Cobra's Market View

SPX
Update.
http://99ercharts.blogspot.com/2011/06/spx_20.html
Don't know whether to go get popcorn...or more coffee.

99er wrote:SPX
Update.
http://99ercharts.blogspot.com/2011/06/spx_20.html
Don't know whether to go get popcorn...or more coffee.

We can't seem to get up to Fri. highs.If not then the least path of res. is down.

nothing to say, MA200 (red line) as initial resistance. the only problem is QQQ is weak, seldom a market could rally huge without QQQ.

since not much audience this morning so i have to risk my reputation here by making a wild-est-est-est guess: a usual bear case. Decisively breakout the morning high then the plan would be invalid of course.

GM, market is too weak, a new HOD will give bears another Neg D to sell.

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TRADE ALERT
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Sold IYR Sep 62 calls at 1.31 for +15% in 3 days.

If you have these be sure to put in a limit order close to the Ask. Slowly drop it until the market maker fills you. I take the Ask and drop it a penny every few minutes until I'm filled.

For ur 'wild-est-est-est guess', I bought Rut put here.

KENA wrote:

99er wrote:SPX
Update.
http://99ercharts.blogspot.com/2011/06/spx_20.html
Don't know whether to go get popcorn...or more coffee.

We can't seem to get up to Fri. highs.If not then the least path of res. is down.

Technicals and sentiment indicators, across the board, are screaming "buy the dip." There's $10 billion in POMO today. NASDAQ's high-flyers can't get up any steam. And STILL almost no buying volume... What does that tell you? Smells like a lot more downside coming to me, friends.

Good luck to all.
A

H1 Long at EMA20, let's see how far this rebound can go. A decisively breakout above the morning high, then bears are dead for today, otherwise my evil plan would still apply.

Anaconda wrote:
Technicals and sentiment indicators, across the board, are screaming "buy the dip." There's $10 billion in POMO today. NASDAQ's high-flyers can't get up any steam. And STILL almost no buying volume... What does that tell you? Smells like a lot more downside coming to me, friends.

Good luck to all.
A

More downside...yes, possibly some new lows this week since the rebound is weak. But "a lot of downside", I seriously doubt it. Greece is falling apart, deals are falling apart, and the market is up today. Since the Greece situation, the market is only down 100 handles and took several months and a massive increase in bearishness to get there. This doesn't seem all that bearish.

SPX
The popcorn can wait...
http://99ercharts.blogspot.com/2011/06/spx_4031.html
Need coffee just to stay awake.

Hey BullBear52x,

For UNG, what's the price range is good to buy? thanks.

Cobra, this week is still sell in rebound modell?

cc2265 wrote:Hey BullBear52x,

For UNG, what's the price range is good to buy? thanks.

I am buying now with tight stops, max stops out at 10.93, target 12ish.

Thanks.

BullBear52x wrote:

cc2265 wrote:Hey BullBear52x,

For UNG, what's the price range is good to buy? thanks.

I am buying now with tight stops, max stops out at 10.93, target 12ish.

YEap

Hi Y'all

My guess for today is AAPL will lead market much higher today. Stock beaten to death last several weeks, unfairly so. Look for POMO $$$ to go into AAPL and market will follow smartly. Happy trading

guelder_rose wrote:Cobra, this week is still sell in rebound modell?

so far yes, but subject to change at any time.

BKX
Check out the daily candle so far...
http://99ercharts.blogspot.com/2011/06/bkx_20.html
Dip buyers are going to get hammered.