Cobra's Market View

I think, I definitely underestimated the strength of this bull market. It holds up quite well. Hopefully not too long.

the 3rd push is much weaker than I thought but still cannot exclude the possibility of the 3rd push ahead. wait and see.

yoku wrote:so quite today. not sure what is cobra doing.
again this market makes me uncomfortable. from 15 min chart, i cannot rule out a bullish flag. i am staying in short with stop remains at 1347.5

Well, volume is anemic, today. Laughable, actually. So, the market is easily moved by relatively smaller (than normal) positions. Don't be fooled. Still short, here.

BillyRipken wrote:

cletus wrote:

99er wrote:YM
That should do it.
http://99ercharts.blogspot.com/2011/05/ym_09.html

More upside to come

Can anyone reconcile Gabor and Cletus' comments on 99ers charts? I'm sensing different views.

Of course, noone knows anything for sure. I feel uncomfortable too, because I am in short position.

This looks like a second fail break out, One was last Friday. if fail here, gap down below 134.5 is to expect. thank you all, good luck trading.

Can anyone reconcile Gabor and Cletus' comments on 99ers charts?

No. For Bulls and Bears alike, there's only one right answer. And it's being fought over as we speak.

The MACD histogram appears to favor the Bears though.

anybody betting on earnings?
how do u like atvi? i bot my lottery

is everyone on this board short stocks?

Could the market gap up from here tomorrow?

Posting as I have been away from the board a few days.
Went a little long last week and then went to New Orleans Jazz Festival for a few days.
As of now, I am up just a bit and glad I was listening to music through the excitement late last week.
Healthy doses of Fed POMO tomorrow and Wednesday. Then, who knows. New schedule coming.
Market seems real mixed but slightly positive. Should be a shortable echo drop some time this week.

well, guess that's it for today. the chart pattern doesn't look bearish so could be the 3rd push up tomorrow morning but certainly bulls are not as strong as before at least the overnight's 16 points gap up attempt failed. let's see if it can manage another 16 points gap up tomorrow. thank you guys, I'll see you tomorrow.

Anaconda wrote:

yoku wrote:so quite today. not sure what is cobra doing.
again this market makes me uncomfortable. from 15 min chart, i cannot rule out a bullish flag. i am staying in short with stop remains at 1347.5

Well, volume is anemic, today. Laughable, actually. So, the market is easily moved by relatively smaller (than normal) positions. Don't be fooled. Still short, here.

in recent months, i have observed flat or below avg volume on rally quite often. i guess only bears need volume confirmation nowadays. i have a system on vsa and i abandon it last xmas. have to follow ben's rule to be a bear.

More upside to come.

SPX
Prices closed below the channel.
http://99ercharts.blogspot.com/2011/05/spx_6111.html
Follow through tomorrow.