06/15/2011 Intraday Watering

[Masm]

Copeland,
Your change of pic caused CFTNS (coffee through the nose syndrome)...you owe me an new monitor!

[Cobra]

measured move.

[Sqwii]

Cobra try zoom out on SPY - make trendline from 1st june top to the 9th june top , we broke it yesterday - now what... backtesting perfect - sweetest long spot imo

[Cobra]

Cobra try zoom out on SPY - make trendline from 1st june top to the 9th june top , we broke it yesterday - now what... backtesting perfect - sweetest long spot imo

you mean this back test? you might have chances but seldom a strong push down like we are having now just has one leg, so after a rebound, should be more on the downside, normally though.

[oldpigwang]

Cobra: this rebound target?

[Sqwii]

Here is a chart

[HK88]

still a rebound is possible here, but remember my rule: huge gap down, lower low after 10:30am ET, 90% chances open > close today. and basically from the chart, normally, there should be another down leg at least.

I thought you also had a rule like: huge gap down, NO lower low after 10:30am ET, 90% chances open < close today. Little bit confused here

[99er]

Gold
Update.
http://99ercharts.blogspot.com/2011/06/gold_15.html

[Cobra]

still a rebound is possible here, but remember my rule: huge gap down, lower low after 10:30am ET, 90% chances open > close today. and basically from the chart, normally, there should be another down leg at least.

I thought you also had a rule like: huge gap down, NO lower low after 10:30am ET, 90% chances open < close today. Little bit confused here

no such a rule.

[Cobra]

Cobra: this rebound target?

no idea

[Sqwii]

Cobra yes you got it - normally I would say after a breakout , a backtest is better to have before the next big rally - overall markets oversold now 30 min chart and ready to rally from here ( with the backtest completed ). I think we have a good rally comming from here until end of june...

[99er]

Silver
Update.
http://99ercharts.blogspot.com/2011/06/silver_15.html

[99er]

Crude
Update.
http://99ercharts.blogspot.com/2011/06/crude_15.html

[TrendTrade]

The market seems to be trapped between two strong trendlines. One possibility is that this move will ultimately end in some sort of ending diagonal in the next 2 weeks. At this point I am just focusing on support and resistence areas. Very suprising to see commodities holding up so well thusfar even in the face of a strong dollar

[I_Got_Prechterized]

where's the guy that was guaranteeing me 110 handles if I went long yesterday?

[budfox]

http://www.greedandmoney.com/?p=287

Pretty extreme tick around here. -1200 ticks.

[Cobra]

not even count as a rebound, so any rebound here still would fail. there'll be another leg down.

[uempel]

I'm looking at 1256 for a long entry:

[HK88]

I guess fear is a bit there but we also need a good volume capitulation for a bottom

[Me XMan]

Capitulation at SPX 1000?

I guess fear is a bit there but we also need a good volume capitulation for a bottom