you know how to do this, could someone post a plot of this ratio for the last few weeks along with spy price. Thanks!
uempel
Posts: 8685
Joined: Tue Feb 15, 2011 6:38 am

Re: 05/24/2011 Intraday Watering

Post by uempel »

Bye guys, I'm hungry (no mice and frogs) and thirsty (I guess a beer).
agnosia
Posts: 1491
Joined: Fri Mar 11, 2011 10:59 am

Re: 05/24/2011 Intraday Watering

Post by agnosia »

soku wrote:
agnosia wrote:
Cobra wrote:
measured move.
don't you multiply by .5 though? this according to bukowski's.

http://thepatternsite.com/flags.html
i always use his %.
i see 1306 strong support
gotcha, i am used to /es not spy so it looks different.... i am short from 1315... we'll see if the bears can do some good ....
andyzaky
Posts: 22
Joined: Tue Feb 22, 2011 4:32 pm

Re: 05/24/2011 Intraday Watering

Post by andyzaky »

The market is very close to a bottom. Think about this logically. We've already seen 3-push downs, the chi-osc is at full-retard extremes, the SPY is sitting at the lower trend-line, the SPY oversold on the 60-min, and the vix is on it's way down.

We're nearing a bottom at least for the near term. Whether we see more selling intermediately is another question. $134 by week's end.
User avatar
Anaconda
Posts: 487
Joined: Fri May 06, 2011 2:57 pm

Re: 05/24/2011 Intraday Watering

Post by Anaconda »

uempel wrote:Bye guys, I'm hungry (no mice and frogs) and thirsty (I guess a beer).
Bon Appetite and see you later.
cougar
Posts: 1914
Joined: Fri May 20, 2011 9:25 am

Re: 05/24/2011 Intraday Watering

Post by cougar »

AAPL might be ready to break away from a sideway pseudo-channell. Chart bellow is 1 min (3LB)
http://images.investorshub.advfn.com/im ... aplday.GIF
StrikePrice
Posts: 770
Joined: Wed Mar 30, 2011 1:27 pm

Re: 05/24/2011 Intraday Watering

Post by StrikePrice »

Last 45 mins saw a big move up in TLT to retest today's high. Must keep an eye on this...
agnosia
Posts: 1491
Joined: Fri Mar 11, 2011 10:59 am

Re: 05/24/2011 Intraday Watering

Post by agnosia »

this market should be trading down right now, take a look at the RSI on the hourly.. it is screaming DROP.. but there is a huge bidder down 1311-1312... i am covering my short. i believe the selling will happen after the market closes in the futures market...
User avatar
soku
Posts: 1893
Joined: Fri Mar 25, 2011 10:02 am

Re: 05/24/2011 Intraday Watering

Post by soku »

StrikePrice wrote:Last 45 mins saw a big move up in TLT to retest today's high. Must keep an eye on this...
isn't that due to the 2 yr auction?
The goal is not uniformity. It is understanding and idea exchange.
StrikePrice
Posts: 770
Joined: Wed Mar 30, 2011 1:27 pm

Re: 05/24/2011 Intraday Watering

Post by StrikePrice »

If the Bulls are gonna reverse this Bear Flag breakdown, it's gotta happen in the next 2 hours.
User avatar
BullBear52x
Posts: 29511
Joined: Tue Feb 22, 2011 3:47 pm

Re: 05/24/2011 Intraday Watering

Post by BullBear52x »

Back test my yellow line, will it make it? let see, I will not cover until this line in the sand is taken out.
Attachments
spy.JPG
My comments are for entertainment/educational purpose only. NOT a trade advice.
FJoe
Posts: 78
Joined: Fri Mar 11, 2011 10:40 am

Re: 05/24/2011 Intraday Watering

Post by FJoe »

Question? Don't day trade much at all. If we break above 1316 on the ES does that mean anything. Just looks to me like the market will break up and not down...conversely if we go below 1311.50 now it looks really bad. If short would you cover above 1316...and if long, cover below the low of yesterday at 1310.75 for today.

Thanks.
Post Reply