Cobra's Market View

That P bar target was also reached..I'm beginning to belive in them

if this does end up being a huge end of day runup...that would've been a masterful bear trap that lay there set wide open ALL day long...crazy!

one possible target for the wave 5, I know wave guys wouldn't agree this is wave 5, because wave 4 looks exactly like wave 2, but let's see.

squeeze especially in LEN WM TSM
also starting in PG T CVX XOM AA HST GLW
haven't gotten to others yet
RED sticks will negate sqz

Daily Doji still in the card.

Turn out to be a very good GREEN day. LONGS have more teeth ahead. Going for higher high ! Power up !

What program are you using where you see a phantom bar....also what setting on what chart?

target reached. again, as long as bears can make a red day, it's bears victory day. let's see the last 30 min.

123 measurement = 1163, sup/res = 1164. we r about there. if long, time to put together exit plan.
again i will not hold position over weekend.

this market is insane, nothing matters, no european downgrade, no bad news, we just go up and up, unbelievable

chickencoop wrote:

Cobra wrote:the little bigger picture, as long as today could close in red, then it's bears victory.

That's because of today being NFP day? A turn is coming...

yes you remember well. bears 2nd choice is black bar today. so, so far, bears easy win today as long as they can hold the last 30 min.

As expected, all the bearish patterns failed yet again and we are now breaking back upwards.

The low earlier today was in fact a good time for trapped bears to get out of shorts, or to JBTFD.

We will be going back up into the 1200's.

In fact, we will get back to the 80 weekly SMA.

It is around there where I will flip and become a bear once more and start building short positions again.

Till then, I will remain a reluctant bull JBTFD.

BullTart wrote:As expected, all the bearish patterns failed yet again and we are now breaking back upwards.

The low earlier today was in fact a good time for trapped bears to get out of shorts, or to JBTFD.

We will be going back up into the 1200's.

In fact, we will get back to the 80 weekly SMA.

It is around there where I will flip and become a bear once more and start building short positions again.

Till then, I will remain a reluctant bull JBTFD.

Me too sexy beast

Cobra wrote:one possible target for the wave 5, I know wave guys wouldn't agree this is wave 5, because wave 4 looks exactly like wave 2, but let's see.

That projection would also fall close to the 50 DMA.

Cobra wrote:

chickencoop wrote:

Cobra wrote:the little bigger picture, as long as today could close in red, then it's bears victory.

That's because of today being NFP day? A turn is coming...

yes you remember well. bears 2nd choice is black bar today. so, so far, bears easy win today as long as they can hold the last 30 min.

soku wrote:123 measurement = 1163, sup/res = 1164. we r about there. if long, time to put together exit plan.
again i will not hold position over weekend.

Feel the power, smell 1175 to 1180 reachable today, will hold longs for next week.

cougar wrote:My swing trade:
* bought SPY Oct 22, 115 puts: progressively, as they were getting cheaper
* just finished selling (to open) SPY Oct 14, 115 puts on the way UP.
Average spread cost < $0.70

SPY 115 holding fine today...Time spread doing well...

Okay -- said I would post my TZA trade when done. I sold around 13:50. My entry was: 44.45 and sold at 46.79. Here is attached chart I was watching on the 5-minute. You'll see I drew black support/resistance lines. When we got to the bottom of the black trendline I have drawn with a note beneath it, I exited. Reasons: 2nd time it bounced here. Already made good profit. Knew it would probably try to get to the top of the trendline again (means losing money). I was watching to see about getting back in at the top of the trendline, but market clearly isn't cooperating with bears for a swing trade. Oh, well, intraday working works too. It's just much more stressful!

P.S. Wanted to get this uploaded faster, but saved to a .bmp and blog wouldn't let me attach. Wasted time trying to figure out what I did wrong and then had to export again! Aaargh.

biggest bar + volume surge, hopefully a pullback of some kind here. cannot believe bears cannot even hold for the last 30 min.

BullBear52x wrote:OK if you are a technician, you will not call this bullish do you? 1min here.

Bears hit & run. The finish determines if da bears won.