03/20/2012 Intraday Watering

[Cobra]

Laoda, you are more conservative to make the call for down side these days.

In stock market, you don't need any skill to predict the future, just call up every time, you'd have above 60% odds.

Nowadays, if you keep calling up, you'd have 99.9999999999999999999999999999999999999999999999999% odds.

[Cobra]

OK, bulls avoided double top, but my plan still is good. we'll see.

[Cobra]

failed here would be double top, bulls need a breakout.

Cobra, have a look at the longer term charts, strong support around 1400/05, very strong.

Got you thanks.

[PRI]

http://www.huffingtonpost.com/2012/03/1 ... 62659.html

[TraderGirl]

1425ish could be a potential triangle target...waiting for 22nd to have another possible bounce...then we could correct after that...
from slope:
http://slopeofhope.com/2012/03/sp-appro ... arget.html

TraderGirl, on the long term daily I've got resistance up at 1430ish, posted this chart on Cobra's blog 2 hours ago...

999.png

Nice Chart uempel!

[Cobra]

fulfilled my first call, maintain the 2nd call.

[Cobra]

fib info.

[Valance]

I don't know why those graphs are pointing down...we all know which direction they will be heading by 1500

[shumushu]

wedge on the /es, let see if this is a dip buying opportunity or if it breaks down

[uempel]

failed here would be double top, bulls need a breakout.

[TraderGirl]

From Kimble charting http://blog.kimblechartingsolutions.com ... ortfolios/

Once Gold and Silver break out of this channel, I think it could be very bullish, the question is when will this happen?? Could happen after the summer correction, maybe around Sept/Oct would be a good time to buy?? into 1st quarter of 2013....

[uempel]

Update:

[L_T]

I follow it because I want to pick it up at a good price for my long term account. I assume you know their business.

Price is breaking down again today (not as bad as 10 sessions ago but definitely not bullish) so it may be premature to go long here. Just my 2 cents.

Anyone familiar with JOY?
I'd like to start nibbling.

[shumushu]

From Kimble charting http://blog.kimblechartingsolutions.com ... ortfolios/

Once Gold and Silver break out of this channel, I think it could be very bullish, the question is when will this happen?? Could happen after the summer correction, maybe around Sept/Oct would be a good time to buy?? into 1st quarter of 2013....

Put alerts at the boundaries and call it a day.

[stucap]

fib info.

Another never-ending bounce it appears.......

[uempel]

Update:

Bye guys, I'm waiting for a better trading day...

[BullBear52x]

weakest line DIA, SPY is not far from it but DIA is official sell the Rip on my count, well, DOW leads?

[usctrojan99]

Cobra or anyone else,
I don't play much with VIX or VXX, but any reason they are flat/ down, respectively, with selling off a bit? Looks like complacency is still in. Would like to get your thoughts. TIA

[Cobra]

forgot to mention, my plan is purely feeling. the reality odds are 83% chances the tinted area target would be met, so odds are more up here. I don't know if reach that 83% chances target would invalidate my plan or not though.

[Cobra]

OK, here's the adjusted plan based on all the clue I have:

1. This should be 2 legged down, I assume it's ZigZag down, so you see 100% Measured Move, I'd prefer 61.8% Measure Move of course.
2. We know 83% chances target, so I assume the rebound would reach 61.8%.