Cobra's Market View

By the way, I knew these levels would fall ahead of time, that the VIX would rise from here, the S&P would fall and IYR would collapse. Now there is news of an earthquake in Japan, so I would put forth the idea that these earthquakes are being created by someone. I actually believe strongly that it's the case.

How you do the moon walk again? with coffee cup in hand.

cletus wrote:

stocksage wrote:Market is not going down substantially til late May. Bears hear just keep losing capital.

My DRV position is up 2.4% today. How is that losing?

lol cletus. You get a tiny little gain while the bulls are up huge in the past couple of years and if you are a good stock picker much more than that! Typical permabear. Good luck.

You mean there's a conspiracy going on? Who's doing the quake?

cletus wrote:By the way, I knew these levels would fall ahead of time, that the VIX would rise from here, the S&P would fall and IYR would collapse. Now there is news of an earthquake in Japan, so I would put forth the idea that these earthquakes are being created by someone. I actually believe strongly that it's the case.

Today is not about make a good trade, the change of trend technically speaking got cracked today. Bears can not sleep good until DBV trade below 24.50.

If you call this kiss channel goodbye, sure, I don't mind. But better wait until dust settles down before take any actions, not matter you're bears or bulls.

stocksage wrote:lol cletus. You get a tiny little gain while the bulls are up huge in the past couple of years and if you are a good stock picker much more than that! Typical permabear. Good luck.

Please, we can have different opinions and argue with polite manner. Just don't mock each other. Thanks. This board is small right now, but I'll try my best to keep it open as long as I'm kicking. I sure hope all of you guys are happy here.

cobra do u think it's safe to go short here? we are at the retest point and /nkd still near its lows

market mark a short term must target which is today's low

SPX
Update.
Not taking my marbles home after all.
http://99ercharts.blogspot.com/2011/04/spx_1948.html

Cobra..Thanks Cobra..I think that your comment was needed. Yes I am happy here. I have even learned some things.Halllllaaalllluuuya.

if you want my opinion about the market, all I can say are: NORMALLY, the panic low will get tested sooner than later. But really, nowadays, nothing matters. I really don't understand with so much uncertainties going on, how could the market simply ignore all of them. But, we are traders, so we shouldn't care about what we really want to believe at all, if the market skyrockets high from here, sure, fine, be happy and cheer for bulls. That's it, that's the reality.

agnosia wrote:cobra do u think it's safe to go short here? we are at the retest point and /nkd still near its lows

See my other comment. I don't know.

For now, I have both long and short, will sure lose the bet on one side, as long as I know how much I'd lose for each trade, that should be fine.

Cobra,
Thank you for your efforts. Based on the quality of your work, I am sure that this board will become very prominent, very soon.

Shorterm down swing trade is in place for me now that both intraday and swing low are in for me.

Cobra wrote:

agnosia wrote:cobra do u think it's safe to go short here? we are at the retest point and /nkd still near its lows

See my other comment. I don't know.

For now, I have both long and short, will sure lose the bet on one side, as long as I know how much I'd lose for each trade, that should be fine.

lol. great way to play both sides i no longer plan on shorting this market and will only look for good swing longs... maybe when QE2 ends.

PRI wrote:Cobra,
Thank you for your efforts. Based on the quality of your work, I am sure that this board will become very prominent, very soon.

Thanks.

Gold
New high.
http://99ercharts.blogspot.com/2011/04/gold_07.html

I will close my Dow short position exactly at today's low

Have to think if the market sells off now it will use the Japan earthquake as an excuse, rather than the real reason. Typically these international disasters/crisis lead to buying opportunities very quickly (London bombings in 2005, Egypt and earlier Japan earthquake).

Japan had several 6.0 to 6.5 earthquakes after the initial terrible earthqake and the market didn't react. While this one is worse, it isn't the 9.0 Japan experienced in mid March.