Cobra's Market View

All about resistances: http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p05969753131&a=208600353&listNum=3 And Cobra, how's your Egyptian brother, still in hiding? I called him last night, left a message to his secretary. Hopefully he's fine. He always says th...

First of all I'm not bear, let's make this very clear, I'm a snake. But before bulls yelling "told you so", be careful of who's leading the market.

Big picture, still pretty much my evil plan goes on, but keep going higher and higher my plan would be dead.

The open.

All I saw a couple of weeks ago were posts about how we were going to at least 1220. Proves how it pays to ignore the predictions and follow the market. Bears are getting killed. Gap, gap, gap, gap, gap. We are getting overbought, but pullbacks will most likely be shallow. Look at QQQQ. Since when ...

biotrader wrote:Cobra- are there stats to say that larger gaps usually do not get filled?

Yes, large gap above last day range usually don't get filled.

Huge gap up above yesterday's range so chances are that the gap won't be filled and hopefully we could see a trend day again today. 1.png Retailers are still very very bullish. 2.png 3.png I don't see much institutional accumulation here but today may change everything since it's gapped up. Stocktim...

Unmads wrote:does bbs.cobrasmarketview.com has mobile version?

I don't know if this bbs software support so. Will check.

Well, I guess that's it for today. Bull had a great day. Now it's bear's turn at least seasonality says so, I however didn't see any signs of bearishness in today's action YET (subject to change at anytime), so recommend at least not heavily bet on the bearish seasonality in the following 2 days. Th...

The previous high.

Could be a rising wedge here.

AK84 wrote: What about short at 3rd last day of the month and cover next or next to next day ? Does that still apply today if you're holding your long ?

The long I'm holding now is for short-term model so I have to hold in order to strictly follow the model.

Cobra, I assume your evil plan is for a small break above the highs of yesterday, then a move down. Will you short this move down and how far down to you expect the 2 legged down move to go? If it breaks above 132.5, will that invalidate your evil plan? Thanks Yes, I'll short but only if bears show...

Overshot.

DCS wrote:Wow - I didn't expect anything above 1316 this afternoon. Nice long Cobra. Are you holding or exiting today?

I removed my stop and will watch closely until close. Strong move thru 1321 might convince me to exit, but I'm actually pretty comfortable with my short here.

I'll hold.

No comments. Overshot would be the signal to take partial profits

So far goes as planed. A decisively breakout would make my evil plan invalid though.

By the way, Bearish Engulfing is very very very very bullish only since year 2000. Longer term history doesn't show any edges. That's daily bearish engulfing. Weekly bearish engulfing is bearish, that's for sure, although it also means a rebound the next weekly bar.

Not at all. A healthy and opposing point of view keeps everyone sharp, as long as it is cordial, and substantiated by analysis. Emotional remarks without substantive evidence is what is bothersome. And yes, I think Cobra has done a wonderful job of educating us on the one thing us TA folks need, th...

Breakout, yes!