Cobra's Market View

Petsamo wrote:3 days in a row we rallied on a gap down. You guys suppose we gap down again tomorrow?

I do think it's a down day....I don't have enough waves down and this looked like a corrective wave and I had a big reason to short at 136.12. I don't know if we have another whole leg down required (if they don't break it) or if we just need a new low to complete this wave. The answer changes everything in EW terms. But under 1340 SPX is a point a lot of people have to be looking at.

I nodded out at the low for about 12 minutes and was NOT happy....in fact i was Dopey. So I had s short position on that was looking good and I still have it. So my opinion might be biased. Oh hell, it is biased. The question is if the wave count works....LOL

Cobra wrote:

Petsamo wrote:3 days in a row we rallied on a gap down. You guys suppose we gap down again tomorrow?

Let me repeat what I said last nigh:

I know to trade this market now requires some imagination on either upside or downside...

You might need to ponder this 1960s cult classic "White Rabbit"


http://www.youtube.com/watch?v=WANNqr-vcx0

BTW, age and drug usage with alcohol has not made this woman age well! Chaz Bono's mom (for Mt MiYagi...LOL)

MrMiyagi wrote:

You see my confusion?

ROTFLMAO!

Will look for new avatar...."Wax on...wax off"

SWalsh wrote:

MrMiyagi wrote:

You see my confusion?

ROTFLMAO!

Will look for new avatar...."Wax on...wax off"

This is for ..... Matilda .....

alphahorn wrote:Looks like intermediate wave (4) completed today. Could see a nice gap and go tomorrow

I "think" (legal disclaimer as I do not predict big moves for others) that a stronger alternate count is that we finished wave 4 or a larger degree wave (2) today and we will drop through 1340 SPX and see who blinks.

The MACD had a major divergence on an hourly on Tuesday and I do not recall anything with that but a major bottom in the last year and we went almost 200 lower. The trend might be strongly down and all these rallies are nothing but computers trying to find vacuums and make something that no one else will do.

snakehead wrote:

SWalsh wrote:

MrMiyagi wrote:

You see my confusion?

ROTFLMAO!

Will look for new avatar...."Wax on...wax off"

This is for ..... Matilda .....

Ah...how nice...a Beretta 92FS Inox. That's a heavy carry gun. If I carried that I'd carry a high-end .45. Maybe a Kimber with an alloy lower to reduce some weight.

I read part of the screenplay on that once. The roof scene originally has her shooting people and in particular, a guy reading the paper on a bench. Also, Leon is teaching her to break into an apartment and when a guy asks what he's doing he kills him without any emotion and goes back to teaching. The movie made it a job to kill, the people deserved it, and that's it. If they had him as a sociopath/psychopath his caring for Matilda would have made no sense.

It's early, the Nasdaq 100 futures are already -7.75. I was predicting a gap down but this is ridiculous

Yes…maybe too much, but the Midnight Cowboy will correct it!
Also…AAPL (in the afternoon) was giving SELL signals:
[1] = 5 min
[2] = 3LB, 1min

Nibbled on some PLX at LOD!

This very original biotech has a fantastic production method…which is still in search of more “intelligent peptides”.
From the way the CEO talks, with his cards close to the vest, my feeling is that they are close to getting new ideas…

If ZNGA does not reverse here, it can fall to 7.3 -7.05

I am usually not impressed by THEIR algo-shmalgo. However, today Volpinacci detected something worth mentioning: a strange sequence of equidistant, very intense “activations” leading to “events” of equal amplitudes and periods, but with descending targets…and some other things...
Talked to a chum from the Old School -who is still in captivity- and he saw them too… for both of us reminiscent of the pre-Flash-Crash events…
Shoot! If true, my hedging has to be handled with great care! NO “automatic stops activation”!

Good night!
===============

Sorry…no graphic representations of this!

One more thing: our old friend REGN has a target/reversal in the 119 zone

This is for Cilvr, to answer yesterday's question. One small amendment: of course it's not the "dots" which show the validity of the ellipse, it's the horizontal and vertical lines behind the dots. Horizontal and vertical lines must be confirmed by former price action. Good confirmation of these lines increases the validity of the ellipse.

uempel wrote:This is for Cilvr, to answer yesterday's question. One small amendment: of course it's not the "dots" which show the validity of the ellipse, it's the horizontal and vertical lines behind the dots. Horizontal and vertical lines must be confirmed by former price action. Good confirmation of these lines increases the validity of the ellipse.

2.png

Thanks uempel for sharing, I am always fascinated how the economy Is subject to the same rules of nature as everything else