Cobra's Market View

Euro shot up - why did stocks take a hit? = that's bullish.

its all up and down

champix wrote:Sarkozy/Merkel press conference :
- new financial government in EU
- new "no deficit allowed" rule for all the UE members
- proposal of financial transactions tax

you must be kidding.

Sarkozy/Merkel are talking about the taxation of financial transactions - that's why the market reacted nervously

Did someone say Megaphone? Pretty LOUD I might add...

So higher trading costs in Europe mean more money coming into US markets? Looks like the market is going to be digesting this one for a bit.

uempel wrote:Sarkozy/Merkel are talking about the taxation of financial transactions - that's why the market reacted nervously

just a proposal, those rich guys control everything, don't think they'll punish themselves.

This the time when I have to walk away from the computer, do nothing is best.

uempel wrote:Sarkozy/Merkel are talking about the taxation of financial transactions - that's why the market reacted nervously

seems we gonna see your 1180 zone...

that's no good.

I had a perfect long setup today (while Uempel still waiting for his entry ), had to close out with much smaller gains than I planed. Too bad. On 2nd thought, still better than Uempel who's empty handed anyway.

Update:

Looks like the Wave Count I posted earlier may have completed in an Ending Diagonal.

can some one post that one video"baby loss every thing" this got to be end of w4.

Cobra wrote:

uempel wrote:Sarkozy/Merkel are talking about the taxation of financial transactions - that's why the market reacted nervously

just a proposal, those rich guys control everything, don't think they'll punish themselves.

Umpel,
where did you get the news from? could please post a site?

Cobra wrote:that's no good.

I had a perfect long setup today (while Uempel still waiting for his entry ), had to close out with much smaller gains than I planed. Too bad. On 2nd thought, still better than Uempel who's empty handed anyway.

Is it like Uempel said it's testing 1187 (which is his entry)? still bull or bear for this week?
Will you hold position over night?

Cobra wrote:that's no good.

I had a perfect long setup today (while Uempel still waiting for his entry ), had to close out with much smaller gains than I planed. Too bad. On 2nd thought, still better than Uempel who's empty handed anyway.

So Cobra youre not that bullish now for tomorrow and rest of the week ? Reccomend buying the dip today or not ?

Cobra wrote:that's no good.

I had a perfect long setup today (while Uempel still waiting for his entry ), had to close out with much smaller gains than I planed. Too bad. On 2nd thought, still better than Uempel who's empty handed anyway.

Empty handed? Went short with minis yesterday at the close, covered today in the early morning at 1187 - a bit too early, my habitual mistake

that's wait for the dust to clear first.

NORMALLY should be at least another leg down. But there's a trick here: I had exactly the same 90%+ winning rate setup yesterday and today, while yesterday lost 2 of them, if another failure today, that'd be 3 in a row a 90%+ winning rate setup failed, which I think it's very rare if not impossible. Well, let's see.

Tabby wrote:

Cobra wrote:

uempel wrote:Sarkozy/Merkel are talking about the taxation of financial transactions - that's why the market reacted nervously

just a proposal, those rich guys control everything, don't think they'll punish themselves.

Umpel,
where did you get the news from? could please post a site?

France, Germany to Propose Financial-Transaction Tax
http://www.bloomberg.com/news/2011-08-1 ... n-tax.html

uempel wrote:

Cobra wrote:that's no good.

I had a perfect long setup today (while Uempel still waiting for his entry ), had to close out with much smaller gains than I planed. Too bad. On 2nd thought, still better than Uempel who's empty handed anyway.

Empty handed? Went short with minis yesterday at the close, covered today in the early morning at 1187 - a bit too early, my habitual mistake

cover in the morning was the right thing to do. I was too greedy, kind hope a gap up today to short.

My gain got wiped out for the second time, third time before I give up Gap support is still there and strong, so, don't discount it. I am still wearing a bulls' cap.