03/20/2012 Intraday Watering

[alvian33]

Cobra,

My TOS chart shows a phantom bar on Apple to 570, do you see it?

[alvian33]

Any one see huge P Bar on AAPL chart touches 570 ?

I have 2- 3 minute pbars in both TD and TC2000.

haha, looks like everyone has it

[Cobra]

still on the support. I honestly don't expect we down huge from here.

[Cobra]

Cobra,

My TOS chart shows a phantom bar on Apple to 570, do you see it?

yes.

[Mr. BachNut]

It looks like the ARMs sell warning (TRIN 5 day sma < .8) may pay.
On Friday, I promised that if this setup failed, it would be three strikes and I would go away and stop bothering you guys.
Alas, if the bulls don't turn this thing around (again), you may have to put up with me a bit longer.

As the warning fit nicely into Cobra's evil plan, I shorted the pop yesterday. This is a short term trade. It will be closed if we get a high one day TRIN (TRIN > 2) or on the next trading day with an up close or if we get down toward the February highs.

[OverUnder]

Cobra, can you explain this? I might be missing something obvious, but my charts on 2 different platforms are showing different numbers than yours for the reaction high you are drawing as support. You have a number around 139.75, I have 140.3.

still on the support. I honestly don't expect we down huge from here.

[TraderGirl]

1425ish could be a potential triangle target...waiting for 22nd to have another possible bounce...then we could correct after that...
from slope:
http://slopeofhope.com/2012/03/sp-appro ... arget.html

[alvian33]

Cobra,

My TOS chart shows a phantom bar on Apple to 570, do you see it?

yes.

could that be the target?

[Cobra]

just wild-est-est-est guess. the normal pattern should go like this. at least this is a 2 legged down. remember, it's direction only, size and time don't count.

[Cobra]

Cobra,

My TOS chart shows a phantom bar on Apple to 570, do you see it?

yes.

could that be the target?

don't know.

[Al_Dente]

1 min

[Petsamo]

Anyone familiar with JOY?
I'd like to start nibbling.

[ysc]

Cobra,

My TOS chart shows a phantom bar on Apple to 570, do you see it?

yes.

could that be the target?

don't know.

Laoda, you are more conservative to make the call for down side these days.

[uempel]

Tricky day to trade for me, yesterday was far easier. I guess I'm going to take a day off (unless somebody comes up with a great idea...)

[uempel]

It looks like the ARMs sell warning (TRIN 5 day sma < .8) may pay.
On Friday, I promised that if this setup failed, it would be three strikes and I would go away and stop bothering you guys.
Alas, if the bulls don't turn this thing around (again), you may have to put up with me a bit longer.

As the warning fit nicely into Cobra's evil plan, I shorted the pop yesterday. This is a short term trade. It will be closed if we get a high one day TRIN (TRIN > 2) or on the next trading day with an up close or if we get down toward the February highs.

ARMs SW2.jpg

BachNut, yesterday/today was nearly 15 handles - what else do I want? I'm happy with anything which goes in my direction. 3 is ok, 5 is good, 10 is great.

[TraderGirl]

Well there was a turn day on Monday or Tuesday, I guess it happened Monday night. The next turn day is on Thurs, so looks like Cobra's two leg down might end on Weds or Thurs morning for a potential bounce on Thurs 22nd, we will see....

[uempel]

1425ish could be a potential triangle target...waiting for 22nd to have another possible bounce...then we could correct after that...
from slope:
http://slopeofhope.com/2012/03/sp-appro ... arget.html

TraderGirl, on the long term daily I've got resistance up at 1430ish, posted this chart on Cobra's blog 2 hours ago...

[Cobra]

failed here would be double top, bulls need a breakout.

[Cobra]

if you don't know what I mean double top, here's the zoom in chart. get used to see double top/bottom in 5 min chart without looking at 1 min chart is essential for your day trade skill.

[uempel]

failed here would be double top, bulls need a breakout.

Cobra, have a look at the longer term charts, strong support around 1400/05, very strong.