04/29/2011 Intraday Watering

[99er]

Out of Bounds: "For a moment, I thought you were discussing the wedding."

Good one. They do make a handsome couple and we should wish them the best of luck. Is the UK having a two-day holiday because of the wedding? If so, that would really be batty.

[Cobra]

Hi Cobra,

What is the seasonality for MOnday ? Also first day of the month ? Bullish even though we normally see bearish mondays now ?

very very bullish.

[JTrader]

Phantom bar TNA target hit. Let's see some selling.

edit: Or not.

[Cobra]

Something is seriously wrong with a market that now goes up with a stronger dollar.

dollar strong? No, but there's a chance that we'll see a rebound somewhere near here.

[99er]

Silver
"If it lasts longer than four hours..."
http://99ercharts.blogspot.com/2011/04/silver_29.html

[99er]

SPX
Definitely more than four hours!
http://99ercharts.blogspot.com/2011/04/spx_9519.html
Call your doctor.

[AK84]

Hi Cobra,

What is the seasonality for MOnday ? Also first day of the month ? Bullish even though we normally see bearish mondays now ?

very very bullish.

So Cobra is going to hold long position over the weekend ?

[Cobra]

Hi Cobra,

What is the seasonality for MOnday ? Also first day of the month ? Bullish even though we normally see bearish mondays now ?

very very bullish.

So Cobra is going to hold long position over the weekend ?

yes, always hold until the very first failed trade.

[joefromneptune]

but i thought you mentioned an indicator that has been very accurate, which is calling for a short term top?

[AK84]

Hi Cobra,

What is the seasonality for MOnday ? Also first day of the month ? Bullish even though we normally see bearish mondays now ?

very very bullish.

yes, always hold until the very first failed trade.

Can u define failed trade please? what is the typical stop loss that CI has requested u to tighten to

[Cobra]

Can u define failed trade please? what is the typical stop loss that CI has requested u to tighten to

say, right now, it's clear long, so you keep buying dips or buying breakout and moving your stop loss higher until one day the long position gets stopped out. This is just your very first warning. It don't mean the trend has changed.

[Cobra]

wedge resistance.

[99er]

RUT
Update.
http://99ercharts.blogspot.com/2011/04/rut_29.html

[PLUNGE]

Bond traders, "the smartest guys in the room", are buying Ten Year Treasuries. So, they may see equities as over bought here.

http://stockcharts.com/c-sc/sc?s=$TNX&p ... 859&r=3964

Also, The Smart Money commercials are shifting to the bearish side in $SPX futures.

http://cotstimer.blogspot.com/

So although Monday may be up, the Sell in May rule might work again.

[lilitulip]

Bond traders, "the smartest guys in the room", are buying Ten Year Treasuries. So, they may see equities as over bought here.

http://stockcharts.com/c-sc/sc?s=$TNX&p ... 859&r=3964

Also, The Smart Money commercials are shifting to the bearish side in $SPX futures.

http://cotstimer.blogspot.com/

So although Monday may be up, the Sell in May rule might work again.

why i always can't see your chart by clicking the link? thanks

[KENA]

As of now we are up 100% from 2009 lows. Are we really going higher.

[Olly Varadi]

Out of Bounds: "For a moment, I thought you were discussing the wedding."

Good one. They do make a handsome couple and we should wish them the best of luck. Is the UK having a two-day holiday because of the wedding? If so, that would really be batty.

Today (Friday) is a public holiday. Monday is the annual May Day public holiday. So effectively, we've had the last two Friday's and Monday's off.

[99er]

Olly Varadi:

Thanks for the explanation. I've been watching all the wedding videos on bbc.com; jeez, some folks can really do it up!

[99er]

SPX
Well...that should do it.
http://99ercharts.blogspot.com/2011/04/spx_533.html
I have to watch the wedding videos with the wife.
To the Duke and Duchess of Cambridge (and everyone else), have a great weekend!

[Cobra]

we might see another push up here.