Cobra's Market View

Just got an "early SELL" signal for IWM!
Unfortunately, sometimes "early" = premature!

KENA wrote:Sold my SPY long I got at the close yesterday.Did not expect it to be this good.I will now wait for a pull back.Lets see.

I know you did. well, no ball no glory congrats! I am short now let see.

BullBear52x wrote:

KENA wrote:Sold my SPY long I got at the close yesterday.Did not expect it to be this good.I will now wait for a pull back.Lets see.

I know you did. well, no ball no glory congrats! I am short now let see.

why you short here?

ED

it better be a second leg down, because I missed the whole move

KENA wrote:Sold my SPY long I got at the close yesterday.Did not expect it to be this good.I will now wait for a pull back.Lets see.

come on. i am still holding. cannot rule out a strong trending day. small fluctuation doesn't matter

let's see how this L3 goes, we'll know if the rebound is strong enough.

soku wrote:

KENA wrote:Sold my SPY long I got at the close yesterday.Did not expect it to be this good.I will now wait for a pull back.Lets see.

come on. i am still holding. cannot rule out a strong trending day. small fluctuation doesn't matter

I just non't trust this mkt.We may have a couple days up but I am expecting more dn.I may still buy back in but there is a lot of Resistance ahead.Have good trading soku.

SPY has an impulsive 5 waves up from yesterday's low. We'll likely see a 50% pullback in 3 waves before next move higher.

PLUNGE wrote:SPY has an impulsive 5 waves up from yesterday's low. We'll likely see a 50% pullback in 3 waves before next move higher.

BullBear52x wrote:Yes, so far so good for sell the rally crew.

yes, but it sure looks like a clear 5 waves up, let's see what happens after it retraces this move, if 1291 and 1303 fall today, bull is back

PLUNGE wrote:SPY has an impulsive 5 waves up from yesterday's low. We'll likely see a 50% pullback in 3 waves before next move higher.

Don't want to trades below 38.2% though

/cl getting ready for its run to 102.80,, glad i kept my other swing long...

alphahorn wrote:

BullBear52x wrote:Yes, so far so good for sell the rally crew.

yes, but it sure looks like a clear 5 waves up, let's see what happens after it retraces this move, if 1291 and 1303 fall today, bull is back

Copy that

PLUNGE wrote:SPY has an impulsive 5 waves up from yesterday's low. We'll likely see a 50% pullback in 3 waves before next move higher.

I agree!

How long can the market ignore the huge drop in IYR today? Looks like IYR could fall to 58.50 if that's a double top.

Buying some protective puts on SPY today due to the weakness in IYR and the cyclical turn at 12 EST today. I am not super bearish but good to get some protection here.

what the hell was that 50 cent bar on /cl ? it's amazing that the CFTC doesn't fine these stupid ass bots that just probe for the biggest bid/ask.... disgusting considering this is a global commodity that everyone relies on...

cletus wrote:Buying some protective puts on SPY today due to the weakness in IYR and the cyclical turn at 12 EST today. I am not super bearish but good to get some protection here.

Are your protective puts ITM puts? Which expiration and what strike? THanks!

cletus wrote:How long can the market ignore the huge drop in IYR today? Looks like IYR could fall to 58.50 if that's a double top.

IYR is a small part of the market...