03/22/2013 Live Update

[Cobra]

target met. volume surge, might see rebound here first, then we'll see.

[KENA]

In my book AAPL is now shaping up for a dn move and now looks like its time to take a short position.

[Cobra]

rebound as expected. this is my last call for today as I had perfect calls today, don't want to go wrong on the last call. usually Friday closes strong in anticipation of good news (as always) in the weekend. But because of Cyprus issue, really hard to call how the market closes today. Guess it's who's chicken play in the end.

[Xian]

Thanks very much for the insight. I guess I'm going to just chicken out and go flat over the weekend.

Really appreciate your thoughts

thank you as always only my opinion and limited to what i run into--as for being chicken--i guess i am too. but over on the big picture (barrys blog) there is a rap about doing nothing. taking action is always the focus and doing nothing is often ignored. yet we spend a lot of time doing nothing (either waiting for a trade or being in one). but here is something to consider--suppose Cyprus gets tossed and the market goes up (so the somewhat unexpected) there is a fine short at a flip up to 1590 which would almost certainly work. on the other hand if we get sold hard for 1-2 days there is going to be a long someplace. so with luck there will be a better pitch and we can put more juice behind the trade--in the end less is more.

i would personally really like to see things go up and finally get the sell on a monthly in april. finally having a clean mind (no trade) means easier to spend the weekend training and studying things other than the market--10 years down the line the time we put in understanding how our bodies and minds work will yield hard core results.

as an example-- one stat showed dementia is hitting 1 out of 3 people. so reading about (1) heart strength later in life. (2) narrowing of major blood vessels to the head. how to fix this and (3) the correct anti ox compounds and how to consume them correctly--will amazingly enough yeild more than a weekend of sweating the charts. we take our brains and bodies for granted (granite) but wise course of action is spend more time here less time trading.

have a good weekend

Thanks again Taggard.

I'll leave you with this:

http://blogs.reuters.com/felix-salmon/2 ... laying-at/

Have a great weekend— I know I'll sleep a better knowing I don't have to sweat this stuff.

[tomsky]

Guess it's who's chicken play in the end.

Me me me me me! I admit, i reduced my longs by 30%.
Waiting next week for a bust trough resistance and then pullback.

[Cobra]

members only update at 3:45 pm
http://www.cobrasmarketview.com/2013/03 ... ay-update/

[Cobra]

I made perfect calls today, so please reward me with your generous vote, thanks. https://stockcharts.com/public/1684859/tenpp

[Cobra]

now it's time to say who's chicken, bear or bull. wait.

[Cobra]

generally, you don't want to see the green line below being touched again as too many tests on it so wouldn't hold one more test.

[Cobra]

well, guess that's it for today. Monday is the only weekday nowadays a little friendly to bears. thank you guys, I'll see you TONIGHT. Be sure to pay attention to my next week's stock picks, they had a good run this week.

before the close, please take a little time to vote for me. thanks. https://stockcharts.com/public/1684859/tenpp

[fehro]

Still in the triangle 60m SPX

[TraderGirl]

bye guys, off to gym...

[MrMiyagi]

Have a good weekend everyone, next week is only 4 days, closed for Good Friday.

[Cobra]

well, a typical Friday strong close.

[stlwater]

I lot of bears just covered...

[gappy]

And the winner is....

spy.png

155.55! Good weekend y'all.

[KaZoom]

AAPL: Note that, on a log scale, AAPL is just now testing the downtrendline:

http://stockcharts.com/h-sc/ui?s=AAPL&p ... &cmd=print

[Daniel-David]

Glorious! For all those who love simple relative strength analysis, per StockCharts (as of this moment), both SPY and GLD closed today at $155.55.

Even those who analyze with just their two thumbs should have no problem tracking rs btw these two asset classes for the near future.

[TradingJackal]

updated pic from the morning post. We are here in ES. Let's see how Monday goes (Sunday night actually).