Cobra's Market View

Ben loves tasty fresh bear meat!

just kidding! - Nasdaq and Rut do seem to be stuck at the gaps.

tomorrow is the gloss over employment report that is sure to fire up the bulls unless CIA stirs up the middle east some more![/quote]

For day trade, I can not buy here, but to short here, win or loss back in cash by the day's end.

I know uncle Ben is working over time these days.

on tomorrow job report, remember Feb's report? strong ADP and up on Thur and disappointment on Fri?

I doubt they will send out disappointing numbers.

balance wrote:on tomorrow job report, remember Feb's report? strong ADP and up on Thur and disappointment on Fri?

Cobra wrote:

Simsonic wrote:

Cobra wrote:Gap up, 10:30am ET new intraday high, so 90% chances today close > open. But still today doesn't feel like a strong uptrend day SO FAR.

And how are you getting that "feel" Cobra?

I see spx at 1325. It hasn't hit 1328. if it closes here and waits till tomorrow then breaks and closes above, the bears are dead for 3 weeks. Just my take.

A strong up day shouldn't like this. I cannot say the exactly words, just a feeling. I might be wrong.

Every bull is aware that Gaddafi is at large and that he might play all kinds of games this weekend.

I see selling pressure increase on both TICK/TICKQ, wait for VIX > 18.75 bear will have a chance to scalp.

simpletrade wrote:Ask the SINA question again, from charts only, yesterday, huge volume(6x average), hammer, double bottom, today up with the market, does this confirm it had the short term bottom?

From wolfe wave, it will look like this
http://content.screencast.com/users/Bal ... na0303.png

FWIW

Every bull is aware that Gaddafi is at large and that he might play all kinds of games this weekend.[/quote]

Gaddafi is doing exactly what he is supposed to do - drive the price of oil up and give the Pentagon a reason to expand our wars...

engineering chaos so as to provide a solution! Remember Bush met with and reconciled with Gaddfi - you can believe this was all started then and there.


On Monday, Gaddafi accomplished one of history's great diplomatic turnarounds when Secretary of State Condeleezza Rice announced that the U.S. was restoring full diplomatic relations with Libya

Read more: http://www.time.com/time/world/article/ ... z1FYyKOYQw

For a new daytrader ,I think it is a boring day!

Every dip is getting bought.
BTW, it market closes over 1330 then another gap up tomorrow?

Still under some pressure.

10Y Note
Bonds, Ben. Bonds.
http://99ercharts.blogspot.com/2011/03/10y_03.html

H2 long on the very first time pullback to EMA20 on an uptrend day.

Rates going up? Not good for housing.

99er wrote:10Y Note
Bonds, Ben. Bonds.
http://99ercharts.blogspot.com/2011/03/10y_03.html

5 min answering the call!

Middle line of large Andrews Fork blocking the bullish path:

http://stockcharts.com/h-sc/ui?s=$SPX&p ... &listNum=2

cobra, on a bigger picture, since your non stop model is in sell mode, and since we are retouching the highs again, does it mean to get out of shorts? after such a day as today?

bear33 wrote:cobra, on a bigger picture, since your non stop model is in sell mode, and since we are retouching the highs again, does it mean to get out of shorts? after such a day as today?

NO. Non Stop only get out of short when there's long signal, for now, no. And by the way, I said short for aggressive traders only. Nomrally, this kind of trend following system has below 50% winning rate, it relies on long lasting trend to earn money, so be careful here.

It was a good H2 long, started slow but turns out good. Now let's see how this trend line resistance works.

This is a melt up. Support is building for the bulls. If this holds and no new bad news from Libya, expect some explosive moves upwards.

NDX
Bearish Butterfly back testing lower boundary of Rising Wedge.
http://99ercharts.blogspot.com/2011/03/ndx.html