11/30/2011 Intraday Watering

[brokebybernacke2]

consolidation good for bulls here, yes?

[Dow Trader]

what's you blog dowtrader?

http://EasyTrades50.blogspot.com

I guess price shot right through your cloud today

yes sure, not just above my cloud, it is above almost everything

[soku]

first POMO ever cancelled in QE/Lite/Twist history
fed supposed to sell 8b. now where the money at? u know it is only equ to 64 million shares of spy

http://www.zerohedge.com/news/fed-cance ... fficulties

[jynmax]

here is the full chart. on a boring day, i am trying to play some politics.
down trend in the chart means usd depreciation / cny appreciation. it looks like a dam releasing water. pegging (horizontal line in chart) most of the time. once dam open, (summer of 2005 to summer of 2008) we saw an 18% water fall. if you make $$$ while spending YYY for the past 25 years like cobra is doing, you lost 25% thank to the currency manipulators.
the dam is opening again. not sure when and where to close. i guess the bottom line for the chinese gov is around 1:6.

i don't know which country is right,maybe Chinese hate USA's forcing,but on the other side,any empire rose with its currency rising in value,so we can know which one is rising and which one is falling,between CHINA and USA.

[StrikePrice]

Went short at trend line break, 124.30. Fingers crossed

[uempel]

Take some profit here, let the core 25% run, over expectation run so far.

Thanks Baron…. you can always trust Beyonce, can’t you? http://www.youtube.com/watch?v=s3gaQIXa ... re=related

Me, I only trust the internals intraday... http://stockcharts.com/h-sc/ui?s=SPY&p= ... =247748592

I only trust Tammy:

http://www.youtube.com/watch?v=DwBirf4BWew

[Me XMan]

My long SPY order in at $123.80...let's see if they like dipsters...

Let's drop already!

[BullBear52x]

Take some profit here, let the core 25% run, over expectation run so far.

Thanks Baron…. you can always trust Beyonce, can’t you? http://www.youtube.com/watch?v=s3gaQIXa ... re=related

Me, I only trust the internals intraday... http://stockcharts.com/h-sc/ui?s=SPY&p= ... =247748592

Over night squeeze like this you have to read my uncle's mind. people said trading TA is not working. well, this move I think Giethner's move see if you can add Ben&the gang in your internals chart.

[taggard]

Hey everyone. This is my first post. I became a member recently and really appreciate Cobra's work and everyone's contributions. I am watching stochastics and macd. Clearly the technicals yesterday were pointing lower and this caught everyone by surprise. I think this push may go to 1300+ but the entry point will not be easy as tomorrow could be a correction day before the next push up.

thoughts?

stochastics and macd can be useful but price action is the key thing. often people start by using stochastics but find (esp the stock math) that there is a real problem trusting them esp in the longer timeframes. also in a static market slo sto on a 15 or 60 min chart can be very tight--but in a trending market they will keep you out. macd esp the histogram and esp when used looking for divergences (so histogram lower price higher or the inverse) good.

but in the end watching the price very carefully in maybe 2 time frames during the day will keep you pointed in the correct direction. i spent a long time with indicators and found a lot of flaws--at the very least choosing how when and what form to use them is important. just my experince.

Let me know your thoughts. I like the combo of MACD divergences and trendlines. MACD is first signal then trendline is the buy/sell signal. For example, on Friday last week, clearly positive D on 5 minutes, 15 minutes, 30 minutes and 1 hour. That's the first sign of a bottom. Then we are no sure so we wait for it to break the downtrendline which happened by a freaking huge gap on Monday which I am so disappointed because I was waiting for that.

I hate gaps.

---------------------------------------
note the emotional tone of your message near the end. the line "i am so disappointed" is followed by "i was waiting for that" and "i hate gaps".

first all traders use or are aware of the tools you are using--maybe you use them better in general--but if everyone knows the pattern you have to think more like improvisation in jazz rather than an absolute scored piece with no deviation from a set idea. Second if you take your feeling and invert it--that is use the idea "you were wrong" or "the tools didn't work" you can invert your thinking.

gaps are a fact of life and they can be very useful if you make friends of them remember kurtz "horror and mortal terror are your friends if they are not then they are enemies to be feared" the all time classic multi level "with out passion. . .without judgement. . .without judgement! because it's judgement that defeats us."

