Cobra's Market View

Paging cougar:
Cool, now I have something new to watch to figure out WTF yr doing
Soooo, net-ish = sorta sorta -$1
Short expires on the 9th
Leaving you bear meat <125
??? am i on the right track??? (remember geezer here)

In with a small position of SPY PUTS to hold over. Now lets see. (Boy its crazy to be a trader.)

KENA wrote:I think the mkt may be in trouble..We can't break yesterdays hi or todays hi but we have 25 min to go so lets see.

The market's in trouble just because we had a down day?

well, guess that's it for today. very typical post MAD day pattern, nothing interesting. thank you guys, I'll see you tomorrow.

This is not a bull market, this is not a bear market. Although when I asked my daughter with crayons to tell me if it was going up or down she drew a line up and then down and then up and then down. I suppose tonight it will be up again, but tomorrow it may be down.

Petsamo wrote:

KENA wrote:I think the mkt may be in trouble..We can't break yesterdays hi or todays hi but we have 25 min to go so lets see.

The market's in trouble just because we had a down day?

No..Because the mkt could not break out.

Thanks Cobra and everyone.

as expected so far.

I was way off target on the closing bell call..... too little sleep..

2.64 million last buy on SPY. Someone thinks we gap up tomorrow.

bushwaffle wrote:

CMT wrote:

KENA wrote:Anyone belive we may be starting the 5th wave dn..Right now it is looking like it.

I'm a believer, it would play out to perfectly but that of course scares me as well... at least not to many people are talking about it!

When you wave guys refer to a particular "wave", is there always an understood and implied time frame? Day, week, month.....??

No and that is why it is easy to get caught front running. In the end it always gets there one way or another.

BullBear52x wrote:Thanks Cobra and everyone.

as expected so far.

Ya..Thanks BB52x

bushwaffle wrote:

CMT wrote:

KENA wrote:Anyone belive we may be starting the 5th wave dn..Right now it is looking like it.

I'm a believer, it would play out to perfectly but that of course scares me as well... at least not to many people are talking about it!

When you wave guys refer to a particular "wave", is there always an understood and implied time frame? Day, week, month.....??

In my opinion. No. I put everything into channels and triangles and however long it takes to reach the lines is however long it takes.

Markets don't extend volatility over long periods of time like this in bull markets. It's easy to say in 12 months that the prev 12 months was a bear market when indices are down net large %'s

SB73 wrote:This is not a bull market, this is not a bear market. Although when I asked my daughter with crayons to tell me if it was going up or down she drew a line up and then down and then up and then down. I suppose tonight it will be up again, but tomorrow it may be down.

KENA wrote:

Petsamo wrote:

KENA wrote:I think the mkt may be in trouble..We can't break yesterdays hi or todays hi but we have 25 min to go so lets see.

The market's in trouble just because we had a down day?

No..Because the mkt could not break out.

Remember the line...Consolidation is Bullish?

Basically often market doesn't feel like bear market when we are in bear market because squeezes and up days can be violently larger than up days in bull market. But 12 months later, it is clear, it was bear market

told ya. this is worst case scenario. stuck in a small range of 1242-1248.
hope nfp will bring some movement

SPX : sideways means more upside

I think that we could have either a Triangle or an Ending Diagonal

Given that NFP will be realesed before the opening maybe the ED seems more likely

Gap down at open and higher after is what I see reflected in the wax.

Buckethead wrote:Markets don't extend volatility over long periods of time like this in bull markets. It's easy to say in 12 months that the prev 12 months was a bear market when indices are down net large %'s

SB73 wrote:This is not a bull market, this is not a bear market. Although when I asked my daughter with crayons to tell me if it was going up or down she drew a line up and then down and then up and then down. I suppose tonight it will be up again, but tomorrow it may be down.

Really?

So how do explain 1998 and 1999? That wasn't a Bull Market while the VIX was above 30?

Al_Dente wrote:Paging cougar:
Cool, now I have something new to watch to figure out WTF yr doing
Soooo, net-ish = sorta sorta -$1
Short expires on the 9th
Leaving you bear meat <125
??? am i on the right track??? (remember geezer here)

Yes, you are...