Cobra's Market View

PAGING Baron von GlassSteagall

As if u needed more bear food or cockroaches
See big red circle, our banks diverge from DBV shaded behind
But Baron, I’ts been diverging for 5+ days….. who says it can’t go 6,7,8….
What good are these shite indicators/internals when all they know how to do is diverge.
This is getting ridiculous.
Oh, yea, I forgot, price rules, never mind…..

Lets ask mishka:
http://www.youtube.com/watch?NR=1&featu ... 650l7ZOOIQ

Yup, mishka says it’s still a flag at the moment….but….but…oy

Update:

looking ridiculously like yet another ascending triangle.

Al_Dente wrote:PAGING Baron von GlassSteagall

As if u needed more bear food or cockroaches
See big red circle, our banks diverge from DBV shaded behind
But Baron, I’ts been diverging for 5+ days….. who says it can’t go 6,7,8….
What good are these shite indicators/internals when all they know how to do is diverge.
This is getting ridiculous.
Oh, yea, I forgot, price rules, never mind…..

Lets ask mishka:
http://www.youtube.com/watch?NR=1&featu ... 650l7ZOOIQ

Yup, mishka says it’s still a flag at the moment….but….but…oy

here TRIN, see what you thin? selling is gaining some strength here

jarbo456 wrote:looking ridiculously like yet another ascending triangle.

where? this bounce looks more like a wedge to me. but so have the last few intra-day bounces. problem is --- the wedge never breaks and bulls continue to rule. resistance is AWOL. ridiculous.

Long-term view of $SPX. Not sure who on this board pointed to monitoring 13, 34 EMA crosses on the weekly for confirmation of trend. BUT 13EMA just crossed 34EMA positively.

Two, I have found the market is often effective at not confirming a signal until it has removed a lot of juice from a trade, for example by gapping above a resistance line.

Sometimes you learn more from a failed experiment than a successful one.

very worthwhile points. my approach is to trade 2 time frames (intra day and maybe 1-4 weeks depending).

very little is said about failures--soros like 'em and often failed several times setting up the major trade.

for those beginners considering this idea--the tricky part is separating your ego (need to be right) from the idea. this was hard for me for years. and still if i am tired or not focused can come into the picture. the key to the whole mess is if your stuff works 70-85% of the time--to think about this during so called problem trades so you can get rid of the pain--and get the lesson. no matter how bad the first loss is--if you can turn on a dime--that feeling will blow the first away. sadly it's best not to pay much attention to either feeling.

you can literally (sounds silly but try it if you are just starting out) ask your screen what are you trying to tell me? the question aligns you with the idea the market action is the key--and helps minimize your personal conceptual overlays.

the longer you are at this stuff--the less interesting it is to be right--and the more interesting it is to see what is going on. again if you are just starting take a bit of time to consider Mr. BachNut's point. his sentence is fairly short--but the idea is fairly large.

taggard wrote:

quatzl wrote:Regarding the Al Brooks' books. Does anyone know if the new books are covering the same ground as his first book? I have not read him yet and was wondering if I should pick up his first book or start with the recent books just published.

have not seen the new book spent a lot of time with the old one. the flaw with the first book is the density and layout. the ideas for the most part are there. best move (barring a review on this site) is to look at the chapters in both books. my sense is the new books have all the old and more--how much more is anyone's guess. whatever happens you will not go wrong reading al's stuff. but you have to be the sort of person who is into details and willing to work a bit--if in fact you are going to follow his basic idea--which is more or less "every price bar tells a story".

hint--consider the ideas he notes about "reading every bar" and "being in the market a lot" and "taking only the best trades is better". there is conflict here which you can resolve in a way which suits you best. (for example--in my case there is often a second move between 7-8 that lasts till 8-10. if i catch this i can take the rest of the day off. another idea--second entries in trends (not always the same as the 2nd move cobra notes) allows one to relax if that is to one's liking. and so on. eg ideally learn all's stuff first--then modify it to fit your needs/strengths and even daily preferences.

good luck--it's fun stuff.

Thanks for your input, taggard.

ClarkW wrote:Long-term view of $SPX. Not sure who on this board pointed to monitoring 13, 34 EMA crosses on the weekly for confirmation of trend. BUT 13EMA just crossed 34EMA positively.

so looks like the trend is up on this cross?

BlackThought wrote:Retail traders overt bullish and hedge funds are in cash.

How did you know this?

Update:

Per the cross, yes

johnnywa wrote:

ClarkW wrote:Long-term view of $SPX. Not sure who on this board pointed to monitoring 13, 34 EMA crosses on the weekly for confirmation of trend. BUT 13EMA just crossed 34EMA positively.

so looks like the trend is up on this cross?

BullBear52x wrote:

Al_Dente wrote:PAGING Baron von GlassSteagall

As if u needed more bear food or cockroaches
See big red circle, our banks diverge from DBV shaded behind
But Baron, I’ts been diverging for 5+ days….. who says it can’t go 6,7,8….
What good are these shite indicators/internals when all they know how to do is diverge.
This is getting ridiculous.
Oh, yea, I forgot, price rules, never mind…..

Lets ask mishka:
http://www.youtube.com/watch?NR=1&featu ... 650l7ZOOIQ

Yup, mishka says it’s still a flag at the moment….but….but…oy

here TRIN, see what you thin? selling is gaining some strength here

Oooh, I like this analysis. I'm gonna copy it. Thanks!

Thanks Clark

Update on Money Flow Index and Time Volume Accumulation study from last weekend.
Good news and bad news for bears. Good news is MFI may have peaked and TVA down and below moving average at the moment.
Bad news is TVA up from a low a few days ago. I give more weight to TVA in general, and the trend is not clear at the moment.
Bottom line is inconclusive.

FinancePhD wrote:

BlackThought wrote:Retail traders overt bullish and hedge funds are in cash.

How did you know this?

not to be interpreted as the bible...but just something to think about.

http://www.fool.com/investing/general/2 ... he-re.aspx

Again, I recommend the first book. You can read the preface on the link I posted.

Thanks for your input, taggard.[/quote]

Dear Bull:

You should be ashamed of yourself! It took you MORE than an hour to get the ES Back to breakeven. I expect better next time.

Shape Up!

Ben

waverider wrote:Again, I recommend the first book. You can read the preface on the link I posted.

Thanks for your input, taggard.

[/quote]

what do you see as the advantage?

speaking out of ignorance about the 2nd set (3 books)--my guess would be relative brevity--thanks in advance

ClarkW wrote:Long-term view of $SPX. Not sure who on this board pointed to monitoring 13, 34 EMA crosses on the weekly for confirmation of trend. BUT 13EMA just crossed 34EMA positively.

imo, the cross over need to be decisive. an existing example is the past summer also shown on the chart. from the 2 ema first touch to market eventually break out, it took about 2 months.
i think ma cross is more on trend confirmation side, rather than trade origination, especially the long term ma. 13 week = 1 quarter. i don't have the lux to wait for a q for a signal.