Cobra's Market View

Me XMan wrote:You're still buying the dip?

BullBear52x wrote:

Al_Dente wrote:

BullBear52x wrote:Look at DIA, XLF and EEM here

Baron von DiamondTop52
Nice, smh rolled over, now only hang seng (closed) is up
Green is nowhere to be found…Update
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =247748592
http://www.youtube.com/watch?v=394MG8Q6 ... re=related

Someone pays attention to my none sense Diamond top, well, target for that one is 115, crazy ha? but with this crazy market will any one be surprised? Country song ha? you do pay attention to the board.

let see, if the pull back is too deep then it's bad, but this is Friday, got to take some profit and minimize the risk over the weekend, will see.

P Obama live at g-20
free http://www.bloomberg.com/tv/

Waiting for the breakdown. We may get a snapback rally on Monday if the nobody screws anything up at the G20 this weekend.

Does the SPX look like its forming a H&S top to anyone else? Not perfect but close enough.

If this is 3 of 5, then target is 1138 possibly.

1 = 1292-1215
2 = 1215-1263 ( 61.8 )
3 targets = 1138 ( 1.618 of 1 ), 1060 ( 2.618 of 1 )

Cobra wrote:target, 75% chances even it's failed, within day or two, here, will be revisited.

measured move target met. any further comment on direction cobra?

Still Net Long.
Have a stop on which will throw the hedges back on and lock in some profit if things keep unraveling today.

proteus46 wrote:

BullBear52x wrote:My mini target is 124.5 spy

I agree, I'm waiting for 124.57 before considering a short-term long position with SPY

Never bought at 124.50, SPY fell through too fast,

maybe i just jinxed the shorts by commenting on this board....oops...

target reached. should be more, this at least is 2 legged pullback.

Cobra wrote:target reached. should be more, this at least is 2 legged pullback.

uh oh. two legged? -_-

seems to fail regulary for the bearish case.

qtipped wrote:

StrikePrice wrote:Primary count is on track. Not sure why anyone here wants to long right now. I put a circle to where this C Wave is heading.

it seems everyone was bullish and long yesterday...others i spoke were so optimistic...msg boards were all bullish with very few bearish comments...if any, they were in pain and desperate. even i was expecting a gap up towards 128...weird how sentiment changes so quickly....crazy times...

I wasn't Bullish. I posted on this Board I shorted at 1,250 and I held through the squeeze up.

groupon up 50% at $30 bucks a share.

Cobra wrote:target reached. should be more, this at least is 2 legged pullback.

Dont we have here 3 puch down?? and now should have a rebound of 2 legged up?

PAGING XFRANDEX
Thank you.
Indulge me for a moment as I cut/paste a portion of your kind comment to me after-hours, as some folks on this board do not understand the respect you show to your elders and wisers.

“Mr. Dente. I respect your work. Do you have an opinion about going short tza and tna (equal dollars) continuously. ….”

I don’t do any pairs trading, so unfortunately I can’t help you with that one. I favor very simple day-trading, if/when $RUT is the strongest percentage gainer intraday, I might long juiced UWM or super-juiced TNA, if $RUT is weak, I may long TZA….. and continuous to me means the full trading day, and usually flat at the close. The juiced ETFs do not work for me on longer holds.

As a small token of my appreciation, I will share with you all that I have: a chart, a quote from the master, and a song.
First the chart: IWM daily… I loved it last night….hate it this morning
http://stockcharts.com/h-sc/ui?s=IWM&p= ... listNum=15
The master: “Put your hand on a hot stove for a minute, and it seems like an hour. Sit with a pretty girl for an hour, and it seems like a minute.
THAT'S relativity.” [Albert Einstein]
The song: http://www.youtube.com/watch?v=Am05yZeh ... re=related
PS: please feel free to call me “Dr. Al”

Guys, just checking on some data feed problems.. anyone getting a Feb 12 2011 bad print on the SPY to 100? 100 to the dot. I have it on all the time under a day.

here's why it should be 2 legged, as I said yesterday, all the big pullbacks recently were just 1 legged, which is unbelievable. If statistics are of a little little use, this time should be 2 legged, not to mention the pullback this time is larger than all the previous ones.

5dma support, short term MACD now turning bearish and so's RSI

dcurban1 wrote:Waiting for the breakdown. We may get a snapback rally on Monday if the nobody screws anything up at the G20 this weekend.

Does the SPX look like its forming a H&S top to anyone else? Not perfect but close enough.

spx110411.JPG

Yes, I agree. Had an order to open to sell at 1260 but I cancelled ity last minute. bit gutted.

Cobra wrote:here's why it should be 2 legged, as I said yesterday, all the big pullbacks recently were just 1 legged, which is unbelievable. If statistics are of a little little use, this time should be 2 legged, not to mention the pullback this time is larger than all the previous ones.

Cobra, if the 2 leg down, is it still buy dip ? thanks or the market will retreat few days? thanks

StrikePrice wrote:

qtipped wrote:

StrikePrice wrote:Primary count is on track. Not sure why anyone here wants to long right now. I put a circle to where this C Wave is heading.

it seems everyone was bullish and long yesterday...others i spoke were so optimistic...msg boards were all bullish with very few bearish comments...if any, they were in pain and desperate. even i was expecting a gap up towards 128...weird how sentiment changes so quickly....crazy times...

I wasn't Bullish. I posted on this Board I shorted at 1,250 and I held through the squeeze up.

Right or Wrong is not biggy for me so long everyone sincere on their TA analysis here.