Cobra's Market View

looks like (yet another) rally/breakout is in order. makes perfect sense

Al_Dente wrote:LESBIANS

Now that I have everyone’s attention: commodities peoples: find the honey badger

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bwahahaha. AL - that worked! I totall looked...

folks, the market is going up. we're not likely to get any catalysts for at least a week or two. the only trade right now is up - there is no way the pitiful volume of real people trading is going to offset the algo march. and they follow the lines, and the lines are up until broken hard. stops will...

we finally gapped up - does that mean the uptrend can finally correct? maybe

retail sales ex autos +0.8% vs est of +0.4%. last month revised from -0.4% to -0.8%. if i tell you that next month sales will be 99 vs this month at 90, then you expect +10%. then next month comes in at 99 and i say, "actually last month was really 85" thus producing a +15% m/m gain and yo...

I don't know how one can be bearish in this environment. I am still bullish to 1420, but If Obama gets re-elected then taxes will kick into high gear with Obamacare. Europe is collapsing long-term. Earnings expectations were lowered. There's only one bull case: regime change with Romney & Ryan....

well, that 's if for today. for the 4th time, a gap down was bought, failed to close in green though, so this time bears did make some progress by closing a little bit in red. now the question is: will the market gap down again the 5th time? thank you guys, I'll see you tomorrow. maybe we'll finall...

I would think bears would want us to finally get a close with daily RSI below 70. bulls have been able to pull it back above 70 to close every day the last week. we'll make no ground until that finally closes below. IMHO

here's what I mean more up. overshot, so might be a pullback here, then another leg up, USUALLY. if bulls win today then i think the bears' hopes are dashed for a while longer. makes a run to 1420-1440 pretty easy. if bears aren't willing to hold the ground after an entire week at 1400 then they're...

PAGING ONLY BEARS, bulls go away bears only, short-to-swing term, not intraday PUT CALL RATIO...........INVERTED so it becomes the Call to Put Ratio This is only INDEX options, daily, only EOD end of day so Friday’s close, and I only watch it bcuz Cobra says it is “smart money” Anywhoooooooo I’ve b...

bears look gutless. yet another intraday buy the dip

Cobra wrote:looks like bulls dream come true.

agree... frustratingly. everybody still seems to be looking for that plunge. can't recall the last time we tanked when everybody was looking/hoping for it...

10pt bots back in action (1405-1395)

I have been in the market long enough to know that if there is a summer (doldrum) melt-up on low volume, "da big boys" don't like that and will knock prices down before end of September so that hedge funds, big money, etc., can buy at the lower prices. Happens every time. You can bank on ...

dr659 wrote:

Cobra wrote:bouncing from support. if for the 3rd day in a row we have a reversal up on the morning gap down, this market might never drop anymore.

Its an election year

Does the "election year" concept still hold when most mark participants don't like who's likely to be elected...?

TraderGirl wrote:

SigmaEcho wrote:100% time extension?
march top > june low =
june low > august 12.

Aug 12 equals low?

Not sure if you were joking or not, but pretty sure SigmaEcho means August 2012 will be a projected top (8/3/12 to be exact is the 100% time extension i believe)

lots of comments on TLT... trying to predict moves on the TLT without understanding the bond market is a little odd if you ask me. TLT the security is merely a passenger on the UST 30 bus. there was a 30yr auction today. see my post from earlier; the afternoon bounce was a 95% probability event.

Al_Dente wrote:TLT supports bull spy at the mom

Al Dente- I wouldn't read too much into the TLT/TBT moves until after teh 30yr auction at 1pm. It often sells off heading into it.

Mr. Miyagi - we had a brief discussion last month about the 50/200 cross. If you recall: --- Re: 07/26/2012 Live Update rc1269 wrote: Mr. Miyagi- in relation to the 50/200 cross on the Monthly chart, check out March of 1978. Very similar multi-year setup and they nearly crossed. But instead they jus...

Nrsimha wrote:

rc1269 wrote:Is it just me or is everybody here looking for a pullback? Does that not concern anybody...?

I am looking for a pullback based on Myagi's p-bars yesterday!!

okay. so that just sort of confirms my point