so if they gap it look for (1) is the gap larger or smaller. (2) is the gap inside or outside the prior days range. (3) then look at the action on a 5 or even 1 min for a test of open (first 15-30 min maybe) or a failure of open (same general idea but can be later to 1 hour or so).

if the gap is like today--large--outside the prior days range--and the action in the first 15 min shows a test--you can take a chance on going with the gap trend.

the first thing to notice is if you are upset it is a clue. either change what i am doing--or change my perspective on what i am doing. the point is the pain is a message to do something different. it may not seem "objective" but neither is the market it's just everyone's hopes dreams illusions desires etc. we can overlay technincals but these (for me) are mostly a matter of forcing me to stay in touch with the action.

good luck with your trading (we make our own luck one way or another)

[Al_Dente]

INTRADAY SCALPING ONLY
Early scalper sell signal SPY about six minutes ago
nyadv still monster strong

[Me XMan]

What you gonna do BB52X?

[BullBear52x]

Hey everyone. This is my first post. I became a member recently and really appreciate Cobra's work and everyone's contributions. I am watching stochastics and macd. Clearly the technicals yesterday were pointing lower and this caught everyone by surprise. I think this push may go to 1300+ but the entry point will not be easy as tomorrow could be a correction day before the next push up.

thoughts?

stochastics and macd can be useful but price action is the key thing. often people start by using stochastics but find (esp the stock math) that there is a real problem trusting them esp in the longer timeframes. also in a static market slo sto on a 15 or 60 min chart can be very tight--but in a trending market they will keep you out. macd esp the histogram and esp when used looking for divergences (so histogram lower price higher or the inverse) good.

but in the end watching the price very carefully in maybe 2 time frames during the day will keep you pointed in the correct direction. i spent a long time with indicators and found a lot of flaws--at the very least choosing how when and what form to use them is important. just my experince.

Let me know your thoughts. I like the combo of MACD divergences and trendlines. MACD is first signal then trendline is the buy/sell signal. For example, on Friday last week, clearly positive D on 5 minutes, 15 minutes, 30 minutes and 1 hour. That's the first sign of a bottom. Then we are no sure so we wait for it to break the downtrendline which happened by a freaking huge gap on Monday which I am so disappointed because I was waiting for that.

I hate gaps.

---------------------------------------
note the emotional tone of your message near the end. the line "i am so disappointed" is followed by "i was waiting for that" and "i hate gaps".

first all traders use or are aware of the tools you are using--maybe you use them better in general--but if everyone knows the pattern you have to think more like improvisation in jazz rather than an absolute scored piece with no deviation from a set idea. Second if you take your feeling and invert it--that is use the idea "you were wrong" or "the tools didn't work" you can invert your thinking.

gaps are a fact of life and they can be very useful if you make friends of them remember kurtz "horror and mortal terror are your friends if they are not then they are enemies to be feared" the all time classic multi level "with out passion. . .without judgement. . .without judgement! because it's judgement that defeats us."

so if they gap it look for (1) is the gap larger or smaller. (2) is the gap inside or outside the prior days range. (3) then look at the action on a 5 or even 1 min for a test of open (first 15-30 min maybe) or a failure of open (same general idea but can be later to 1 hour or so).

if the gap is like today--large--outside the prior days range--and the action in the first 15 min shows a test--you can take a chance on going with the gap trend.

the first thing to notice is if you are upset it is a clue. either change what i am doing--or change my perspective on what i am doing. the point is the pain is a message to do something different. it may not seem "objective" but neither is the market it's just everyone's hopes dreams illusions desires etc. we can overlay technincals but these (for me) are mostly a matter of forcing me to stay in touch with the action.

good luck with your trading (we make our own luck one way or another)

First, there's need of luck, but when you really good in something luck come to you like it or not

[tdo722]

Hey everyone. This is my first post. I became a member recently and really appreciate Cobra's work and everyone's contributions. I am watching stochastics and macd. Clearly the technicals yesterday were pointing lower and this caught everyone by surprise. I think this push may go to 1300+ but the entry point will not be easy as tomorrow could be a correction day before the next push up.

thoughts?

stochastics and macd can be useful but price action is the key thing. often people start by using stochastics but find (esp the stock math) that there is a real problem trusting them esp in the longer timeframes. also in a static market slo sto on a 15 or 60 min chart can be very tight--but in a trending market they will keep you out. macd esp the histogram and esp when used looking for divergences (so histogram lower price higher or the inverse) good.

but in the end watching the price very carefully in maybe 2 time frames during the day will keep you pointed in the correct direction. i spent a long time with indicators and found a lot of flaws--at the very least choosing how when and what form to use them is important. just my experince.

