Cobra's Market View

Cobra wrote:the open. by the way, I wonder how many of you still remember what I said yesterday before the close? Even I had a doubt above what I said: 2 3 push up so at least a weakness this morning. Let's take this chance to remember, the chart pattern more likely to continue the next day even lots of things could happen overnight.

yes i remember. very good analysis.

lilitulip wrote:

Cobra wrote:the open. by the way, I wonder how many of you still remember what I said yesterday before the close? Even I had a doubt above what I said: 2 3 push up so at least a weakness this morning. Let's take this chance to remember, the chart pattern more likely to continue the next day even lots of things could happen overnight.

yes i remember. very good analysis.

so you wouldnt btfd at 1233?

This chart is kind of helpful:

still no decisive breakdown, so nothing new to add, let's wait and see. bulls need pray of course as now bears got the ball and attacking...

AK84 wrote:

lilitulip wrote:

Cobra wrote:the open. by the way, I wonder how many of you still remember what I said yesterday before the close? Even I had a doubt above what I said: 2 3 push up so at least a weakness this morning. Let's take this chance to remember, the chart pattern more likely to continue the next day even lots of things could happen overnight.

yes i remember. very good analysis.

so you wouldnt btfd at 1233?

what is btfd?

Gold
http://99ercharts.blogspot.com/2011/08/gold_04.html

Incredible.

i still believe 1235 is the bottom for next couple hours. anything below is just overshooting.

AK84 wrote:

BullBear52x wrote:GM,
sell first ask question later, lost my breakfast money going long

maybe u need to diet ?

just joking obviously!!

I thought I was careful enough to go counter trend, as usual....I am amazed why people love counter trend trade so much. I broke my rule by holding my gain over night now turn to a lost.

Update:

soku wrote:i still believe 1235 is the bottom for next couple hours. anything below is just overshooting.

I agree.

Cobra wrote:still no decisive breakdown, so nothing new to add, let's wait and see. bulls need pray of course as now bears got the ball and attacking...

i got in long position... ma mi ma mi hong~~ may force be with bulls~~ :( :o :shock: :? :cry:

Silver
Update.
http://99ercharts.blogspot.com/2011/08/silver_04.html

lilitulip wrote: what is btfd?

Buy the dip

soku wrote:i still believe 1235 is the bottom for next couple hours. anything below is just overshooting.

Agree. I covered my remaining shorts at the close, yesterday, and this morning I opened a long position at 1240 on the S&P. If we break below yesterday's low, I'm out.

lilitulip wrote:

AK84 wrote:

lilitulip wrote:

Cobra wrote:the open. by the way, I wonder how many of you still remember what I said yesterday before the close? Even I had a doubt above what I said: 2 3 push up so at least a weakness this morning. Let's take this chance to remember, the chart pattern more likely to continue the next day even lots of things could happen overnight.

yes i remember. very good analysis.

so you wouldnt btfd at 1233?

what is btfd?

http://www.youtube.com/watch?v=jllJ-HeErjU

Crude
http://99ercharts.blogspot.com/2011/08/crude_04.html

About time.

Wow, days still young but 90% of traders including myself had thought we'd have at least some follow through rally after yesterdays candle. Not! Unbelievable. I got into a few long positions yesterday just to play some bounce, got burned this morning. From now on, I'll only trade in the direction of the SI Indicator -- if only I get a chance. Give me some bounce and I'll short. 9 day in a row lower, come on! http://wp.me/p1jbrN-bb

ouch. ITALY BREAKS: Entire FTSE MIB Is Now Suspended

our market is next ... not looking too healthy.

load up small lots of short etfs, sleep better with it these day

ITALY BREAKS: Entire FTSE MIB Is Now Suspended