Cobra's Market View

I doubt we go much lower today, may be few more points....

Oops, Brain fart: What I'm I agreeing too???

1325

Wow, is it Friday yet? I need a weekend.

alvian33 wrote:I doubt we go much lower today, may be few more points....

Cobra,
is it necessary for us to retest 1305.xx again before uptrending or not?

99er wrote:Mr. T: "uempel's right: 1235"

Gee...and I thought I was bearish.

To get it right, I don't have a short position and I'm now waiting to see if SPX manages to climb back above a) 1317 and b) the hourly 33 MA which is approx. at 1330... And the target 1235 I mentioned is the target if this H&S gets triggered...

99er wrote:Mr. T: "uempel's right: 1235"

Gee...and I thought I was bearish.

Yes but lets get thru the 1300 area. We have very strong support/restance and we may have a hugh amount of dippers in this area and could lead to a fair up move.Lets see.

uempel: "And the target 1235 I mentioned is the target if this H&S gets triggered..."

Thanks for catching that. It's actually an impressive find!

At the moment it is a down day. Stocks are down. The long bond is down. The dollar is down. VIX is down.

Tabby wrote:

alvian33 wrote:I doubt we go much lower today, may be few more points....

Cobra,
is it necessary for us to retest 1305.xx again before uptrending or not?

I think I've answered the same question: no, it's not necessary, already did back test, not 3rd touch is ok.

The margin accounts out there is huge. Watch when margin calls coming in. Should be very interesting.
Unless Uncle Benny starting QE3 very soon...otherwise market is slowly bleeding away.

KENA wrote:

99er wrote:Mr. T: "uempel's right: 1235"

Gee...and I thought I was bearish.

Yes but lets get thru the 1300 area. We have very strong support/restance and we may have a hugh amount of dippers in this area and could lead to a fair up move.Lets see.

A strange Kabuki Drama is now enacted by Moody, the Congress and the White House.
The Market dances accordingly!

cougar: "A strange Kabuki Drama is now enacted"

I prefer Noh...silent actors!

LOL 99er!

Big Bear paw to the face!

Can Bulls recover? The pattern is looking like 5/25 again...charting it now.

ES
A closer look at that Bear Flag.
http://99ercharts.blogspot.com/2011/06/es_6612.html

Mr. T wrote:Yoku,

Those bears tried to make my gold chains!!! I sold them some gold colored chains at a premium...... the foo's!

You still long? Still kissing?

yo t,
considering the super long process to change name, i guess i will be soku for a little bit longer than expected.
this week is a perfect trader's market. swings are clean and clear and fast. i exit at 1315.25. plan to add some around 1310-1311.

soku wrote:

Mr. T wrote:Yoku,

Those bears tried to make my gold chains!!! I sold them some gold colored chains at a premium...... the foo's!

You still long? Still kissing?

yo t,
considering the super long process to change name, i guess i will be soku for a little bit longer than expected.
this week is a perfect trader's market. swings are clean and clear and fast. i exit at 1315.25. plan to add some around 1310-1311.

Soku,
You should've been Yoku today b/c it was up $2.71. I've been watching Dang and Yoku evreyday.

Here is an update on oil. It is moving along the projected path well but here is where I become neutral on it. You can clearly see a triangle or even a possible head & shoulders bottom on it. I can't discount anything here so I'm out of my short. Actually, I got out yesterday a bit too soon, but not regretting it. Look at that reversal. Just be careful if you're short crude. Wait for this path to take shape.

Key minutes going into 3pm. Why way will it break?

Tabby wrote:
Soku,
You should've been Yoku today b/c it was up $2.71. I've been watching Dang and Yoku evreyday.

lol can u guess why my id was yoku?
and i think u know soku is yoku's new product, right?

nothing to say. new channel but the bigger picture, this is a bear flag - just as bears wanted.