Cobra's Market View

Gap down below yesterday's low but it's NFP day which suppose to open low close higher so I don't know if the gap will be filled or not. One thing is certain though, assume we open right now (and later the deeper it drops the more solid the evidence), it's enough price overlap (as I discussed in the last couple of days) to prove what we had in the past few weeks is (was) merely a rebound, it's not the start of a new bull market.

Since March, the NFP down opens have closed flat or higher on the day, with none getting down more than 5 points from the 9:30 open.

On up opens on NFP, the market ended below the open.

So both reversed the trend of the gap.

Today could be different, but I am closing about 65% of my shorts here...

lets see if /es gap 1178 holds.... so far /cl 85.37 is.

Good Morning, Cobra,

Thanks for the commentary last night. I went short with TZA. Also long with Gold.

5 min ES chart looks like a bear flag, waiting for the moving averages to catch up. Could be wrong, as it could be some sort of bottoming action. Anyone have thoughts?

Good Morning.

So honey...are you ready to go out?
ES http://99ercharts.blogspot.com/2011/09/es_02.html

Gotta wash my hair first.

Good Morning Cobra and everyone!

Its going to be a great day for all the people short as the action from the last couple of days everyone has been discussing here has been pretty obvious to go short at 1230!

Currently still holding the following puts:

NFLX Oct 240 Puts
CMG Oct 310 Puts
ANF Oct 60 put
GOOG OCT 545 Put

GLTA!

Have you checked the surf report?
Copper http://99ercharts.blogspot.com/2011/09/copper_02.html

Big wave day.

Honey...should I be afraid?
AUDJPY http://99ercharts.blogspot.com/2011/09/audjpy_02.html

What...risk off?

cobra, how do you take dollar up and gold up?

stucap wrote:5 min ES chart looks like a bear flag, waiting for the moving averages to catch up. Could be wrong, as it could be some sort of bottoming action. Anyone have thoughts?

i guess i was right....that didn't take long

Btw Cobra,

Just wondering how the week after Labor day performed seasonality wise ? Especially Tuesday. Any thoughts ?

Thanks.

AK84 wrote:Btw Cobra,

Just wondering how the week after Labor day performed seasonality wise ? Especially Tuesday. Any thoughts ?

Thanks.

Cobra posted a chart yesterday

AK84 wrote:Btw Cobra,

Just wondering how the week after Labor day performed seasonality wise ? Especially Tuesday. Any thoughts ?

Thanks.

Oops. Nevermind. Just remembered u had it on last nights report! Thanks!

Cobra, After following your blog for nearly a year, and your most recent Market Outlook, 9/1, is the best I have seen. It is concise, comprehensive and well balanced. I like the TA with the stats. I also like the "if this, then that scenario". The Market Outlook is balanced with market psychology and economic indicators.
Brilliant. Thanks for sharing your insight.

long 1179 stop 1177.75

AK84 wrote:Good Morning Cobra and everyone!

Its going to be a great day for all the people short as the action from the last couple of days everyone has been discussing here has been pretty obvious to go short at 1230!

Currently still holding the following puts:

NFLX Oct 240 Puts
CMG Oct 310 Puts
ANF Oct 60 put
GOOG OCT 545 Put

GLTA!

With the after hr. drop on NFLX yesterday you are doing great.

is TOS showing another phantom bar on spy up to 120.96?

GM COBRA..That was a very good mkt analysis last night.Thanks much.

nice trading AK

sweeet