09/22/2011 Intraday Watering

[Cobra]

surprise, usually a huge gap like this, the market would rebound immediately upon the open...

[jarbo456]

it looks like there's a good amount of support around this 112.50-112.75 level. anyone else getting that?

[soku]

long here. targeting 1136

we need to get out of 1120.5-1125 area. i am betting for upside. if next move is rejected at anywhere below 1127.5, i will put in a stop

[buyorsell]

Hi Cobra,

I was following your blog for a while. I really enjoy it. That's why I just registered this forum.
I also believe that we're going to test Aug.9 low. I think the market needs a big washout if we want to have another bear bounce.

Cheers!

[stockcycle]

I think bears are very happy and begin to take some money out of table. Me too.

[Al_Dente]

Wow, declining issues opened 2500 and went to 2700 within the first thirty minutes
Breathtaking
Obviously all other internals solidly behind this drop, but looks like they need a breather here

[soku]

long here. targeting 1136

we need to get out of 1120.5-1125 area. i am betting for upside. if next move is rejected at anywhere below 1127.5, i will put in a stop

the reb stopped at 1130 area where lies the vwap. i guess it will back test 1126.75. out half of my position and wait for a better signal.

[uempel]

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[ultramarine]

Short position built last week is still on. Now in the money.
My mechanical model did whipsaw back to a sell yesterday in classic bull trap fashion. Amazing how bullish things can look right before dive.
Did not quite get to full position as last tranche had a sell price of SPY 122.2. OK with that as being short in front of FOMC was very scary.
Resistance zone held amazing well. Stop loss point was not even flirted with. Confirms Bear Market rules remain in effect.
Should have finished the position on the break yesterday, but I am a tortoise not a snake and thus too slow.
Trend line of rising bottoms from August low has been violated. So, this is our test of the low and a double bottom can be looked for in coming days.
Will be looking for some kind of low and a positive divergence to form to get bullish.
That said, I don't plan to overstay my welcome on the short. If given a good price, will take profit arbitrarily without regard to technicals. May happen today.

Congrats. Thanks for updating. My shorts are also looking rosy although most of mine are to be held for the medium term. While I am expecting a bounce over the next few days, I will stay short.

[jarbo456]

long here. targeting 1136

we need to get out of 1120.5-1125 area. i am betting for upside. if next move is rejected at anywhere below 1127.5, i will put in a stop

the reb stopped at 1130 area where lies the vwap. i guess it will back test 1126.75. out half of my position and wait for a better signal.

look at how sneakily it jumped the vwap.

[shumushu]

Anyone listen to the pit trading of the S&P 500 /SP big contracts? (I went to check it out today) What does it mean when they say, the papers are selling or buying?

[KENA]

I see no reason why the mkt will not visit the lows in the 1100 area since we are this close.Could take 2-3 trading days.Wait and see.

[cougar]

Just trying to see if the “quick reply “ works.
I tried 3 times to post some stuff and charts here this morning, but I was kicked out of this blog every single time…Something technically wrong?
I might try later again.

[shumushu]

I am seeing some serious strength in the russels and $vix is lagging again. A 3% gap down only up vix 7%.

[jarbo456]

wow. stronger rebound than i expected. pretty much straight up for the past 20+ minutes.

[soku]

long here. targeting 1136

we need to get out of 1120.5-1125 area. i am betting for upside. if next move is rejected at anywhere below 1127.5, i will put in a stop

the reb stopped at 1130 area where lies the vwap. i guess it will back test 1126.75. out half of my position and wait for a better signal.

not bad. exit all at 1135.5. the momentum is gone. i will sit on hand for the next couple, you know, minutes.

[Mr. T]

long here. targeting 1136

we need to get out of 1120.5-1125 area. i am betting for upside. if next move is rejected at anywhere below 1127.5, i will put in a stop

the reb stopped at 1130 area where lies the vwap. i guess it will back test 1126.75. out half of my position and wait for a better signal.

not bad. exit all at 1135.5. the momentum is gone. i will sit on hand for the next couple, you know, minutes.

Just enough time for some kissy wissy with gun-girl eh?

[Al_Dente]

wow. stronger rebound than i expected. pretty much straight up for the past 20+ minutes.

Jar
U don’t even wait for a higher low; I see one little doji and next stick tail to VWAP, now this stick red.
On an anti-trend trade?
Wow, you guys scalping seconds/minutes. Are u that quick?

[jarbo456]

wow. stronger rebound than i expected. pretty much straight up for the past 20+ minutes.

Jar
U don’t even wait for a higher low; I see one little doji and next stick tail to VWAP, now this stick red.
On an anti-trend trade?
Wow, you guys scalping seconds/minutes. Are u that quick?

haha. depends on the day, but yeah, sometimes that quick. but that was more of a general statement in regards to what i was seeing on the minute and tick charts.

[heavenskrow]

WEEEE thank god i got back in TMF and UUPT yesterday after fed meeting...