Cobra's Market View

GM, Ho Ho Ho, you got to believe right on 5 dma resistance, this makes you go hmmmmmm.....

Me XMan wrote:Is this similar to Hope and Change?

cougar wrote:Good morning!
Three consecutive days with similar patterns.
It's time for a CHANGE!

Unfortunately YES!
But also: No news is GREAT NEWS!

LBJ_OldPeking wrote:Morning Cobra, could you pls comment on VIX? It gaps down to a lower low after several dojis........I am worried since I hold heavy positions, seems santa rally is coming....thanks!

I really don't understand what's going on with VIX. Seems we shouldn't trust VIX anymore?

Got a chunk of shorts back 122.80

BullBear52x wrote:GM, Ho Ho Ho, you got to believe right on 5 dma resistance, this makes you go hmmmmmm.....

lol, slightly obought? Nice trade yesterday bb.

testing the double bottom neckline. normally when the price travels this far then taken the resistance, I won't trust the breakout. well, again, NORMALLY.

clearly SPY leads the charge, it's the only one index that made the higher high.

If SPY managed to hold on above 122.5 Bulls mean business, see $NYUPV:$NYDNV, not that high, let see how the day play out, this need to be a little bit higher don't and if it held up tomorrow is the day to buy, I will not buy anything today.

Went in for the rest $123.05...now wait and see...

Me XMan wrote:Got a chunk of shorts back 122.80

Today is OpEx for VIX.
Big time VIX volatility !

I sold my XOP too early at 50.23

Honey?

SPX http://99ercharts.blogspot.com/2011/12/spx_20.html

The gondola's here.

AMZN options are really crappy. Anyone know when it might get it's mojo back from the loss in IV?

SPX 1225 should be the yellow line?

BullBear52x wrote:If SPY managed to hold on above 122.5 Bulls mean business, see $NYUPV:$NYDNV, not that high, let see how the day play out, this need to be a little bit higher don't and if it held up tomorrow is the day to buy, I will not buy anything today.

Hello Cobra,

Is this the third push you mentioned day ago? the last push before it goes down?

the momentum seems strong.

Thanks

waverider wrote:

BullBear52x wrote:GM, Ho Ho Ho, you got to believe right on 5 dma resistance, this makes you go hmmmmmm.....

lol, slightly obought? Nice trade yesterday bb.

$SPX over 2% gain I would said yes, a little over bought, day trade from here will be not much more up I would think, but power that be knows if they can not hold up here >122.5 all day, they will need more money (lots more) to push it up higher tomorrow if not tanking back down. we are still under 50/200dma, this makes it harder to stay up. let see I am like a kid in the candy store right now.

SPY needs a good spanking

Cobra wrote:clearly SPY leads the charge, it's the only one index that made the higher high.

Me XMan wrote:SPX 1225 should be the yellow line?

BullBear52x wrote:If SPY managed to hold on above 122.5 Bulls mean business, see $NYUPV:$NYDNV, not that high, let see how the day play out, this need to be a little bit higher don't and if it held up tomorrow is the day to buy, I will not buy anything today.

122.06 to be exact need to hold up all day today, I think it will, but if not you know which side I'll be in.

Okay honey...

SPX http://99ercharts.blogspot.com/2011/12/spx_7173.html

Gravity.

BullBear52x wrote:

waverider wrote:

BullBear52x wrote:GM, Ho Ho Ho, you got to believe right on 5 dma resistance, this makes you go hmmmmmm.....

lol, slightly obought? Nice trade yesterday bb.

$SPX over 2% gain I would said yes, a little over bought, day trade from here will be not much more up I would think, but power that be knows if they can not hold up here >122.5 all day, they will need more money (lots more) to push it up higher tomorrow if not tanking back down. we are still under 50/200dma, this makes it harder to stay up. let see I am like a kid in the candy store right now.

Agreed, very possible range day today IMO