10/28/2011 Intraday Watering

[99er]

Well...so much for the "fix." Check out Italian bonds.

http://www.zerohedge.com/sites/default/ ... 8_BTP6.png

http://www.zerohedge.com/news/berluscon ... d-breaks-6

[agnosia]

long 1275, stop 1274... gap fill at 1280.75

Is your stop a little too tight?

I took huge loss (nearly 20% of my account) this moring before hour (wrong timing again ), and will set stop in the future.

this is the way i trade. i use 5:1 rule for /es so i get stopped out a lot but in the long run i make money when the market runs. i rather get stopped out a lot of little losses than big ones.

when the market went past 1275 i set my stop to even. 20% ??? that's nuts. i never risk more than 1% per trade.

[GreedyKojiro]

Suddenly, when the earth people(like Cobra said) find out the problems did not solve yet, they will hit the sell button. The problems are getting bigger and bigger. We need a complete "FLUSH" to have a fully clean !

I don't think they have woken up yet unless something big occurs. This is just profit takers' and counter trend (all or nothing) folks' doing... Gaps will be filled soon

[L_T]

Someone posted something a while back about the Ichimoku clouds and I have been viewing charts with them as an indicator lately. Interesting stuff. Anyway I wanted to post this chart as someone (maybe DOW TRADER?) listed different conditions for a trend reversal using these clouds. This is GLD which looks like it may break the trend to the upside if it pierces through the "transition" area of the cloud. What does everyone think?

[gabor]

@Cobra
Is there any rule regarding to the massive gap-up of yesterday?

no. other than short-term pullback, long term good kind of stuff. but as you can see, nowadays people keep telling me don't ever say stuff like tomorrow is up or down, a day or two pullback, because it's useless for them, in stead one sentence everyday is enough: the trend is up or the trend is down. I should repeat this sentence and exactly the same sentence day by day so that I become the best blogger ever.

Cobra do you have rules to decide if the current rally is a bear market rally or the beginning of a fresh bull trend?

[yxc74]

long 1274.25 cover1278.25

[pady]

Beginning of the down move. Maybe one more high. One of my short term indicators turned negative after 1228. ( ignoring a whipsaw, it really is turning after 1140 ).

[mac769]

Good morning all. Not intending to do much today. I may take a small short if we hit 1300-1307 and the 78% Fib retracement.

Euro is holding onto 1.41 quite well so far. Is this confirmation of a breakout? I doubt it, but let the Euro tell the tale. If it can stay above 1.40, then OK.

Good morning all

The Bond-Markets obviously dont believe in THE Euro-Solution, todays Italy Bond-Auction sees record-high rates of 6%+... it is only a question of time until the last Euro-Short is gone and the markets realize that this is one more time kicking the can down the road, altohug by quite a distance.

http://www.reuters.com/assets/print?aid ... LB20110714

Reality may set in rather sooner than later...

[Denali92]

Just one pattern to note - as one would expect, we got hourly OB yesterday.... the one consistent pattern that we had had for the last 2 weeks is that when we get hourly OB, we head down sharply (a la Oct 13th and bounce) or we roll over more like this past Tuesday and we then bottom between 10:00 and 12:30 the following day....

It may mean nothing, but, here are the days that it occurred:

12-Oct Hourly OB: rolled over sharply in pm - bottomed Thursday am
14-Oct Hourly OB- down on Monday, bottomed at 10am
19-Oct Hourly OB - down in afternoon and bottomed at 12:20 on Thursday
24-Oct Hourly OB- Down all day Tuesday and bottomed at 11 on Wednesday.

May be nothing, but it has been consistent.... it may have also been opex related and now we are out of opex.... the thing I missed with this pattern is the shortness of the downtrades indicated buying pressure that I chose to ignore, as the pattern usually is good for two to three days of weakness and I failed to focus on the divergence....

Anyway, if the pattern holds, then we should see buyers between 10 and 12:30 Monday morning for the next wave higher.

-D

[StrikePrice]

I see a Descending Triangle on top of the Diagonal overshoot. Waiting for it to break down and test yesterday's lows.

[bobo]

Ho hum. I believe it was only a revision and is a non event.

sentiment beats at over 60

[agnosia]

*stupmed*. market can't even fill a small gap after a big day like yesterday and with a good consumer number. something is fishy.

[Cobra]

could be small double bottom or 3 push down here. no dramatic down then it'd be bulls turn. let's see.

[Al_Dente]

OMG, gigantic hawk on my back patio table, stretched out both my arms very very wide to estimate wing span, devouring bird, can’t tell what kind of bird, head dangling off broken neck, feathers littering entire patio, NEVER saw that before, scary, hand holding coffee is shaking, quietly closed sliding doors, hawk glared at me, flew away, he’ll be back for the rest of his breakfast, soon…
Internals update confirm bear:
http://stockcharts.com/h-sc/ui?s=$NYDEC ... =246211365

[barbaragull]

long 1275, stop 1274... gap fill at 1280.75

Is your stop a little too tight?

I took huge loss (nearly 20% of my account) this moring before hour (wrong timing again ), and will set stop in the future.

this is the way i trade. i use 5:1 rule for /es so i get stopped out a lot but in the long run i make money when the market runs. i rather get stopped out a lot of little losses than big ones.

when the market went past 1275 i set my stop to even. 20% ??? that's nuts. i never risk more than 1% per trade.

sigh, i got this 20% loss by keep adding to losing position (and bad entry timing/skills)

[bobo]

Using EWT, if (iii) of v of C of minor 2 topped yesterday, 1265 would represent a 38.2% retracement of (iii) and there would be one final push higher in (v) to say 1307, although there is a pivot at 1303.

Look for touch to 1265ish before testing highs.

[Cobra]

@Cobra
Is there any rule regarding to the massive gap-up of yesterday?

no. other than short-term pullback, long term good kind of stuff. but as you can see, nowadays people keep telling me don't ever say stuff like tomorrow is up or down, a day or two pullback, because it's useless for them, in stead one sentence everyday is enough: the trend is up or the trend is down. I should repeat this sentence and exactly the same sentence day by day so that I become the best blogger ever.

Cobra do you have rules to decide if the current rally is a bear market rally or the beginning of a fresh bull trend?

no rule. Have I ever declared this is a bear market? I really don't care if it's a bull or bear market.

[pidge66]

could be small double bottom or 3 push down here. no dramatic down then it'd be bulls turn. let's see.

H4 now. What's the max count?!

[ultramarine]

OMG, gigantic hawk on my back patio table, stretched out both my arms very very wide to estimate wing span, devouring bird, can’t tell what kind of bird, head dangling off broken neck, feathers littering entire patio, NEVER saw that before, scary, hand holding coffee is shaking, quietly closed sliding doors, hawk glared at me, flew away, he’ll be back for the rest of his breakfast, soon…
Internals update confirm bear:
http://stockcharts.com/h-sc/ui?s=$NYDEC ... =246211365

Could be an omen for you.

[rocstocktrader]

Stock market article: “Market Sectors Pointing To Further Gains In The Market?”

http://stk.ly/qYFCaS