Cobra's Market View

viewer wrote:Cobra, this is the Momorial week. Should be bullish, right?

see my weekend report. should be next week strong.

Based on the Inv H&S bottom on the 15 min chart looks like a move to 133.50 is imminent. However needs to clear this am's high.

Cobra wrote:

isothermal wrote:SPY p/c ratio is 2.73 now. It was 1.3 yesterday around this time.

Does this mean we're going to see higher high tomorrow?

I noticed huge index call today. no idea what it means.

Thanks. Found this chart in your chartbook:
http://stockcharts.com/def/servlet/Favo ... 97]&disp=P

Judging by the first two indicators on the chart, it looks like we're near an intermediate term bottom, much like the one in middle March.

Cobra wrote:here comes the retest of the morning high finally.

I think that this “rampo” started too early in the afternoon. However, if THEY can keep it going and close above yesterday’s high (1323.72), it would confirm the solidity of the Sq. of 9 support posted this morning (~1315). An UP continuation tomorrow should be then expected.

Cletus, re: your comment on MMs buying calls

usually that is a bearish trade as MMs will not usually buy calls naked/outright but instead with delta against them. Those trades make money when the mkt sells off, not rally.

I have bought some preliminary puts on SLV and ZSL. But not big positions. Tomorrow will be bigger, especially if I see a reversal.

pablorynx wrote:Cletus, re: your comment on MMs buying calls

usually that is a bearish trade as MMs will not usually buy calls naked/outright but instead with delta against them. Those trades make money when the mkt sells off, not rally.

That sounds right. I stand corrected.

But I am somewhat bullish on the markets right now, so I don't know.

Cobra,

Will you be Long or short going into tomorrow? Bias for me is up. Thanks.

SPX MA55 at 1324.22, bulls will try to end the day above this level, as the 55 moving average is considered a mayor signal.

Hello from Slovenia, I am just testing

Rola

If bulls manage to break the DMA 55 at 1324.22 this market might have turned to the upside...

An AAPL a day
Keeps the Bernank away:
http://images.investorshub.advfn.com/im ... lnaapl.GIF

buy bots kicked in. maybe higher

measured move target.

more likely a consolidation or pullback here.

the bigger picture: what I was most afraid of for bears may turn out to be true - a 2 legged up from here.

Being short if the market closes above the DMA 55 is like wading through a river full of crocodiles ... DMA now at 3124.94.

Cobra wrote:the bigger picture: what I was most afraid of for bears may turn out to be true - a 2 legged up from here.

Do you think this a garantee that no further drop tomorrow?

gabor wrote:

Cobra wrote:the bigger picture: what I was most afraid of for bears may turn out to be true - a 2 legged up from here.

Do you think this a garantee that no further drop tomorrow?

Guarantee? Come on Gabor, no guarantees in life...

uempel wrote:

gabor wrote:

Cobra wrote:the bigger picture: what I was most afraid of for bears may turn out to be true - a 2 legged up from here.

Do you think this a garantee that no further drop tomorrow?

Guarantee? Come on Gabor, no guarantees in life...

death and taxes are the only exceptions