Cobra's Market View

Small gap up within yesterday's range, so the gap will be filled and the day could be a range day. Usually any gap (up or down) after a Major Accumulation or Distribution day would get filled and the day tends to be a narrow range day. Well, let's see.

First. haha

"So, honey, how's the market today?"
The usual...you know, up and down.
Up: DX http://99ercharts.blogspot.com/2011/02/dollar_23.html
Down: ES http://99ercharts.blogspot.com/2011/02/es_23.html
"So when is Date Night?"

good morning, fellas.

good morning to all

Market will all day up to trap more bulls or trap aggressive bears? Who knows.... I guess Cobra knows. I will stay tune this channel.

Agree with you ,The gap will be filled.

no gap now

Crude
$4.29 for premium in West LA.
http://99ercharts.blogspot.com/2011/02/crude_23.html
Angry at Ben?

Opening. This looks like a retest of yesterday's low, the selling is strong so could be a lower low.

Hi Cobra!

With so many stocks such as PCLN , AAPL , GOOG , etc stopping their sell off at 50DMA and now bouncing today, would you think this is a good time to pick them up and go long or should one wait still more to see if there is a second leg down >

Especially with AAPL and GOOG I see the 50DMA as being strong support for as long as 1 year on the chart (with few exceptions ofcourse ) . What is you take and advice to this newbie?

Thanks.

Good morning Cobra!

good morning Cobra

so far the opening is not bad on Global ES, have back tested the yesterday's low, if by 10:00am ET, this is still the case, then I'd expect the market keeps rebounding from here.

Good morning forum!

Copper
"Risk Off."
http://99ercharts.blogspot.com/2011/02/copper_23.html
But will it bounce?

And courtesy of sentimentrader...

AK84 wrote:Hi Cobra!

With so many stocks such as PCLN , AAPL , GOOG , etc stopping their sell off at 50DMA and now bouncing today, would you think this is a good time to pick them up and go long or should one wait still more to see if there is a second leg down >

Especially with AAPL and GOOG I see the 50DMA as being strong support for as long as 1 year on the chart (with few exceptions ofcourse ) . What is you take and advice to this newbie?

Thanks.

I wouldn't think about GOOG, as it has a lower high already.

AAPL and PCLN look good so far but if you believe that this time the broad market will have a 2nd leg down, then probably you can wait, at least try smaller position first.

Good Morining.. Another day. Stocktiming.com has an alert on today. Spy and Russell in caution condition and Nas-100 in danger area. Mkt still in up trend but under duress..Liquidity still hi.

A wide range bar, so this could be an exhaustion bar expeically at a support, so bull still has hopes. Let's see how the next hourly bar goes - a little consolidation instead of sharp reversal would be bad for bulls though.