Cobra's Market View

KENA wrote:This is a good TZA day..Lets see..soku you are missing it today

Yeah it is - after being bent over for a week and a half, finally some relief.

YoKu/Soku = he's busy making out with that chick (like he always is)
Funny thing is she asked him:
"is that a gun in your pocket, or are you happy to see me?"

A little SoKu humor never hurts.......

uempel wrote:Update:

SPX6.png

Thanks Uempel...I would like to see 38.2 broken

More troubles ahead

10:30am USD

President Obama Speaks

will cobra impulse system go into short mode today ?????

"Can you see what I see...?" - Little Drummer Boy

KENA wrote:

uempel wrote:Update:

SPX6.png

Thanks Uempel...I would like to see 38.2 broken

We had the first .886 retracement from the March 17 low to the May 2 high (.886 was nearly reached at the low on 6/16).

Are we getting the 2nd one from the May 2nd high on the ES from the high at 1368 to the low at 1252. 1354 was exactly .886. The .886 level is one of the strongest reversals because everyone thinks the market will either reach the prior bottom or prior top once it exceeds the .764 retracement.

Just something to ponder.

Silver
Update.
http://99ercharts.blogspot.com/2011/07/silver_08.html

Gold
Update.
http://99ercharts.blogspot.com/2011/07/gold_08.html

Crude
Update.
http://99ercharts.blogspot.com/2011/07/crude_08.html

AK84 wrote:will cobra impulse system go into short mode today ?????

not a chance!

some of the commodity complex isn't doing THAT badly today, except oil mainly, which means this is not a panic sell, sell, sell everything day

Cobra wrote:

AK84 wrote:will cobra impulse system go into short mode today ?????

not a chance!

so shorting probably not a good idea eh .....im seeing a lot of single stock names and the SNP under the 5dma.....also breakdown below yday's low....

thanks cobra !!

The pres. is supposed to show up and reassure the markets…but he is 30 min late. Rumors that he won’t show up at all are the very bad…

Put in a few longs today based on Cobra theory: this dip is a buy.

cougar wrote:The pres. is supposed to show up and reassure the markets…but he is 30 min late. Rumors that he won’t show up at all are the very bad…

The teleprompter must be broken.

Anaconda wrote:Morning all. Exciting day. Sure glad I got out in time, yesterday. Nothing like a little luck. (Although the odds sure were stacking up against those of us who were long.)

Anyone take a look at silver, lately? If this ain't a bear flag, I don't know what is:

COT data is very bullish for silver though, and gold

Com'on, Ben.
30Y http://99ercharts.blogspot.com/2011/07/30y_08.html
You can do it.

davros wrote:

Anaconda wrote:Morning all. Exciting day. Sure glad I got out in time, yesterday. Nothing like a little luck. (Although the odds sure were stacking up against those of us who were long.)

Anyone take a look at silver, lately? If this ain't a bear flag, I don't know what is:

COT data is very bullish for silver though, and gold

True. And it wouldn't surprise me to see a new interim high over the short term (see 99's silver chart today). However, this would be consistent with the intermediate term bear flag construct (where flag runs counter to trend). So, maybe quick run up before big, longer term down. Looking at the pole, I'm betting around $26 or so.

Good luck.

The market is the master of taunting both bulls and bears. In May and June, everyone expects bounces to sell into but hardly any chance. When finally the market bounces, it is bought relentlessly, trapping the bears in and the bulls out. Now everyone expect overbought correction for a few days to buy into, today we finally get one, but I suspect the market may just screw everyone again by selling relentlessly from here. Trying to think like a crook.