Cobra's Market View

Posted: **Thu Aug 18, 2011 11:21 am**

Me XMan wrote:Cramer...Cramer...

An on-air debate between CNBC's Jim Cramer and Simon Hobbs over European banks gets testy. Cramer said traders have to consider the possibility that this is a Lehman moment, and Hobbs cried foul, arguing that even the suggestion of a Lehman moment could cause markets to convulse. Hobbs to Cramer: "You told people to buy Bear Stearns!"

Cramer may be right some of the time..I just don't like his style.I turn him off when he comes on.

Posted: **Thu Aug 18, 2011 11:23 am**

15 min chart should be clearly a Bear Flag.

Posted: **Thu Aug 18, 2011 11:27 am**

what if we break to the upside, how far would be the target?

Posted: **Thu Aug 18, 2011 11:27 am**

trader0303 wrote:
soku wrote:
soku wrote:more reading of the market: es 1135-1145 area was the last heavily traded area. if bulls cannot hold here, we could see spike to at least 1110.
it seems to me, this reading is fine. es is forming a rectangle in 1135-1145 area at this moment.
any body sharing anything? your reading, your thoughts, your pick? story from last night? anything, everything.
Forming a wedge now? More downside on the way I think....

if u ignore the lower shadow to 1130 but connect to the close before that bar, and considering current movement, then it is roughly a rec.
sorry cannot post chart today. bear in mind, rec break out is way stronger than wedge. (i am a little bit wishfully thinking here)

Posted: **Thu Aug 18, 2011 11:29 am**

nonabear wrote:Cobra, do you consider this the first rebound or the 2nd rebound since the low right after 10:10 EST, with the first rebound stopping at 10:30 ESt...or was that too short

Thanks

1st rebound

Posted: **Thu Aug 18, 2011 11:37 am**

Updates

Copper http://99ercharts.blogspot.com/2011/08/copper_18.html
Crude http://99ercharts.blogspot.com/2011/08/crude_18.html

Posted: **Thu Aug 18, 2011 11:38 am**

Seeking more convincing support levels...

Posted: **Thu Aug 18, 2011 11:39 am**

Cobra wrote:
nonabear wrote:Cobra, do you consider this the first rebound or the 2nd rebound since the low right after 10:10 EST, with the first rebound stopping at 10:30 ESt...or was that too short

Thanks
1st rebound

Low is in for today?

Posted: **Thu Aug 18, 2011 11:39 am**

Updates

Gold http://99ercharts.blogspot.com/2011/08/gold_18.html
Silver http://99ercharts.blogspot.com/2011/08/silver_18.html

Posted: **Thu Aug 18, 2011 11:45 am**

So honey...what's for lunch?
AUDJPY http://99ercharts.blogspot.com/2011/08/audjpy_18.html

Blood sausages?

Posted: **Thu Aug 18, 2011 11:45 am**

Does this look like alternating Red then Green days again like last week?

Posted: **Thu Aug 18, 2011 11:46 am**

SPX 1050 is about right...

uempel wrote:Seeking more convincing support levels...
SPX8.png

Posted: **Thu Aug 18, 2011 11:51 am**

George H wrote:
Cobra wrote:
nonabear wrote:Cobra, do you consider this the first rebound or the 2nd rebound since the low right after 10:10 EST, with the first rebound stopping at 10:30 ESt...or was that too short

Thanks
1st rebound
Low is in for today?

unlikely, there're always exceptions though.

Posted: **Thu Aug 18, 2011 11:52 am**

99er wrote:So honey...what's for lunch?
AUDJPY http://99ercharts.blogspot.com/2011/08/audjpy_18.html

Blood sausages?

...made with Kangaroo meat and a Fosters to drink.

Posted: **Thu Aug 18, 2011 11:53 am**

So when do you want them?
SPX http://99ercharts.blogspot.com/2011/08/spx_8743.html

Oh...just about now.

Posted: **Thu Aug 18, 2011 11:55 am**

Next leg down coming... Look at ChiOsc.

Posted: **Thu Aug 18, 2011 11:58 am**

is it me or has this market been in slow motion for the past hour or so.. it's putting me to sleep. especially /cl, range of .20c

Posted: **Thu Aug 18, 2011 11:59 am**

Anaconda

All served by an Aussie surfer chick.

http://likespor.net/wp-content/uploads/ ... more-9.jpg

Or the World's number two...

http://resources3.news.com.au/images/20 ... gibbon.jpg

Posted: **Thu Aug 18, 2011 12:02 pm**

99er wrote:Anaconda

All served by an Aussie surfer chick.

http://likespor.net/wp-content/uploads/ ... more-9.jpg

Laavely, mate!

Posted: **Thu Aug 18, 2011 12:03 pm**

soku wrote:
soku wrote:more reading of the market: es 1135-1145 area was the last heavily traded area. if bulls cannot hold here, we could see spike to at least 1110.
it seems to me, this reading is fine. es is forming a rectangle in 1135-1145 area at this moment.
any body sharing anything? your reading, your thoughts, your pick? story from last night? anything, everything.

i have been waiting for a bo for ages. i don't think 1147.5 on es is real. we may have to wait for another while. if b-o to the upside, my target is still 1455.
so boring. i am keeping on requesting people to share. it seems ...

Cobra's Market View

08/18/2011 Intraday Watering

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