Cobra's Market View

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Flat open, so any gap will be filled.

The Global ES so far goes exactly as illustrated in my last night report. It failed on the upside TWICE, forming a lower high, so now it shall try on the downside, therefore the picture does not look good for bulls now. I see a possible Symmetrical Triangle in the forming which usually means continuation, which in our case, means continuation on the downside. The good news is, usually triangle means wave 4, so chances are the continuation on the downside could be the last push down.

Good morning, Cobra!

What's the textbook target if this triangle should break to the downside?

GM


Preferred waves, I am very curious about hedge funds reaction at 1371, they can change the game for a while...btw "lottery ticket" from 30th march goes according to plan

GLTA

stucap wrote:Good morning, Cobra!

What's the textbook target if this triangle should break to the downside?

need breakout first, otherwise cannot be measured.

the open.

Cobra wrote:the open.

must close gap must close gap must close gap must close gap must close gap must close gap must close gap must close gap must close gap must close gap

stucap wrote:

Cobra wrote:the open.

must close gap must close gap must close gap must close gap must close gap must close gap must close gap must close gap must close gap must close gap

gap closed. doesn't look like we're going to see any selling for a bit though. because we also broke the overnight channel. bias bull?

Anyone long SVU or positioned for straddle/strangle before earnings? You are sitting pretty now either way.

L_T wrote:Anyone long SVU or positioned for straddle/strangle before earnings? You are sitting pretty now either way.

i'm long but still about a buck below my CB. Nice pop though. hope it can hold!

AAPL route is clear now. According to the annotation on the chart, you should know the answer, shouldn't you?

KeiZai wrote:GM


Preferred waves, I am very curious about hedge funds reaction at 1371, they can change the game for a while...btw "lottery ticket" from 30th march goes according to plan

GLTA

Nice chart now lets see how it works out..Thanks again on the up date on the chart this weekend.

Watch the oil - Iran cutting off all shipments to europe

Looking for 1370 this week.

I thought it's the other way around. Ban oil from Iran.

KeiZai wrote:Watch the oil - Iran cutting off all shipments to europe

Me XMan wrote:Looking for 1370 this week.

For me just closed out shorts not watching 1370 as a potential backstop to a long as a counter trend trade. No positions yet, but I think 1370 may hold. If it doesn't hold time to get back on the short train.

SVU may not last. Too much competition from others like Target, Walmart, Costco, ect...

L_T wrote:Anyone long SVU or positioned for straddle/strangle before earnings? You are sitting pretty now either way.

FYI...The P bars from yesterday are still on the charts at 139.84.Lets see

OK, here's answer for my AAPL analysis: http://stockcharts.com/public/1684859/c ... /260183775;

stucap wrote:

L_T wrote:Anyone long SVU or positioned for straddle/strangle before earnings? You are sitting pretty now either way.

i'm long but still about a buck below my CB. Nice pop though. hope it can hold!

i doubled my position recently, so am now in the green. long term, i want to see 7 and change as my target. a break below today's low and i'm out.

i'm not crazy about SVU, but at the end of the day, it's doing a lot of right things, paying down debt, managing expectations, etc. etc. with that being said, it's still in a ridiculously leveraged, no margin, highly competitive market.

bulls need work hard here to make it double bottom. go bulls go!