09/14/2011 Intraday Watering

[balance]

what the heck...it feels like the old pomo day. getting killed. time to throw in towel?

You're exactly right. Who in ones right mind would buy at this moment, other than Timmy and Ben's PPT.

[MajorEasy]

the bulls are smart,
they realize the shorts can be squeezed out here.....
let see how this developes

[Cobra]

the 3rd push? Key time.

[qtipped]

the 3rd push? Key time.

what's after the 3rd push?

[Petsamo]

If we have bears here, short EWG (Germany). Currently, it's overstretched at +3.83%. I already sold mine, swung traded into EWZ (Brazil).

[BullTart]

Watch out here... this is where retail traders tend to get screwed... be careful before taking action here... wait for confirmation before doing anything.

[Grizzly]

SPY leading IWM... unnatural.

[Cobra]

3 push, overshot, volume surge, let's see if all those could help bears a little. Counter trend call is difficult so not sure, just some chances.

[champix]

No idea on crude... I have a bullish mind with 90+ as a target, but 1 min chart shows me a potential 87.50 target... so wait and see !

[accipiter]

ES 1177 is overnight high, right now serve as resistance zone

[Tutti]

QQQ,SMH @ 50D SMA. For longer term players probably not a wise play to initiate longs in tech names now. just imo

[BullBear52x]

gap filled also

[Tabby]

My first post. First off must admit I am a huge Cobra fan. You are ......and probably extremely good looking with women dying to touch you.

[Cobra]

tinted area as pullback target. wild-est-est-est guess the rest of the day, subject to change at any time.

[Cobra]

My first post. First off must admit I am a huge Cobra fan. You are the best, funny, even tempered, and probably extremely good looking with women dying to touch you. My take on the market for what it is worth. Early Sept 8% drop followed by a 70% retracement. Next we had a 6.0% drop for which a retracement of 65% has been achieved over a 3 day time frame. Charts are eerily similar to those which would beg for a nasty reversal tomorrow through early next week. The best set up for a bear from what I can see is a black candle close today. somewhere around 118 to 188.25 would be best. An agressive push higher or lower today will remove this possibility.

Thanks and welcome aboard!

[SB73]

One more post...trying to earn my stripes. I hope we don't see a heavy reversal today, because it will setup my gap and go scenario (down that is). Looking a little closer we just need to close below 118.34 on SPY. I suppose Cobra's scenrio could also play out (of course it could....Cobra is a genious ) wherein we close near flat and rally up tommorow for a lower high.

[KENA]

gap filled also

I thought the gap was up at 1185.Nice that it was filled though.

[nonabear]

Cobra,

Do you look at the candlesticks and how they end the day. If we end somewhat close to the high of today it would look like 5/19 or 5/31 of this year...meaning a down open would/could be bad tomorrow.

Also, this is the weakest rally of the 4 that we have had going back to August 10. Does that raise a concern on the upside here. Not bearish or bullish, just trying to be unbiased...so looking for bullish clues also.

[KENA]

I will say that this last push came very close to the point where I would have covered my shorts.

[Cobra]

Cobra,

Do you look at the candlesticks and how they end the day. If we end somewhat close to the high of today it would look like 5/19 or 5/31 of this year...meaning a down open would/could be bad tomorrow.

Also, this is the weakest rally of the 4 that we have had going back to August 10. Does that raise a concern on the upside here. Not bearish or bullish, just trying to be unbiased...so looking for bullish clues also.

SPY close as Hanging Man or Inverse Hammer, won't look good. 5/19, 5/31 could happen, 50% chances.

Yes, this is the weakest rally so I really doubt about the upside.

Guess it all depends on how many people are bullish here. If we're all looking forward a rebound failure, then most likely it won't happen. I mean, AS OF now it looks like bulls are failing but be ready to change mind at any time.