Cobra's Market View

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Huge gap down below yesterday's low so the gap might not be filled.

The Global ES now favors bears (say 60%), as looks like the 2nd (well, 3rd) test of the rebound failed, a possible Double Top could be in the forming. The reason I say 60% is because if bulls can rebound from here then the chart pattern could be seen as an Ascending Triangle therefore favors a little on bulls. So kind of key time now.

members only update starts from here: http://www.cobrasmarketview.com/2012/11 ... ay-update/

a bearish reversal bar on DAX doesn't look good.

euro is in danger of forming a double top here.

Cobra wrote:a bearish reversal bar on DAX doesn't look good.

is it bearish engulfing? > bullish?

SigmaEcho wrote:

Cobra wrote:a bearish reversal bar on DAX doesn't look good.

is it bearish engulfing? > bullish?

Might now work on DAX. Bullish Bearish Engulfing applies only on SPY.

Cobra what about oil and gold futures? Thanks!

L_T wrote:Cobra what about oil and gold futures? Thanks!

Aside from cash, ABX is the only thing in my portfolio that looks good.

Cobra wrote:

SigmaEcho wrote:

Cobra wrote:a bearish reversal bar on DAX doesn't look good.

is it bearish engulfing? > bullish?

Might now work on DAX. Bullish Bearish Engulfing applies only on SPY.

Wow, that went fast. Got out of DAX without too much damage. Interesting, because everything looked so good for a breakout to the upside. These kind of events show the limits of TA...

L_T wrote:Cobra what about oil and gold futures? Thanks!

will update in public chart list tonight. right now, wait and see. Seems gold is good now.

the open. a little too stretched, so may see a rebound first.

first level of support?... bounce? or lower lines first.

I'm trying to trigger a rally. I sold my KOL.

Yeah! My shorts are just doing fine.

L_T wrote:Cobra what about oil and gold futures? Thanks!

This is silver, cloud butt. QE boost to PM's getting passe?

be careful... breaching the uptrend? or bounce? SPX daily.

My last statement yesterday:
"Today was a turn date, and tomorrow is another...today looks like a high...."

This is the chart I drew yesterday afternoon after reviewing my wave count on DOW...

Yesterday some guy here in Cobra's Forum read this chart better than I. I believed the thrust would go up to 1445 before SPX turns, but he said 1433 and right he was

“Rochdale Securities LLC, the brokerage that employs bank analyst Dick Bove, is in advanced talks to save the firm after unauthorized trades in …AAPL… went sour…... a trader bought $750 million to $1 billion in Apple shares last month without permission…. The stock then dropped in value by a few million dollars and depleted the firm's cushion against losses…. Closely held Rochdale had $3.44 million of capital at the end of last year, according to a regulatory filing.”

http://seekingalpha.com/article/981031- ... view&ifp=0