Cobra wrote:and by the way, has anyone noticed the INDU behavior on %B? INDU is a very special index unlike the other index that far above %B may mean nothing. if you have time, you could check the history since 2007 top.
Cobra,
if u know that a pullback is coming , why not ignore ur model and go short or stay in cash ? this is where i get confused sometimes. i undetrstand the failed trade system but dont u want to be ahead of that ?
BTW. LONG LIVE THE COBRAAAA COZ WITHOUT HIM TRADING ISNT ANY FUN !
trading against trend is always dangerous, I don't want you guys to take the risks after all not many people are very experienced, so if I say, I expect a pullback and I've shorted, then some inexperienced guys may follow and chances are pretty high that they lose money eventually. So nowadays I only report the with trend trade. I myself, may or may not take the "against trend" trade depends on how confident I'm on my forecast and the against trend trade is always smaller than the with trend trade currently held. I think 90% chances I don't take the "against trend" trade.
Then why bother do the forecast? Because it's useful for experienced traders. You know, I'm trying to fit for everyone's needs here and that's why now I separate the trading signals from the market outlook.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
ballatines wrote:Tks Cobra ~ I love this great site and your inspirational analysis ! always appreciate it
Thanks. After 3 years, I finally know what I should write what I should not. At the very early stage of my writing, I think it's very confusing although you guys mostly didn't say anything. Now I'll try my best to be direct and transparent (just look at my avatar, who am I? What did I say recently. Yeah, transparent). The report should be much better than before now. Hope you guys like what I write now then before.
Artyomzzz wrote:Ok, since we talk about Cobra now one thing amazes me is how you know and keep up with all those stats that you publish at the end of the day in your End-of-Day comments? For instance, VIX & SPX close in green, SPX bars 8 times green in a row, etc, etc, and what it all means
I always try to find something unique for the day so that I can have something to say.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
nowadays we always close strong. but the last 2 or 3 5 min bars usually weak. let's see.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
IYR and XLF weaker than the market today. IYR especially has been leading recently so perhaps a pullback is coming, although the overall short-term target for IYR is still a point higher which could hit next week.
well, guess that's it for today. we have 4 days in a row close above BB top which is rare but it did happen in the past. thank you guys, I'll see you the next Monday!
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.