Cobra's Market View

Cobra Da: Should we buy the dip before mkt close today?

Cobra wrote:AAPL breakdown. I don't understand, is name that important? what if AAPL names its new product iphone 5 instead of iphone 4s, would the world be saved?

yes it will be important, not that bad at least.
this is a typical sell the news case. it is an engineered manipulation of the market. i will put together something later. but in short i hope people follow my signal and close the position above 370.
- from the pirate copy showing up in street in china over the weekend, we know the new ip is awfully close to ip4.
- this morning since 11, apple stores are closed. this further indicated it's a new phone. i posted my plan of ip5 vs ip4 here.
- around 1:15 ip 4s was showing up on apple japan website. i closed my long position shortly before i posted the rumor here.
- 1:45 ip 4s was announced.
everything after that is clear, including cobra got super excited and keeps on posting aapl charts. i believe charts from this afternoon is more than he has ever posted b4.

dumped all my TZA for a few point profit. don't like the way this trades... i am going to trade this through /TF ( russell futures )

is anyone else finding this market ripping and dropping 50+ points kind of crazy?

This is the up & down action I was looking for! Looking good for da bulls, fellas!

i said bears need pray...

I saw some cocky bears today. Guys don't get cocky this market will stick something in your behind if you turn against it and get cocky.

Just food for thought...Semiconductor Index is holding August closing low of 326.32. May not mean anything but doing this while most other measures gave up August closing lows.

http://stk.ly/qYFCaS

AUDJPY
Update.
http://99ercharts.blogspot.com/2011/10/audjpy_04.html

Lots of room on the upside.

soku wrote:

soku wrote:equi point is between 1088-1091 es. need to take it or the strength of the reb will be questionable

rejected at 1088 again. the line remains the same

damn it. spent too much time talking about aapl. missed this rally.
anyway, stopped at 1088 this time, again. volatility is as high as a trader can expect. i am leaning toward a bullish close. we may see 1095 again

Cobra wrote:i said bears need pray...

Cobra, do you suggest to hold the long position overnight? Thanks.

Cobra wrote:AAPL breakdown. I don't understand, is name that important? what if AAPL names its new product iphone 5 instead of iphone 4s, would the world be saved?

The new Iphone is truly a disappointment. Those new features are not that appealing, that is why Apple is taking all kinds of legal actions against their compatitors.

Admittedly, it is harder and harder to make innovation breakthrough on more and more developed product.

EvilTrader wrote:sentiment is so bearish that a green close is almost guaranteed

i hate to be a market genius

SB73 wrote:

SB73 wrote:I have ridden the wave down hard and I am finally seeing some divergences that tell me lift off may be upon us. I will watch to see if we get a close above 1090....if so, I believe up strong tomorrow.

VIX closing back inside the BB...$NYLOW too high, Put call ratio too high

terrific setup if we can hold.

AAPL saved the world again.

measured move target? I'm clueless now.

That bear mkt did not last long.Ha

COMP 1 hour channel is so strong in last few days
will it hold today?:)

finally, break.
Was working perfect Since last Tue.

a little too stretched, hopefully a pullback of some kind here.

Here's Andy Zaky Snippet I received..not sure if I should post it here, but oh well. Apple has sold off previously on events...



"...The first thing you need to understand is that in the vast majority of the cases — 10/14 since 2008 — Apple ends up “selling on the news.” So you should always expect that the stock is going to sell-off heading into these events. Planning otherwise is both naive and very stupid. Don’t invest with the idea that Apple is going to rally after these iPhone events.

The second thing that should be known by now is what determines the level of selling pressure is the market environment at the time of the event. If we’re seeing a huge sell-off in the markets and the environment is very bearish, expect the stock to slide — especially if Apple holds up ahead of the event.

During the 2008 financial crisis, you saw Apple get absolutely hammered ahead of its September media event as it fell 4.98% in the week ahead of the event and then fell another 3.95% on the day of the event itself and then another 11.42% during the week after the event. From the week before the event until the week after the event, the stock lost 15.8%. Remember, this event happened in early September ahead of the heart of the sell-off in the markets. The environment was just very bearish..."

"...Notice how so far I’ve introduced absolutely no discussion about what may or may not come out of the event in this article. That’s because what comes out of the event is completely irrelevant as to what is going to happen to the stock after the event. If you believe it makes any difference whether Apple introduces an iPhone 5 or iPhone 4S, then it means you have a very long way to go to understanding how the market functions...

...If the iPhone 5 is introduced, Apple sells-off. If the iPhone 4S is introduced, Apple sells off..."