Cobra's Market View

Pullback only after DOW ATH

QED wrote:Reverse POMO seems to be working well today!

Worked on the way up so should work on the way down

Small caps leading the way down.

cletus wrote:Did I not say 3,000 on S&P? Yet the doubt remains for many. Their doubts will cease soon enough.

You're still a long way from Kansas Toto.

1der wrote:fwiw -
SPY PBar at 281.63 is still out there not yet filled. I have not seen any higher SPY PBars going back 12 mos.

Dont we have a 275.52 pbar on the downside as well? I think i remember that one specifically.

What better place to park it for the weekend then the 200d SMA!!!! Keep us guessing for Monday.

miagi pbar to 202.99 looking good.

Gappy really great read. Thanks for your thoughts and for the link. I absolutely love to read the thoughts and feelings of really intelligent people. They have always intrigued me with their thinking and vision (I guess its because those are two things that I lack, therefore I search for it in other...

UPS weekly chart......Time for some shorting. May be a little more upside but an intermediate top is close at hand.

http://stockcharts.com/h-sc/ui?s=UPS&p= ... &listNum=1

Paging KEIZAI. I am not an Elliot Wave guy so I was wondering if you had a wave count on SBUX. I shorted after the 50 DMA and the trendline was taken. Now i will watch to see if this is the good night kiss back to the trendline. Thanks!! http://stockcharts.com/h-sc/ui?s=SBUX&p=D&yr=0&mn...

Paging KEIZAI. I am not an Elliot Wave guy so I was wondering if you had a wave count on SBUX. I shorted after the 50 DMA and the trendline was taken. Now i will watch to see if this is the good night kiss back to the trendline. Thanks!! http://stockcharts.com/h-sc/ui?s=SBUX&p=D&yr=0&mn=...

AK84 wrote:

Cobra wrote:

mylock wrote:Cobra any info on back to back gap ups and how quickly the last one closes. Really appreciate all you do for this blog. Thanks.

No edges.

http://slopeofhope.com/2011/04/another- ... _west.html

Cobra and AK thank you very much.

Cobra any info on back to back gap ups and how quickly the last one closes. Really appreciate all you do for this blog. Thanks.

Am I crazy to think I should hold my short position overnight? (Currently sitting +0.02%) What are the odds tomorrow is a large gap up and run? What is everyone thinking at this point? I see any gap up being sold off tomorrow but thats just me and thats IF it gaps up. Holding shorts for sleepovers ...

Gonna see if QQQ hits the line around 58.10 and see how it reacts to go short.

Cobra wrote:

mylock wrote:Is this is a textbook double top? Thanks in advance.

Text book double top only counts when breakdown below neckline. So your chart is still far far away from being a valid double top.

Thanks cobra.

Is this is a textbook double top? Thanks in advance.

not sure how far we will pullback. We will have to see.

I have been silently following you guys. Great forum cobra and I appreciate it. New at this so learning a lot from everyone. I think the top is in for the day and pullback has commenced.