Cobra's Market View

knock wrote:looking for gap down monday! all your 401k money belong to goldman socks!

Japan, Hang Seng, & India sold off last night. They're gonna want to rally. This morning Europe rallied on their own, at the reluctance of US. I wish it would gap down because I made a mistake. This is where the hope strategy takes over. I hope we gap down.

Why obsession about gaps up or down ??

There are many trading hours daily.

This is utter crap. So many top indicators Cobra has identified. China looking worse and worse. Volume stinks, SPX up 6 days in a row, VIX under 15. Anaconda sees a PBar to 139 on SPY, although I don't see it nor did Mr. M confirm. I wouldn't be surprised if we fell further than that next week. Long TZA.

Al_Dente wrote:…
Does it make any sense? Are u married to IWMs?

Never marry an Index . The reason I do TA for IWM is that many of my setups work with TNA/TZA or EDZ/EDC (IWM analysis also applies to EEM/EDC/EDZ) and not with SPY. Idk, why? Never tried QQQ's, may be I should look at these in more detail.
This weekend I will analyze trading IWM when all three (VIX/RVX/XIV) are in agreement.

Have a nice evening and weekend!

12.15 Greece will hold an auction of three month debt next week in order to repay a €3.2bn bond that matures on August 20.

The auction, which could prove very expensive, will see the country sell €3.125bn of three-month T-bills on August 14


http://www.telegraph.co.uk/finance/debt ... -2012.html.
If this fails. There will be market fall out.

xfradnex wrote:12.15 Greece will hold an auction of three month debt next week in order to repay a €3.2bn bond that matures on August 20.

The auction, which could prove very expensive, will see the country sell €3.125bn of three-month T-bills on August 14


http://www.telegraph.co.uk/finance/debt ... -2012.html.
If this fails. There will be market fall out.

Well, then let's get to 1420 fast! How about Monday?

EvilTrader wrote:Why obsession about gaps up or down ??

There are many trading hours daily.

Agreed, but there was a study that 55% of the stock market gain over the past 10 years was on the gap up/down. I wish I can find that article, and I will post it. Having said that, if you're on the wrong side, you will get fleeced.

Bman69 wrote:This is utter crap. So many top indicators Cobra has identified. China looking worse and worse. Volume stinks, SPX up 6 days in a row, VIX under 15. Anaconda sees a PBar to 139 on SPY, although I don't see it nor did Mr. M confirm. I wouldn't be surprised if we fell further than that next week. Long TZA.

Why would you be short here? Nothing indicates a bearish top signal. TA is useless right now. Market has unwinded nice. I would only scale in a short (If I had to) at the multi-year highs..which we seems destined to reach.