Cobra's Market View

I think no QE3 - - message will be carefully given that amounts to.... you politicians need to get out of the kitchen and serve the folks in the dining room. I've held 'em off as long as I can!!

Cobra, Thanks for clarifying.

-varaamo

varaamo wrote:MajorEasy,
In what timeframes and instruments, does this BB settings work? 15 min /ES?
Thanks,
varaamo

MajorEasy wrote:yesterday 2 posters said that their stops were swept up by the big guys.
when the "generals" (big guys) do this, i call it "running the stops".
to deal with this common problem.... set "buy" traps or "sell" traps at bol band limits,(use BB settings 8,1.8)
you'll be rewarded....
then, trade only in the direction of the long term trend....
don't counter-trend trade....
don't be greedy a small scalp is always better than a stop-loss...

it works best from tick bars charts to 3 minute charts.
when the generals run the stops they take out as many retail traders as possible....
remember the market's goal is to distribute the wealth of the many to as few hands as possible...

PLUNGE wrote:Unless someone knows what Bernanke will say tomorrow, I will stay flat. If he hints at some form of QE3, there will be a pop upward. Any other language will cause an immediate continuation of the down trend in equities.

So what will he say?

He'll say: the economy is fine, inflation is temp, we'll take any action necessary to boost this economy.

Bulls seem to be playing inverted H&S on the 5mins...a bit late to work for today but pretty classic set up

the "generals" always know which direction they want to push the market....

wow thats one big candle on SPY

Cobra wrote:tinted area as text book target, i believe the red line will be challenged. Still find hard to believe the intraday weakness being bought again.

Do you attribute this to HFT? By the way, sold TZA awhile ago.

wow, nice popup, I bet everyone sees what I saw here: H&S bottom!

bull candle forming for suckers tomorrow

seekingknowledge wrote:

Cobra wrote:tinted area as text book target, i believe the red line will be challenged. Still find hard to believe the intraday weakness being bought again.

Do you attribute this to HFT? By the way, sold TZA awhile ago.

people are betting Ben will say something good tomorrow.

Cobra wrote:wow, nice popup, I bet everyone sees what I saw here: H&S bottom!

Thanks!

Cobra wrote:wow, nice popup, I bet everyone sees what I saw here: H&S bottom!

the shade is your target for the day cobra???

Update:

I see no QE3 either but what he says will be supportive, News due out as well in the morning before anything comes from jackson, hole. I have cycle tops not due till monday. I just find it hard to believe the tops in for this bear market rally. My problem is what they do over night because of the DAX crumble... Not sure but holding my longs in here I believe.

jarbo456 wrote:

Cobra wrote:wow, nice popup, I bet everyone sees what I saw here: H&S bottom!

the shade is your target for the day cobra???

text book target, if indeed breakout. H&S bottom target has 74% chances to be met if I remember correctly.

That's it for me today. Shorted the close yesterday and almost lost my shirt at the open this morning. I remember someone saying recently though that you have to be a little insane to make money in the market... I removed my stops and doubled the trade. Worked out. My charts still tell me down but I don't like the headline risk.

Trade: SDS Sept 17 Calls, IN @ 2.51 (average), OUT @ 3.20. Nice little bump.

Anyone holding overnight? I might make a small spec position, short.

OK..Enough testing of the 117 area.Lets get serious and close below 1157 spx.

Bulls need to work harder here since the gap up failed miserably this morning, down channel is one way to look at it.

jaaawf wrote:Bulls seem to be playing inverted H&S on the 5mins...a bit late to work for today but pretty classic set up

Sure, but maybe Bears. Maybe a lot of short covering for those who have been shorting the rips all week long. I don't imagine any trader wants to be too much to one side ahead of tomorrow.