Cobra's Market View

Unique wrote:If 121 still doesn't hold then we gonna get 120.5 gap fill

I'm laughing at all the retailers thinking we would break 1230 in one run without taking a breather.

Time to BTFD again at support. Usually gap fills bounce a bit

BullBear52x wrote:Side ways action is still in tack, so buy lo sell hi still active.

killjoy

crude is bullish on 15m chart. anyone watching? shit shit shit, run shorts run. It needs to pass $87.15 to confirm trend change for crude.

Lunchtime crowd is back out East. Rally for a bit perhaps?

Update, I missed the gap support.

tdo722 wrote:crude is bullish on 15m chart. anyone watching? shit shit shit, run shorts run. It needs to pass $87.15 to confirm trend change for crude.

i bought a couple at 85.9, trendline support on hourly + 15min just sold one near 87. looks like a big bear flag to me but crude is known to crush shorts so i am holding a tad longer. if we don't take out 87.15 soon i am selling.

MrMiyagi wrote:Lunchtime crowd is back out East. Rally for a bit perhaps?

Bull used to have lunch attack. but seldom see it now. It's in "Bull" market. Ha-Ha-ha.

BullBear52x wrote:

Al_Dente wrote:

BullBear52x wrote:Don't want to jink the party

Just 4 fun?? they know difference between koala and polar and grizzly better than I do !

OK you make me

OMG !!!!! u have just made our day here
Kids shrieking “..…bear come back, Gandhi…..big bear come back…..”
(grandkids call me Gandhi as they had hard time early on with grand….graa…gannn…)
me: “how bear sound?”…. kids claw hands: “grrrrrrrrrrrr” (then dog gets into the act; mayhem ensues)
They r learning 2 read better on Cobra’s board !!!

MrMiyagi wrote:Lunchtime crowd is back out East. Rally for a bit perhaps?

could bounce to exite the bulls and shake some weak hand bears but anu rally will be sold and failed because we don't even have a base for this decline yet
bottom line, seller still in control clearly so far
this is an hourly chart in one of the dealer, the decline is not over yet

MrMiyagi wrote:

rhight wrote:Interesting candlesticks on the 5 min. (A little closer than I'm used to looking)
Price sliced through the 9 day minor trendline with out pause. Volume is light though. May retest 1225 later this week, but a minor trend reversal looks like it may be in process.

What are your thought about S&P returning to 1130 level.

It would be in keeping with the current proportions and volatility of the market if we did return to 1130 on the next minor down swing, and find support there. If we find support and turn at 1150 or 1170, then that would have to be interpreted as more bullish in the intermediate term. IMHO

Using a 23.8% retrace which is the minimum I would expect, we should see 1188.93 38.2% would be 1167.35. Note my core positions are swing trades not trying to day trade the minor moves.

Update

SPX http://99ercharts.blogspot.com/2011/10/spx_6374.html

Are we there yet?

agnosia wrote:

tdo722 wrote:crude is bullish on 15m chart. anyone watching? shit shit shit, run shorts run. It needs to pass $87.15 to confirm trend change for crude.

i bought a couple at 85.9, trendline support on hourly + 15min just sold one near 87. looks like a big bear flag to me but crude is known to crush shorts so i am holding a tad longer. if we don't take out 87.15 soon i am selling.

Looks like the trend down continues. Wee. Damn scared the hell out of me crude. Stay down and be that way.

silicon_beaver wrote:pending sell order of FAZ at 55.5

Bingo. Done. no FAZ position any more.

tdo722 wrote:
Looks like the trend down continues. Wee. Damn scared the hell out of me crude. Stay down and be that way.

i got my stop at 86.39... crude is not down yet ... if we break 86.10, looking to short for gap fill at 85.57

damnit, looks like JBTFD don't apply on support today. Time to put my bear hat on again.

The trend is your friend. GIMME THAT 120.3->120 NOW!

Looking on 1hr chart, that move up was just part of the 3 falling candles pattern so it was expected. I hope it breaks $85.89 to confirm my belief in shorts.

tell me the truth only !!!


WHO is BUYING the DIP at this POINT ????

You wanna trade against this wave !!! I think if a trader can't take advantage from a wave like this or a day like this, then he should think again about his overall trading performance, but this is just my personal view
this is Russell futures contract 5 minutes chart

EvilTrader wrote:tell me the truth only !!
WHO is BUYING the DIP at this POINT ????

Bought a handful of TNA.