Cobra's Market View

BAC sub 9 ! 8.87... that is a huge stock and is bringing the market down..

SPX 1205 and dropping...

A bloody good lesson for dip buyers

well it's kinda sad, lot of folks are going to have a hard time because of this, like people retiring and stuff

no sign of bottom. I just hope the market could close now. what a bloody day. and to make things worse, a day like today, a lower SPX close is almost guaranteed.

Unload almost half of my VIXY. Started too early from 56.09, because I have been under water for too long.

wedge becomes channel, a renew selling pressure.

barbaragull wrote:A bloody good lesson for dip buyers

but over the last two years if u were a dip buyer like me you are way in the green and this last week is only a minor dent in the profits... that said, my mentality is changing to sell the rips.

i'm sure all the top callers over the last two year are still in the red even after this week.

davros wrote:well it's kinda sad, lot of folks are going to have a hard time because of this, like people retiring and stuff

IRA is nothing. Still a big rebound from the '09 low. What's more important is for people who trade for a living. I heard one hedge fund blew up today.

How can a hedge fund blow up?

pidge66 wrote:

davros wrote:well it's kinda sad, lot of folks are going to have a hard time because of this, like people retiring and stuff

IRA is nothing. Still a big rebound from the '09 low. What's more important is for people who trade for a living. I heard one hedge fund blew up today.

So much for precious metals being a safe haven. I feel truly sad for all the poor folks who've tried to find at least one safe place (in metals) to protect their assets. But, a look at 2008 and what happened to pm's then, tells an ugly tale; pm's went down like a lead balloon, along with every other asset. Why? Liquidity, liquidity, liquidity. Anyway, protect yourselves, Cobra-colleagues. Thanks as always for the good info and better trading tomorrow!

someone RING THE DAMN BELL ALREADY !!!

soku wrote:

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

apparently i am wrong. i see a weak support at 1220-1222 area for a shorter time frame.
as i mentioned yesterday, if we close below 1230 area, the next step will be around 1200

we r at 1198.5? so that it? no comments.
god bless america

well, I'm glad, at least the market is about to close. the bottom line, I don't see a clear bottom sign yet, the selling is still in acceleration, so don't try to stop it, a lower close ahead is almost guaranteed. Thank you guys, I'll see you tomorrow.

general speaking, new high for VIX,means what? more push down tomorrow?

agnosia wrote:

barbaragull wrote:A bloody good lesson for dip buyers

but over the last two years if u were a dip buyer like me you are way in the green and this last week is only a minor dent in the profits... that said, my mentality is changing to sell the rips.

i'm sure all the top callers over the last two year are still in the red even after this week.

well said. timing is important. follow the trend. be snake-ish.

wow looks like we are in the top 20 largest daily points losses in Dow Jones Industrial Average...

I'd like to think a new high on VIX means we're bottoming. But no chance in that.. momentum down is too strong. Possibly no meaningful rebound until Tuesday (if QE3 is announced).

shooker wrote:wow looks like we are in the top 20 largest daily points losses in Dow Jones Industrial Average...

dji: largest drop since dec 2008.
spx: largest drop since feb 2009.

we now back to nov 2010

rsp up 6% in AH... lol 47.60