Cobra's Market View

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Flat open, any gap might be filled.

The Global ES indeed was 3 push up then 2 leg down. Now since it's the 2nd test of the previous high, so there're about 50% chances of Double Top here. Let's see.

members only update starts here: http://www.cobrasmarketview.com/2013/02 ... ay-update/

possible pennant on DAX, so might continue down sometimes later. I still believe there'll a rebound to test the previous high though.

good morning cobra

AAPL “analysts”
“It may be no coincidence that the only analyst who even came close to calling the peak in Apple’s stock runs his own firm and is compensated based on the accuracy of his calls... [he]... founded his firm a decade ago after spending many years in research at Merrill Lynch and Lehman Brothers. ‘I saw so many conflicts of interest in trading, investment banking and research, so I started a conflict-free company’...”
“...market regulators don’t measure the performance of Wall Street’s research recommendations ... they should require firms to disclose the track records of stocks their analysts recommend.”

http://www.nytimes.com/2013/02/09/busin ... d=all&_r=0

AAPL Review

Lots of meat potential...Must hold 473.

the open.

Unique wrote:AAPL Review
Lots of meat potential...Must hold 473.

NICE charts
THANKS

Al_Dente wrote:good morning cobra

AAPL “analysts”
“It may be no coincidence that the only analyst who even came close to calling the peak in Apple’s stock runs his own firm and is compensated based on the accuracy of his calls... [he]... founded his firm a decade ago after spending many years in research at Merrill Lynch and Lehman Brothers. ‘I saw so many conflicts of interest in trading, investment banking and research, so I started a conflict-free company’...”
“...market regulators don’t measure the performance of Wall Street’s research recommendations ... they should require firms to disclose the track records of stocks their analysts recommend.”

http://www.nytimes.com/2013/02/09/busin ... d=all&_r=0

Good article, thanks for sharing Doc

ClarkW wrote:

Al_Dente wrote:good morning cobra
AAPL “analysts”
“It may be no coincidence that the only analyst who even came close to calling the peak in Apple’s stock runs his own firm and is compensated based on the accuracy of his calls... [he]... founded his firm a decade ago after spending many years in research at Merrill Lynch and Lehman Brothers. ‘I saw so many conflicts of interest in trading, investment banking and research, so I started a conflict-free company’...”
“...market regulators don’t measure the performance of Wall Street’s research recommendations ... they should require firms to disclose the track records of stocks their analysts recommend.”
http://www.nytimes.com/2013/02/09/busin ... d=all&_r=0

Good article, thanks for sharing Doc

ps clarkie WTF is spy doing 5min
oy what a mess

SPY 5min, I really don't know what to think of the ES last night but that it was a retest again of the breakout on Friday if the trend is higher from here, follow the trend line again and wait for breakout either way from rectangle, momentum still rising

Heck if I know. Looks like she MIGHT break up soon. BTW, just found this chart and it's labeled "SPY Harapa SPY Setup".

Al_Dente wrote:

Unique wrote:AAPL Review
Lots of meat potential...Must hold 473.

NICE charts
THANKS

thanks i appreciate your charts very much too.

Al, you see GDX dipped below support for a second and now higher. I will try to monitor this move up (if it happens) for a possible evil entry

Apple closed gap, upper broken trendline is around 494...

ClarkW wrote:Heck if I know. Looks like she MIGHT break up soon. BTW, just found this chart and it's labeled "SPY Harapa SPY Setup".

I’m watching that spy NEW HIGH 2/11 yesterday = 151.90
For reference
vs 2/8 hi = 151.89

if we don’t break out “convincingly” (as cobra would say)
I think he’ll call it a doub top
ps these are lunatic candles on the 5m

TraderGirl wrote:Apple closed gap, upper broken trendline is around 494...

TG I don't like your H&S target on AAPL...can you lighten that shade? It's scaring me

ClarkW wrote:Al, you see GDX dipped below support for a second and now higher. I will try to monitor this move up (if it happens) for a possible evil entry

OT
oy that was quick
new hi 151.96
looks like some stops need to be taken out

TG what's your take on UVXY?

remember no failure allowed for bulls here. must be up and up and up or consolidation, absolutely no sharp pullback, because it's the 2nd test of the previous high.