Cobra's Market View

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3 push down? therefore rebound due soon?

members only update starts here: http://www.cobrasmarketview.com/2018/11 ... ay-update/

Late day sell off yesterday and a continue push down is bad enough to cause $NYSI to turn red. not looking good for bulls.
on CPC and CPCE, the panic is at its high, warren buffett will get in line to buy here.

Intraday I am with the old man, buy this dip for now and will see.

Resistance to watch is now 720 ish....

Wild ride on SMH so far. Up 1/2%, down 1/2%, up 1/2% all in the first 10min bar.

Daniel wrote:Wild ride on SMH so far. Up 1/2%, down 1/2%, up 1/2% all in the first 10min bar.

back in the day I will be all over Semi conductors right now. AMD, MU, INTC, AMAT, KLAC..... today I don't even know what they do

BullBear52x wrote:AMD, MU, INTC, AMAT, KLAC..... today I don't even know what they do

You don't need to know what they do. You only need to know what they're doing. Right now they are going UP. ..

First 15min bar, SPY QQQ IWM all undercut yest's low--and reclaimed it. QQQ is currently still green (just barely).

Today AAPL is leading to upside, not down-- WAS up over 1%, now has faded some.

8:50am

Looks like the FE=LE meaning the FE is low and the push will be up.
My indicator for dir = directin of the day from LOD/HOD is up - but I am going against this as I think it will go up first to make a HOD and then reverse.

My ESTIMATES are:
H=2726.50
L=2677.50
with HOD first.

(Last night was 2729.25 and 2688.75)

When it starts this low usually shorting doesn't work well.
(I did have some indications to 2750 area - so be careful to see confirmation of the HOD in if you are shorting)

XLY is esp weak, down nearly -2%. ITB is even worse-- down > -3.5% And this is with interest rates falling, which is good for the homebuilders.

I am on sim today
first trade on sim is long.
L2696 and starting to look dicey.

Could be a lot of whipsawing for a while as there is so much indecision out there.

GLTA

not intraday
“Percent of Stocks Above 50ma” (eod)
The weakest are the red boxes; the strongest are the green boxes
oy

daytradingES wrote:I am on sim today
first trade on sim is long.
L2696 and starting to look dicey.

Could be a lot of whipsawing for a while as there is so much indecision out there.

GLTA

Like your numbers, lets make some money

XLF 26.50 was recently posted on this board as a "line in the sand" figure. XLF is currently still below that, after a quick rally failed at/around gap fill. Currently fading-the-fill.

KRE is also currently down about -1/2%.

Thanks Al.

A few days back you mentioned funds needing to sell (around the 15th?) -risk neutral funds?
What 's your radar say on fund selling today and tomorrow?

Daniel wrote:XLF 26.50 was recently posted on this board as a "line in the sand" figure. XLF is currently still below that, after a quick rally failed at/around gap fill. Currently fading-the-fill.

KRE is also currently down about -1/2%.

you bet. far as i'm concerned, no bear on till that is taken back with conviction. lots of fed guys blabbin today, hmmm.

BullBear52x wrote:

daytradingES wrote:I am on sim today
first trade on sim is long.
L2696 and starting to look dicey.

Could be a lot of whipsawing for a while as there is so much indecision out there.

GLTA

Like your numbers, lets make some money

ok my friend!

Be careful they are low confidence numbers.
My model is for less volitile conditions

My bankroll is too small for today's whipsaw ... so Let the Force be with You.
make some ca-ching for both of us!! :LOL

GDX/GDXJ both up >1% so far today.