Cobra's Market View

jarbo456 wrote:

janez wrote:Anyone holding shorts into tomorrow?

who's holding their longs overnight?

i'll probably sell half, and see if there's a dip tomorrow to buy into.

I'm hoping there's a dip and they don't play that bullshit gap up game like they did after thanksgiving.

Last 1/2 hour can always be tricky. I reduced my position at 3:30 and likely short a little for fun.

Update

EURUSD-ES http://99ercharts.blogspot.com/2011/12/eu-es_1194.html

What is wrong with this picture?

Edit: Zero Hedge

Once again, the momo and retail "traders" gets ripped off by the whales who take advantage of vacuum tube inspired momentum and retail bag holders praying for a few days that will make their year. From Goldman EOD market commentary: "Up, up, and away for stocks today. Europe gets the party going, and the music keeps playing for the US. The flow on our cash desk actually skewed to better selling – decent long-only selling (consumer staples and information technology) vs. small hedge fund buying (info tech and energy). ETF desk was better to buy, but only moderately so. SPX 1260 (200d) still the level to watch above – held twice in June, sliced through in August, been a consistent top in October, November, and December. SPX closes up 36 at 1241 (+2.98%)." And incidetnally as was noted here minutes ago, "Strange to see EURUSD and SPX decouple so sharply, but year-end brings funny things." Translation: thank you dumb money stock investors - without you the Putnams of the world would have nobody to sell to.

http://www.zerohedge.com/news/retail-fo ... ng-all-day

CognitiveDissonance wrote:

jarbo456 wrote:

janez wrote:Anyone holding shorts into tomorrow?

who's holding their longs overnight?

i'll probably sell half, and see if there's a dip tomorrow to buy into.

That's a good plan, I may do that as well. I'm in TNA

weighing NOT missing a choo choo train that may not look back over the next few days, and a freaky pattern of MADD, MDD, MADD, etc. etc. days

Cobra wrote:

stepture wrote:Hi Cobra,

I have a question for 4.9.1 TSX Long Term Trading Signals. What's the logic behind those color bars? I mean how do you determine when it becomes red, blue and green. I can follow it only if I understand it. It is a long term investment and I have to be careful. Many thanks.

http://stockcharts.com/school/doku.php? ... lse_system

Thanks a lot. Very appreciate.

Me XMan

SPX http://99ercharts.blogspot.com/2011/12/spx_8306.html

You win. But you lose because, like the Big Boyz, I cheat.

99er wrote:Update

EURUSD-ES http://99ercharts.blogspot.com/2011/12/eu-es_1194.html

What is wrong with this picture?

We don't need no stinkin' currency confirmation! BUY BUY BUY.

HAHAHAH

99er wrote:Me XMan

SPX http://99ercharts.blogspot.com/2011/12/spx_8306.html

You win. But you lose because, like the Big Boyz, I cheat.

Market could have a dip tomorrow and give it another go?

StrikePrice wrote:Last 1/2 hour can always be tricky. I reduced my position at 3:30 and likely short a little for fun.

99er wrote:Update

EURUSD-ES http://99ercharts.blogspot.com/2011/12/eu-es_1194.html

What is wrong with this picture?

Ooh, EUR/USD hasn't broken out yet. ES looks like a wolfe wave?

Just think about the thin volume today, would the bulls be short of fire tomorrow? They are far from exhaustion right now.

The market has been manipulated so many times by this "risk on and off" games, so I wouldn't turn into short position at least before this Friday.

99er wrote:Update

EURUSD-ES http://99ercharts.blogspot.com/2011/12/eu-es_1194.html

What is wrong with this picture?

missing Ski mask.

Well, we all know today's high is not going to be the top, cobra's wisdom. buying here is a safe bet as well but might not be the best price.

weird, double post.

99er wrote:Update

EURUSD-ES http://99ercharts.blogspot.com/2011/12/eu-es_1194.html

What is wrong with this picture?

Why don't you tell us?

So what were the stats for the next day when we have 7 green bars?

tdo722 wrote:Well, we all know today's high is not going to the the top, cobra's wisdom. buying here is a safe bet as well but might not be the best price.

Obviously better to look for a lower low and confirmation tomorrow rather than buying here.

tdo722 wrote:Well, we all know today's high is not going to be the top, cobra's wisdom. buying here is a safe bet as well but might not be the best price.

I don't think Cobra is buying here. He may buy at tomorrow's close if I read his style correctly.

This rally is unreal. The bears fought for 8 days to get it down to 1202. The bull sneezed 1 day and got 61.8% back. Then again, that's why cobra impulse system has an 80% winning for bulls and only 70% winning for bears.

jarbo456 wrote:

CognitiveDissonance wrote:

jarbo456 wrote:

janez wrote:Anyone holding shorts into tomorrow?

who's holding their longs overnight?

i'll probably sell half, and see if there's a dip tomorrow to buy into.

That's a good plan, I may do that as well. I'm in TNA

weighing NOT missing a choo choo train that may not look back over the next few days, and a freaky pattern of MADD, MDD, MADD, etc. etc. days

Yeah, I hear you. With the ECB launching its loan program to banks tomorrow I expect this rally to last through Friday. It's a good swing trade IMHO