10/13/2011 Intraday Watering

[stockcycle]

I think the scene is not over yet till SPY meets 116.7. It means we may need two days.

[Cobra]

OR breakdown target, 75% chances.

[soku]

paging Cobra!!!
this is what i see on one of my favorite elloitt wave blog. need your inputs.

mtr in comments mentioned today there was probably a rare "Zweig Breadth Thrust" signal had fired. The last time this happened was March 23rd, 2009. And before that was August 3rd 1984. Each can be said to have signaled a robust bull market.

A Zweig breadth thrust fires when below 40% to above 61.5% in a 10 day time frame. Clearly it was below 40% but today ended at almost exactly 61.5%. The final reading was 615769 so technically you can say a Zweig Breadth Thrust has occurred since its only been 8 days time.

I very much respect this signal. It indicates, at the least, a very robust wave 2 event is going to occur. It seems to suggest that 1300+ will again be reached. If that happens, we'll go from there.

The bottom indicator is the ZBT. 8 days time.

[pady]

Shorted yesterday at 1218. Out at 1195. Waiting for pullback to 1205-10 to short again.

[knock]

so many people are posting here after they are in good position, post you trade when you get in and out, not next day after the market is in your favor

Got into TVIX too much and too early at 65, now about to tap back to 60 after a low of 53.

I am too! What's ur target price? holding tight? I am dreaming of its previous peak price.

[Cobra]

paging Cobra!!!
this is what i see on one of my favorite elloitt wave blog. need your inputs.

mtr in comments mentioned today there was probably a rare "Zweig Breadth Thrust" signal had fired. The last time this happened was March 23rd, 2009. And before that was August 3rd 1984. Each can be said to have signaled a robust bull market.

A Zweig breadth thrust fires when below 40% to above 61.5% in a 10 day time frame. Clearly it was below 40% but today ended at almost exactly 61.5%. The final reading was 615769 so technically you can say a Zweig Breadth Thrust has occurred since its only been 8 days time.

I very much respect this signal. It indicates, at the least, a very robust wave 2 event is going to occur. It seems to suggest that 1300+ will again be reached. If that happens, we'll go from there.

The bottom indicator is the ZBT. 8 days time.

Yes, I know this. it means significant higher in 18 months. but as snakes who cares 18 months later? And I saw the thrust in the past 2 years many times, so the statement is not correct. Believe me, I've been watching this indicator. Nowadays is different, everything moves together, so the thrust may not work as good as before.

T2103 Zweig Breadth Thrust

Developed by Martin Zweig (The Zweig Forecast, PO Box 5345, New York, NY 10150), this indicator is calculated by taking a 10-day moving average of the number of advancing issues divided by the number of advancing issues plus the number of declining issues. Since it is a percentage indicator, it cannot go below 0 or above 100. However, it is rare that it goes below 40 or above 60.

Greg Morris (G. Morris Corporation, Forest Park Tower, 9500 Forest Lane, Suite 301, Dallas, TX 75243-5914) claims that Martin Zweig says any time this indicator thrusts from below 41 to above 60 in under 10 days that the market will be significantly higher 18 months later. We find the indicator useful as an overbought/oversold indicator, also.

[Dow Trader]

Who made this candle finally won
2 charts one chart from yesturday when the candle showed up and chart for now

[CognitiveDissonance]

CognitiveDissonance wrote:
alvian33 wrote:
"so many people are posting here after they are in good position, post you trade when you get in and out, not next day after the market is in your favor



Got into TVIX too much and too early at 65, now about to tap back to 60 after a low of 53.

I am too! What's ur target price? holding tight? I am dreaming of its previous peak price."

if spx taps 1170ish I'll be looking to exit. don't expect bottom to be lower than 1150 or so, may not get there today. the question is, what comes first, 1122 or 1150.

I don't think you'll be seeing triple digit TVIX prices soon, but that's just my 2 cents.

[Unique]

freestockcharts down for anyone?

[BullTart]

Added even more TVIX at the end of yesterday's session.

VIX reversal panning out as anticipated- check out my chart.

HOWEVER- this is a short term play for me. Once we start approaching the 1170s, I will start taking profits and prepare dry powder to go long. We are, after all, still in a JBTFD mode for the interim.

If that JBTFD never materializes, I'll simply re-enter TVIX again and ride it down.

What I won't do is hold TVIX stubbornly thinking this is the crash.

[Unique]

Who made this candle finally won
2 charts one chart from yesturday when the candle showed up and chart for now

What you really thought we could go to 1230 in one run?

[buyorsell]

I think it's time to add some short position on IWM.
Look at the chart below:

[KENA]

I see there are some who bought FAZ,VIX, and other shorts yesterday.Thats great and was a good move.I did not buy anything for the last 3 days since i was at my max short limit.Good trading to those that jumped in.

[Al_Dente]

so many people are posting here after they are in good position, post you trade when you get in and out, not next day after the market is in your favor

Go back to yesterday's blog, last page I posted the FAZ...

Wave, I am stunned, I watched same severe overbought for 2+ days, etc
must say, you really have big ones, big ones
To grab FAZ yest near close, on a squeeze day, frontrunning the first financial eps report of the season, JPM
Incredible…Hat off 2 u, and 2 everyone else on this board with iron guts holding bear many overnights
Lets watch if bear will last for day or two or week++++
PS: wave, I need more cowbell

[Mr. BachNut]

PAGING JARBO
Different view here, ALL BEAR
Watch SH try to mirror the NYDEC declining issues today
SH is bear ETF, the inverted SPY if u will
(brother to juiced SDS and triple juiced SPXU, but SH is pure unjuiced)
Refreshable, can u see bear?
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =246007758

Al Dente,

Whenever I check your chart link, I cannot figure out how to intepret. Can you give a brief explanation for how this kind of chart works? Thnx.

[CognitiveDissonance]

Added even more TVIX at the end of yesterday's session.

VIX reversal panning out as anticipated- check out my chart.

HOWEVER- this is a short term play for me. Once we start approaching the 1170s, I will start taking profits and prepare dry powder to go long. We are, after all, still in a JBTFD mode for the interim.

If that JBTFD never materializes, I'll simply re-enter TVIX again and ride it down.

What I won't do is hold TVIX stubbornly thinking this is the crash.

Great Point! I don't think we'll be seeing triple digit TVIX prices soon. 1170s is my profit taking price as well.

[Al_Dente]

freestockcharts down for anyone?

freestk ok 4 me

[barbaragull]

bulls, fight back, let me buy back my short position

[Dow Trader]

Who made this candle finally won
2 charts one chart from yesturday when the candle showed up and chart for now

What you really thought we could go to 1230 in one run?

as long as we are above 1180 in ES then 1222 is the target
2 key level for bears to watch :
1- an hourly close below 1182 in ES
2- a visit to below 1180
if we are above those level, then the decline from yesturday's high is a small pullback then we go up again

[pablorynx]

Morning All.

Game plan for AAPL. Short at open ...will stay below 406. Test 396 at which point im out of the Day trade . Then we'll see.


Cobra. I see Futures down only 4 points....why would u say big gap down and wont b filled ? seems small to me .

Why does AAPL keep holding up? doesn't everyone and their mom own this stock already?