Cobra's Market View

maybe cause you said small up out of triangle???

There is no down, only up......
Look to the sky and you can't see the ground.

Obama is going to push a new stim package tonight.

ES up
NQ down
Not much movement ...

so far so good, this bull shall have legs. lunch time, will be back.

Cobra wrote:

Out of Bounds wrote:

Cobra wrote:breakout as expected, here's the text book target.

Why " " ?

I was not expect a big move up like that.

DIA 140.04... where was that p-bar at?

we're in the midst of QE4...no bear is safe.

DISTRACTION:

“a solid buy” signal ford F (fundamental analysis FA)
“Based on proprietary discounted cash flow analysis”
aka kool-aid
“catalysts include price appreciation…”
that’s fresh !
“Ford's [brand] loyalty is evident in the number of Twitter followers it has. F trumps GM followers by over 100K. “
aka WTF

http://seekingalpha.com/article/1174791 ... ource=feed

bottom line: follow your own charts

Kate Upton on cnbc next

DIA P-bar @ $140.22

Al_Dente wrote:from the Al Brooks School of 5 minute candle watching/ocd
[paraphrased]
“It’s either a trend candle or a doji. Period.”

oh dang, I forgot to vote today https://stockcharts.com/public/1684859

http://www.youtube.com/watch?v=m24uUzJgfwQ

yep. . .but food for thought here. Can we go past what brooks has said? I am just putting this out for thought not because it's some iron clad truth--but it's how i see things.

I's my contention that the book really has one core idea and everything else is fairly minor. the core idea is to be able to 'read" price action. in order to discuss this in detail brooks came up with numerous patterns and rules or at least guidelines. to me these are like using stats to describe stuff--he does a very good job--but the real key is the intuitive reading of price action which is hard to explain to someone in a book or who has not seen roughly 10k charts in detail and ideally more like 30k charts in detail.

as an example of what i am thrashing with here--consider those books they sell to clueless guys to figure out woman's "body language". they give concrete examples--since the whole point is to get the guy to stop thinking about himself or his ideas of whatever--and start considering the entity in front of him as--some how (wild i know) a self governing/entity/force and not some thought fragment of the dude's. by default the book is stuck dealing with very simplistic ideas partly due to the problems of trying to explain anything in text. but in truth why a woman does this or that is layered and complex. as an example--she crosses her legs towards me--so she thinks i am hot? opps--not even--sadly this was the only open seat and she slightly pulled a hamstring in yoga this morning and the stress of getting rid of me--causes her to tense up--so just taking pressure off the connective tissue-turns into an unfortunate missread. to nail that that you need to not only follow the rules but also note that she seems to be pulling a small spray container out of her purse--thus modifying the original "modeled buy signal" so there is the larger concept modified by a timely observation of a smaller move related to it.

in trading this is sort of a feeling you get trying to resolve chart action ambiguity--first you are confused--then comes clarity (or pepper spray) at that point we can take action.

in both examples i am trying to suggest the key is the idea we want to watch feel sense listen--to that which we have an interest in--and that is the idea i got from brooks that has the most value. i tend to break some of his rules (esp buying breakouts) but always tout the book blatantly and with total respect since you simply cannot read it without bumping into the truth. the exactness of the text forces the reader (at psychic gun point and under extreme duress) to actually look at charts in the correct way. that is the starting point to actually being aware of action.

all this is just riffing off an idea and is not meant to make any other point except that wiring price action is both rules and beyond rules.

FIRST TIME (maybe) EVER
C and BAC are at the TOP of my very-narrow-intraday-best-%-performer-watch-list
(besting FAS !!!)
WHAT IS GOING ON

Momo momentum is getting very weak at this high
And spy might say:
“who the shite cares”

nyadv is 1919

more on relative strength, pardon, I mean banks

kenttown wrote:DIA 140.04... where was that p-bar at?

2 cents away

Al_Dente wrote:Momo momentum is getting very weak at this high
And spy might say:
“who the shite cares”

My P&L (equities) cares it hit low of day as market hits highs. That's usually enough to have me start scaling out.

MrMiyagi wrote:

kenttown wrote:DIA 140.04... where was that p-bar at?

2 cents away

Any new P-bars today ? --- it seems we have not had any in a while.

Nrsimha wrote:Any new P-bars today ? --- it seems we have not had any in a while.

No nothing in the past couple of days.
Looks like Crude busted through 97$ resistance.

Al_Dente wrote:Momo momentum is getting very weak at this high
And spy might say:
“who the shite cares”

nyadv is 1919

Book it 1525 close,O.B. needs to hang his hat on something

FAS sitting outside BBand...