Cobra's Market View

Posted: **Tue Feb 21, 2012 2:26 pm**

why is UCO going bananas?

Posted: **Tue Feb 21, 2012 2:28 pm**

btran874 wrote:TWT, are you there? I never seen a Subminuette wave 2 doing a complex correction before. Weird!

This got to be a 5th wave ending diagonal then on the subminute count.

Can you post a chart please

Posted: **Tue Feb 21, 2012 2:30 pm**

Check out this anagram on XOM, would have to break out at #11 and hold to negate pattern...

Posted: **Tue Feb 21, 2012 2:34 pm**

SWalsh wrote:
TWT wrote:ES Globex:

- Premise: A potential ED is in progress

1. The current pullback is clearly corrective therefore a Top is not in place.
2. The s/t EWP could be a DZZ
3. If this is the wave (IV) of the ED then it is required the overlap below w(I) at 1352.75

Be patient, don´t get too agressive on the short side yet

(thewavetrading.com)
Do you also count SPX? The reason I ask is that there are many times (well more than half) that ES spends it's almost 17 hours being thinly traded and generally flat-lining. When it does as such I don't see a way to place anything reliable in the way of a label on ES and have to dismiss it, except for, at times, its own trendlines.

This morning SPX has a clear 5 wave move down that should not have ended anything. But I saw the possibility developing with ES. But it's not my "go to" market for direction. It's only HFT/Algo activity that is doing this as I know from experience these moves were never seen until computers became the dominating force in the market.

This is not a normal market and it is tough to get the correct count. Where is the fifth ? Where does it begin ?
Everything looks so corrective ..... This is why I think of a potential ED, maybe in wave III now
The wave (IV) should drop 13 points in order to get the required overlap with the wave (I) high.

Who knows, Just guessing

Posted: **Tue Feb 21, 2012 2:36 pm**

real sqz
UCO

Posted: **Tue Feb 21, 2012 2:39 pm**

TWT wrote:
btran874 wrote:TWT, are you there? I never seen a Subminuette wave 2 doing a complex correction before. Weird!

This got to be a 5th wave ending diagonal then on the subminute count.

Can you post a chart please

This is my very current count.

Posted: **Tue Feb 21, 2012 2:42 pm**

My count is wrong. Ending diagonal is over. YAHOOOOOOO! it's finally here gentlemen and ladies!

Or maybe this is the 4th wave of that ending diagonal. Jesus Christ, Elliot Waves is too complex and too many different counts, lol.

Posted: **Tue Feb 21, 2012 2:45 pm**

I'm gonna get drunk if market ends in red.

btran874 wrote:My count is wrong. Ending diagonal is over. YAHOOOOOOO! it's finally here gentlemen and ladies!

Posted: **Tue Feb 21, 2012 2:45 pm**

OK, H&S Top target. Usually H$S doesn't work though.

Posted: **Tue Feb 21, 2012 2:47 pm**

Me XMan wrote:I'm gonna get drunk if market ends in red.

btran874 wrote:My count is wrong. Ending diagonal is over. YAHOOOOOOO! it's finally here gentlemen and ladies!

Still could be wave 4 of that ending diagonal. I'm not sure, lol. Elliot Waves is too complex.

Posted: **Tue Feb 21, 2012 2:53 pm**

btran874 wrote:
Me XMan wrote:I'm gonna get drunk if market ends in red.

btran874 wrote:My count is wrong. Ending diagonal is over. YAHOOOOOOO! it's finally here gentlemen and ladies!

Still could be wave 4 of that ending diagonal. I'm not sure, lol. Elliot Waves is too complex.

Okay, this is wave 4 of that ending diagonal then. A major sell off does not start like this, lol, okay back to the drawing board.

Posted: **Tue Feb 21, 2012 3:06 pm**

Europe closed in the Red. Chances are we will too.

Posted: **Tue Feb 21, 2012 3:08 pm**

trendline. I have no bias now, so will wait.

Posted: **Tue Feb 21, 2012 3:12 pm**

anyone else like the GS short here? been eyeing it all day, but honestly, am sick to my stomach to go short anything else. i'm already short a number of single names...

Posted: **Tue Feb 21, 2012 3:12 pm**

Cobra wrote:OK, H&S Top target. Usually H$S doesn't work though.

You mean bear pattern doesn't work right? bull pattern still work

IWM sit on 5 mda now

Posted: **Tue Feb 21, 2012 3:15 pm**

Today is the day ! The F-day ... Look at $TRAN, Confirmed !

Posted: **Tue Feb 21, 2012 3:18 pm**

HappyFriday wrote:Today is the day ! The F-day ... Look at $TRAN, Confirmed !

yep, and QQQ is getting slammed

Posted: **Tue Feb 21, 2012 3:21 pm**

HappyFriday wrote:Today is the day ! The F-day ... Look at $TRAN, Confirmed !

DOW 13K was the objective ??

Posted: **Tue Feb 21, 2012 3:24 pm**

HappyFriday wrote:Today is the day ! The F-day ... Look at $TRAN, Confirmed !

Happy Friday to you too.

Posted: **Tue Feb 21, 2012 3:26 pm**

target reached, but looks like there's more.

Cobra's Market View

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