Cobra's Market View

simpletrader wrote:

Cobra wrote:wow, speechless. even the market is more bullish than I'm, I thought I'm extremely bullish now.

fake break out?

need see more bars. be cautious cannot be too wrong.

KENA wrote:Yes and I don't know who would buy here.All the charts of major stocks are sky hi and are screaming for PBOH.But they can go higher like just now on this pop up.

Every money manager who is underweight and underperforming will have to start buying or worry about his job now. If this thing doesn't correct early next week, there is a lot of potential buying out there. Price and value almost becomes irrelevant.

The Zweig Breadth Thrust thing looks like it will trigger too.

KENA wrote:Yes and I don't know who would buy here.All the charts of major stocks are sky hi and are screaming for PBOH.But they can go higher like just now on this pop up.

This was to be for Stucap & Waverider..Don't know what happened but my screens hung up for a min and this is what came out.

Cobra wrote:overshot, negative divergence, so might not break through this time?

Divergence don't matter if you're in a strong trend. Correct?

Need a combination of resistance plus divergence to pick a top.

if spx closes below 1220, what is your take?

Mr. BachNut wrote:

KENA wrote:Yes and I don't know who would buy here.All the charts of major stocks are sky hi and are screaming for PBOH.But they can go higher like just now on this pop up.

Every money manager who is underweight and underperforming will have to start buying or worry about his job now. If this thing doesn't correct early next week, there is a lot of potential buying out there. Price and value almost becomes irrelevant.

The Zweig Breadth Thrust thing looks like it will trigger too.

Pressure is mounting for both active bears, and passive bulls.

ricster3

RUT http://99ercharts.blogspot.com/2011/10/rut_2696.html

We've broken up through the down channel (purple) so I expect prices to continue heading north (blue) for awhile.

Cobra,

Thanks for your response regarding ISRG yday. Looks like shooting star forming on daily. Do you think this could still affect the bullish weekly outlook before earnings ? ? ?

Thanks

silicon_beaver wrote:

ricster3 wrote:99ercharts: Will the RUT ever pull back again?

I'm long $TZA from 37.9, looks like you have it going to 760, is that a maximum target?

I'm seeing a p-bar to 69.8 on IWM... hopefully it does have it's pullback someday!

little high. good luck.

My reason

FAZ lower BB 48.5
TZA lower BB 35.1
ERY lower BB 14.8.

Yes but at the same time, IWM is at it’s 30 min upper bollinger band. Don’t feel like covering here, could be the top as it’s way overbought. lol

AK84 wrote:Cobra,

Thanks for your response regarding ISRG yday. Looks like shooting star forming on daily. Do you think this could still affect the bullish weekly outlook before earnings ? ? ?

Thanks

tough call, need see more.

Time for that P Bar to kick in?

covering here @ 1216.25 . looks like cup and handle on hourly /es . target is 1225. i am done guys have a good one

that was hell good stop run. who did this must be laughing evilly now. Wo ha ha ha ha, something like this.

May be to soon to say but this may be the big fake out of all times.

welcome back to EARTH!

The $ and the long bond have been quiet. The action is straight equity trade at the moment.

Bears will start having their days near the end of next week.

Easy money...risk vs reward baby..daily spy options are fun.

Who else thinks a 1185 retest is guaranteed? Just bought some SPY October 22 118 and 123 puts for this swing trade.

wayne0708 wrote:welcome back to EARTH!

nice one
pump & dump !!!

heavenskrow wrote:Bears will start having their days near the end of next week.

Can't wait, this bear is hungry.

Any info from the bond market?