05/07/2012 Live Update

[Cobra]

text book target. As you can see, in most cases, I can call the market precisely no matter it's daily chart or 5 min chart (I'm very confident on this), but the question is can you profit from what I'm calling? I'll say not easy, right? That's the difference between a simple market report and a real trading. How you use my call? You have to find out yourself. I certainly have no answer. Different people have different answers for sure.

[CarlosDK]

Cobra -- I 100% find your calls best for everyone when you make the "arrows" on the chart intraday up and down. Thanks

[Cobra]

Cobra -- I 100% find your calls best for everyone when you make the "arrows" on the chart intraday up and down. Thanks

Thanks. as I just explained, how to use my call is a big question. You need time to figure that out. Not easy I know.

[snakehead]

text book target. As you can see, in most cases, I can call the market precisely no matter it's daily chart or 5 min chart (I'm very confident on this), but the question is can you profit from what I'm calling? I'll say not easy, right? That's the difference between a simple market report and a real trading. How you use my call? You have to find out yourself. I certainly have no answer. Different people have different answers for sure.

So, Cobra, was that a bearish ascending wedge (between the blue lines)? If so, since it has broken down do you expect an intermediate target way lower than the beginning of the wedge?

[Cobra]

I don't see urgency to sell yet, so I kindly feel the final move before the close is up. well hopefully because apparently I'm bullish biased today. let's see.

[Cobra]

text book target. As you can see, in most cases, I can call the market precisely no matter it's daily chart or 5 min chart (I'm very confident on this), but the question is can you profit from what I'm calling? I'll say not easy, right? That's the difference between a simple market report and a real trading. How you use my call? You have to find out yourself. I certainly have no answer. Different people have different answers for sure.

So, Cobra, was that a bearish ascending wedge (between the blue lines)? If so, since it has broken down do you expect an intermediate target way lower than the beginning of the wedge?

from my experiences, don't count on the bearish rising wedge target which should be at the lowest point of the day.

[BullBear52x]

last chart, yellow special.

[snakehead]

Are there any other people out there who feel like I do; that the market is hanging on by the skin of its teeth, ---- that every indicator is pointing down ... yet somehow, as they've done the last five or six times that we've been in this situation, that "they" will gap the market up hard tomorrow.

I feel like Charlie Brown trying to kick the football.
Maybe I should just say screw it and buy a ton of 3x bull nasdaq's.
(If ya can't beat 'em, join 'em ...)

[taggard]

Thanks. I just realized maybe I gave too detailed info in the Market Outlook

Cobra--i really think it's not you or what you are doing. worst case i can figure out in 2 reads. you are in a tricky position since you are trying to address all levels of training in trading. as well as a very diverse bunch of people using all sorts of different tools--IN DIFFERENT TIME FRAMES. This really places part of the load on the individual to adapt what he is getting from you to his time frame method and personality.

Further everyone is taught that more is better--work harder and you get ahead and so on. that you have to be smarter or better. amusingly one study showed Asian parents thought success in school was hard work. whereas USA parents felt things were IQ dependent. i have to go with the Asian parents on that one. But all the hard work in the world--if misdirected--will not save one.

If people simply choose small chunks of information and ace them--they can evolve to where they get the whole picture.

which brings in another Asian vs USA approach. The idea of asking questions vs simply repeating or working on what one was given. in (Asian) martial arts i was taught to do a kick 100k times before bothering the master with questions--and by then generally you had very few. in the USA we ask and challenge everything. obviously there are good points to both systems. But talking and doing are also very different.

As subscribers we need to respect the effort put out (esp given the moderate fees involved) already. Since the material is so consistent be sure we have tried hard to grasp it--then ask questions. But i think given the tendency towards consistency the answer will be found in the material (eg go back and look at the past if you think something was not clear--usually it is).

just an opinion good luck with the trades

[BullBear52x]

internals, really last one bye.

[snakehead]

internals, really last one bye.

I HATE long good-byes !!!

[Cobra]

you see H&S top here? let's see how break down goes first before giving up my "up" plan.

[MrMiyagi]

Are there any other people out there who feel like I do; that the market is hanging on by the skin of its teeth, ---- that every indicator is pointing down ..

Yep, I'd rather hold short ETFs long than long ETFs short.

[Cobra]

I believe here comes the final push up. if indeed, I made a perfect call today, every turn is right. let's see.

[taggard]

I can call the market precisely no matter it's daily chart or 5 min chart (I'm very confident on this), but the question is can you profit from what I'm calling? I'll say not easy, right? That's the difference between a simple market report and a real trading. How you use my call? You have to find out yourself. I certainly have no answer.

i find it hard (more work) to use market calls--but fairly easy to learn how somebody made them. once that learning is in place--i can use the method easily (less work). it's far harder to trade somebody's calls than it is to trade your own--so maybe the question is how to bend cobra's approach into ours. as opposed to just use the calls as such. when people start trading they often look to the "wise guys" but it is really hard to use the material esp after a few nice failures by either or both parties. amusingly this always seems to happen after a batch of successes such that you are leaning hard (trading size) on the trade when it blows up.

give a man a fish he eats for a day give him a fishing pole and he eats for life kind of thing.

[Cobra]

I can call the market precisely no matter it's daily chart or 5 min chart (I'm very confident on this), but the question is can you profit from what I'm calling? I'll say not easy, right? That's the difference between a simple market report and a real trading. How you use my call? You have to find out yourself. I certainly have no answer.

i find it hard (more work) to use market calls--but fairly easy to learn how somebody made them. once that learning is in place--i can use the method easily (less work). it's far harder to trade somebody's calls than it is to trade your own--so maybe the question is how to bend cobra's approach into ours. as opposed to just use the calls as such. when people start trading they often look to the "wise guys" but it is really hard to use the material esp after a few nice failures by either or both parties. amusingly this always seems to happen after a batch of successes such that you are leaning hard (trading size) on the trade when it blows up.

give a man a fish he eats for a day give him a fishing pole and he eats for life kind of thing.

Thanks, taggard, I agree.

[SWalsh]

My awesome case at Talk to Chuck Schwab.

I filled out an e-mail survey where I wrote that I'll not likely recommend them to others because their trading fees are not competitive relative to Scottrade & Fidelity. A representative called me. He said he'll lower my trading fees. This morning, I noticed my trading fee was lowered from 8.95 to 6.95, 5 cents lower than Scottrade's trading fees.
That's awesome, baby!

Okay....that will be a bartering point with my broker!

Thanks

[SWalsh]

text book target. As you can see, in most cases, I can call the market precisely no matter it's daily chart or 5 min chart (I'm very confident on this), but the question is can you profit from what I'm calling? I'll say not easy, right? That's the difference between a simple market report and a real trading. How you use my call? You have to find out yourself. I certainly have no answer. Different people have different answers for sure.

There are at least 1000 analysts on Wall Street who do not trade and ask themselves why they cannot do what they tell others to do. Good answers in Mark Douglas', "Trading in the Zone".

[Petsamo]

My awesome case at Talk to Chuck Schwab.

I filled out an e-mail survey where I wrote that I'll not likely recommend them to others because their trading fees are not competitive relative to Scottrade & Fidelity. A representative called me. He said he'll lower my trading fees. This morning, I noticed my trading fee was lowered from 8.95 to 6.95, 5 cents lower than Scottrade's trading fees.
That's awesome, baby!

Okay....that will be a bartering point with my broker!

Thanks

Last year, I knew this guy that negotiated a much lower trading fee with TD Ameritrade. TD Ameritrade use to be my second lowest priced broker. They became my most expensive. So I left them.

[Petsamo]

So who's placing bets for a gap up?