Cobra's Market View

Wolfe wave. Ratios with 127 fib are not perfect so less likely.

took one little dip to awake the honey badger. brace yourself.

The strong stocks went dn and weak stocks went up yesterday giving the bears the advantage.

Yeowwwwww
Short china FXP jumped to the top of my NARROW watch list, best performer INTRADAY ONLY
I guess nobody cared about the stimulus?
Here’s more china chatter I've been reading, if u r interested

“China should prepare for economic uncertainty…The Communist Party's mouthpiece newspaper said the government had the flexibility to … “
http://finance.yahoo.com/news/china-pre ... 4.html?l=1

“… The four biggest bubbles of the last 40 years... with Iron Ore the clear winner...and...”
http://www.zerohedge.com/news/marc-fabe ... to+zero%29

OR. nothing to say, wait for breakout, could be on either side.

Ratios look great on SPY. Touch of the blue Wolfe line.

Here is world-ish… so far today….[EWT is an imperfect proxy for Hang Sen $HSI]

Took small profits on my shorts..It took to long this time to show an average out profit..Looking for more and different stocks..I also have a feeling the mkt may go up a bit befor pulling back..But lets see.

Been scalping with a hedge but starting to creep in long at new lows.
My technicals are softening but still have the longer term trend as up.
Should be a fair amount of support between SPX 1390-1400.
Would go back to neutral if that fails.
Seems reasonable that we may get a short covering some time next week prior to Jackson Hole.
Today's close will be telling.

nasadq -0,09%
$nadnv:$naupv = 1.79

the last time $compq was up 1,1%, $naupv:$nadnv was just 2.4 or so

volumes are always in "sell mode" for many months now..

Cobra wrote:OR. nothing to say, wait for breakout, could be on either side.

are you neutral here Cobra?

Another round of QE would drive the price of corn and oil through the roof, just the opposite of what you want to do in a weak or recovering economy. Why would the Fed launch more QE when the markets are at multi-year highs also? I just do not understand the logic of wall street, or is it all just a massive load of BS to get prices at this level so they can sell.

Mr.Spy, could you restest the highs, please ?

EvilTrader wrote:Mr.Spy, could you restest the highs, please ?

gap closed. Now lets try the other direction please

Aapl and Indu both green.

A/D says “chop day” at the moment……but the covering bears didn’t get that memo

GM,
Tick tick tick

sloth wrote:Another round of QE would drive the price of corn and oil through the roof, just the opposite of what you want to do in a weak or recovering economy. Why would the Fed launch more QE when the markets are at multi-year highs also? I just do not understand the logic of wall street, or is it all just a massive load of BS to get prices at this level so they can sell.

I will go for the BS.

wayne0708 wrote:

EvilTrader wrote:Mr.Spy, could you restest the highs, please ?

gap closed. Now lets try the other direction please

Not until touchdown!

sloth wrote:Another round of QE would drive the price of corn and oil through the roof, just the opposite of what you want to do in a weak or recovering economy. Why would the Fed launch more QE when the markets are at multi-year highs also? I just do not understand the logic of wall street, or is it all just a massive load of BS to get prices at this level so they can sell.

I will go for the BS.