Cobra's Market View

HAHAHAHAHAAA!!

MrMiyagi wrote:Obama speaks in 10 minutes, markets just waiting on that. Odds are 50-50 he'll say "uhhh... we're...uhhh..ummm... going to bomb....ummm...the shit out of... umm ...uhh.. Syria..."....

mini inverse H&S forming mid-day here ?

Maybe not?

Al_Dente wrote:Raise your hand if u will hold longs over the weekend
No, I didn’t think so
I rest my case………..

I'm not saying I'm going long now but I think the risk of a HUGE sell off on Monday due to any military action over the weekend is low and the odds a huge rebound due to no military action over the weekend, which I think there is greater probability of IMO, is high.

MrMiyagi wrote:Obama speaks in 10 minutes, markets just waiting on that. Odds are 50-50 he'll say "uhhh... we're...uhhh..ummm... going to bomb....ummm...the shit out of... umm ...uhh.. Syria..."....

I think odds are 99% that there is no new information.

L_T wrote: ...How are internals? Has that dome formed yet on the chart you posted a while back? My intraday 5-minute systems are saying weak/wimpy/low-confidence long right now.
*EDIT: long signal being nuked by current bar......

Dome still intact boss
RSI positive divergence here (almost) but note the last pos diverg took four days to get a bounce outa spy….we’ll see
No gap fill on the upside (mkt weak). Gap almost filled on the downside (mkt weak).
btw XIV did indeed lead the way…….we’ve been yapping about that for three days…….

StudentBill wrote:I'm not saying I'm going long now but I think the risk of a HUGE sell off on Monday due to any military action over the weekend is low and the odds a huge rebound due to no military action over the weekend, which I think there is greater probability of IMO, is high.

With US markets closed for the holiday on Monday, the risk of any sell off on Monday are negligible. Tuesday, however, is another matter entirely...

TraderGirl, I wish you success on your venture. Cobra is the daytrader king, you won't be cutting into his opium supply.

StudentBill wrote:

Al_Dente wrote:Raise your hand if u will hold longs over the weekend
No, I didn’t think so
I rest my case………..

I'm not saying I'm going long now but I think the risk of a HUGE sell off on Monday due to any military action over the weekend is low and the odds a huge rebound due to no military action over the weekend, which I think there is greater probability of IMO, is high.

If price breaks out above the open, I would go 1/4 long, risking 0.2% of account on a drop below LOD.

MrMiyagi wrote:Obama speaks in 10 minutes, markets just waiting on that. Odds are 50-50 he'll say "uhhh... we're...uhhh..ummm... going to bomb....ummm...the shit out of... umm ...uhh.. Syria..."....

Yikes.

StudentBill wrote:

Al_Dente wrote:Raise your hand if u will hold longs over the weekend
No, I didn’t think so
I rest my case………..

I'm not saying I'm going long now but I think the risk of a HUGE sell off on Monday due to any military action over the weekend is low and the odds a huge rebound due to no military action over the weekend, which I think there is greater probability of IMO, is high.

good point thanks

jposner wrote:

StudentBill wrote:I'm not saying I'm going long now but I think the risk of a HUGE sell off on Monday due to any military action over the weekend is low and the odds a huge rebound due to no military action over the weekend, which I think there is greater probability of IMO, is high.

With US markets closed for the holiday on Monday, the risk of any sell off on Monday are negligible. Tuesday, however, is another matter entirely...

Very good point. I should have said Tuesday.

We are close to a fib retrace point and some resistance on this VXX Daily chart IMHO. Again, I think if nothing happens over the weekend here we might see a real face ripper of a short squeeze. A lot of these chart settings are from Clayton Tom... not trying to claim as my own.

not sure if it's higher low. I'm neutral. I didn't have plan to hold short over the weekend if I wasn't stopped because likely in the weekend the news is clear that there's no war, so a little strong close is not entirely a crazy idea.

MrMiyagi wrote:TraderGirl, I wish you success on your venture. Cobra is the daytrader king, you won't be cutting into his opium supply.

Thanks Mr. Miyagi...appreciate it...

TraderGirl wrote:Thanks Mr. Miyagi...appreciate it...

No problem... You have my email info for the lifetime free membership gift ?

Is Obama speaking?

•OBAMA SPEAKS ON SYRIA DURING MEETING WITH BALTIC LEADERS
•OBAMA CALLS SYRIA CHEMICAL WEAPONS ATTACK CHALLENGE TO WORLD
•OBAMA SAYS SYRIAN USE OF CHEMICAL WEAPONS THREATENS U.S.
•OBAMA SAYS HE'LL CONTINUE TO CONSULT WITH CONGRESS ON SYRIA
•OBAMA SAYS HE HASN'T MADE FINAL DECISION ON SYRIA ATTACK
•OBAMA SAYS SYRIA ACTION WILL BE LIMITED WITH NO GROUND TROOPS

http://www.zerohedge.com/news/2013-08-3 ... und-troops

Same old stuff. Unless they are trying to get some super sneak attack in this does not sound like the talk of a man planning a weekend strike.

Thanks

Monthly candles.. some not so pretty. fwiw.

Nydec still 2100
It is very common for “them” to wait until everyone is gone for the holiday weekend, then run it huge, sometimes up sometimes down