Let me know your thoughts. I like the combo of MACD divergences and trendlines. MACD is first signal then trendline is the buy/sell signal. For example, on Friday last week, clearly positive D on 5 minutes, 15 minutes, 30 minutes and 1 hour. That's the first sign of a bottom. Then we are no sure so we wait for it to break the downtrendline which happened by a freaking huge gap on Monday which I am so disappointed because I was waiting for that.

I hate gaps.

---------------------------------------
note the emotional tone of your message near the end. the line "i am so disappointed" is followed by "i was waiting for that" and "i hate gaps".

first all traders use or are aware of the tools you are using--maybe you use them better in general--but if everyone knows the pattern you have to think more like improvisation in jazz rather than an absolute scored piece with no deviation from a set idea. Second if you take your feeling and invert it--that is use the idea "you were wrong" or "the tools didn't work" you can invert your thinking.

gaps are a fact of life and they can be very useful if you make friends of them remember kurtz "horror and mortal terror are your friends if they are not then they are enemies to be feared" the all time classic multi level "with out passion. . .without judgement. . .without judgement! because it's judgement that defeats us."

so if they gap it look for (1) is the gap larger or smaller. (2) is the gap inside or outside the prior days range. (3) then look at the action on a 5 or even 1 min for a test of open (first 15-30 min maybe) or a failure of open (same general idea but can be later to 1 hour or so).

if the gap is like today--large--outside the prior days range--and the action in the first 15 min shows a test--you can take a chance on going with the gap trend.

the first thing to notice is if you are upset it is a clue. either change what i am doing--or change my perspective on what i am doing. the point is the pain is a message to do something different. it may not seem "objective" but neither is the market it's just everyone's hopes dreams illusions desires etc. we can overlay technincals but these (for me) are mostly a matter of forcing me to stay in touch with the action.

good luck with your trading (we make our own luck one way or another)

Thank you much taggard. I like your response.

[soku]

here is the full chart. on a boring day, i am trying to play some politics.
down trend in the chart means usd depreciation / cny appreciation. it looks like a dam releasing water. pegging (horizontal line in chart) most of the time. once dam open, (summer of 2005 to summer of 2008) we saw an 18% water fall. if you make $$$ while spending YYY for the past 25 years like cobra is doing, you lost 25% thank to the currency manipulators.
the dam is opening again. not sure when and where to close. i guess the bottom line for the chinese gov is around 1:6.

i don't know which country is right,maybe Chinese hate USA's forcing,but on the other side,any empire rose with its currency rising in value,so we can know which one is rising and which one is falling,between CHINA and USA.

when i was in china i heard people kept on talking about an existing example. that is japan in the 1990s. jpy doubled caused japenese were so rich. they were buying everything worldwide. but the aftermath is a long term deflation and recession/depression. i think chinese gov is trying to learn from it.

[TWT]

ES Globex : Follow up of the assumed wave (C) up and extension targets

[BullBear52x]

What you gonna do BB52X?

??? let the 25% core position run, buy the dip, follow my yellow line, and listen to Dr. Al's tube.

[Dow Trader]

Here is where we are tick by tick

[hiram]

there is also the difficulty in testing the validity of these patterns as sometimes they don't show up enough to test statistically. if you're looking at a pattern that has only shown up a few times, that's not really testable data.

Patterns that have shown up few times can be "testable data" if enough of them are gathered by going back many years.

IMO, since 2008 this market is for scalper. Don't be greedy all I need is average 4 oints ES each day ( yesturday I shorted 1199 and my order been filled overnight with my target ) you can see the result of scalping in my blog.
before any TA I have to try to read the market makers mind and what they must do, in the same time I always see Vix and ATR as a ruler for the week.om line, I think I have to use an easy method with small target or follow the move because waiting on a position in this market is very risky..

i could not agree with you more! my style has morphed into waiting for 2-3 10% trades weekly by using options to maximize small definable moves in the spy. only in special situations like monday would i ever hold over night 97% of the time i am in cash always. big picture this market is very very sick and its going to take years of treatment to be healthy again.

hiram

[CognitiveDissonance]

Cobra,

Is the market consolidating?

Thanks!

[Cobra]

2 legged pullback to EMA20, not bad for bulls. Maintain the target.