11/11/2011 Intraday Watering

[MrMiyagi]

Sold TNA bought at close yesterday. Looking to nibble TZA short term.

[xfradnex]

Cobra, Is this the target. Moth to flame?

[Cobra]

let's remember my rule: gap up huge, new intraday high after 10:30am ET, then 90% chances close > open today. so bears don't fight.

[KENA]

All I can say today is I'm glad my hedges are saving the day.Not trading yet but will later. This is a casino not a trading mkt.Lets what happens at 1270.

[Cobra]

Cobra, Is this the target. Moth to flame?

yes, looks so.

[stingrey]

Hourly update

Possible flag/triangle in an uptrend...are you expecting a nearterm breakout to the upside?

[Cobra]

sorry, wrong target.

Cobra LD, in terms of percentage, it seems the stop loss price for the TZA position entered in your portfolio yesterday is 26.92. Do you or the model adjust this number or always keep it the same until the position is closed?

Thanks.

no adjust.

[Al_Dente]

Internals across six days…. our favorite buy cross… just buy crossed…(still neg d on 1min)
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

[Dow Trader]

Dollar daily, test of raising 10 MA

[Cobra]

OK target met. should be more, the first intraday to EMA20 (blue line below) most likely is buy, very strong day.

[simpletrader]

Hi Cobra,
Thanks as always for the great analysis. I have a question regarding the huge gap up. Earlier, you stated that it was too stretched, which I took to mean that
it was unsustainable. What made you no longer see that as relevant? Thanks

No, you didn't understand me correctly.

too stretched means just a consolidation or small pullback. that problem was fixed with 2 red 5 min bars.
later I gave the target, that's the one you should listen.
too stretched is not a sign of weakness.

it also means that people will watch the support level to buy dip.

[soku]

an interesting chart. just sharing what i see

[fehro]

invs H&S target almost met... but still in a triangle..

[pady]

I'm extremely confused right now, any elliot wavers out there that can help??? Aren't we currently in a 3-3-3-2 minor wave up? I've never been more convinced of anything, but maybe I'm wrong. I guess that is still in play as long as we don't break 1276. I'll be taking on a nasty loss just to see if that is right or not. Thanks in advance for any help!

Why do you have so much faith in Elliot wave? A broken clock would be right twice a day.

agree

Elliot wave has sex appeal, but in the end doesn't deliver results. Go take a look at a website like this one and read through all of the alternates and gyrations. I think this guy is relatively successful, but I would believe it is a product of him being more bullish biased in this environment. Perhaps in a more bearish scenario he would struggle as he is generally favoring a bullish count.
http://waveprinciple.blogspot.com/

EW helps you predict the future. Well, nobody can. Things change. So there are alternates. But I have seen so many times when they get it right ( more than 50% ). You cannot blame the theory - there are many followers/teachers like Prechter who are just so stubborn. There is the problem. When you use other theories ( trend lines, gann etc ) they "expect" something to happen but the probability is the same.

[Dow Trader]

Hourly update

Possible flag in an uptrend...are you expecting a nearterm breakout to the upside?

I don't knowm it could break either way , normally it should break up if it is correct pattern but I have problem with the power and candle setup for the decline in Oct,31 and Nov,9 .. this is one of the reason why I am flat and just day trading

[pady]

The triangle count still is alive...

[uempel]

Here a chart I posted early in the morning at Cobra's blog. Showing some kind of (presumably very short term) high at 1270/73 - like all other indicators I'm looking at

[Cobra]

Here a chart I posted early in the morning at Cobra's blog. Showing some kind of (presumably very short term) high at 1270/73 - like all other indicators I'm looking at

9.png

are you going to short?

[67Chevy]

Why is AAPL down?

supply shortages. but some guy on bloomberg says he is buying the dip.

AAPL displayed an island top pattern in mid-October on the daily chart. Shorted with puts @ 410, potential target is 365. So far, so good.

[MrMiyagi]

AAPL displayed an island top pattern in mid-October on the daily chart. Shorted with puts @ 410, potential target is 365. So far, so good.

Thanks. 382$ seems to be a resistance/support today.