OK, this looks like a breakout is in the card. This market is, speechless.
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Ok we are now in some heavy res. in the1340/42 area. Remember the saying Short res. go long on support. Anyone for it today. I was going to go short on yesterdays clo. but did not.
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breakouts like this at multiple years highs werent supposed to happen in days like today.....
Don't worry, chart will tell me if it's not suppose to. Chart never lies.
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trader wrote:Cobra, do you mostly trade indexes (ETF/future) or individual stocks?
Frankly because of my blog and the Chinese forum, I have no time for individual stocks. Now I focus only on index trading. It's not bad though because if you focus only on one thing, you pretty much can research a lot and thus have better system.
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Its true that we are making new highs. However, Internals and breadth are not as bullish as yesterday and the day before that. I am expecting the market to just chop around and maybe come back down a bit later.
Volume surge, so a little pullback could be here. Don't short, the up momentum is just strong.
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angrybear wrote:cobra is it smart to load up some march call options for the vix right now?
No idea. You know I'm expecting a sudden VIX collapse one day? So I might not bet on VIX spike for now.
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Pullback as I said. Both bulls and bears now should wait, let the market go first, let the market go first, don't be a hero...
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