Cobra's Market View

Bottomless. The closing bell is the only hope to stop bleeding. cashed out put contract again and bought some IWM call.

From Zero Hedge:

The NY Fed just asked primary dealers to come downtown today at noon to meet with Fed and Treasury Dept officials. We expect to hear them outline a contingency plan for next week. Details to follow.

hiram wrote:

cougar wrote:NDX 130 min: the image of complacency

why do you say that?

thanks hiram

Because, IMHO, the internals should reflect a DEEP concern on the fate of the NDX …and they don’t…

VIX target reached...
Out of Sep calls!
Discipline!

strong rebound here then indeed it's the 3 push down, so the current bar is very important. bears don't want to see a strong bull bar.

Copper
Update.
http://99ercharts.blogspot.com/2011/07/copper_29.html

Cobra wrote:strong rebound here then indeed it's the 3 push down, so the current bar is very important. bears don't want to see a strong bull bar.

Great opinion, Cobra!
Please give us your "rating" for the next bar!

Cobra: do you mean we may have a down to 1278 if bull not strong??

cougar wrote:

Cobra wrote:strong rebound here then indeed it's the 3 push down, so the current bar is very important. bears don't want to see a strong bull bar.

Great opinion, Cobra!
Please give us your "rating" for the next bar!

that'll be after 11:00am ET.

oldpigwang wrote:Cobra: do you mean we may have a down to 1278 if bull not strong??

breakdown below the opening low is the MUST!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

cashed out call contracts for small profit. that's it for me today. money will be made again next week regardless the decision. not holding overnight. good luck trading everyone.

RUT
Update.
http://99ercharts.blogspot.com/2011/07/rut_29.html

99er wrote:RUT
Update.
http://99ercharts.blogspot.com/2011/07/rut_29.html

you mean 772, right?

anyone else see phantom bar down to 128 in SPY?

pablorynx wrote:anyone else see phantom bar down to 128 in SPY?

I call it a bad tick. I see one, but those bad ticks don't necessarily point in the direction of the next move. Sometimes they mark the bottom or top.

pablorynx wrote:anyone else see phantom bar down to 128 in SPY?

i am using IB and see it
last P-bar is 21/7 and of course met the downside target lately ... make me scare right now ...

pablorynx wrote:anyone else see phantom bar down to 128 in SPY?

on 1 and 3 min chart not 5 min chart.

Come to think of it, it does look like it points to the direction of the next move.

silkway wrote:

pablorynx wrote:anyone else see phantom bar down to 128 in SPY?

on 1 and 3 min chart not 5 min chart.

I have it on the 1 min chart.

SPX
H&S update.
http://99ercharts.blogspot.com/2011/07/spx_6082.html