03/04/2011 Intraday Watering

[bear33]

so if we close around these levels, you think we go lower correct? I think touching 50dma by next week is in the cards

[uempel]

uempel wrote:

I know guys who are long, and they have tons of technical arguments. What are your arguments?

This 30min chart supports the idea of 1314ish and then a move above 1345 out of the trading range...[/quote]

Well I'm looking for a first bounce at about 1311.50, but I'm not going to go long for the weekend. I don't want to get stuck with longs if oil price shoots up on Monday.

[balance]

now i think it's more 'believable' that we're going to visit the 1st leg low.
I am not a bear, I am a trader.
I think we'll go higher, and oil will get back to 80, but not now.

[wave]

will long 1300ish

[Cobra]

Don't buy. The pullback is just too strong, the first rebound shall fail.

[BullBear52x]

Looki here, my hard to get shorts. INTC. 1h chart

[zombiebraingoo]

Next stop for the es...1314.25 , a screamin buy, me thinks!

...

koolblue - great chart - what are the settings on the channel?

[koolblue]

Next stop for the es...1314.25 , a screamin buy, me thinks!

Good eyes, I don't trade ES

No, I think support is slightly lower, a bounce should come at 1311.50 (SPX). Real support comes later at 1302/1303.

... nice call, bro!...

[koolblue]

Here we go!... i hope!

[cletus]

I like the VIX around 300 in the next few years as world war III starts over oil wars

[Cobra]

Little support here. Remember, normally, any 1st time rebound shall fail.

[nelsonbelchior]

Little support here. Remember, normally, any 1st time rebound shall fail.

We should see 3 leg down right cobra? This is the second.

[zombiebraingoo]

5min and 30 min spx starting to heal - 30 min printed a reverse signal

[Cobra]

Little support here. Remember, normally, any 1st time rebound shall fail.

We should see 3 leg down right cobra? This is the second.

Yes, you can say that.

[koolblue]

Well,look, friends, anything can happen ,of course, but the 5 day avg range on the es is 23.95 handles and 1334.50-23= 1311.50 , so simply from an odds standpoint ,if we didnt just see the daily low ,it'll likely be dam close!

[KENA]

BOY!!!!my gut feeling was wrong again,glad I waited for a few more minutes.I my not trade any today. I don't want to hold over until monday.Cobra also is saying this leg up may not hold. I'm watching.

[simpletrade]

Well,look, friends, anything can happen ,of course, but the 5 day avg range on the es is 23.95 handles and 1334.50-23= 1311.50 , so simply from an odds standpoint ,if we didnt just see the daily low ,it'll likely be dam close!

Good point. FWIW, I added small call in SPY.
Most are in SINA, which for some reason is in green today

[balance]

RE: sina, simple, like I said yesterday, the pressure is on the upside.
http://www.screencast.com/users/Balance ... e55b73fed1

[koolblue]

BOY!!!!my gut feeling was wrong again,glad I waited for a few more minutes.I my not trade any today. I don't want to hold over until monday.Cobra also is saying this leg up may not hold. I'm watching.

...The Cobra is usually right! And may be this time as well!.. but that doesnt mean the 3rd leg down has to be today!

[simpletrade]

RE: sina, simple, like I said yesterday, the pressure is on the upside.
http://www.screencast.com/users/Balance ... e55b73fed1

Thanks, balance, I did close the SINA calls for a nice profit yesterday(scared), keep the SINA position, think it has more room to run. Today's price action in a down market is not bad. But things can change, of course.