Cobra's Market View

houston we have a problem.

OK..if this drop is real, 1141 is the next support.

bears are in control guys, don't buy the dip. 5min 20ema being sold...

...too close for comfort!

soku wrote:me on vacation. should not look at the market, but i did. i know i'm addicted.
1140 area shows some support. if cannot hold for mid-term, the next stop will be 1100.
me the perma bear, do u hear me roar.
good luck

/es is approaching my line at 1140. i still think it will hold here. bears may give another try later.

Fork pointing to 1153, Fib retracement at 1147, P&F shows support at about 1144...

No good.
Lets try again at 11014.

Highlight of the day are the banks.

Teleprompter speaks now.

descending triangle text book target.

i'm gonna buy some crude soon. think the bottom is in.. it;'s not falling with the market.

If the President does not provide serious and convincing hope ...we may see 1125 today

Just saw this on Twitter:

According to sentiment trader.com market as oversold as when Germany invaded France in 1940 and during Oct. 1987 crash.

I am not sure that is true, but it seems like it could be. I am seeing chart patterns I haven't seen before. The question is does it matter?

My Friday trade in PFF blew up. The downgrade, lawsuits and troubles in Europe are stressing the banks. If the banking system is slipping toward crisis, technicals won't matter. Like Jan. to March '09, the downtrend can relentlessly continue until the right kind and amount of intervention hits. That could happen at any moment or not.

Ugh.

i just wanted to qoute something i read in the weekend: "markets don't crash when stocks are overbought but when they're oversold".

agnosia wrote:i'm gonna buy some crude soon. think the bottom is in.. it;'s not falling with the market.

GL, but I wouldn't until it hits 80.

That being said, if we are gearing up for a huge leg down... deflation of all assets. We will have no choice but to go short

guys, in 20 minutes, I have to leave for airport to pick up my wife and daughter. I'll bring the laptop with me and try to update if I can. Today's Trading Signals report may be a little bit late but there'll be one and it shall be before AH closes. Market Outlook will be posted as usual.

obama on air, talking about US debt and Afganistan. i guess market will cool off for like half an hour or so

Cobra wrote:guys, in 20 minutes, I have to leave for airport to pick up my wife and daughter. I'll bring the laptop with me and try to update if I can. Today's Trading Signals report may be a little bit late but there'll be one and it shall be before AH closes. Market Outlook will be posted as usual.

Thanks for everything today Cobra. Have a safe drive. You're in Toronto right? Hopefully traffic won't be too bad.

still a little shy of target but I see volume picking up.

fuddleduddle wrote:

agnosia wrote:i'm gonna buy some crude soon. think the bottom is in.. it;'s not falling with the market.

GL, but I wouldn't until it hits 80.

That being said, if we are gearing up for a huge leg down... deflation of all assets. We will have no choice but to go short

well i think everyone is waiting for 80 to go long so we won't see it. i'm gonna trade against 82.52...

cobra you think we stil re test the neckline on the SP 5oo at 125?