08/31/2011 Intraday Watering

[Petsamo]

Bad tick on SPY pointing up.

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

Those errors seem to come in at convenient times. Nevertheless, it's screwin up my 1 min chart!

[Ninja Trader]

thats fair mongoose

I hope you make a killing!

good luck to you

[jarbo456]

There's a bearish Fib Fan out there

PinkFibFan.png

looking more and more like i'm wrong and it is as you suggest...bear trap. -_-

[Grizzly]

Speaking of killing, anybody get the Mongoose-Cobra connection ?? LOL

[soku]

i think i see 1 of cobra's most favorite pattern, head and shoulders?

[q2model]

Speaking of killing, anybody get the Mongoose-Cobra connection ?? LOL

http://www.youtube.com/watch?v=vdg9gkmWsEA

[jarbo456]

There's a bearish Fib Fan out there

PinkFibFan.png

looking more and more like i'm wrong and it is as you suggest...bear trap. -_-

who changes there minds here??? LOL

back into my larger short position.

hahaha

[billow]

First post here.
This is the best stock forum I visit so far.
Peace, and lots of useful info.

Did a quick short and cover just now, got a nice 2.5% return
Will just watch today, no more trade for me today.

It's a red day to me. or small green.
Don't think that we will have another 100+ green day.
Anyway, the market is too weird in last few days. Don't understand.
So I just cover after it reach my target. I knew I covered too early.
But don't want to watch anymore.

[Tabby]

bad combination: falling Euro and rising Yen.

I read about Yen intervention last year Sept 2010. If it is temporary , then it is OK.
http://www.cnbc.com/id/44338640

[auger]

Those errors seem to come in at convenient times. Nevertheless, it's screwin up my 1 min chart!

It's a little suspect, but a neat trick

[soku]

roubini on cnbc. he said stimulus (qe3 or in lien) is needed.
however, this guy sucks too. he called for recession, but he bot a 2.4m condo in nyc with a 5 yr arm.

[soku]

i think i see 1 of cobra's most favorite pattern, head and shoulders?

1218.5 is my 1st target of h&s. since this is multi-shoulder pattern, it could be stage 2

add: i guess it becomes me and myself again. i think stage 2 is coming. my target is 1213.5 as discussed above 11:33

[uempel]

There's a bearish Fib Fan out there

The attachment PinkFibFan.png is no longer available

looking more and more like i'm wrong and it is as you suggest...bear trap. -_-

You mean a bull-trap. But I don't think so. Let's just wait and see what happens.

[trust_yr_instinct]

did anyone else see the phantom bar at 10;50 a.m. 5min spy on TD Ameritrade trading site ? its all the way up to127.07...maybe its just there internal error but these things show up a bit to often and seem to work out mysteriously too often ??? makes you wana go .. hmmmmmmmmmmmmm ?

[Cobra]

pay attention to Euro.

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

FXE

[EvilTrader]

TICK is not confirming this up move at all.

[soku]

i think i see 1 of cobra's most favorite pattern, head and shoulders?

1218.5 is my 1st target of h&s. since this is multi-shoulder pattern, it could be stage 2

add: i guess it becomes me and myself again. i think stage 2 is coming. my target is 1213.5 as discussed above 11:33

i missed 1 thing. 1218 was yesterday high. i underestimate the stubbornness of bulls. let's see.
i will be out for a lunch meeting. hold the fort guys.

add: fancy chart

[Mr. BachNut]

Those errors seem to come in at convenient times. Nevertheless, it's screwin up my 1 min chart!

It's a little suspect, but a neat trick

SPYFIBbacktest.png

Wow. That would be a neat trick. Perhaps I will have to change my mind.

I can definitely envision an evil plan that could take the SPY to 127. There is certainly plenty of squeezable short and put interest and hedge unwinding (gulp) to provide fuel. However, my plan would include a pull-back or consolidation for a day or two to work off some of the over-bought condition (NYMO) and to stimulate stop setting around the latest high. Usually, phantom bar trades that work seem to play out within one or two trading days. Another 3.5% move from here by the end of the week would blow my mind (which is different than changing your mind), but I admit I have been seeing a lot of technically rare/unusual trading lately.

[ClarkW]

FIRST POST:
60 min. chart of IWM showed inverse hammer last hour with follow thru this hour. Not able to overcome R2
http://stockcharts.com/h-sc/ui?s=IWM&p= ... 2989487743

[uempel]

There's a bearish Fib Fan out there

The attachment PinkFibFan.png is no longer available

looking more and more like i'm wrong and it is as you suggest...bear trap. -_-

who changes there minds here??? LOL

back into my larger short position.

hahaha

Every move we take has to have an exit strategy (that's valid across-the-board...). Trading is never about being right or wrong, it's about making $. I was wondering why SPX failed the run up to 1240 - and found the pink Fib Fan. Don't believe it's that important. What's important? That SPX is still above support at 1212/15 and has to stay up there into the close. But I'd prefer a close above 1230...