02/07/2012 Intraday Watering

[Petsamo]

We have a fat finger trying to do some selling

where? all I see is a new high at the moment

I run the 1 min chart. I'm more sensitive to seeing things

[SB73]

I don't ever recall a time where the market went down while Bernanke speaks. I bought 5 SPY 133 calls at 1.45 and sold at 1.96 for a quick scalp.

Trend is up - don't fight the tape. Bears will have their day, just not yet.

Nice move...scalped the metals for similar results.

[SWalsh]

Man those HFT are sure buying up this market. Damn those HFT are crazy traders.

That's a seriously ignorant analysis. Given that last night you called this board a group of HS dropout losers, what do you think, you are amusing?

Yes it is insightful if you understand it. You can follow all the charts in the world and it won't tell you a thing about tomorrow. I find it laughable when i read these forums and people talking about HFT and everything else they know absolutely nothing about. Or the folks that look at sometime like the TRIN and its magic predictive power. LOL! The majority of the high school drop outs here with their disillusions of day trading for a live have zero clue as to how these indicators are even calculated. The EMA of the EMA of the EMA. That is laughable.

I hope the mortar work on your bridge you live under is fixed shortly so you can return to your residence, little man. Be sure to tip the Gumbies. http://wn.com/Monty_Python__The_architect_sketch

Res ipsa loquitur

[ballatines]

is it a valid breakout or wait for second leg?
hope the market won't just stay there is too boring

[BullBear52x]

intraday sell triggered

[waverider]

where? all I see is a new high at the moment[/quote]
I run the 1 min chart. I'm more sensitive to seeing things[/quote]

Ah, now we have some nice bear bars on the 5 min, gimme a double top. The 1 min, nice! That's a tough one.

Big volume spike on /CL, they're trying to push it above the gap at $99.15

[SWalsh]

Cobra could be in play an wedge into daily chart :

I would think there has been buying with the 50 day crossing the 200 day MA. But it looks like they were sold everything they wanted.

I'm looking at that wedge also and a break might have plenty of longs liquidating and gravity is always a bitch compared to helium!

[springheel_jack]

Just for the record Prechter advised his subscribers to go (leveraged!!!) short at about 1290 with a stop at 1360, on the basis on imminent major 3 down or whatever. I also have it on very good authority that EWI counts all conform to EW rules, however wildly wide of the mark they eventually turn out to be.

I'm no Prechter fan & personally think EWI should have given up forecasting a long time ago, but he hasn't had subs short from 1050 and his EW counts are all technically valid.

[stucap]

Just for the record Prechter advised his subscribers to go (leveraged!!!) short at about 1290 with a stop at 1360, on the basis on imminent major 3 down or whatever. I also have it on very good authority that EWI counts all conform to EW rules, however wildly wide of the mark they eventually turn out to be.

I'm no Prechter fan & personally think EWI should have given up forecasting a long time ago, but he hasn't had subs short from 1050 and his EW counts are all technically valid.

Prechter has proclaimed 3 of 3 of 3 of 3 of 3 several times over the past few years and they've all blown up in his face. And what does he do? Revise his count and try again just like any EW guy does. Difference is that Prechter core subscribers are permabears so he has a tendency to jump on short opportunities too early. Also, Prechter doesn't trade much of his own money just prognosticates and collects oodles of subscription fees.

[Cobra]

looks like a valid breakout, maintain the target.

[springheel_jack]

Just for the record Prechter advised his subscribers to go (leveraged!!!) short at about 1290 with a stop at 1360, on the basis on imminent major 3 down or whatever. I also have it on very good authority that EWI counts all conform to EW rules, however wildly wide of the mark they eventually turn out to be.

I'm no Prechter fan & personally think EWI should have given up forecasting a long time ago, but he hasn't had subs short from 1050 and his EW counts are all technically valid.

Prechter has proclaimed 3 of 3 of 3 of 3 of 3 several times over the past few years and they've all blown up in his face. And what does he do? Revise his count and try again just like any EW guy does. Difference is that Prechter core subscribers are permabears so he has a tendency to jump on short opportunities too early. Also, Prechter doesn't trade much of his own money just prognosticates and collects oodles of subscription fees.

I'm not defending his record, just the opposite.

My understanding by the way is that Prechter does not trade himself as he's (cough) a better analyst than trader. A wise decision there if that's true.

i have his book though & he's a decent author if you ignore all the multi-century wave rubbish.

[Wallstreetrader]

NATGAS Anyone daytrade ?

[Me XMan]

Uh oh...may have to hedge then...

looks like a valid breakout, maintain the target.

[Petsamo]

SPY wants to rise, IWM wants to drop

[BullBear52x]

I posted this chart on the weekend watering, not bad (bragging) well intraday sell triggered, lets see if indicators will take us anywhere. so far the MM manage to do the opposite. sell double top and have to trade <134.61 to confirm the sell.

here is the double top I talked about

[ballatines]

SPY wants to rise, IWM wants to drop

it lacks the strength i expected and i can just wait ....

maybe liquidation takes time ?

[Me XMan]

DOUBLE TOP!

I posted this chart on the weekend watering, not bad (bragging) well intraday sell triggered, lets see if indicators will take us anywhere. so far the MM manage to do the opposite. sell double top and have to trade <134.61 to confirm the sell.

[BullBear52x]

Paging Dr. AL

I will post all my indicators study here http://bullbear52x.blogspot.com/ from now on, this board I will talk intraday only.

[SWalsh]

DOUBLE TOP!

I posted this chart on the weekend watering, not bad (bragging) well intraday sell triggered, lets see if indicators will take us anywhere. so far the MM manage to do the opposite. sell double top and have to trade <134.61 to confirm the sell.

If this is wave 4 from this morning's low (implying this drop at 12:30 is a correction) it would be 4x the time of wave 2 which while not a rules violation, is not often seen:

[dcurban1]

NATGAS Anyone daytrade ?

We were talking about it yesterday.

I call it a weather trade.