07/13/2011 Intraday Watering

[Cobra]

ok, I hope it's a bull flag now. cannot believe what I see here.

Cobra,

Why don't you consider the Gap Up a push Up?

Then wouldn't we have had the 2 pushes up and now we get 3 pushes down? Thoughts?

i see this morning's gap up as the 1st push up as I see already 3 push down on SPY 60 min chart. the yesterday's selling before the close it very typical the 3rd push down bear trap hence we should go much much higher here.

[rhight]

"Trading a fundamentally driven market" is impossible. All "fundamentals" are backward looking and hence are priced in as soon as they come out. Therefore, there is only technical trading. People who trade on fundamentals are essentially looking forward to earnings or events that have not taken place yet (speculation) so in that sense they are just guessing and not really trading on true fundamentals.[/quote]

I should have more accurately that trading a fundamentally driven market USING technical analysis. I don't try to trade on fundamentals, although value investors can do well over time (I suppose that's called investment vs. trading) but I do keep an eye on the Economic Cycle Research Institute data.

[STC]

ok, I hope it's a bull flag now. cannot believe what I see here.

Cobra,

Why don't you consider the Gap Up a push Up?

Then wouldn't we have had the 2 pushes up and now we get 3 pushes down? Thoughts?

i see this morning's gap up as the 1st push up as I see already 3 push down on SPY 60 min chart. the yesterday's selling before the close it very typical the 3rd push down bear trap hence we should go much much higher here.

Cobra, do you have a target for this current pull back before it go higher?

[Cobra]

still looks like a Bull Flag, hopefully this push up will bring us to a new intraday high as I see 2 legged down already.

[BullBear52x]

If bulls can not smack the VIX down under 200ma here, bears win. simple.

[Cobra]

ok, I hope it's a bull flag now. cannot believe what I see here.

Cobra,

Why don't you consider the Gap Up a push Up?

Then wouldn't we have had the 2 pushes up and now we get 3 pushes down? Thoughts?

i see this morning's gap up as the 1st push up as I see already 3 push down on SPY 60 min chart. the yesterday's selling before the close it very typical the 3rd push down bear trap hence we should go much much higher here.

Cobra, do you have a target for this current pull back before it go higher?

No target, the pullback could be over or very close to the end.

[AK84]

AK84,
I am not a risk taker unless I know my stocks well enough. Goog might go up $50 after hours but I am not a risk taker to put my money on that. I hope you don't get upset if it goes up to the moon after hours. I just told you my personal opinion based on what saw happend. Whatever you do, wish you goodluck.

Thanks Tabby! I really appreciate it . I have until tomorrow to decide so lets see....if my put goes up in premium on vol spike ill take a slight gain and then wait and see the direction

[agnosia]

i went short crude 98.70... stop 99.21

[The Hook]

TLT rallying hard.

[cougar]

"Trading a fundamentally driven market" is impossible. All "fundamentals" are backward looking and hence are priced in as soon as they come out. Therefore, there is only technical trading. People who trade on fundamentals are essentially looking forward to earnings or events that have not taken place yet (speculation) so in that sense they are just guessing and not really trading on true fundamentals.

I should have more accurately that trading a fundamentally driven market USING technical analysis. I don't try to trade on fundamentals, although value investors can do well over time (I suppose that's called investment vs. trading) but I do keep an eye on the Economic Cycle Research Institute data.[/quote]

Some essentials of the SPX geometry are on the chart below, which is actually an udate. I like it because, on it, the 1x1 time/price line of the Large Gann Fan is “real” since it has an m=1. It is probably the same line that some other people here have noticed as a long-term support line. More recently, a smaller imbedded Gann Fan, with its origin at the 07/01/2010 low, is also useful.
Hopefully, this chart can be useful to other people too..

[Cobra]

I think this might be the last attempt to bring the index down...

[cheech]

ok, I hope it's a bull flag now. cannot believe what I see here.

Cobra,

Why don't you consider the Gap Up a push Up?

Then wouldn't we have had the 2 pushes up and now we get 3 pushes down? Thoughts?

i see this morning's gap up as the 1st push up as I see already 3 push down on SPY 60 min chart. the yesterday's selling before the close it very typical the 3rd push down bear trap hence we should go much much higher here.

LOL, much much higher, will be proven wrong I believe, for failure to see the bear flag in the forming that is obvious

[BullBear52x]

"Trading a fundamentally driven market" is impossible. All "fundamentals" are backward looking and hence are priced in as soon as they come out. Therefore, there is only technical trading. People who trade on fundamentals are essentially looking forward to earnings or events that have not taken place yet (speculation) so in that sense they are just guessing and not really trading on true fundamentals.

I should have more accurately that trading a fundamentally driven market USING technical analysis. I don't try to trade on fundamentals, although value investors can do well over time (I suppose that's called investment vs. trading) but I do keep an eye on the Economic Cycle Research Institute data.

Some essentials of the SPX geometry are on the chart below, which is actually an udate. I like it because, on it, the 1x1 time/price line of the Large Gann Fan is “real” since it has an m=1. It is probably the same line that some other people here have noticed as a long-term support line. More recently, a smaller imbedded Gann Fan, with its origin at the 07/01/2010 low, is also useful.
Hopefully, this chart can be useful to other people too..[/quote]

Wow! nice charting.

[BullBear52x]

The fast and Furious move ohhhhh yeah

[Cobra]

critical time, decisively breakdown then game over for bulls...

[MajorEasy]

i don't use andrews forks intraday, maybe i should.

[cougar]

Thanks BullBear! I also follow your charts and comments with great interest!

[agnosia]

i went short crude 98.70... stop 99.21

stop moved to break even.

[cheech]

IYR deep in the red. No buyers.

[cougar]

Physical Palladium (PALL) breakout!
===,
I am long PALL stock. It has no options.