Cobra's Market View

ramram wrote:To clarify more -- ES is the SP500 futures. I use the daily pivot.

BullBear52x wrote:

stucap wrote:

qtipped wrote:124.85 is my mental stop...it has to be taken out...didn't execute yet...just drifting....but i'm sure after i cover it will fall hard.

please cover take one for the team!

Yeah, take one for the team! this is so funny

uempel wrote:

Dow Trader wrote:another view in the daily chart

Ahh, I like 13. By the way, what kind of shades are you wearing, as far as I see they are ray-bans

trader0303 wrote:

ramram wrote:To clarify more -- ES is the SP500 futures. I use the daily pivot.

What day are you getting 1243 from?

Dutchy wrote:

xfradnex wrote:

Dutchy wrote:

xfradnex wrote:

Dutchy wrote:Hi Cobra, this morning you called the opening stretched and voiced the expectation of a pullback which happened as predicted.
What is your definition of stretched? Is it the absolute size of the gap or in relation to a previous pattern?

Thank you,
Dutchy

Look at MAs on his chart. if there a very large seperation between MAs and actual the lines, they will try to meet each other in the middle somewhere. From there, who knows. Most of the time this will happen on the open(when there has been a gap up or down) or when there has been big market news. In this mornings open, there was a gap; a good opertunity for a move for 15 minutes or more. Need to figure out what the S&P implied open is and translate that to a SPY, SSO, etc. be ready to pull trigger on very open.(GLTA). I need to do this myself(find a good place that gives a good implied opening value on the Web).

Thanks for explaining xfradnex. But wouldn't that imply that every opening is stretched by this criterium? The price action is always ahead of the MAs after all. Or is there a quantitative criterium for the separation?

Note that MA setting on this 1 minute chart. When the actual price from the Red line is double the distance between the Red and Blue, this would be a good opertunity to short. The more stretched the lines are apart the better the final outcome. Need to compare all the upward humps. I marked the best one, the opening. These are rules of thumb. Need to develop the eye to see these geometries. note the distances between the lines for most of the previous day as a measure for future price/MA movements and opertunities. .

Sorry, this is a little thread from yesterday's watering..

Thanks again xfradnex and Cobra for replying. I studied opening again but am no wiser. While it is true that at opening the gap between MA and price was largest for day, this would be true of every big gap. But not all big gaps are followed by a pullback. So I am maybe very thick but I still don't see how yesterday's opening was especially stretched or how a pullback could be implied in this case compared to any other gap up..

Me XMan wrote:I'm gonna short this sucker when it gets to $100.

proteus46 wrote:

GroupOn chart.png

A GroupOn chart, be careful

fibo618 wrote:Cobra,

Just curious how you rate the last couple of months in terms of diffculty of forecasts? Was 2010 better... I was seeing EW forums saying something similar...

thx

qtipped wrote:can someone tell me what kind of pattern we're in intraday...confused..