Cobra's Market View

Posted: **Fri Aug 05, 2011 11:02 am**

edwindes wrote:
Cobra wrote:well, as I said yesterday, the 4th leg down and unfortunately it's still strong, so need more evidences before calling a possible reversal. this market really is sick.
Hi Cobra,
Do you watch TRIN to determine if a trade-able bottom is in? I notice TRIN today is not as high as the last 2 days and the reason is that the up volume to down volume ratio is about 10x better than yesterday. Is this a sign that the selling this morning was panic orders issued last night that were executed this morning and that the big boys were buying here?
Appreciate your views.
TIA,

edwin

Nowadays TRIN is not reliable (although I'll try one more time to investigate to see if I can find any edges) because lots of bank stocks are very small price with huge volume so their actions affect the TRIN a lot.

Posted: **Fri Aug 05, 2011 11:03 am**

BullBear52x wrote:side ways it is, now we are grinding into a boring phase
I am done today, Thanks Cobra may the power that be bless your account. I just know this week that the snake is wearing glasses.

Cobra in Chinese means a glasses wearing snake.

Posted: **Fri Aug 05, 2011 11:06 am**

uempel wrote:Check out green Andrews Fork, should hold. I'm still long (bought yesterday at 1209) and have not covered yet.
SPX2.png

will u hold long over the weekend ?
thats what i really want to know coz i know we are close to a bottom but damnnn if im wrong we are burning on monday . hold or not to hold

Posted: **Fri Aug 05, 2011 11:09 am**

Like all the other info the Dorsey Wright P & F charts are indicating maybe a short term bounce.The NYSEBP has gone dn very fast to 38%.At 40 % a bounce can happen. How Long??? Wait and see.

Posted: **Fri Aug 05, 2011 11:11 am**

AK84 wrote:
uempel wrote:Check out green Andrews Fork, should hold. I'm still long (bought yesterday at 1209) and have not covered yet.
SPX2.png
will u hold long over the weekend ?
thats what i really want to know coz i know we are close to a bottom but damnnn if im wrong we are burning on monday . hold or not to hold

I don't know yet. Might hedge half the position... The end of the world media-comments are too bearish in my view and I'm in a bullish mood

Posted: **Fri Aug 05, 2011 11:12 am**

trust_yr_instinct wrote: the only big question is, do you believe this is the END of the bull that started march 09 ??

20 month sma at 1201, monthly close below that and it's a bear market, for one to a few months after that any rally back up to 20 month sma would get sold off.

from zortrades - http://zortrades.com/wp-content/uploads ... xblog1.png

Posted: **Fri Aug 05, 2011 11:14 am**

key time, retest of the morning low. let's watch.

Posted: **Fri Aug 05, 2011 11:15 am**

99er wrote:Crosstown Traffic
SPX http://99ercharts.blogspot.com/2011/08/spx_6709.html

Or as Jimi would have it...
http://www.youtube.com/watch?v=YUCNsZXCd58

99er,

could you please post your silver chart?

Thanks!

Posted: **Fri Aug 05, 2011 11:15 am**

vix making new highs. my next support on /es is 1182-81 but after that it's bad ...

Posted: **Fri Aug 05, 2011 11:16 am**

measured move, by the way. personally I don't believe the target yet, but as usual, whether I believe it or not doesn't matter. what matters is I provide unbiased info to help you to decide.

Posted: **Fri Aug 05, 2011 11:18 am**

volume surge, possibly a rebound is close, let's see the next bar.

Posted: **Fri Aug 05, 2011 11:19 am**

SPX
http://99ercharts.blogspot.com/2011/08/spx_7885.html

Vrooom.

Posted: **Fri Aug 05, 2011 11:20 am**

Long /ES 1182.25 stop 1179.0

Edit: the stop will activate on a 5minute close.

Posted: **Fri Aug 05, 2011 11:21 am**

'This is it...." 61.8 FIB is waiting for us.

http://www.youtube.com/watch?v=S34zC9ss ... re=related

Posted: **Fri Aug 05, 2011 11:22 am**

uempel wrote:Check out green Andrews Fork, should hold. I'm still long (bought yesterday at 1209) and have not covered yet.
The attachment SPX2.png is no longer available

Well, green Andrews Fork did not hold

Posted: **Fri Aug 05, 2011 11:25 am**

Silver
Update.
http://99ercharts.blogspot.com/2011/08/silver_05.html

Posted: **Fri Aug 05, 2011 11:26 am**

Cobra wrote:measured move, by the way. personally I don't believe the target yet, but as usual, whether I believe it or not doesn't matter. what matters is I provide unbiased info to help you to decide.

Lately Europe's close at 11.30 am was followed by a bullish move (except yesterday)

Posted: **Fri Aug 05, 2011 11:26 am**

ok guys fcx, one of my main market tells ,just lost 46..

Posted: **Fri Aug 05, 2011 11:31 am**

im so close to just closing all my longs and saying F it and wait . i got in long at down down 300 yday on some single stocks and im hurting. its annoyingggggggggggg meeeeeeeeeeee. im sooooo closee......

but as soon as i bail, the market will put in a short term bottom . helpppppppppppppppp

i cant have more sad faces!

Posted: **Fri Aug 05, 2011 11:31 am**

uempel wrote:Well, green Andrews Fork did not hold

This is unreal

Cobra's Market View

08/05/2011 Intraday Watering

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