Cobra's Market View

Chopy Chopy this morning but S&P seems strong ...I think we will close up in the green.

BullBear52x wrote:Buying FAZ in an anticipation that the Ascending triangle will betested and break out, if not FAS here I come.

The BKX is trying to put in a short term bottom.Could be anytime.

I"m going to hold my SPY call.. We may have a start of a snap back rally tomorrow with a try for a double top befor we have a downside break to test the 1295 area. I guess wait and see.

For what it is worth If you look at the 60 min chart for the COMP. you can see a potential H&S forming.

We have put in a temporary double bottom and now we could see an up move to test the highs. We will be going back down to try and break this bottom.Lets see how we close.

Lots of time when we have a nice slow up or dn trend like todays up trend it will continue this way.

OK you other traders.. I'm taking a small position in spy Apr Call. Now lets GO UP.

simpletrader wrote:will there be a pull back up or not?

WAIT.... To late for short....To earily for long....We should get a direction by mid morning.....WATCH and WAIT.

I don't think I will buy at the close.Don't really know which way the mkt will open tomorrow. The unemployment report may not be that good.So wait and see. Boring day today.Glad I at leased worked out.

uempel wrote:

upup.png

Looks as though the 3rd break out of the flag is valid...

Yes but so far it is still a lower high.Same trend for last 3 hrs.

For the last 2 Hrs and 40 min the 1 min line chart shows 5 lower highs and 5 lower lows.We are now going up again,will it be another lower high.It is just about time for all the dippers to pile in and push the mkt up for a good closing. OR!!!!Wait and see.

SPXBreakout.png So much going on now. I'm looking at the dollar and at crude. And did you hear that Pimco is getting out of government bonds? I'm not yet sure what the implications are. Difficult to trade now. I'm waiting for a breakout to either 1336 or 1288. yeap, I'm waiting too. No clear trend....

I have noticed we may have traders from all over the World on Cobras Web Site. Why don't you let the rest of us know where you are from.It is nice to know who you are talking to. I am from a small town called LaConner in Wash. State USA.

Sold Cat put for a profit.Cat will have some resistance in the $150+ area and now is in a somewhat up move. May buy back later today.

Stocktiming.com says... VIX is in a triangular pattern and will break out max. next Wed. March 16 if not sooner.(probably sooner then later). Wait and see.

I am taking a way in the money put (april) onCat. This will correct even if the mkt is somewhat green.It will usuallay have large moves.

If you don't want to short the indexes CAT and DE looks like a good short when the mkt pull back. These two are very topy.

Right or wrong I sold my spy call from yesterday,sometimes when I get greedy I sell for less. Now I waite for a short or something.

99er wrote:Copper
H&S in development?
http://99ercharts.blogspot.com/2011/03/copper_08.html
That would be nice, eh?

It does not look like a good left sholder but who knows..If it is yes that would be nice.

It's trying to break thru this res. area...If we do the next stop may be in the 1325 area...Wait and see.