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Thanks for the information! Good observations!xfradnex wrote:Cougar you always seem to find jewels. I found more info. http://online.wsj.com/article/SB1000142 ... d=yahoo_hs . I think this fall is probably pure manipulation. Also http://messages.finance.yahoo.com/Stock ... f=16&off=1. Notice the current exhaustion bars surpassing 2008 crash below (last chart). There was one more move down in 2008 after the highest Bar. Maybe the move on friday is it(not visable on first graph); see first chart. In after hours trading, the price is up on this newshttp://finance.yahoo.com/news/chesapeak ... 37592.html CHK going to the loan sharks.cougar wrote:Volpinacci got his BUY orders for CHK…and he is a serious BOT, with no sense of humor!
I agree, in my opinion price is involved in a large Zig Zag down with a potential target in the range 1293-1258SWalsh wrote:Most E-wavers have a strong propensity to not follow rules and are generally wrong. But with intervention, and what has to be a War Room to keep the bull going, highly reliable patterns have been repeatedly broken.sloth wrote:Seems like many E-wavers are calling this down move off 1400 level as a wave 4 and accordingly, a wave 5 should commence soon, last through the summer and take us to the election. This also fits the three peaks and domed house pattern, with point 23 (approx. 1576) coming up around last half of July 2012.
The central bankers continue to accommodate wall st., this will not change until after the election. The only real question is how low they allow the markets to drop before this wave 5 begins. My guess is this wave 4 ends once we dip to 1316-1333 range.
Then a blast off of 250 points to 1576 !!
I'm not in the "this is wave 4 camp" until the mkt proves it to be. My primary count believes that this is looking more like a complex correction wave 2, and a strong down wave 3 will follow and as most E-wavers missed the moves up they will miss the wave down. I'm not much positioned for it just yet, but I am looking for it. That's what traders do. Yes, BTFD has been workable because of the following article. But nature sometimes gets it's way! This market should never have seen SPX 1000 and our problems are now worse and there will be no recovery. Debt must be deleveraged....PERIOD!
Wondering why no one goes to jail and Wall Street is manipulated with approval by this criminal administration? Read on:
"Obama delivered heated rhetoric, but his actions signaled different
priorities. Had Obama wanted to strike real fear in the hearts of
bankers, he might have appointed former special prosecutor Patrick
Fitzgerald or some other fire-breather as his attorney general.
Instead, he chose Eric Holder, a former Clinton Justice official who,
after a career in government, joined the Washington office of
Covington & Burling, a top-tier law firm with an elite white-collar
defense unit. The move to Covington, and back to Justice, is an
example of Washington’s revolving-door ritual, which, for Holder, has
been lucrative–he pulled in $2.1 million as a Covington partner in
2008, and $2.5 million (including deferred compensation) when he left
the firm in 2009.
"Putting a Covington partner–he spent nearly a decade at the firm–in
charge of Justice may have sent a signal to the financial community,
whose marquee names are Covington clients. Goldman Sachs, JPMorgan
Chase, Citigroup, Bank of America, Wells Fargo, and Deutsche Bank are
among the institutions that pay for Covington’s legal advice, some of
it relating to matters before the Department of Justice. But Holder’s
was not the only face at Justice familiar to Covington clients. Lanny
Breuer, who had co-chaired the white-collar defense unit at Covington
with Holder, was chosen to head the criminal division at Obama’s
Justice. Two other Covington lawyers followed Holder into top
positions, and Holder’s principal deputy, James Cole, was recruited
from Bryan Cave LLP, another white-shoe firm with A-list finance
clients."
- Peter J. Boyer in his excellent recent article “Why Can’t Obama
Bring Wall Street to Justice?”
I agree with you TWT. Looks like a zig zag down, not a very deep correction this summer and test the highs by 1Q 2013 before we potentially get a much larger correction.TWT wrote:I agree, in my opinion price is involved in a large Zig Zag down with a potential target in the range 1293-1258SWalsh wrote:Most E-wavers have a strong propensity to not follow rules and are generally wrong. But with intervention, and what has to be a War Room to keep the bull going, highly reliable patterns have been repeatedly broken.sloth wrote:Seems like many E-wavers are calling this down move off 1400 level as a wave 4 and accordingly, a wave 5 should commence soon, last through the summer and take us to the election. This also fits the three peaks and domed house pattern, with point 23 (approx. 1576) coming up around last half of July 2012.
The central bankers continue to accommodate wall st., this will not change until after the election. The only real question is how low they allow the markets to drop before this wave 5 begins. My guess is this wave 4 ends once we dip to 1316-1333 range.
Then a blast off of 250 points to 1576 !!
I'm not in the "this is wave 4 camp" until the mkt proves it to be. My primary count believes that this is looking more like a complex correction wave 2, and a strong down wave 3 will follow and as most E-wavers missed the moves up they will miss the wave down. I'm not much positioned for it just yet, but I am looking for it. That's what traders do. Yes, BTFD has been workable because of the following article. But nature sometimes gets it's way! This market should never have seen SPX 1000 and our problems are now worse and there will be no recovery. Debt must be deleveraged....PERIOD!
Wondering why no one goes to jail and Wall Street is manipulated with approval by this criminal administration? Read on:
"Obama delivered heated rhetoric, but his actions signaled different
priorities. Had Obama wanted to strike real fear in the hearts of
bankers, he might have appointed former special prosecutor Patrick
Fitzgerald or some other fire-breather as his attorney general.
Instead, he chose Eric Holder, a former Clinton Justice official who,
after a career in government, joined the Washington office of
Covington & Burling, a top-tier law firm with an elite white-collar
defense unit. The move to Covington, and back to Justice, is an
example of Washington’s revolving-door ritual, which, for Holder, has
been lucrative–he pulled in $2.1 million as a Covington partner in
2008, and $2.5 million (including deferred compensation) when he left
the firm in 2009.
"Putting a Covington partner–he spent nearly a decade at the firm–in
charge of Justice may have sent a signal to the financial community,
whose marquee names are Covington clients. Goldman Sachs, JPMorgan
Chase, Citigroup, Bank of America, Wells Fargo, and Deutsche Bank are
among the institutions that pay for Covington’s legal advice, some of
it relating to matters before the Department of Justice. But Holder’s
was not the only face at Justice familiar to Covington clients. Lanny
Breuer, who had co-chaired the white-collar defense unit at Covington
with Holder, was chosen to head the criminal division at Obama’s
Justice. Two other Covington lawyers followed Holder into top
positions, and Holder’s principal deputy, James Cole, was recruited
from Bryan Cave LLP, another white-shoe firm with A-list finance
clients."
- Peter J. Boyer in his excellent recent article “Why Can’t Obama
Bring Wall Street to Justice?”
Below a few charts with my road map in different time frames: