Cobra's Market View

Market turning at the 11 EST turn after all! Next turn is 14 EST. I might not post anything today. See ya.

Nice discussion topic, guys! BTW, I am surprised that in the present conditions we do not hear more CRASH talk…No Hindenburg !? Or, am I not well informed about what the cognoscenti think?

cougar wrote:Nice discussion topic, guys! BTW, I am surprised that in the present conditions we do not hear more CRASH talk…No Hindenburg !? Or, am I not well informed about what the cognoscenti think?

CNBC is talking about back to March 2009 lows, I heard someone saying.

Yeah...that was Zimmermann...Not very good ...

nasa1100 wrote:3rd MDD in 8 days if closed here!

I wonder if there is any edge on this. I still would like to see VIX surge and NYMO dip around 80-85.

Gold
Update.
http://99ercharts.blogspot.com/2011/06/gold_10.html

Silver
Update.
http://99ercharts.blogspot.com/2011/06/silver_10.html

Crude
Update.
http://99ercharts.blogspot.com/2011/06/crude_10.html

Cobra wrote:

BullBear52x wrote:

Cobra wrote:remember my rule:

1. gap down, 10:30am ET lower low then 90% chances open > close.
2. a forward accelerating car cannot be reversed without slowing down first.

so no buy dip here, even it looks very stretched and I admit i'm very nervous here but trading is mostly AGAINST YOURSELF!

I have not heard anyone saying "The market is Crashed" so more down side to go?

I still don't see spike in visiting my web site. very strange, even down a little bit.

Cobra - perhaps this has to do with expectations vs reality. In other words, if people expect a downturn, or profit-taking, or "breather" as the TV pundits like to blubber on about, then there is no "surprise." Expectations are being met. So, no surprise increase in number of visitors to Cobra's site, searching for "the truth!"

Release: I still hold VIX July 25 calls, which are green…Today, some guys bought over 9,000 contracts at the ask.

Cobra wrote:

cougar wrote:Nice discussion topic, guys! BTW, I am surprised that in the present conditions we do not hear more CRASH talk…No Hindenburg !? Or, am I not well informed about what the cognoscenti think?

CNBC is talking about back to March 2009 lows, I heard someone saying.

haha~in my opinion,maybe JUN 2010 lows is the very target after moving more time in the top range(125-137),oh,my poor english...

Resistances are only building up and at this current stage we are not going to gain a strength any time soon.

Cobra said.
<<I still don't see spike in visiting my web site. very strange, even down a little bit.[/quote]>>

As part of my contribution to your hard work, I pressed on the site blog 20 times since I read this post.
After market is over, I press another 80 times later.

IMHO, bears must push down with full force today in order to eliminate any positive divergence (as much as possible) on 60 min RSI....

Tabby wrote:I still don't see spike in visiting my web site. very strange, even down a little bit.

As part of my contribution to your hard work, I pressed on the site blog 20 times since I read this post.
After market is over, I press another 80 times later.[/quote]

someone'd better write a robot to do that

Tabby wrote:Cobra said.
<<I still don't see spike in visiting my web site. very strange, even down a little bit.

>>

As part of my contribution to your hard work, I pressed on the site blog 20 times since I read this post.
After market is over, I press another 80 times later.[/quote]

that may only count once. you have to refresh then close your browser then open your browser, refresh then close then open then close then open ...

Cobra: you are right about the TV pundits: what they say, rarely means anything…
Very few of the people interviewed actually reveal their trading of investing positions. Among these, I watch Garry Shilling, who is a n inspired bond trader. He counts on a market drop (but not a crash) this summer, followed by a late summer countertrend…However, next year: RECESSION!

Cobra, What's your take on Apple...It's taken a beating lately...

99er wrote:Silver
Update.
http://99ercharts.blogspot.com/2011/06/silver_10.html

time to drop? thanks

First I was hoping that 128.2 will give this pull back a support and hoping for sideways to up in couple days, now all that is changed today. financial is in the ruin, this is difference than normal correction, trade the trend is the only sure bet. fundamentally .....well I rather stop here