Cobra's Market View

Jennyahwu wrote:Cobra, I remember you say it should close red in this Monday, how about the rest of days in the week? thanks ad.

if bears want to fight back, it's this week especially after 04/27 FOMC announcement. All I can say now are bears have better chances to fight back than the next week.

Cobra wrote:

jde77tex wrote:Cobra... can you comment on what your thoughts are currently on VXX? The VIX is up 7% and yet the VXX is down 1.7%??
Thanks for any input.

don't trade VXX, it's nothing to do with VIX. If you can short VXX, maybe that's a good idea, just hold it and let it drop to zero.

I agree with Cobra, only trade VXX is you understand everything about the VIX, do you know what contango is?. Otherwise don't hold it for long unless you're shorting it, like Cobra says.

This spike in the VIX with VXX trading down could be a buy setup. VXX looks to be ending it's down cycle around now but any attempt to trade this is highly speculative and short-term only.

I do wonder what this sort of a set up, VIX spike and VXX w/ RSI(2) < 10 has done in the past?

MACD 1 hour developments:

$SOX bearish crossed
XLF few more minutes to tell
TYP bullish crossed
QQQ bearish crossed
IWM beraish crossed

Party time for bears soon?

I use the VWAP for intraday trades. It serves as confirmation – as long as SPY is trading above the VWAP, I usually give the rally the benefit of the doubt. If it crosses the VWAP to the downside, I will short with a stop at the VWAP (it’s amazing used as support/resistance).

Use it on an intraday 1 minute time frame. It is a powerful compliment to traditional chart reading.[/quote]

do you understand why?

tough call here. let's wait and see.

I agree with Cobra, only trade VXX is you understand everything about the VIX, do you know what contango is?. Otherwise don't hold it for long unless you're shorting it, like Cobra says.

This spike in the VIX with VXX trading down could be a buy setup. VXX looks to be ending it's down cycle around now but any attempt to trade this is highly speculative and short-term only.

I do wonder what this sort of a set up, VIX spike and VXX w/ RSI(2) < 10 has done in the past?[/quote]

contango has little affect on VIX futures.

the test you suggest, what is the timeframe?

a little bigger picture is not bearish.

Oops! http://www.zerohedge.com/article/bats-g ... r-appealed

OveSentlig wrote:Oops! http://www.zerohedge.com/article/bats-g ... r-appealed

a small ETF shop suffered similar story two weeks ago. like $xx to cents.

any important er after close?
i feel like the market is waiting for something. or it could just be easter

call me permabear, i think es is posed to go down

hmm, this kind of close could mean more weakness tomorrow morning assume there's no miracle in the last 8 minutes. I see 2 legged down here, this is the 2nd leg down and that's why I think we may see more weakness tomorrow morning.

well, I guess that's it for today, another boring day, but the overall picture still looks bullish to me. Thank you guys, I'll see you tomorrow!

yoku wrote:any important er after close?
i feel like the market is waiting for something. or it could just be easter

call me permabear, i think es is posed to go down

NFLX. but the market awaits his drug dealer bernaneke.

bbc wrote:I use the VWAP for intraday trades. It serves as confirmation – as long as SPY is trading above the VWAP, I usually give the rally the benefit of the doubt. If it crosses the VWAP to the downside, I will short with a stop at the VWAP (it’s amazing used as support/resistance).

Use it on an intraday 1 minute time frame. It is a powerful compliment to traditional chart reading.

do you understand why?[/quote]

No - I learned this technique from Craig when he used to moderate the Stocktock.com board. Could you share your thoughts?

So let me share my 2 cents:
As dubious as a snake can be:
(bulls and bears co-existing = snake)

More: http://iloliway.blogspot.com/

DaWay wrote:So let me share my 2 cents:
As dubious as a snake can be:
(bulls and bears co-existing = snake)

More: http://iloliway.blogspot.com/

HAHAH, GOOD.