10/13/2011 Intraday Watering

[Cobra]

good bull bar, but bulls need follow through to form a double bottom here then the low is in for at least the morning.

[Cobra]

in case you want to know double bottom target. not confirmed yet of course.

[barbaragull]

good bull bar, but bulls need follow through to form a double bottom here then the low is in for at least the morning.

Let's go test yesterday's high

[Dow Trader]

The first warning for who is trade ES in short side today is the move above 1196

[KENA]

Yes Retail still green so can,t break the 1190 level,Hopefully we will not have a double bottom.This would be a boreing sideways move..Lets see.

[jarbo456]

paging agnosia. looks like a decent time to add to a short /cl position no? a good rebound from this morning's thrust through 84 support, and now a bearish flag...going to add a couple more contracts short i think. i'm eyeing mid 82 range. the stop on my added contracts would be just north of 84.

[DRL]

freestockcharts down for anyone?

freestk ok 4 me

The updates are working, but I lost all my trendlines. Have sent email to their support desk.

[Cobra]

support is clear on bigger picture.

[BullTart]

My view of what's happening is that we won't fill that gap today and create an island reversal. The correction could go into another day or two into the island reversal's target of 1170-ish, which is precisely where I plan to take profits on TVIX.

Let's see if this pans out.

[BullBear52x]

GM

[BullTart]

BullBear52x, we exactly on the same page.

[Unique]

freestockcharts down for anyone?

freestk ok 4 me

The updates are working, but I lost all my trendlines. Have sent email to their support desk.

Shitty I'm stuck at "loading"...

[SB73]

BullBear52x, we exactly on the same page.

Fortunately or unfortunately too many of us are on the same page which reduces the odds it will play out.

[waverider]

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

Haha, well JPM only slightly beat the consensus today and fell fairly hard yesterday. The averages trended down for about the final hour and a half yesterday. I figured it could be a winning trade. I'll keep the stop tight, but your NYDEC system is working well, bouncing around in the mid 2000s. What do you mean by cowbell? Nosebleed territory?

[BullBear52x]

BullBear52x, we exactly on the same page.

Yes, should be strong support at that gap area.

[Mr. BachNut]

As I said yesterday when I closed my hedges, it was just in time for the correction. Groan. Sticking to discipline is hard.
Still have my 1/4 short (now a partial hedge), but the plan is to close it out at some point during this down move.
It is reasonable to anticipate at least two pushes down.
I will be adding longs if we get to the SPY 117 - 119 range.
As moves are exagerated these days, the low end of that range, if not below, are possible. Watching VIX to gauge exageration potential.
If the October 4 low is THE low, there should be a alot of support around SPY 115.
Agree with Cobra that higher highs should be forthcoming. If 70 week moving average is broken to the upside, the 200 day moving average will be the target.

[Al_Dente]

PAGING JARBO
Now we switch to 5min, easier 2 read
REMEMBER THIS IS BEAR SH
No SPY
We watch bear internals until further notice
http://stockcharts.com/h-sc/ui?s=$NYDEC ... =246012600

[SB73]

The first warning for who is trade ES in short side today is the move above 1196

Dow Trader - I respect your work, but need clarification on this statement....what is your basis.

[Al_Dente]

PAGING MR BACH
Sorry, no time now to annotate better
Will work up something 4 u
May be tomorrow

[Cobra]

key time, the 3rd try on the low, if cannot breakdown, then today's low might be in, so bears must show some strength here. on the other hand if bears can manage a breakdown it'd be a failed double bottom, bulls will be running in cover, that would double the breakdown effect. so go bears go.