08/31/2011 Intraday Watering

[auger]

My bad. First time I am hearing of '377'...

377 is a Fibonacci number.

[soku]

we back to where started. i guess there will be more fighting here. i am still bearish biased.

[Petsamo]

UNG spiking up.

[silkway]

Cobra, so, if you dont mind, I want to ask questions, and hopefully they will be answered. There are going to be points I will not understand.
On the other hand, there is a lot I know too which I am more than happy to share with others here in the forum.

did anyone just see that fat finger on SPY?

i'm seeing a spike to 127.07

I got it.

[zudec]

I saw big jump on SPY too - but can hardly believe

[Grizzly]

We never hit the 119 spike from yesterday...

[Mongoose]

mongoose

I get your point about run before the market but there are all kinds of methods that work so I only agree with you to an extent

running with the market (ie, momentum systems, which there are plenty of) can in fact allow you to extract money from the market while you simply run along with it, there are plenty of trend followers rather than those simply catching a turn.

I think it's fair to say people should use whatever works, there is no 1 method so you pick what fits your personality, however, all methods are going to require adjustments (a change of mind) at one point or another

so many various signals that worked really well for decades into the 2000's became total failures. Why? Maybe too many people started to follow them, perhaps the market evolved, perhaps because of the interconnectedness of markets.... nobody knows for sure.

but I'm still with Cobra in that a trader is going to need to change their mind from time to time. I'd love to believe I'd get so good that I'd never have to but I don't think this is a realistic expectation in markets, as they have this tendency to make the seemingly impossible, possible, all the time.

I appreciate that there are different methods. What may work for me, not work for someone else. For me, what experience has taught me, is that it is more profitable to be flexible in my approach, as opposed to changing my mind. I work on my approach and work towards being flexible with that.

[Cobra]

no comments, my feeling was right, but I need see more bars...

[Mr. BachNut]

Bad tick on SPY pointing up.

Seems too big to be a phantom bar. I would guess error of some kind.

[Cobra]

bad combination: falling Euro and rising Yen.

[wuzzy]

I myself feel a lot "comfortable" trading against myself.

This is the key point. Too many times have I wanted to be 'right' and lost more rather than just change my mind and get out.

[Anaconda]

Crazy phantom...

[soku]

I've got to repeat this again and again: break of 1212/15 was immensly important (DMA 377/WMA75). If SPX can stay above that level today (and prove that this is not merely an intraday bounce/bull-trap) this market is heading higher. Possible top for the day is 1240, possible top for the week is 1255. Short only if market tanks down under 1210...

i am demarkian. shadows don't count.
my equ target of es is 1213.5. we are not too far off again

[brentos]

Here is a chart of that ghost print on SPY 5 min chart (TOS platform)

[Al_Dente]

pay attention to Euro.

Hi Cobra: What symbol can we use to "watch the euro" intraday on the stockcharts.com platform.
Thanks in advance

[brentos]

Ooops too slow on the upload

[soku]

bad combination: falling Euro and rising Yen.

per my research, eur/jpy is a better proxy to spx than eur or jpy alone. it is consistent

[Anaconda]

Bad tick on SPY pointing up.

Seems too big to be a phantom bar. I would guess error of some kind.

I put on a little upside hedge, in case.

[uempel]

There's a bearish Fib Fan out there

[jarbo456]

spy finding some support at the 1 min 200MA. but looks like there's further room on the downside on the 3 minute, and looks like a potential MA crossover imminent on the 5 minute charts.