08/05/2011 Intraday Watering

[99er]

So honey...what's for lunch?
RUT http://99ercharts.blogspot.com/2011/08/rut_05.html

Rocky Mountain Oysters again?

[Me XMan]

I've just unloaded some hot stuff in my pants...

target reached, overshot, volume surge, hopefully a rebound of some kind here then should be another leg down at least judging by the selling strength.

[newbie_77]

now we have met the H&S target if we reverse and shoot up ( probably 0.01% chance ) ..... may be we will create inverted H&S and knock out the 1345 high

[Cobra]

wow, if someone told you that the H&S Top target would be reached within 2 days, nobody would believe that but well, we're making the history.

[Me XMan]

They're saying it's 1130.

I have the H&S bottom as around 1170 on the SPX.
I believe we're just about there.

Trying again - bought the Dow at 11162 at £10 per point.

[hdenandy]

Mustn't get greedy with this market !!
Sold my Dow call at 11296

130 points in 15 minutes or so.
That will do for now.

[wishful]

wow, if someone told you that the H&S Top target would be reached within 2 days, nobody would believe that but well, we're making the history.

Finally... target reached.... TA still works then..hope market will rest for a while...

[Cobra]

rebound, indeed, and this probably the fastest bottom pattern we could have. Let's see.

[oldpigwang]

Cobra Da: Still sell the bounce, right? Look for better point to enter Spy put, d u think ok?

[Anaconda]

Mustn't get greedy with this market !!
Sold my Dow call at 11296

130 points in 15 minutes or so.
That will do for now.

Good one! I think we've seen the low for the day. But, the Cobra knows best. If we hit a lower low, I'm buying some calls into the new week.

[hdenandy]

Should have waited 5 minutes longer !!!
Oh well.

[newbie_77]

wow it took 1hr 35 mins to go from 120(approx) to 117 and in 15 mins we are back there

[fuddleduddle]

Cobra, awesome charts. I'll be spending time learning that TSX LT trading signals chart. Hope you continue to provide more knowledge on the TSX on these boards. I'm sure there's a sizable Canadian audience here.

[xiakeman]

Anybody consider buy XIV?

[uempel]

There is a nice (linear) channel going back to 2009 and SPX might have made a bottom at the lower edge.

[AK84]

this matrket is INSANE!!!!!
down 200 and then in 1 tick down 87 !!!! reound to down only 25
and now down 67!
WTFFFFFFFFFFFFFFFFF
i bet Day traders are getting chopped up too today

[Cobra]

Cobra Da: Still sell the bounce, right? Look for better point to enter Spy put, d u think ok?

I don't know when to sell the bounce, depends on your time frame. you should know if there's any bounce, it cannot be small bounce. Check Oct 2008 for example.

[Cobra]

Cobra, awesome charts. I'll be spending time learning that TSX LT trading signals chart. Hope you continue to provide more knowledge on the TSX on these boards. I'm sure there's a sizable Canadian audience here.

yeah, I do do TSX analysis and share TSX trading signals, just not on this board or my blog yet.

[agnosia]

i don't know how one would trade this market successfully. crazy crazy crazy.. cash is a position

[Cobra]

could be a channel resistance. strong rebound but volume surge, so may consolidate a little here then one more try on the upside. I'll wait for a few bars before changing my evil plan...