Cobra's Market View

SPX + 42 points for the day…

Panic buying~~

well, guess that's it for today. Monday has been mixed. thank you guys, I'll see you in another thread soon.

before the close, please take a little time to vote for me, thanks. https://stockcharts.com/public/1684859/tenpp

Parabolic up move. Wow.

The bull is back

Well, I finally got a little scalp at the end.

Last time we had action like this was October 2nd 2015. It gapped up huge the next day and just ran away for weeks. That's why I'm just gonna hold.

DellGriffith wrote:

ALdaytrade wrote:

DellGriffith wrote:The scary things for bears is that every wiggle could just set up another inverse head and shoulders all the way to spy 200.

Congratulations on your trade!

I am interested in why you chose to go long yesterday.

You said macd, on what time frame?

daily SPY. MACD bullish crosses are good. I have a system to eliminate all the "bad" crosses and its really strong. they dont happen very often but yesterday was one of them. You can't just trade every cross unfortunately. not that simple.

Thank you!

Entered a short during the day, so I am stuck. Hoping for a reversal, but can not discount opening much higher on Monday.

samw wrote:Parabolic up move. Wow.

Except XIV did not move as much as it usually does with a $SPX move like this. (4.5%)

Also, UVXY did not move as much as it usually does with a $SPX move like this. (-9.91%)

Don't know if anyone reads these posts after hours but I just decided to long XIV AH based on VIX MACD cross

http://stockcharts.com/h-sc/ui?s=VXX&p= ... 6562563263

From a trading sense view why would options move big when everyone and their cousin knew there was money going into the market. On top of that most of FAANG has been unlocked so Tim Cook now has billions of buyback money (as do Bezos and others) to deploy in a tactical manner.

Also, because it is the weekend, I think all these comparisons to past recessions are on shaky ground. The degree of central planning government intervention in the markets and the economy is on a level not seen before so we are in a different era.

Finally, I gotta say it, who in their right mind thought the Saudis would cut production so their "good buddies" the Iranians could steal their market share. I don't think Putin is in a position to subsidize OPEC and the US shale drillers either. When the dust settles we will see that it was traders doing what traders do, regularly, with crude. Into spring the big boys are finally admitting that we are more likely to hit 20 than 40 as world wide storage fills.

Have a good weekend!