Cobra's Market View

So honey...what's for lunch?
RUT http://99ercharts.blogspot.com/2011/08/rut_05.html

Rocky Mountain Oysters again?

I've just unloaded some hot stuff in my pants...

Cobra wrote:target reached, overshot, volume surge, hopefully a rebound of some kind here then should be another leg down at least judging by the selling strength.

now we have met the H&S target if we reverse and shoot up ( probably 0.01% chance ) ..... may be we will create inverted H&S and knock out the 1345 high

wow, if someone told you that the H&S Top target would be reached within 2 days, nobody would believe that but well, we're making the history.

They're saying it's 1130.

hdenandy wrote:I have the H&S bottom as around 1170 on the SPX.
I believe we're just about there.

Trying again - bought the Dow at 11162 at £10 per point.

Mustn't get greedy with this market !!
Sold my Dow call at 11296

130 points in 15 minutes or so.
That will do for now.

Cobra wrote:wow, if someone told you that the H&S Top target would be reached within 2 days, nobody would believe that but well, we're making the history.

Finally... target reached.... TA still works then..hope market will rest for a while...

rebound, indeed, and this probably the fastest bottom pattern we could have. Let's see.

Cobra Da: Still sell the bounce, right? Look for better point to enter Spy put, d u think ok?

hdenandy wrote:Mustn't get greedy with this market !!
Sold my Dow call at 11296

130 points in 15 minutes or so.
That will do for now.

Good one! I think we've seen the low for the day. But, the Cobra knows best. If we hit a lower low, I'm buying some calls into the new week.

Should have waited 5 minutes longer !!!
Oh well.

wow it took 1hr 35 mins to go from 120(approx) to 117 and in 15 mins we are back there

Cobra, awesome charts. I'll be spending time learning that TSX LT trading signals chart. Hope you continue to provide more knowledge on the TSX on these boards. I'm sure there's a sizable Canadian audience here.

Anybody consider buy XIV?

There is a nice (linear) channel going back to 2009 and SPX might have made a bottom at the lower edge.

this matrket is INSANE!!!!!
down 200 and then in 1 tick down 87 !!!! reound to down only 25
and now down 67!
WTFFFFFFFFFFFFFFFFF
i bet Day traders are getting chopped up too today

oldpigwang wrote:Cobra Da: Still sell the bounce, right? Look for better point to enter Spy put, d u think ok?

I don't know when to sell the bounce, depends on your time frame. you should know if there's any bounce, it cannot be small bounce. Check Oct 2008 for example.

fuddleduddle wrote:Cobra, awesome charts. I'll be spending time learning that TSX LT trading signals chart. Hope you continue to provide more knowledge on the TSX on these boards. I'm sure there's a sizable Canadian audience here.

yeah, I do do TSX analysis and share TSX trading signals, just not on this board or my blog yet.

i don't know how one would trade this market successfully. crazy crazy crazy.. cash is a position

could be a channel resistance. strong rebound but volume surge, so may consolidate a little here then one more try on the upside. I'll wait for a few bars before changing my evil plan...