Cobra's Market View

Gap down below Friday's range so chances are the gap won't be filled. The Global ES is in clear downtrend so rarely the very first rebound would lead us to a bull market new high simply because "Yes We Can" said "Yes We Can". Instead, the blue below got tested twice, so chances for it to hold the 3rd time is a little bit lower. Let's see.

What a weekend... good thing I sold most of my longs on Friday. Sit on hands for now.

Good Morning.

So honey...still thinking about Europe?
EURUSD http://99ercharts.blogspot.com/2011/09/eurusd_06.html

You mean something Alpine? Like Beef fondue?

Sounds good.
ES http://99ercharts.blogspot.com/2011/09/es_06.html

Do they serve it at the beach?

hey all, back to work ! been a nice vacation.... i'm guessing this gap will get filled by the end of the week like the ones previous. using stop losses but i am swing long /cl from last night @ 83.5, targets 85.37 and 86.45 gaps. my stop is 82.89. good luck all.

Good morning!
SPX: I lowered my support/target zone, for the near future, to 1145-1120.

Good Morning Everyone!!

Hope you all enjoyed the long weekend! It was nice weather up here in New York City although today there are a lot of dark clouds in the sky

I plan on covering my GOOG and NFLX puts today and will re-evaluate a little later in the day on what to do next. In my opinion, the sell off is just getting started but I need to lock in profits on my positions. I continue to Hold CMG and ANF puts and will not be covering these as yet.

I will be re-shorting on any bounce!

GLTA!!!!

PS. I am not seeing any stocks I monitor as long candidates and a lot of juicy looking shorts out there IMO that are JUST getting started!!

Cobra, another great Market Outlook. Thanks.
Has there ever been any consideration of including with the TA the Inverse of the S&P500 -- NYSE:SH?

Breakage about to happen... right before the open... gap-fill chances are dwindling here... definitely not looking good for the bulls.

Spec long play last Fri didn't work so closed it before the end of the cash session and opened up a long TVIX position. Added more to the long TVIX session during extended early morning hours today.

Keeping the rest is dry powder ready to be deployed based on today's action.

Hey honey...how do you like my new bikini?
EURCHF http://99ercharts.blogspot.com/2011/09/eurchf.html

Wow! I don't feel swissie.

Mongoose wrote:Cobra, another great Market Outlook. Thanks.
Has there ever been any consideration of including with the TA the Inverse of the S&P500 -- NYSE:SH?

Why SH? it decays like the other leveraged ETF. Simply look at long-term SH, you'll see why.

the open. if not because of the long holiday, it'd would rebound a little at least as it's too stretched on the downside. Let's wait.

bulls need to protect spx 1150 or lows will be retested.. we just lost it.

not far from support area.

Not feeling "swissie"?
SPX http://99ercharts.blogspot.com/2011/09/spx_06.html

Does that mean I should start the car?

<<<"Yes We Can" said "Yes We Can">>>. We trust and believe America !

market being held up by IYR, the new spy manipulator ... bulls beware.

Stick the forks into this pig...

Bigger picture:

Cobra wrote:

Mongoose wrote:Cobra, another great Market Outlook. Thanks.
Has there ever been any consideration of including with the TA the Inverse of the S&P500 -- NYSE:SH?

Why SH? it decays like the other leveraged ETF. Simply look at long-term SH, you'll see why.

Yes, I am aware of the decay, but thats because inverse funds dont short the underlying stock(s). By their nature they are ideal for short term trading not long term.
I was just curious of you ever use the inverse funds as a way of determining a turn in the market (as one of many tools).