Cobra's Market View

I think about a downward pressure on the markets.

Not many want to buy at this high at weekend.

rumor says michigan will be good. market is pricing it in.
let the bulls run. no guts to hunt now.

stockcycle wrote:I think about a downward pressure on the markets.

where is it?

soku wrote:rumor says michigan will be good. market is pricing it in.
let the bulls run. no guts to hunt now.

yesterday's bad numbers did not help.

stockcycle wrote:I think about a downward pressure on the markets.

I think about winning the lottery

trend line resistance, overall, it's bullish though.

if you're day trading large lots for dimes and nickles,
watch NQ, at this moment it's breaking first both up and down

dow leading the board is unusual and maybe deceptive
all GE BA HD JPM etc

soku wrote:rumor says michigan will be good. market is pricing it in.
let the bulls run. no guts to hunt now.

just slightly beat expectation. now things getting interesting. i think a pull back is due, but not sure how is the damage. it is still not tradeable to me

Cobra wrote:trend line resistance, overall, it's bullish though.

9:57aSeptember UMich consumer sentiment rises to 57.8

Better than expected !

UNG is at its recent lows if one want a swing trade back up to 10 ish. Been working recently for a couple % over a couple of days.
Appears to be basing at this level. However could be in a overall downtrend, so caution

keesa wrote:

stockcycle wrote:I think about a downward pressure on the markets.

where is it?

I think about TradingMarkets rulls and Cobra 1 red day among 7 days and about the weekend day.

MajorEasy wrote:if you're day trading large lots for dimes and nickles,
watch NQ, at this moment it's breaking first both up and down

nevermind
ES leads the way in my book

stockcycle wrote:

keesa wrote:

stockcycle wrote:I think about a downward pressure on the markets.

where is it?

I think about TradingMarkets rulls and Cobra 1 red day among 7 days and about the weekend day.

Also I think today no need to be a green day but enough to kill all the PUT buyers of the month.

Bears have no bite. Weak push down

SPX
Targeting 1124 on this leg down.
http://99ercharts.blogspot.com/2011/09/spx_2249.html

Isn't SPX from the chart look like a butterfly?

soku wrote:

soku wrote:rumor says michigan will be good. market is pricing it in.
let the bulls run. no guts to hunt now.

just slightly beat expectation. now things getting interesting. i think a pull back is due, but not sure how is the damage. it is still not tradeable to me

the pull back is very small, but there is still some damage. now the 1214.5 peak seems very top heavy.
this month is quite balanced. i don't expect killing event from either side. in short, today doesn't seems to be a fun day to me. calling today off. see you monday.

The rumor is the printing press bazooka is coming out. Coordinated money printing get out of the way bears at least untill we roll over from being over bought which could start on monday.