08/25/2011 Intraday Watering

[Cobra]

First post here..
Cobra, Do you have an estimate on how low we are going to go? Thanks for the wonderful site.

Welcome aboard.

You mean how long the pullback will be? I don't know, but I'll be very surprised if the dip today was bought again like the past 2 days. I expect a red day today.

[q2model]

Cobra, don't let your pride mess with business. If all the people think you are awesome, all will try to follow you, and it's then when you'll suck.

So, it's better this way. We now you are the best or, at least, among the very bests. And it's better for us if this FACT is not recognized by a lot of people...

But there is something i don't accept: if they copy your calls and then piss off.

thanks, that's feel better. I should never check outside my own web sites, except those serious TA bloggers of course.

Cobra: I wish my boss had your insights, our fund would have done much better

your boss should pay me for you guys visiting my sites at least he should help promoting my sites. You belong to that WX trading group right? Forgive me, if I remember wrong.

No, I work for a small quant firm, we do things totally differently. I visit your site for my own benefits. I had to learn all TA stuff and my firm will not use TA

[BullBear52x]

Bear flag

[trader_jay]

I checked the wenxuecity, some of them kept saying that I was wrong most of the time and my statistics are useless. All in all I'm the worst ever analyst. All my hard working analysis is no match with their single word shouted in every few days. I was very offended. And I'm very confident if my analysis is this bad, then how come I have a 40,000 unique IP visitors every month? Does that mean you guys are idiot (since I'm the worst ever)?

That is selective memory.

Most people only remember the top/bottom callers, even though these top/bottom callers may have been wrong many times before.

[StrikePrice]

Europe is celebrating the deal too, oh, wait a minue, may be I should put the chart upside down?

hahah, well said. What is interesting is that it is hard to believe market would even react this way to stupid news like 5Billion buffet etc..

i forget the exact numbers, but i do remember buffet bought $5BB in GS at the end of Sept. '08. if i remember, with his priced in discounts and warrants, his share price was around $115.

obviously, two months later, GS hit a low of $47.

i can't lie, i am getting short squeezed on BAC, so i'm biased, but i can only hope that Buffet is simply telling me the worst is ahead of us.

Two great trade setups just the same as yesterday. Not sure if the Long will work as well as it did yesterday. Now time to read all your great posts.

jarbo456,
I may be remembering incorrectly, but I believe Buffet bought Goldman Bonds with a 10% yield guarantee. So I'm not sure the stock situation equates. I hope you can get out of the BAC trade on the next major pullback.

I don't think the Obama admin had anything to do with the Buffet deal. They haven't proven to be that savvy. It is likely Buffet may have said something to Obama and it got leaked into the market to truncate the Wave 5 down which in theory leads to a 100% retrace of the Wave 5, though this deep pullback today leads to me to think the only way we now get to 1208 is with a surprise in GDP and some of Ben's finely crafted words. Have to see how this Wave 4 works out and whether we get the breakdown as many are looking for. We'd then switch it over to a A-B-C with Wave 1 down having started this morning.

[PRI]

Cobra,
Many years ago a very smart man told me "If a bleeping idiot thinks you're a bleeping idiot what difference does it make". In other words, you first have to ask yourself how much do you value this guy's opinion... clearly not very much as you have stated he is not right very often. Don't give this guy a second thought just because it is said, doesn't mean it is true. You have the respect of those whose opinion you value.

[Cobra]

Cobra, don't let your pride mess with business. If all the people think you are awesome, all will try to follow you, and it's then when you'll suck.

So, it's better this way. We now you are the best or, at least, among the very bests. And it's better for us if this FACT is not recognized by a lot of people...

But there is something i don't accept: if they copy your calls and then piss off.

thanks, that's feel better. I should never check outside my own web sites, except those serious TA bloggers of course.

Cobra: I wish my boss had your insights, our fund would have done much better

your boss should pay me for you guys visiting my sites at least he should help promoting my sites. You belong to that WX trading group right? Forgive me, if I remember wrong.

No, I work for a small quant firm, we do things totally differently. I visit your site for my own benefits. I had to learn all TA stuff and my firm will not use TA

sorry for remember incorrectly. I was wondering because if you belong to the group I referred too, how dare you said that because apparently the boss of that group visits this site too.

