Cobra's Market View

agnosia wrote:

Cobra wrote:still no clue what the market is doing. chiosc is low again and the chart still looks like a bear flag breakdown so i'll assume more on the downside, just cannot explain chiosc will do here.

ok i am back from my nap.... cobra what is the measured move down from the bear flag? by my calculations it is 1322-((1340-1310)*.5)= 1307

is that how u calculate it as well?

cletus wrote:Come next week I guarantee you everyone who is short or in cash will have wished they took the opportunity to get long this week on this selling.

cletus wrote:Come next week I guarantee you everyone who is short or in cash will have wished they took the opportunity to get long this week on this selling.

gabor wrote:

uempel wrote: Anaconda, as far as I know it's just a phenomenon. I presume there is a scientific rationale, but I'm not aware of it (most indicators have a logical background).
For practical use it's an addition to channels - and of course it works on all time frames. An ellipse on a weekly or monthly chart offers strong support/resistance. Here a sample which shows the importance of where SPX is right now:

SPX6.png

The problem with channels and the ellipse is that many ellipses can be drawn. Some of them support the bullish while others support the bearish view. You can never be sure. Trading is an art rather than science, I agree. A warning fact is that even the most succesfull trader (father of market speculation) ever lived in the history failed in the end of his life. See Jesse Livermoore.

BullBear52x wrote:

cletus wrote:Come next week I guarantee you everyone who is short or in cash will have wished they took the opportunity to get long this week on this selling.

That is a very strong statement.

uempel wrote:

gabor wrote:

uempel wrote: Anaconda, as far as I know it's just a phenomenon. I presume there is a scientific rationale, but I'm not aware of it (most indicators have a logical background).
For practical use it's an addition to channels - and of course it works on all time frames. An ellipse on a weekly or monthly chart offers strong support/resistance. Here a sample which shows the importance of where SPX is right now:

SPX6.png

The problem with channels and the ellipse is that many ellipses can be drawn. Some of them support the bullish while others support the bearish view. You can never be sure. Trading is an art rather than science, I agree. A warning fact is that even the most succesfull trader (father of market speculation) ever lived in the history failed in the end of his life. See Jesse Livermoore.

Gabor, if you use channels and ellipses wisely and together with other indicators you won't have to end your life like JL! As to speculation - I guess the first speculators were sumerians and lived 5000 years ago. And the Chinese might have speculated even earlier - ask Cobra about the history of speculation in China!

Cobra wrote:
measured move.

agnosia wrote:

Cobra wrote:
measured move.

don't you multiply by .5 though? this according to bukowski's.

http://thepatternsite.com/flags.html

soku wrote:

agnosia wrote:

Cobra wrote:
measured move.

don't you multiply by .5 though? this according to bukowski's.

http://thepatternsite.com/flags.html

i always use his %.
i see 1306 strong support

uempel wrote:Bye guys, I'm hungry (no mice and frogs) and thirsty (I guess a beer).

StrikePrice wrote:Last 45 mins saw a big move up in TLT to retest today's high. Must keep an eye on this...