08/17/2011 Intraday Watering

[BullBear52x]

Big move is in the making, so long we stay above 5dma I am Bullish, just because now that we trades under 200ma 1min. and a penny before closing out all long stop I am very disappoint in Bulls. well, if she can not do it she can't, no short signal just yet per my signs.

[Cobra]

Cobra,

What is your target on the downside here short term after this failed breakout.

thanks

should be larger than the tinted area, I think.

Hi Cobra,

Does your logic for this particular tinted area stem from looking at past down moves? It seems you are gauging how strong the market can sell (intraday) before Bulls fight back? Thanks in advance - I'm curious!

Yes, generally, in an uptrend, the push up gets weaker and weaker, while pullback gets stronger and stronger, so you can use the previous pullback size as reference. The same applies to downtrend. This is my theory, Cobra's law, maybe number 2. The number 1 Cobra's low is, well, some know and I'll say this later when it applies.

[v1stock.com]

tmv as bad as last sell off buying 30y us t bonds

flash crash anyone?

[progruss]

Cobra,

What is your target on the downside here short term after this failed breakout.

thanks

should be larger than the tinted area, I think.

Hi Cobra,

Does your logic for this particular tinted area stem from looking at past down moves? It seems you are gauging how strong the market can sell (intraday) before Bulls fight back? Thanks in advance - I'm curious!

Yes, generally, in an uptrend, the push up gets weaker and weaker, while pullback gets stronger and stronger, so you can use the previous pullback size as reference. The same applies to downtrend. This is my theory, Cobra's law, maybe number 2. The number 1 Cobra's low is, well, some know and I'll say this later when it applies.

LOL - Thanks for sharing your wisdom, 1 or 2 laws at a time!

[The Hook]

Now the lunchtime suckers buy gold...beware

[BullBear52x]

one last stand for Bulls.

[nikman]

Cobra,

What is your target on the downside here short term after this failed breakout.

thanks

should be larger than the tinted area, I think.

Hi Cobra,

Does your logic for this particular tinted area stem from looking at past down moves? It seems you are gauging how strong the market can sell (intraday) before Bulls fight back? Thanks in advance - I'm curious!

Yes, generally, in an uptrend, the push up gets weaker and weaker, while pullback gets stronger and stronger, so you can use the previous pullback size as reference. The same applies to downtrend. This is my theory, Cobra's law, maybe number 2. The number 1 Cobra's low is, well, some know and I'll say this later when it applies.

Always follow. Do not front-run!

[Cobra]

Cobra,

What is your target on the downside here short term after this failed breakout.

thanks

should be larger than the tinted area, I think.

Hi Cobra,

Does your logic for this particular tinted area stem from looking at past down moves? It seems you are gauging how strong the market can sell (intraday) before Bulls fight back? Thanks in advance - I'm curious!

Yes, generally, in an uptrend, the push up gets weaker and weaker, while pullback gets stronger and stronger, so you can use the previous pullback size as reference. The same applies to downtrend. This is my theory, Cobra's law, maybe number 2. The number 1 Cobra's low is, well, some know and I'll say this later when it applies.

Always follow. Do not front-run!

hmm, make this number 0 rule. it's not number 1. All the rules here are trading tips, so this is not very technical, may not count?

[BullBear52x]

once more time buy that dip, be greedy when others are fearful. old man said it.

[newbie_77]

good afternoon cobra and all online buddies

looks like we found support @ 1190

[newbie_77]

may be just to rollover and head down....

[Petsamo]

XOP had a bad tick (phantom bar) and XOP made to that bad tick target.

[Cobra]

the is the 3rd intraday pullback, the previous 2 only had 1 leg, I don't believe this one has only 1 leg again. after all it's still the Earth, law of inertia should apply.

[uempel]

Difficult to trade as long as resistance is not broken - not good for shorts, not good for longs. Bye guys, I'm off for today.

[Out of Bounds]

Another kiss goodbye?
Maybe, maybe not.

SPY _2011-08-17 122839 1.GIF (13.48 KiB) Viewed 10350 times

[Al_Dente]

Maybe enough SPY volume at 12:15 ish ET to flag up toward 119.90

[Petsamo]

Long XME 56.74; I have to hold for 3 days; I'm using unsettled funds.

[newbie_77]

looks like a replay of last wednesday. now we head up to 330 and there will be big selloff towards the end and tomorrow 15points up in SPY

[Tabby]

once more time buy that dip, be greedy when others are fearful. old man said it.

Old man wants to pay more taxes. You should follow that too.

[cguirguis]

the is the 3rd intraday pullback, the previous 2 only had 1 leg, I don't believe this one has only 1 leg again. after all it's still the Earth, law of inertia should apply.

Does that mean you think we'll probably retest today's highs (or at least 1200) before coming back down and forming a double bottom? Is it safe to say the rebound is over and we're on the second leg down?