10/13/2011 Intraday Watering

[wayne0708]

I wouldn't be greedy if I was bull. every dog has its day. Bulls should be happy with their recent up trend , cash out, and wait for your cycle again. This time is bear's turn and respect the trend. Let's bears have their share of wealth and stop fighting the trend or you get slaughtered

Use this bounce and cash out or cut your (long) loss before Fri or it will be too late by Monday.

[Al_Dente]

Russell Daily on 10-13.png

Russell 5-Min on 10-13.png

xxxx

Oh, haha, not laughing anymore because this is getting scary close to my stops. NYDECs sleeping on us. SPY, IWM back above VWAP. Moved the FAZ stop below the R1 pivot.

wave: what platform u on, for pivots?

[little piggy]

The website is so hot. I was try to update 3 mins ago. Sorry.

[SB73]

Still thinking that this agressive of a pullback will be two legged...nice to see everyone abandon their trades so quickly. Got stopped out myself on some, but getting close to reloading. 1203 to 1209 is the highest I see.

[alvian33]

ouch, nice trap bulls. time to switch sides again

are you short?

[Cobra]

First post here. Great site. Where can I find the meaning of the acronyms used here such as OR, L2, H2... etc?

Thanks and welcome aboard!

[waverider]

stopped out of FAZ and TZA, I guess we should have listened to Cobra when he switched to buy mode on Tuesday. Thanks for the analysis, trade smart and good luck all.

[agnosia]

ouch, nice trap bulls. time to switch sides again

are you short?

no i am flat. waiting for the moving averages to catch up so see if they show support. i will try a long on first touch of 10/20 ema's

[Al_Dente]

Our dow stocks that are “most squeezble” not going crazy yet DIS not much else
Our dow stocks THAT ARE NOT ON OUR MOST SQZ LIST are acting up XOM KFT…MRK…T…CVX
Keep noses open for smell of smoke
No bathroom breaks

[Dow Trader]

This pattern means the rally is over or at least the first upleg of it is over ( even if we go above yesturday's high )

Could you explain this in further detail please?

man, that will take pages of explaination if I want to explain one of my patterns, but I will explain in general because each point have more details :
first of all, if you are a trend follower, you have to have the cloud in your chart, and if you want to know (or lets say forcast ) when the trend may ends or when the correction for that trend may start, you follow these basics steps:
1- if the trend is up ( like in our example last chart ) market will show a couples of green candles ( 5 or more ) with tails above the green candle that are equal or bigger of the body of the candle.
2- A cross in Tanken with Kijun against the trend
3- a touch to the lower band of the cloud
4- A close below the cloud
5- A lower low below the cloud and that would be your confirmation.
If those 5 steps happened, then a correction will start or a new trend to the opposite will be born and rarly the marke ignore this pattern but there is always exception, this is why th stop loss is aways with you.
note : there is more detail in each step but I prefer to mention the general steps.
I attached the same chart again to be easier
I hope I answered your question

[seekingknowledge]

I wouldn't be greedy if I was bull. every dog has its day. Bulls should be happy with their recent up trend , cash out, and wait for your cycle again. This time is bear's turn and respect the trend. Let's bears have their share of wealth and stop fighting the trend or you get slaughtered

Use this bounce and cash out or cut your (long) loss before Fri or it will be too late by Monday.

I'm with you there. Sitting on the sidelines at the moment, however. TZA couldn't continue to make higher-high's and busted through its last higher-low that it made. The Big Boys are playing both the bulls and the bears. They KNOW, of course, that the bears are waiting to pounce on this overdone rally and they're just playing with us. Well, can't last forever. Markets don't go straight up.

[Cobra]

1st target reached.

[Dow Trader]

The first warning for who is trade ES in short side today is the move above 1196

Dow Trader - I respect your work, but need clarification on this statement....what is your basis.

I have my own patterns and they are many, this is one of them and I can't explain here in details but with this chart I think you might have an idea of how the market will react to a false breakout.. because if assuming we go up from here to 1196 it will confirm a false breakdown move which will lead to a sharp up move.
there is another one near 1207 ( and that will lead us to 1222 if reached )s o the short side will be more risky for day trade above 1196

Wow thanks for your time

you see, this is what I ment, the move after a false breakout is fast and powerful usually, lets see if they can continue to 1207 area or we stay here in a bigger and oring trading range
here is the same chart but with update

[firefighter]

Good morning everyone!

Cobra, it seems the pullback is over?thanks

[SB73]

The first warning for who is trade ES in short side today is the move above 1196

Dow Trader - I respect your work, but need clarification on this statement....what is your basis.

I have my own patterns and they are many, this is one of them and I can't explain here in details but with this chart I think you might have an idea of how the market will react to a false breakout.. because if assuming we go up from here to 1196 it will confirm a false breakdown move which will lead to a sharp up move.
there is another one near 1207 ( and that will lead us to 1222 if reached )s o the short side will be more risky for day trade above 1196

Wow thanks for your time

you see, this is what I ment, the move after a false breakout is fast and powerful usually, lets see if they can continue to 1207 area or we stay here in a bigger and oring trading range
here is the same chart but with update

I am actually reloading shorts here...nice stop around 1208

[tdo722]

ouch, nice trap bulls. time to switch sides again

Are you ready for the second 5 wave down which is the 2nd leg down from yesterday decline?

That would take us to 1170 or even lower. I'm not calling the shots just yet. It needs to break below several stop points on the way, 1197 then 1192 and then finally 1190 is when I would jump on board.

[BullBear52x]

Intraday nuetral, buy/sell 120.7/119.5, Bulls eyeing morning gap fill

[Dow Trader]

the first test for this tiny up move

[kamukak]

Time to short the market, Long doesn't look right anymore

[wayne0708]

Down we go!