Cobra's Market View

chart explaining my target

uempel wrote:I guess I've been waiting too long, been too bullish for today.

Welcome back ! You were missed~!! Hope you had a nice vacation!

I have been short for the whole week. I put in a conditional order last night to cover half the shorts @ 1220 SP, and look what happened. I covered half at 1220. Dammmm

pullback target met, let's whether it's being bought again.

99er wrote:ultramarine

SPX target based on AB=CD pattern (drawn in gold) and may be reached by next Wednesday.

Thanks 99er. So if I understand you correctly, AB is the move down to 1230 to 1140 for 90 points. And you are expecting the same magnitude and time frame for the move lower from 1220 to 1124. Does the market always mimic previous moves so closely? Not always, but sometimes....

shumushu wrote:chart explaining my target

Shumushu, trying to learn. Why did you begin the left box where you did? Thanks

trend line support.

champix wrote:Regarding crude, here is my plan for today ...
Just missed my buy for a few cents, but I am patient...

Long 1 CL @ 87.55, stop 87.25 target unchanged !

Do I make a score to day?
Here is the horn pattern I mentioned:

SPX
Progress...
http://99ercharts.blogspot.com/2011/09/spx_1305.html

volume surge, so hopefully a rebound of some kind here. I expect the rebound to fail. This time the pullback should be at least 2 legged. we'll see.

bulls have a lot of work to do to make up for that 45 minute ambush. -_-

i think they may have just started things in the nick of time. but i'm not going to trust it until the 1 minute recaptures the 200MA.

Out of calls this morn.Still holding my shorts.Calls help but don't cover all short losses but it does take the sting out .I know Cobra thinks the mkt will still hold up thru the fed meetings next week.which may be.Also on the other side if the mkts are holding up then any push up will be limited.So maybe they take the mkt dn befor the meeting and then if it is positive and Big Ben throws big bucks into easing then the mkts have more room to move up and still stay in this boreing 1140/1230 trading range.Just my thoughts and something to chew on today.Wait and see. PS.Yes and don't forget the big move dn is still on the books.

AK84 wrote:

uempel wrote:I guess I've been waiting too long, been too bullish for today.

Welcome back ! You were missed~!! Hope you had a nice vacation!

Tks, I was away from the markets, but no vacation. I'm back and the same old game with MA 377 is going on, SPX has not yet given up.

ClarkW wrote:

shumushu wrote:chart explaining my target

Shumushu, trying to learn. Why did you begin the left box where you did? Thanks

the first box is from yesterday's close to today's high, then I just duplicated the box and the target 1 is formed and is very close to the point of control. The second target is value area low of yesterday.

cobra,
any target for the rebound high?

hmmmm...could this be a one legged push down? that would fool some eh?

Ahh, I'd love to trade, but I'm just waiting, waiting.

Updates

Gold http://99ercharts.blogspot.com/2011/09/gold_16.html
Silver http://99ercharts.blogspot.com/2011/09/silver_16.html

Alright boarders and other bears:
Yesterday The Cobra, The King Cobra, our fearless leader, called for a show of hands from those here still bearish.
Okay, today raise your hand if you think The Cobra was just clownin’ around, killin’ time, he’s such a jokester that one.
Or: show of hands if you think that little snake gotta be Mensa, he does all the heavy lifting for us, then sees if he can find a contrary indicator on this board for that brilliant “evil plan” on his overnight.