Cobra's Market View

no L2 yet, let's wait for the next bar.

can i do a poll?
if debt ceiling agreement reached, what will u trade?

I am predicting we have a V shape recovery, test today's open imo. Please check the $VIX and $VXN.

There are still 6-day left before debt ceiling deadline. I speculate the market might be done selling by then. As for now, my Short-term signals show a very high percentage of more selling ahead.

Cobra wrote:

AK84 wrote:

Cobra wrote:US$ sharply up, parties reached a deal? Anyone knows why?

Cobra. When the deal is reached, US$ will rise....the equity market will also rise but as the US $ rises, do u think the market eventually goes down and starts getting correlated again ?

How would you trade the debt deal basically is what I am trying to figure out ...in the short and intermediate term . Also what will your long term view be then on the US stock market ( this one is hard to say because there is still the Eurozone risk which will not go away anytime soon )

Thanks

Theoretically, I shouldn't care about whatever news, the signals telling me it's down, so I should trade down. But my weakness is I'm afraid too much, so although I believe it's down no matter what, but I'm pretty much very lightly positioned on the downside now.

When US$ rise, I believe the market will down.

Debt ceiling deal should include spending cut, I don't see why it's good news for the stock market, especially we don't have QE3 now.

thats what im thinking. If there is a deal -gold up $ up (i dont blv we'll see the positive corrrelation ) stocks down. No deal .....$ down , stocks down , Gold up ! Deal or no deal ....i think we go down tooo ....BUT then again ....just like u ...i'll trade what i see and not necessarily what i blv because i am nobody when it comes to the markets....the market doesnt listen to me ...i listen to the market....and to YOU ofcourse guruji !!

Cobra wrote:first touch of EMA20, let's see if the coming L2 short works or not. wait... I'm pretty much out of most of my day short, too scared even high odds there should be at least one more leg down, yes, it's my weakness and that's why I'm still working hard everyday...

Not weakness, smart risk management.

Just a big picture reminder, SPX closed at 1320.64 at the end of JUNE. A close below there on FRIDAY would get the mainstream media all buzzing over 3 months in the red, especially if the tea baggers only settle the deal over the weekend, which is looking more and more likely.

cool chart
once and awhile Andrews Forks get it exactly correct, see support

well, too later, it was an EMA Gap short. Just the time when I went to washroom. It's interesting, by the way, you Americans say restroom, while we Canadian say washroom.

Cobra wrote:well, too later, it was an EMA Gap short. Just the time when I went to washroom. It's interesting, by the way, you Americans say restroom, while we Canadian say washroom.

In england we say "Toilet" and in India.....we say Latrine!!!

Tomato...Tomaaaaato...Potatoo...Potaaaaatooo!!

soku wrote:can i do a poll?
if debt ceiling agreement reached, what will u trade?

http://247wallst.com/2011/07/20/a-new-d ... k-kie-xlu/

I watch these ETFS but I am already in Direxion etfs such as FAS, FAZ,TNA,TZA.

AK84 wrote:

Cobra wrote:well, too later, it was an EMA Gap short. Just the time when I went to washroom. It's interesting, by the way, you Americans say restroom, while we Canadian say washroom.

In england we say "Toilet" and in India.....we say Latrine!!!

Tomato...Tomaaaaato...Potatoo...Potaaaaatooo!!

In America, we say POTTY

6E
Targeting 1.3538.
http://99ercharts.blogspot.com/2011/07/6e_27.html

visualization of US Debt.....whoaaa!

http://www.wtfnoway.com/

here comes the back test of the morning low. I see volume surge, so probably a rebound of some kind here? It's really hard to image the back test simply would be a higher low, but let's see.

Getting closer to going long again.Waiting

99er wrote:6E
Targeting 1.3538.
http://99ercharts.blogspot.com/2011/07/6e_27.html

good chart, thanks ... look at the new sell cross it means alot

Tabby wrote:

soku wrote:can i do a poll?
if debt ceiling agreement reached, what will u trade?

http://247wallst.com/2011/07/20/a-new-d ... k-kie-xlu/

I watch these ETFS but I am already in Direxion etfs such as FAS, FAZ,TNA,TZA.

thanks. that's a good list.
in summary, it says long Bond, Financial, Junk bonds, short gold and silver. i am also thinking currencies.

AK84 wrote:visualization of US Debt.....whoaaa!

http://www.wtfnoway.com/

wow, nice chart.

Updates

Gold http://99ercharts.blogspot.com/2011/07/gold_27.html
Silver http://99ercharts.blogspot.com/2011/07/silver_27.html
Crude http://99ercharts.blogspot.com/2011/07/crude_27.html

Deal or no deal...a market re-set.

soku wrote:

Tabby wrote:

soku wrote:can i do a poll?
if debt ceiling agreement reached, what will u trade?

http://247wallst.com/2011/07/20/a-new-d ... k-kie-xlu/

I watch these ETFS but I am already in Direxion etfs such as FAS, FAZ,TNA,TZA.

thanks. that's a good list.
in summary, it says long Bond, Financial, Junk bonds, short gold and silver. i am also thinking currencies.

Soku,
I just posted what I read, truthfully I don't trust any of them. When this cycle of bull market ends, this market will be in zigzag downtrending, so having etfs with (bull and bear) combo helps to gain more if we know the direction of the market. If you master in currencies, stay in whatever you are good at. I mainly stay in financials and small caps just b/c it has nice volume. Once this is done, i would be looking for something else, IMO. You can always find a fish in this big sea.