03/01/2012 Intraday Watering

[Harapa]

here is a chart i see. i think he is using t-theory swalsh is following.
i don't know the author. following the copy-left rule, i just know his id is abq trader.

http://screencast.com/t/XMeLT43o

Myself, and a friend who showed me this method 2 years ago, have a number of Ts hitting in here. I find it amazing because the mkt will usually at least pause for 1-2 weeks even if they will not be validated, or turn as if looking at the sun's false image bouncing off the horizon as it is setting and suddenly it drops.

There's no shortage of cheerleaders saying, "It's Different This Time". But in reading Rogoff and Reinhardt's book of that title, I see why they were John Templeton's favorite words for knowing when to get out and wait.

He turned Bullish in Jan. He has a blogspot with name humblestudentofthemarkets where he posts regularly. Check it out.

[btran874]

SPX broke 78.6% level. 3rd wave up in full swing now folks.

[StevieWonder]

Swalsh, I've been trading since 1976 and find most Ewavers honestly admit that is it very subjective. They usually have Plan A which is the most probable, then Plan B, and finally Plan C.

[SB73]

SPX broke 78.6% level. 3rd wave up in full swing now folks.

Don't you have some sort of a TVIX conditional buy order or were you just quote stuffing.? As for me I have been sitting today out other than my .10 scalp on TVIX.

[btran874]

I'm switching to TZA. TVIX sucks.

[victorm]

many Ewavers have trouble agreeing on what has happened

Tradeyourwayout.com has been looking for a crash since January. I don't see a crash ...

Petsamo, hopefully you didn't burn yourself with those stuped UNG...

Where were you, that you didn't warn me?

I guarantee I've been lost more than you on it last year. Forget it for a while. It will go below 2$. There's so much gs they don't know where to store it. Wait until hyper inflation start or several more producers will cut output.

[TWT]

SPX: Moment of truth for the reversal set up as price should not move above yesterday´s hod

(thewavetrading.com)

[SB73]

SPX up 16 points off of overnight low with hardly a red tick...nicely done.

[Petsamo]

many Ewavers have trouble agreeing on what has happened

Tradeyourwayout.com has been looking for a crash since January. I don't see a crash ...

Petsamo, hopefully you didn't burn yourself with those stuped UNG...

Where were you, that you didn't warn me?

I guarantee I've been lost more than you on it last year. Forget it for a while. It will go below 2$. There's so much gs they don't know where to store it. Wait until hyper inflation start or several more producers will cut output.

Well, I suppose you're short?

[btran874]

Come on run SPX and fill my damn order.

[jarbo456]

SPX up 16 points off of overnight low with hardly a red tick...nicely done.

welllll...depending on how you want to calculate it, you might think that the 10:00am big red bar was an OR breakdown...but no follow through, of course. it was just a BTFD opportunity.

[fehro]

reversal point? or bust up

[SWalsh]

Given that there has been a pretty high tendency to fade movement via trendlines by algos, IMO, this might be a staging area to fall from (I know...I'm being silly):

[BullBear52x]

IWM is at Sell the RIP spot (at 82.43). TNA 30cents away to new sell spot.

[SB73]

Given that there has been a pretty high tendency to fade movement via trendlines by algos, IMO, this might be a staging area to fall from (I know...I'm being silly):

If you had said a spot to rise from I would have believed you.

[btran874]

TZA drops another 30 or 40 pennies would be a dream come true.

[BullBear52x]

reversal point? or bust up

Nice chart I am seeing same thing

[tigerwang9999]

Cobra,

If SPY stay here today, will this be a double top? or have we to see it tomorrow?

[KENA]

OK what happened to Cobras Bear/Bull engulfing..I guess wait and see.

[Cobra]

breakout as expected. now I'm neutral, need see more bars.