[BullBear52x]

doesn't look like fade the tick will do it today, new LOD will erase that, the selling is for real.

[v1stock.com]

spy - sell , did not hit my 111.00 buy,closed all low buys.

gold - bull, stopped out , how to get back in? PPO 60min. +.0 buy, -.0 sell, this does not back test well but worked 2008 and works last 2 months.

AAPL sell & GOOG buy

if you find charts that do NOT look 99% alike, post the symbol.

Cobra, talk is bla, bla.
TA math is: Who is online

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a lot of friends, by TA

i have small odd fills, feels like HFT freezes and i get 12 shares @ 1% away from market . mom and pop market order? your odd ticks?

[Cobra]

DAX closed, but the chart looks incomplete, so at least today's low will be revisited tomorrow, my guess.

[quientuves]

HEy! Cobra, This is just an idea. And may be it's stupid but...

Why don't you write and sell something like a White Paper about your basics, main stats you choose, tools, describing your systems...? That could be a way to make some money if you don't want to make this or there suscription... we all know ads are not what they were...

[shumushu]

Cobra, measured move down from the morning?

[Ninja Trader]

Cobra the worst of the worst?

Uh....I think notYou (Cobra) are one of a handful of people on the web that consistently practice TA properly

I'd just totally ignore anyone saying anything critical about you, it's simply envy showing it's ugly face

[jarbo456]

Europe is celebrating the deal too, oh, wait a minue, may be I should put the chart upside down?

hahah, well said. What is interesting is that it is hard to believe market would even react this way to stupid news like 5Billion buffet etc..

i forget the exact numbers, but i do remember buffet bought $5BB in GS at the end of Sept. '08. if i remember, with his priced in discounts and warrants, his share price was around $115.

obviously, two months later, GS hit a low of $47.

i can't lie, i am getting short squeezed on BAC, so i'm biased, but i can only hope that Buffet is simply telling me the worst is ahead of us.

Two great trade setups just the same as yesterday. Not sure if the Long will work as well as it did yesterday. Now time to read all your great posts.

jarbo456,
I may be remembering incorrectly, but I believe Buffet bought Goldman Bonds with a 10% yield guarantee. So I'm not sure the stock situation equates. I hope you can get out of the BAC trade on the next major pullback.

I don't think the Obama admin had anything to do with the Buffet deal. They haven't proven to be that savvy. It is likely Buffet may have said something to Obama and it got leaked into the market to truncate the Wave 5 down which in theory leads to a 100% retrace of the Wave 5, though this deep pullback today leads to me to think the only way we now get to 1208 is with a surprise in GDP and some of Ben's finely crafted words. Have to see how this Wave 4 works out and whether we get the breakdown as many are looking for. We'd then switch it over to a A-B-C with Wave 1 down having started this morning.

almost identical deal with goldman, except for the the 10% dividend vs. 6% on the BAC preferred. both deals were preferred (which act more like bonds - but are still considered part of the equity lien), and both are callable, the GS preferred callable at a 10% premium and the BAC at 5% premium.

http://blogs.wsj.com/marketbeat/2011/08 ... nvestment/

i think once my puts are back in the money, i'll sell.

[soku]

Cobra and others,

Any target on how high we rebound...back up to 1172 on the ES???...or higher

Thanks

if 1166.5 taken, i will bet for 1172

rejected at 1167. fighting for support around 1161. i am expecting 1 more try to the upside.

[Cobra]

well, hopefully this is the 2nd leg down I talked. I expect at least yesterday's low to be tested.

[jarbo456]

Bear flag

looks like flag breakout on the 1minute.

[Cobra]

Cobra, measured move down from the morning?

I dare not say that, seems too large.

[99er]

Updates

Gold http://99ercharts.blogspot.com/2011/08/gold_25.html
Silver http://99ercharts.blogspot.com/2011/08/silver_25.html

[JJS612]

well, hopefully this is the 2nd leg down I talked. I expect at least yesterday's low to be tested.

Cobra, using rough rule of thumb Maths, and relating to current FTSE picture, that would pull the FTSE back to approx 5000 level, which would meet a wave d of a triangle requirement, allowing for two leg lower high (wave e of the triangle completing a 4th wave), before a much larger fall to retest and drop below the lows of 9th August (namely a 5th wave down.)