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Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 12:09 pm
by wxtrader001
Cobra wrote:OK, my little evil hatched plan for bears. For fun as I'm about to be outside for 30 min.
En,let's see if it comes true. but in my opinion,it may be right with 1/3 possibility ,today's market is so violent with high volume,i just keep away.
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 12:23 pm
by simpletrade
Added VXZ positions(55.38-55.55), think we have to see some reactions to middle east in the market, soon. Egypt was ignored so far. Too afraid to add VXX, and even VXZ could turn out to be very bad.
I think people have no where to put their money now(even PM is risky), buying risk is not a bad idea, in 1-3 month. My thinking, could very well be wrong.
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 12:28 pm
by Cobra
So far my little evil plan goes almost as planed. I'll say a little rebound here, then another leg down at least.
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 12:34 pm
by simpletrader
wxtrader001 wrote:Cobra wrote:OK, my little evil hatched plan for bears. For fun as I'm about to be outside for 30 min.
En,let's see if it comes true. but in my opinion,it may be right with 1/3 possibility ,today's market is so violent with high volume,i just keep away.
today's low will be broken .
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 12:34 pm
by Me XMan
Looking like correction has started.
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 12:37 pm
by wxtrader001
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 12:46 pm
by Cobra
Support.
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 12:53 pm
by Cobra
I wouldn't think breakdown right now would be real, a little consolidation is needed here for bears. For bulls, no dip buying here, there should be another leg down even it rebounds right now.
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 12:59 pm
by Cobra
The support is more clear on this chart, bear need a little consolidation here at least.
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 1:09 pm
by Cobra
Off the record, if I'm a bulll (I'm neigher bull nor bear, I'm snake), I wouldn't worry too much here because VIX is well prepared for the drop, therefore we'll see a rebound as early as tomorrow. Remember, VIX rose 18%+ the next 80%+ up statistics?
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 1:10 pm
by Me XMan
Support is probably at ES 1315-1320.
Bounce there and then another crapping out day.
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 1:14 pm
by schmd2000
Buy dip then
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 1:17 pm
by 99er
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 1:28 pm
by trade2000
How low are we going?
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 1:33 pm
by Cobra
trade2000 wrote:How low are we going?
No idea yet. If you agree this is a Rising Wedge breakdown, then the target should be the start of the wedge which is around 129.50. But I wouldn't dream that far nowadays.
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 1:45 pm
by Cobra
Too bad, even the consolidation is weak. The very first rebound intraday would most likely fail, so you know how to trade now...
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 1:46 pm
by 99er
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 1:53 pm
by Cobra
Rebound, I shall guess, but no safe buy dip here...
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 1:59 pm
by nelsonbelchior
Cobra wrote:Rebound, I shall guess, but no safe buy dip here...
Do you think it is going to go down more? Another leg down?
Re: 02/22/2011 Intraday Watering
Posted: Tue Feb 22, 2011 2:02 pm
by Dow Trader
first base target 1312( I warn about Gadaffi at first hour high)
