Cobra's Market View

I'm not happy with the rebound so far, wait. The bad news is I have to out for about an hour, talk you later.

L_T wrote:

Al_Dente wrote:

ClarkW wrote:You rang, AL? Sorry, in and out today. What up Doc?

I missed the opening gap
fresh low today, oy

211gdx.png

Channeling Cobra here: 3 pushes down means the support won't hold???

yes, Cobra has a different take on trip/quad tops and bottoms
v Bulkowski
And COBRA is almost always right (eg: Cobra beats Bulkowski, hands down)
[true story]

MrMiyagi wrote:

BullBear52x wrote:5, 4, 3, 2, ....2 .......2 ......2 3, 4, ........2

Is that a Tango?

So, Myagi, I am under the impression that there are no open P-bars above where we are now.

Nrsimha wrote:So, Miyagi, I am under the impression that there are no open P-bars above where we are now.

Just one on DIA; everything else is downwards.

Paging TraderGirl:

I would have thought that today would be a big-time reversal day; new moon, indeed, lunar new year (Chinese), etc.

Al_Dente wrote:

ClarkW wrote:

Al_Dente wrote:

ClarkW wrote:You rang, AL? Sorry, in and out today. What up Doc?

I missed the opening gap
fresh low today, oy

Me too. She might be ready for a small move up before breaking through this resistance in a couple days. Hopefully my ADD allows me to remember to follow her

Agree but she is sooooo weak
[when u said break resistance, I “read” that as break SUPPORT, at least that's my take on it....]

Yes, meant Support!!!

Any opinions on Crude Oil here? Is it at the start of another leg up?
I keep reading that it is going down but it may be done that direction.

Somebody just bought 1million shares spy
TraderGirl was that u?

Update:

Al_Dente wrote:Somebody just bought 1million shares spy
TraderGirl was that u?

Al, why did you sell Harapa's system is still bullish!

Nrsimha wrote:Paging TraderGirl:

I would have thought that today would be a big-time reversal day; new moon, indeed, lunar new year (Chinese), etc.

Saturn squashing Happy go lucky jupiter to,maybe tonight turn

Al_Dente wrote:Somebody just bought 1million shares spy
TraderGirl was that u?

Not me...

Nrsimha wrote:Paging TraderGirl:

I would have thought that today would be a big-time reversal day; new moon, indeed, lunar new year (Chinese), etc.

Nrisimha, it is a reversal/acceleration day

Nrsimha wrote:Paging TraderGirl:

I would have thought that today would be a big-time reversal day; new moon, indeed, lunar new year (Chinese), etc.

Me too, but I am glad it's holding on...maybe we see pullback sometime this week then another attempt for a high around the 14th? Would like to see it hold up into the 14th, where there is a nice turn date...would like to see it work this time...a lot of the turns have not been working because of the bullish aspects...so we will see....

MrMiyagi wrote:Any opinions on Crude Oil here? Is it at the start of another leg up?
I keep reading that it is going down but it may be done that direction.

Looks toppy to me. Both Brent and West Texas look like they are retesting resistance. BNO (etf that follows Brent)
is gap-filling (before going lower?). Now, the recent (last hour or so) rally in West Texas looks formidable -- a close
in $WTIC above 97.10 would change my mind and turn me bullish; or a close in BNO above 88.41 (yesterday's close).
I closed a lot of my oil-patch stocks recently as everything looking quite toppy.
To summarize: go bullish if BNO closes > 88.41 or USO > 35.20

BTW here's a nice link for real-time $WTIC:

http://www.pmbull.com/oil-price/

Transports...We need to see this support bust...

uempel wrote:

Al_Dente wrote:Somebody just bought 1million shares spy
TraderGirl was that u?

Al, why did you sell Harapa's system is still bullish!

Yo Pavlov: I know u prefer dogs over cats
Me too

Hope i am wrong here but seems we are consolidating for a gap up tomorrow morning,bears just cant do damage,Maybe Obama speak will turn market down Wed,1 day before TG turn

Nrsimha wrote:Both Brent and West Texas look like they are retesting resistance. Now, the recent (last hour or so) rally in West Texas looks formidable

Thanks Nrsimha, it feels like it wants to break out but last week it did the same; pop/drop pop/drop and so on...

What was today's pop in price based on?

Breakout!?