Cobra's Market View

RUT
That's some wiener bounce.
http://99ercharts.blogspot.com/2011/06/rut_09.html

soku wrote:market is pretty quiet now. with a contraction like this, i think there might be a big wave coming.
i am a scalper. my big wave by definition = 5 points ish.

my hit & run model works fine. today all dip are small and quick. is the bear party over?
kena, ride the trend. i think 1320 too. we still have 30 points to go.

Cletus: I guess we made similar UNG measurements: 11.91 = support.
I am ready to short again at 12.21 with 1/2 puts position.

a little bigger picture, so far goes as planned, the very first resistance is the red line.

cobra, still think todays lows will be revisited, I think you mentioned it's almost guaranteed, still think so?

Cobra wrote:a little bigger picture, so far goes as planned, the very first resistance is the red line.

could possible be forming an IHS.

The cycle timing shows a short between 1:15pm and 2:30pm has worked nicely lately.

Will this time be different? (Hint: Keep an eye on the VIX)

Hi Cobra & Gang,
I have been reading your posts for a while now. This is one of the finest TA forum I have come across.
Great job everyone.
I am not a day trader nor I know much about TA.
My methods are more fundamental mixed with demographic analysis and money flow.I also look at various cycles. Please read my latest post and give your comments:
http://bbfinance.blogspot.com/
I look forward to learn a lot from you guys.

alvian33 wrote:cobra, still think todays lows will be revisited, I think you mentioned it's almost guaranteed, still think so?

yesterday's low will be revisited, very likely. May take a few days, some cases even weeks of course.

so far goes as planned. the only thing would make me abandon my plan is a DECISIVELY breakout the day's high. bulls need show some strength here.

I'm not taking a short trade in crude right now, but I would put it at "high warning" zone of a reversal around this area. I'm waiting to short till a cycle next week.

In my humble opinion S&P 1295 and Nasd 2710 need to be decisively broken to the upside for the rally to take hold today.

lunch time. a follow-through to this red bar would be bad, but until bears are able to make an intraday lower low, still the trend is up.

cletus wrote:I'm not taking a short trade in crude right now, but I would put it at "high warning" zone of a reversal around this area. I'm waiting to short till a cycle next week.

I am tempted to do it. But I am waiting for some confirmation. I'll post it if I get it.

I am very suspicious that the overnight flash crash in natural gas was essentially a communication of a pullback level, so UNG should still drop for aways lower, but not much, at least on this first leg down.

UNG seems like a dog that is destined for zero. Do you really think the Bush family and their oil connections will allow natural gas to flourish? lol

Dear Cobra, Do you still believe yesterday's low should be revisited? Thanks

cletus wrote:I am very suspicious that the overnight flash crash in natural gas was essentially a communication of a pullback level, so UNG should still drop for aways lower, but not much, at least on this first leg down.

UNG seems like a dog that is destined for zero. Do you really think the Bush family and their oil connections will allow natural gas to flourish? lol

NG is cheap energy, cheap is key word.

Miangua wrote:Dear Cobra, Do you still believe yesterday's low should be revisited? Thanks

scroll up

"yesterday's low will be revisited, very likely. May take a few days, some cases even weeks of course."

goes as planed, this L1 is not a good sign, hopefully it's just a false alarm.

Cobra wrote:goes as planed, this L1 is not a good sign, hopefully it's just a false alarm.

Hi Cobra, still new here. What do you mean by L1, H3, etc? Leg 1? TIA.