Cobra's Market View

KENA wrote:For any one that wants to positoion for a pop or a good move up, NFLX..BWLD..VMW..could be good swing trades as the mkt moves up.Do your home work look at your charts etc.I have been wrong many times.Also of course is aapl but I don't trade that one right now. Wait and see.

I agree KENA with you on BWLD, been looking at upside calls there for a swing trade but have not executed yet...the others I'm not charting currently

good luck....I rode that SODA trade with you last time, which was nice

hmm, even weaker than I thought. I think I'm already bearish biased. anyway, look like the 3 push up is over, now it's the 2 legged down. green line is the key to watch.

oldpigwang wrote:Cobra : do you think this rally is just a bounce? or a trend reversal?

bounce mostly.

Thx, Boy, my put.

Ninja Trader wrote:

KENA wrote:For any one that wants to positoion for a pop or a good move up, NFLX..BWLD..VMW..could be good swing trades as the mkt moves up.Do your home work look at your charts etc.I have been wrong many times.Also of course is aapl but I don't trade that one right now. Wait and see.

I agree KENA with you on BWLD, been looking at upside calls there for a swing trade but have not executed yet...the others I'm not charting currently

good luck....I rode that SODA trade with you last time, which was nice

Yes its nice to hit one every now and then.Have good trading.

volume surge plus bull bar, good, let's see the next bar, could see rebound.

Cobra
Do you rememeder day like this? Want to find ES picture the day after
Your night does our day

the rebound might be only a small bear flag. let's see.

parker wrote:Cobra
Do you rememeder day like this? Want to find ES picture the day after
Your night does our day

sorry, what's your question?

I remember lots of days like today. usually before the real bounce there'd be a sudden intraday bounce that makes everyone believe the low was in but such a sudden bounce usually fail the same day. Let's see if history repeats again this time.

Cobra wrote:

oldpigwang wrote:Cobra : do you think this rally is just a bounce? or a trend reversal?

bounce mostly.

Cobra, you said in last night report that red day today is good for bulls because it's more likely a trend reversal. Do you still think that might be the case?

failed bear flag push down, now the market tries the opposite direction, guess we'll have a strong close today.

STC wrote:

Cobra wrote:

oldpigwang wrote:Cobra : do you think this rally is just a bounce? or a trend reversal?

bounce mostly.

Cobra, you said in last night report that red day today is good for bulls because it's more likely a trend reversal. Do you still think that might be the case?

yes, red day could mean a reversal. even green day has some chances too just not as good as red day. we're due for a good rebound anyway.

The DOW is the only one that is good today.May next week the NAS and RUS will make a showing.

KENA wrote:The DOW is the only one that is good today.May next week the NAS and RUS will make a showing.

Dow strong, means big guys are trying hard to hold some big caps so as to make the other index look not ugly. this implies big guys want to go up.

Cobra,

Thoughts on if today is in any way similar to 2/5/2010 or 7/1/10...feels weaker than both...but more similar to July 2010.

nonabear wrote:Cobra,

Thoughts on if today is in any way similar to 2/5/2010 or 7/1/10...feels weaker than both...but more similar to July 2010.

not 07/01/2010, because that was already the 3rd leg down on the daily chart. Nowadays we're still on the 2nd leg down if not the 1st leg down, so too early to call bottom.

Cobra,

Totally agree there is more downside in our future...but this could be some sort of short term bottom here...that is what I am looking for...but have to see how Monday plays out.

Cobra wrote:

KENA wrote:The DOW is the only one that is good today.May next week the NAS and RUS will make a showing.

Dow strong, means big guys are trying hard to hold some big caps so as to make the other index look not ugly. this implies big guys want to go up.

Thanks I did not realize that

well, guess that's it for today. a hammer again on the SPY daily chart, interesting. I don't think the low was in but cannot deny that we may already in the middle of a strong rebound. Thank you guys, I'll see you the next Monday.

i'll add my 2 cents to the short term bullish camp.
looking at the $SPXA50R:$SPXA150R value of 0.26 some bottom may be in.
here is the original post on the subject:
http://www.tradersnarrative.com/finding ... -4021.html
this is basically a reversion to the mean indicator. you can easilly look at the chart in stockcharts.