06/02/2017 Live Update

[Al_Dente]

National Donut Day

[QED]

the pullback should be bought somewhere.

I think I finally figured out what is wrong ... the market has been following Cobra's advice.

If Cobra would only say: "Sell ... sell ... sell," then down we would go!

[QED]

Great time to buy ...

"S&P market fundamentals at 1929 'irrational exuberance' levels"

[Cobra]

possible C&H, bias is up.

[fehro]

VIX multi year lows..

[Trades with cats]

Great Time to Buy

Sarcasm off- In the short term the market is an auction. Central Banks have been doing everything they can to make sure there are plenty of bidders. You cannot defeat them in head to head confrontations. Over the longer term the market is a value weighting mechanism. But Michael Lewis's new book on behavioral economics proves the point that people, especially trained professionals, can not make rational decisions. They even know they are not making the rational decisions. The index funds and Bridgewater style hedge funds just make it worse as they don't care about value. But basic underlying value always has come back in the past, usually with very sharp teeth and when the dust settles the high flyers can't sit down anymore because they lost their gluteus maximus. But it is very very hard to predict in advance when that bubble is going to pop. And very easy to go broke betting on the top.

What history has shown is the longer the natural movement is artificially repressed the greater the reaction when the repression is finally overcome. So I wait, and I day trade knowing that I have nothing in the market when I am not watching it. It is inconvenient, in fact it is pretty much a full time job. But I sleep at night. I was watching my screen when the great flash crash happened. If you missed it go look at a detailed future chart for the night of the Trump election. When Bridgewater and the rest pull the plug that is what it will look like, only without the v shaped turn around.

[Cobra]

members only update at 3:50 pm
http://www.cobrasmarketview.com/2017/06 ... ay-update/

[Cobra]

well, guess that's it for today. Monday has been very bull friendly recently. thank you guys, I'll see you in another thread soon.

please don't forget our weekly sentiment poll which will be posted right after the close.

before the close, please take a little time to vote for me, thanks. https://stockcharts.com/public/1684859/tenpp

[Cobra]

our weekly sentiment poll is here: viewtopic.php?f=9&t=2487

[q2model]

members only update at 12:05 pm
http://www.cobrasmarketview.com/2017/06 ... ay-update/

Is there a free website to look at charts? Freestockcharts.com does not work anymore

Thanks

works here. http://www.freestockcharts.com/platform/v1 or here stock charts http://stockcharts.com/freecharts/

Which browser do you use? I tried with Firefox and Edge. Both of them do not work.Thanks

[Cobra]

members only update at 12:05 pm
http://www.cobrasmarketview.com/2017/06 ... ay-update/

Is there a free website to look at charts? Freestockcharts.com does not work anymore

Thanks

works here. http://www.freestockcharts.com/platform/v1 or here stock charts http://stockcharts.com/freecharts/

Which browser do you use? I tried with Firefox and Edge. Both of them do not work.Thanks

I think freestockcharts.com requires silverlight so only run on IE and windows.

[q2model]

members only update at 12:05 pm
http://www.cobrasmarketview.com/2017/06 ... ay-update/

Is there a free website to look at charts? Freestockcharts.com does not work anymore

Thanks

works here. http://www.freestockcharts.com/platform/v1 or here stock charts http://stockcharts.com/freecharts/

Which browser do you use? I tried with Firefox and Edge. Both of them do not work.Thanks

I think freestockcharts.com requires silverlight so only run on IE and windows.

Thanks cobra and fehro. It works on IE.

[trader24]

Great Time to Buy

Sarcasm off- In the short term the market is an auction. Central Banks have been doing everything they can to make sure there are plenty of bidders. You cannot defeat them in head to head confrontations. Over the longer term the market is a value weighting mechanism. But Michael Lewis's new book on behavioral economics proves the point that people, especially trained professionals, can not make rational decisions. They even know they are not making the rational decisions. The index funds and Bridgewater style hedge funds just make it worse as they don't care about value. But basic underlying value always has come back in the past, usually with very sharp teeth and when the dust settles the high flyers can't sit down anymore because they lost their gluteus maximus. But it is very very hard to predict in advance when that bubble is going to pop. And very easy to go broke betting on the top.

What history has shown is the longer the natural movement is artificially repressed the greater the reaction when the repression is finally overcome. So I wait, and I day trade knowing that I have nothing in the market when I am not watching it. It is inconvenient, in fact it is pretty much a full time job. But I sleep at night. I was watching my screen when the great flash crash happened. If you missed it go look at a detailed future chart for the night of the Trump election. When Bridgewater and the rest pull the plug that is what it will look like, only without the v shaped turn around.

I recall watch the futures on Trump election and I agree it was scary to see just how quickly the plug can be pulled. While I am in the same boat as you, I have kept most of my capital out of the market waiting for the next "event" that may or may never come anytime soon, especially while the economy / GDP is on the increase. Do we get our next crash when P/E ratios are at 30x, 40x, 50x? Hard to know.

In hindsight I would have just kept all my money in the market and ignored it vs spending most of my day trading and hoping to get the same gains. It has been a frustrating year!