Swing Charting was mentioned yesterday so I'm posting an update to my Daily Minor Trend Chart. Which also fits well with the cycle talk mentioned here today.
Everyone here sounds like they're doing so real good stuff in this choppy market.
seeyou wrote:Hello Cobra ...I have been a lurker for months ....I have a question about your outlook for next week. is week after Memorial bullish?
yes, statistically.
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Looks like a breakdown and backtest. Furthermore, look at volatility cycling low again on silver. Volatility troughs tend to be near peaks in silver during downtrends. This could mean silver sells off rather sharply over the weekend.
alvian33 wrote:cobra, do you expect a rally into the close?
no idea. VIX is rising so probably not.
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StrikePrice wrote:Swing Charting was mentioned yesterday so I'm posting an update to my Daily Minor Trend Chart. Which also fits well with the cycle talk mentioned here today.
Everyone here sounds like they're doing so real good stuff in this choppy market.
StrikePrice: I am not one of those! However, in this choppy market, systematically writing options, for weekly expirations, works while following the classical “trend discovery + confirmation, resulting in directional swings” is not very successful…This discrepancy is precisely due to the choppiness that your chart is showing.
cletus wrote:Trouble for silver bulls. Why not believe someone who got the calls right? I just made 30% in 8 days in one entire account trading silver long, now short.
andyway wrote:What will drive this rally next week with vix as low as it is and the euro rally in doubt ?
some of us have been asking the same question for the past 2 years including me... YES WE CAN don't need any reasoning.
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Andyway,
I am not laughing at you, just Cobra's answer is truth about this market. I believe this market does not follow any reasoning/s. Everyone was talking how badly financials are doing. If Financials start rallying next week, Mr. market goes up higher. Darn, I wish I had a brother who works for GS.
still a little shy of my mini pullback target. still looks like a bull flag, so the action is not bearish.
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