10/28/2011 Intraday Watering

[gabor]

The gap is filled. Cobra's call was coorect!

[GreedyKojiro]

no rule. Have I ever declared this is a bear market? I really don't care if it's a bull or bear market.

No you did not declare anything like that, but many trader believe, that is the olny thing you have to know.

gabor, to answer your question, we have to ask how far forward you want to look at? Do you want to look at 1 year from now, or you want to look at 1 month from now? Time frame is an important factor when looking at trend.
All the fundamental issues have to be solved before we can think of a bull market in a long run. European countries haven't solved their problem. Yes, they do have a plan but there is no action taken place yet. In addition, Uncle Sam has to solve the deficit issue too. Nov. 23 is approaching but so solution yet... That is why Cobra maintains his target of 1,000. History shows that all it takes is a big bad news will bring the market back to the floor...

[Al_Dente]

Okay, now I’m getting very emotional with this internals update
http://stockcharts.com/h-sc/ui?s=$NYDEC ... =246211365

[waverider]

China to restrict “vulgar tendencies” with an “internet managing system” ....now this….
http://www.nytimes.com/2011/10/27/world ... &emc=tha22

Hey Al, you were right, HYG outperforming SPY means risk on! The Chinese government is saying ...Apparently 100% of stocks in the financial sector yesterday were above their 50 day MA's: http://www.bespokeinvest.com/

hi wavy, unreal, financials 100% above
Risk-on, risk-off, best quote of the day, so far, from the master snake
“I really don't care if it's a bull or bear market”

Agree, if one trades against Cobra's system for anything other than a day trade they will likely lose money.

BTW thanks for the reply in Disqus Cobra!

[Cobra]

Cobra - if your target is still 1000, wouldn't that be a bear market? Thanks

I won't insist that target if I find more evidences.

[gabor]

Cobra - if your target is still 1000, wouldn't that be a bear market? Thanks

I won't insist that target if I find more evidences.

Most of the arguments you listed up are already out of date, I think.

[waverider]

Two vessels have collided off waters of China's eastern coast, cargo ships, two dead and one missing...

[pady]

I got wiped out playing options (being a pig). Granted it was only a 4k account..

then my loss is many times bigger than yours. i stick to averaging down (for long, or average up for short) because once i did get all the loss back and further won a remarkable profit (more than 30% of my account). but i guess i can't be so lucky every time. so will change

(Why I have to submit 3 or 4 times to post?)[/quote]

Averaging down/up is a very very tricky thing. I am still holding Lucent shares from 2000 - ouch !!! Bought Amazon at 100$ in the 2000 peak, saw it go to 7$ in 2002, held till this year and sold at 170$. If I had averaged down, I would have made much more but then I might also have sold it earlier than now. As they say - good traders know entry and exit points. I have many more years to learn that. Good luck on your trading.

[EvilTrader]

we will crash next week, after all shorts covered and bulls entered full position.

The market is a mean son of a b

[newbie_77]

market is trying to digest yesterday's monstrous move

time to go long and make up

[Al_Dente]

Cobra - if your target is still 1000, wouldn't that be a bear market? Thanks

I won't insist that target if I find more evidences.

Most of the arguments you listed up are already out of date, I think.

attention gabor:
smack… DO NOT disrespect the master, you little….

[silicon_beaver]

look at the charts.

FAS filled gap.
SPY not yet. But being closer.

[bobo]

Sometimes patience is a virtue. I bought 500 shares of AAPL in 2002 at $26, pre 2 for 1 split,during that bear market and sold it a breakeven after about a month and have never owned it since. It was paid for, along with other holdings. Had I held that and averaged up in a margin account.....woulda, shoulda, coulda! I hate that stock. Dumb and dumber, at that time it was trading for about its cash value, IIRC.

[Algyros]

@Cobra
Is there any rule regarding to the massive gap-up of yesterday?

no. other than short-term pullback, long term good kind of stuff. but as you can see, nowadays people keep telling me don't ever say stuff like tomorrow is up or down, a day or two pullback, because it's useless for them, in stead one sentence everyday is enough: the trend is up or the trend is down. I should repeat this sentence and exactly the same sentence day by day so that I become the best blogger ever.

You should tell those people that you already have very clear trend signals: they're called the Cobra Impulse system for the intermediate term and the short term system for, well, the short term. If they don't want any more than that, then they shouldn't read your market update. I, for one, find both your trading and market updates enormously illuminating and valuable.

[stockcycle]

Cobra - if your target is still 1000, wouldn't that be a bear market? Thanks

I won't insist that target if I find more evidences.

Most of the arguments you listed up are already out of date, I think.

Cobra may adjust his mid-term target if market proves he need to. But I believe many traders participating in this forum profit a lot if he/she understand the short term TA he elaborates every day.

[99er]

Updates

Copper http://99ercharts.blogspot.com/2011/10/copper_2852.html
Crude http://99ercharts.blogspot.com/2011/10/crude_28.html

[noob]

Maybe we see some weakness before higher high? There's no reason the higher high will be today =)

[99er]

Updates

Gold http://99ercharts.blogspot.com/2011/10/gold_28.html
Silver http://99ercharts.blogspot.com/2011/10/silver_28.html
30-Year http://99ercharts.blogspot.com/2011/10/30y_28.html

[GreedyKojiro]

Cobra - if your target is still 1000, wouldn't that be a bear market? Thanks

I won't insist that target if I find more evidences.

Most of the arguments you listed up are already out of date, I think.

Cobra may adjust his mid-term target if market proves he need to. But I believe many traders participating in this forum profit a lot if he/she understand the short term TA he elaborates every day.

Indeed! Took me 6 months to gain 30% when I was doing on my own and took 3 months to gain additional 60% when I started reading his blog... I need 10% more to complete my 100% return for the year

[Al_Dente]

PAGING L_T
Thanks 4 yr gold chart …Here is jing u can see, from yest FCX percentage compare thread
http://screencast.com/t/lr4Yhlht
PS: am always lacking solid dirt on gold. Schwab research doesn’t chatter on any ETFs or commodities, and I don’t like to focus on solo gold miners, so I use FCX as a kind of metals proxy. U find solid gold links (no conspiracy theory), I will luv u… also, I luv FCX today….for another minute/hour