07/01/2011 Intraday Watering

[Cobra]

no L1 but let's see the current bar...

[Nomorework]

I see simillar pattern with 2007 Top

Those look eerily similar... This week trapped me with my pants down? Time to double down? I'm not sure I have the balls

[feibingjia]

Cobra,

VIX hitting lower BB, -ve money flow reading didn't work.

I think, the best way to make money is buy when others panic and sentiment reading are too bearish.

the best way to make money is try not to be smart: always follow. For example now the market is up, so long only, don't even bother to find a top, that's the secret of trading. You see my short-term model? nothing unique with that model, it simply follows, but it makes steady money.

my report is different, as I've been saying, it has to find top or bottom, otherwise the only thing I can say everyday is like this: trend is up/down.

Ban Zhang, I remember you said before, the stop loss of your short term model is usually the previous low...am I right? Thanks!!

not previous low, better the previous swing low, if possible, the 2nd swing low as the 1st swing low is always the stop run target.

now i'm thinking of using ATR as stop loss because it's more objective. the swing low as stop loss is too subjective!

Got you, thanks, ban zhang!
So we need to keep tracking the daily prices of SDS and SSO, and then calculate the ATR by ourselves? Or, is there any place from where we can get the info (hopefully, I’m not the only lazy-bones...hehehe...)?

[feibingjia]

Cobra,

VIX hitting lower BB, -ve money flow reading didn't work.

I think, the best way to make money is buy when others panic and sentiment reading are too bearish.

the best way to make money is try not to be smart: always follow. For example now the market is up, so long only, don't even bother to find a top, that's the secret of trading. You see my short-term model? nothing unique with that model, it simply follows, but it makes steady money.

my report is different, as I've been saying, it has to find top or bottom, otherwise the only thing I can say everyday is like this: trend is up/down.

Ban Zhang, I remember you said before, the stop loss of your short term model is usually the previous low...am I right? Thanks!!

not previous low, better the previous swing low, if possible, the 2nd swing low as the 1st swing low is always the stop run target.

now i'm thinking of using ATR as stop loss because it's more objective. the swing low as stop loss is too subjective!

[jamesmith]

greetings from hampton. beer cold, girls hot. life is good here. :D
my measured target is about spx 1335 / es 1330. also noted major res at 1333-1345. i don't expect it to be taken today. just my opinion. no trading for me.
kena, take care of my cat while i am on vacation.

:o :shock: me so jealous~~

[STC]

Cobra, VIX body is out of BB bottom today, does it mean good pull back coming next week or two? Also does huge weekly bar mean buying exhaustion?

[alphahorn]

Just checking in on my bear friends, trend is still our friend. In my opinion, this is not going to be the sort of wave that allows the hopeful to jump on board until it inflicts a great deal of pain. Indicators still decidedly long/buy. It looks like wave 3 off the bottom is extending, 1345 should contain it momentarily, but this puppy will be breaking 1400 very soon me thinks.

[Cobra]

Got you, thanks, ban zhang!
So we need to keep tracking the daily prices of SDS and SSO, and then calculate the ATR by ourselves? Or, is there any place from where we can get the info (hopefully, I’m not the only lazy-bones...hehehe...)?

you can put ATR indicator on your daily chart then you shall have the ATR value.

I'd prefer to use %. Say, the current SSO 2*ATR(10) is 5% while SDS 2*ATR(10) is 6%. So whatever your entry price, times 95% is your stop loss price.

[HK88]

by the way if you're trapped bears, no need to cut now, I don't think such a movement can be sustained the next week. I might be able to use overbought as title which almost guarantee a pullback.

The last time SPX was this much away from its 13 day EMA was July 2009, this is really an incredible move, which usually does not happen in the later stages of a bull market

[proteus46]

Honey, is that Going Down?

http://www.youtube.com/watch?v=_2s7WMVMDjU

Crank up the volume.

The Market is smokin like those guitars were smokin, thanks,
I'll forward to my son,, he plays electric and acoustic

[ForexChemist]

I see simillar pattern with 2007 Top

please check the different MA's. Now we are bouncing back from MA200. We were deep below MA200 back in 2007. I wish it retreats from here so I can load up more.

[Cobra]

Cobra, VIX body is out of BB bottom today, does it mean good pull back coming next week or two? Also does huge weekly bar mean buying exhaustion?

VIX close below BB bottom is just part of the setup, you have to wait until it rises into bb bottom. but the odds are not very high for trading VIX bb signal.

[ctu688]

I am sure the title of Cobra's report will read sth.. like "Short term overbought"...

Title: Retire earlier is never a dream!

Hey Cobra, I am forced trier early by the beach (CA) and poorly. Not a dream for sure. Now I had to fight hart in this market. With you help, I feel a less painful for sure. Thank you very much taking us along into your retirement dream. .

[HK88]

Cobra, VIX body is out of BB bottom today, does it mean good pull back coming next week or two? Also does huge weekly bar mean buying exhaustion?

Which source are you looking at? It appears that it will close out of BB but not the whole body is out of BB.

[Cobra]

I am sure the title of Cobra's report will read sth.. like "Short term overbought"...

Title: Retire earlier is never a dream!

Hey Cobra, I am forced trier early by the beach (CA) and poorly. Not a dream for sure. Now I had to fight hart in this market. With you help, I feel a less painful for sure. Thank you very much taking us along into your retirement dream. .

[Cobra]

i admit, this last bar sure looks a lot like an exhaustion bar.

[feibingjia]

hmm, who said the target is for fun?

Cobra, you are the man!

[KENA]

greetings from hampton. beer cold, girls hot. life is good here.
my measured target is about spx 1335 / es 1330. also noted major res at 1333-1345. i don't expect it to be taken today. just my opinion. no trading for me.
kena, take care of my cat while i am on vacation.

Ya I will ..Will make good company for my Big female cat.

[EvilTrader]

Bad tick on SPY.

You see, if something unexpected in greece/europe happens over the weekend, a crash is a real possibility.

[99er]

RUT
Update.
http://99ercharts.blogspot.com/2011/07/rut.html