Cobra's Market View

we might get up to /es 1155 ..

9/11 anniversary has perhaps some symmetry of meaning with Bin Laden top

To Da Moon!
SPX http://99ercharts.blogspot.com/2011/09/spx_4961.html


Alone And Drinking Under The Moon by Li Po

Amongst the flowers I
am alone with my pot of wine
drinking by myself; then lifting
my cup I asked the moon
to drink with me, its reflection
and mine in the wine cup, just
the three of us; then I sigh
for the moon cannot drink,
and my shadow goes emptily along
with me never saying a word;
with no other friends here, I can
but use these two for company;
in the time of happiness, I
too must be happy with all
around me; I sit and sing
and it is as if the moon
accompanies me; then if I
dance, it is my shadow that
dances along with me; while
still not drunk, I am glad
to make the moon and my shadow
into friends, but then when
I have drunk too much, we
all part; yet these are
friends I can always count on
these who have no emotion
whatsoever; I hope that one day
we three will meet again,
deep in the Milky Way.

Have a great Moon Festival.

wow, now it's in the too stretched zone.

What a manipulation!!!

what i tell ya...my bid missed by 3 cents and then ran away. no time to chase it. well, my calling on this one was right. we'll get an under 116.66-76 open tomorrow.

Next target :

frankthetank wrote:is this the plunge protection team out of retirement. Too squash my shorts

wait -- a 2%+ move in 30 minutes is not a function of an efficient market?

could be a bear flag on the hourly. top is at 1155-56. (/es)

rola wrote:What a manipulation!!!

Yup! And wait until you see tomorrow.......bulls will be back for a day or two or three......

Wow- talk about an intraday reversal!

Only way to survive is to stay nimble and don't let emotions get the better of you, no matter if the market does or doesn't do what it "should" do.

100% in cash after taking profits on TVIX in the early afternoon. May actually play the long equities side now and see where that leads (even though I think the market should tank).

stucap wrote:

frankthetank wrote:is this the plunge protection team out of retirement. Too squash my shorts

wait -- a 2%+ move in 30 minutes is not a function of an efficient market?

haha...oh wow...and people actually still believe the markets aren't manipulated right in front of your nose?

sick.

perhaps a strong opening tomorrow above 118 or below 116.66 given the strange big bar at the close.

well, guess that's it for today, the market closes very strong, but it's a little too stretched, interesting to see if gap up tomorrow morning whether the gap could hold. Thank you guys, I'll see you tomorrow.

Cobra wrote:my guess is that's it for today if not a pullback here because it closes to too stretched.

A close at the Daily Pivot sounds about right. Fill the gap up above tomorrow. Then we can head back down.

Ostrich rally again. No big news untill wednesday as brought the bulls back untill there's more bad news. What a joke. Usually assuming makes an ass out of you and me but when it comes to stimulus just assume and enjoy

StrikePrice wrote:

Cobra wrote:my guess is that's it for today if not a pullback here because it closes to too stretched.

A close at the Daily Pivot sounds about right. Fill the gap up above tomorrow. Then we can head back down.

My hedge hopes you're completely right, lol.

We finished too strong. There was a 2 million last sell on SPY. We may gap down tomorrow.

qtipped wrote:cobra, i've charted approx the same resistance to go short today...116.66...your line is at 116.75. close enough. i will prob buy a little of my spy puts there. hoping around 1-2pm. i don't see how this rally could last.

heehee, it closed at 116.67

but i did not go short end of day...risk reward isn't worth it...this could gap over 1pt above tomorrow.

Petsamo wrote:We finished too strong. There was a 2 million last sell on SPY. We may gap down tomorrow.

Love your "bang head here". So sick of this bullcrap manipulation.