Cobra's Market View

StrikePrice wrote:The only Cramer advice I ever follow is NEVER own Airlines.

I guess you & Cramer missed this nice run-up on FAA.

Dow Trader wrote:I will not short a market with this table as it is with only 4 hours to go .. but thats just me

yeah, I saw AUD very strong, hard to image the market tanks here with so much liquidity flowing around...

Dow Trader wrote:I will not short a market with this table as it is with only 4 hours to go .. but thats just me

this market is all about buying the dips right now. unfortunately my buy orders aren't getting filed because the dips are dipping enough

Petsamo wrote:

StrikePrice wrote:The only Cramer advice I ever follow is NEVER own Airlines.

I guess you & Cramer missed this nice run-up on FAA.

I'm not here to debate but could find, and everyone else here could as well, find thousands of stocks that did way better from March 2009 to December 2010.

hi all,

update from my swing FDAX SHORT position.
short opened at 7375
half position closed at 7325
stop goes down to 7375
next take profit 7200.

gook luck.

g.

Cobra wrote:

Dow Trader wrote:I will not short a market with this table as it is with only 4 hours to go .. but thats just me

yeah, I saw AUD very strong, hard to image the market tanks here with so much liquidity flowing around...

Copra,
more charts, check the Dow 1 min and Russel2000 15 minutes

Updates

Gold http://99ercharts.blogspot.com/2011/07/gold_26.html
Silver http://99ercharts.blogspot.com/2011/07/silver_26.html
Crude http://99ercharts.blogspot.com/2011/07/crude_26.html
Long Bond http://99ercharts.blogspot.com/2011/07/30y_26.html

shumushu wrote:

Petsamo wrote:You fellas ought to check out UAL. They just reported earnings and they're good.



Disclosure: I went into FAA three days ago (too early), which is an airline ETF.

I am not understanding the "good" part of this chart? They sold off hard after earnings. Could you elaborate on this?

Main players of Airlines are UAL and LCC. just consider them and oil as a set of tilt. when oil goes up, airlines go down and when O8 pushes oil price down, airlines stock SHOULD bounce.
the charts show airlines battered very hard from events of Egypt, Libya,.....
LCC is at its 1-yr new low. So is UAL.

for ES trader, ES still playing with the uptrend line ( the lower band ). Keep in mind the line is rising and the range becoming tighter ...

Cobra wrote:fib 50%, volume surge, key point here. Now i'm inclined to believe the low was in, the pullback if any should make a higher low.

COBRA: the FORCE is with you!
On my 30 min SPX, a higher low is also very probable.

cougar: "SPX Monthly Floor Pivots (L=60):"

That is one hell of a nice chart. Is it you or your software? Or your expresso machine?

cougar: "On my 30 min SPX"

Another great one. Jeez...gotta get me one.

LOL! my espresso machine, now called Volpinacci, bought VIX Sep calls
Chart and his "mechanical rationale" were posted earlier!

market rolling over again. Guys, there is no real trade here unless you are a scalper. Market is not gonna move until congress make a move. I am gonna take a nap, order some pizza with bottled coke to celebrate my morning long gains.

ES
Update.
http://99ercharts.blogspot.com/2011/07/es_1380.html

Cobra,

Volume is tiny and going sideways. You think there will be one more leg down on 5 minute?

for my scalping, i am buying dip.
for a slightly bigger picture, it shows 1325 was the bottom. i am not comfortable with the position. a dip below 1320 will be much better, not to mention 1314 line in sand.

another key point here, breakout or breakdown will have different picture. let's wait for the direction.

cougar:

I must say that Volpinacci has a terrific sense of esthetics.

StrikePrice wrote:Cobra,

Volume is tiny and going sideways. You think there will be one more leg down on 5 minute?

we're on the down leg now. just I thought it should be a higher low.