Cobra's Market View

Update

ES http://99ercharts.blogspot.com/2012/01/es_7897.html

Thud.

Ah Al Dante:

I posted a Renko chart a while back which you really liked. That aside, I don't need to post a chart, I was merely making an observation. However, I will say this which justifies my bullish position but won't be worth a snot to anyone unless you have the information I have, through back-testing my signals/rules. I have been getting "trend starting" signals for the past few weeks on many bullish ETFs. I also got a signal on ZSL at around the same time (Nov 21st). According to my back-testing from 2000-present on a basket of more than 50 ETFs they are 63% profitable trades, profit factor of 5, win/loss ratio of about 3.0, annual return of about 17%, coefficient of 230%. All-in-all a pretty good system for trend-following. Thus why I am a bull right now.

BGU signaled on 12/23 and a failed trade would stop out around $56.09

Al_Dente wrote:

stlwater wrote:Sure are a lot of bears here. Oh well. That's what makes a market. Nice to be called a "bull-tard" though. I really like that.

Dear stlwater
Did you post a chart today? Or yesterday? Or the day before?

“I've learned that you shouldn't go through life with a catcher's mitt on both hands; you need to be able to throw something back.…” [Maya Angelou, Poet]

dcurban1 wrote:

stlwater wrote:Sure are a lot of bears here. Oh well. That's what makes a market. Nice to be called a "bull-tard" though. I really like that.

Not sure we are all bears. Very realistic here. Not up or down just what the data tells us.

Amen Trade the chart, leave the emotions at the door. "Be the market" , it has no emotions, just evilness

1 min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =250028427

Check out DJT, underperforming...INDU and SPX broke out of range on Jan 3, but DJT attempted and failed, sitting under resistance....

<<<Jan. 5, 2012, 12:19 p.m. EST

Mercedes-Benz sales jump 30% in December

By William Spain CHICAGO (MarketWatch) -- German carmaker Mercedes-Benz said Thursday it sold 28,006 vehicles in December, a jump of 30% from the same month a year ago. For the full year 2011, the company sold 264,460 vehicles. That is up 17.5% and represents the company's highest annual volume on record. The new C-Class, which the company said is "the gateway to the Mercedes-Benz brand for younger and first-time Mercedes-Benz buyers," was the volume leader last year, with an 18% increase in sales to 69,314 units.>>>

WHEN YOU SEE THIS KIND OF HEADING, YOU KNOW PEOPLE ARE MAKING MONEY !
RICH !

Al_Dente wrote:

cougar wrote:

waverider wrote:which one?

lol. Looks like we have to use the "ignor" button when noobs try to tell people who have been trading for years how to trade. Had to say it. Thanks for updates chartists.

"waverider": LOL! You are right!
On Tue 01/03 someone asked here:
"Is silver trying to make a run to test the high?”
to which I answered, hoping to be helpful:
“Probably not right now...It has to rest. Maybe later…”
and I showed a cart which - I thought - was illustrating my point…
But this was not the answer that our fellow was expecting. So, he got upset, arrogant and replied:
“rest shmest
That puppy (slv, agq) is trying to double top/new hi (intraday) at gap resistance”
But only 1hr and 10 min later, the same guy posted:
“silver underwater”.
...LOL! ...Funny?
Well...look what happened to SLV in the meantime…on the chart below…But I learned my lesson:
Never try to help an old lady cross the street, unless she really wants to!

Cougar, that fellow was me
SLV did indeed make a run for the high and failed one hour later
Sorry you thought I was arrogant and upset, i was watching it test the high on a five minute timeframe and it failed.
I apologize if my comments insulted you, they were not intended as an insult.[/quote]
Not arrogant? OK... No problem…
You know what? Since you are Irish and I have Scottish roots...next time, let’s forget about the “shmest” stuff and try Gaelic!

tdo722 wrote:So tempting to short XLF right here.

You wouldn't wanna short BAC

Any divergence up here? Or are we just building a base to go higher?

PAGING COUGAR
Yes, I am arrogant too.
But I still hope we can be friends….

tdo722 wrote:So tempting to short XLF right here.

Thank god, I didn't pull the trigger.

still shy of the target. looking good though.

Petsamo wrote:

tdo722 wrote:So tempting to short XLF right here.

You wouldn't wanna short BAC

Now I am pissed for selling the LONG scalp position too early. haha, greed!

NOW this is looking real. i didn't get the double bottom...but i got the revisit of the 20MA on the /ES.

target reached. should be more.

a little overshot, biggest bar and volume surge, so could be a consolidation here at least.

KBE near 200 EMA

BKX broke trendline resistance, while XLF broke horizontal resistance at $13.48.

Al_Dente wrote:PAGING COUGAR
Yes, I am arrogant too.
But I still hope we can be friends….

Yes, of course...
Watch those metals NOW! They got a second life..all at the same time..
I wonder: why?

Cobra wrote:a little overshot, biggest bar and volume surge, so could be a consolidation here at least.

consolidation above 1273 ES is my guess --- ES is currently playing the no red allowed game. I love it when 5 min vwap becomes support!