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Thanks. Yes, once it pulled back slightly and then broke the open and Cobra gave the up day report, then I should have jumped in. As you said, I like bigger pullbacks first....Shaishen wrote:I think it's hard for every intraday trader. Small dip at the open and straight up. Where to hop on?te_fern wrote:This type of day is hard for me to trade. Feel like I missed the entry point.....
only possible entry point - hindsight - was at the "zipper" formation a touch above day mid at around 10:25 to 10:30 ET (Bar 11 and 12 in Dr Brooks terms) at ~2766.5 ES June. Tick was trending down at that time ..
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cup handle target met 2770. felt 2730 was line in sand, bull it shall continue a bit more. eventually to meander into a bear flag where new highs will suck in the remainder of those left behind and it will be time to sell in my opinion...buffett is mostly cash, he always a bit early...Trades with cats wrote:Pretzel Charts calling SPX 2790 the line in the sand.
But it is a Friday before a triple witch and the big boys must still be on the hook for insurance options bought by the funds. I am a skeptic that anything in this reduced volume market isn't being influenced by the big trading houses until a week from Monday.
thanks boss, that's good stuffTrades with cats wrote: Primary objective of buybacks is to maximize the insiders stock incentive pay for hitting targets. So the incentives are not the same as for speculators or investors which explains why corporations were deploying borrowed money when professional management companies (and Uncle Warren) were raising cash. We know this won't end well because they did a similar version of this game prior to 1929 and afterwards Congress outlawed the practice. It was Clinton or Bush who opened the door back up. After all its different this time!