Cobra's Market View

SPY: the new octave in action.

Gee honey...get a load of that.
NQ http://99ercharts.blogspot.com/2011/10/nq_26.html

Let's hit the beach!

GLTA.

Wake up boys and girls! We have movement.

QQQ update:

dr659 wrote:

Cobra wrote:L2 short on EMA20, not sure. let's see.

Is that a Pbar on that chart? If it is does it mean anything yo you?

p bar may require several days to work.

Hey, Ultramarine! If you are there, you were asking last night about my trade ... and what I would do on a gap down. As I stated (and as I did this morning), I would wait to see whether the gap gets filled. NEVER panic at the open! Very important to wait at least 1/2 hour. Again, patience, patience, patience is the name of the game. Oh, yeah, I am still in the trade. NOTE: I very rarely use hard stops -- just mental. The boys like to come and get the stops and they know where we put them. They sure played a good game this morning.

i'd love to see a completed inverted C&P on the 5 minute. that should help end the day with a new low.

Cobra wrote:

dr659 wrote:

Cobra wrote:L2 short on EMA20, not sure. let's see.

Is that a Pbar on that chart? If it is does it mean anything yo you?

p bar may require several days to work.

Wow! What a pbar! This never showed up on my TDAmeritrade account using Strategy Desk. Thanks, always, for sharing Cobra! We love ya!!

bear game on again. Gee, that was quick.

seekingknowledge wrote:Hey, Ultramarine! If you are there, you were asking last night about my trade ... and what I would do on a gap down. As I stated (and as I did this morning), I would wait to see whether the gap gets filled. NEVER panic at the open! Very important to wait at least 1/2 hour. Again, patience, patience, patience is the name of the game. Oh, yeah, I am still in the trade. NOTE: I very rarely use hard stops -- just mental. The boys like to come and get the stops and they know where we put them. They sure played a good game this morning.

Cheers, SK. Thanks for your explanation yesterday. Good to hear you're holding fast. No stops on leveraged ETFs? I admire your courage and street smarts.

jarbo456 wrote:i'd love to see a completed inverted C&P on the 5 minute. that should help end the day with a new low.

Hi jar: Second lobster serving of the day
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =246007758

Folks,

First post here.. have been following this site for a few weeks now... great work...

I have a confession, for a few days I thought Cobra was a woman.... and then realized I was wrong when I jumped on this intraday chat...

Cobra you rock, thx for all the knowledge waterfall.... and thx to all experts posting here...

H&S v3.0?.. target keeps pointing lower

crude needs to hold 90.52 to keep it's outside month reversal.

cougar wrote:SPY: the new octave in action.

Can you point me to understanding of octave stuff? THX!

agnosia wrote:crude needs to hold 90.52 to keep it's outside month reversal.

long 90.80

cobra,
current price action is bullish rather than bearish. am i correct at that assessment?

Got in late. My TSL hit yesterday because of gap up. 13 pt gain

Long now at 122.63. Target: 123.36 to 123.80

agnosia wrote:

agnosia wrote:crude needs to hold 90.52 to keep it's outside month reversal.

long 90.80

long 90.83... lol... target 91,60... u still holding GC ?

Cobra wrote:

dr659 wrote:

Cobra wrote:L2 short on EMA20, not sure. let's see.

Is that a Pbar on that chart? If it is does it mean anything yo you?

p bar may require several days to work.

That's like 38-39 handles from here. it better take a few days or the vol traders who are short are gonna get killed.