Cobra's Market View

some bears are just big fat wussies and exit too early
I’ll try that cobra “day swing” thingie tomorrow
today I did the Brooks thingie: if it looks like the pattern u are waiting for, it probably is close enough, do it

PAGING TRADERBABE or anyone
If u find a live link to the bernank speech at 1:00 ET, please post link, thanx

Everything still aligns at the moment

Cobra wrote:normally, this kind of pullback should mean 2 legged down, so not over yet.

this chart tells me, my conversion of spy to es is not correct. cobra's target is actually very close to mine.
any easy fix?
anyway i still think uempel is the winner. i see momentum drop since 1368.25. i should close my shorts earlier.

SPX chart real clear shown a price kiss of death, not a buy for sure. it is what it is right?

rpccharts wrote:

Cobra wrote:aapl huge volume could be an exhaustion here, let's see how current bar closes first.

Bernanke SPEECH on QE III coming

1:00 PM EST Fed Chairman Bernanke Speaks

there won't be any QE III. How much gas price you're willing to pay? Besides the republicans have already made it very clear: don't mess the election. I don't think Ben dares to do that risk even his own life.

the chart below shows, NORMALLY, the gas price would keep rising because it's a consolidation pattern.

Cobra, what is your H & S target on APPL that you mentioned yesterday,if it is one indeed?

soku wrote: i should close my shorts earlier.

Why? I don't see any bottoming pattern yet and i hope we're not on a bull market when accumulation near low meant reversal. Still holding my shorts. All indicators still pointing down.


Thx BB52x.

soku wrote:

Cobra wrote:normally, this kind of pullback should mean 2 legged down, so not over yet.

this chart tells me, my conversion of spy to es is not correct. cobra's target is actually very close to mine.
any easy fix?
anyway i still think uempel is the winner. i see momentum drop since 1368.25. i should close my shorts earlier.

the ES bear target would be 1367.75. 60% chances. I can quote both SPY and ES target at the same time the next time.

paul wrote:Cobra, what is your H & S target on APPL that you mentioned yesterday,if it is one indeed?

it's not H&S.

Cobra wrote:

soku wrote:

Cobra wrote:normally, this kind of pullback should mean 2 legged down, so not over yet.

this chart tells me, my conversion of spy to es is not correct. cobra's target is actually very close to mine.
any easy fix?
anyway i still think uempel is the winner. i see momentum drop since 1368.25. i should close my shorts earlier.

the ES bear target would be 1367.75. 60% chances. I can quote both SPY and ES target at the same time the next time.

i know why i was wrong. spy is slightly higher than spx, so i shd also deduct the 4.5.

Cobra,

Thoughts on the direction of Apple?

Ben is with o8 now. If o8 doesn't get elected, then Ben will be unempolyeed. so, Ben will do whatever he can to help the o8.

ysc wrote:Ben is with o8 now. If o8 doesn't get elected, then Ben will help to increase the unempolyeed rate. so, Ben will do whatever he can to help the o8.

Very helpful information.

Valance wrote:Cobra,

Thoughts on the direction of Apple?

will see rebound soon.

Update:

tomsky wrote:

soku wrote: i should close my shorts earlier.

Why? I don't see any bottoming pattern yet and i hope we're not on a bull market when accumulation near low meant reversal. Still holding my shorts. All indicators still pointing down.


Thx BB52x.

as i have already mentioned, i see momentum shrink for the down leg from 1377.25 to 1368.25. overall picture not turned yet, but for a short term trading plan, it's time to cover. i covered at 69.25 in the last push down. not too bad for me.

Interesting chart of Apple...

soku wrote:

Cobra wrote:

soku wrote:

Cobra wrote:normally, this kind of pullback should mean 2 legged down, so not over yet.

this chart tells me, my conversion of spy to es is not correct. cobra's target is actually very close to mine.
any easy fix?
anyway i still think uempel is the winner. i see momentum drop since 1368.25. i should close my shorts earlier.

the ES bear target would be 1367.75. 60% chances. I can quote both SPY and ES target at the same time the next time.

i know why i was wrong. spy is slightly higher than spx, so i shd also deduct the 4.5.

my ES target is not conversion of SPY, it's calculated based on ES pattern.

Is the selling over?

Watch, the talking head and the chipping birds will start to talk about Spain going to default. coming to the wire near you. don't pay attention to them. your chart is your friend.

key time. but I think rebound isn't over yet. we'll see.