Cobra's Market View

SB73 wrote:A massive gap down would assure that we are in wave 3 of 3 at which point you do not want to be long for scalps. Cobra what is your general observation of traders on this board. My favorites are Fehro and Dow Trader.

I think that college kiddo heavenskrow is very good but too bad he has a cocky attitude.

Money comes and goes and rinse and repeat but respect once gone, it ain't coming back.

All the I am afraid to hold short overnight are closing out.

bot EDC for ST only.

tdo722 wrote:

SB73 wrote:A massive gap down would assure that we are in wave 3 of 3 at which point you do not want to be long for scalps. Cobra what is your general observation of traders on this board. My favorites are Fehro and Dow Trader.

I think that college kiddo heavenskrow is very good but too bad he has a cocky attitude.

Money comes and goes and rinse and repeat but respect once gone, it ain't coming back.

I like heavenskrow as well...did he get offended.

I am so tempted to call the bottom here. 15min chart shows positive D for macd, rsi, sto, mfi.

noob wrote:I see positive divergence on 5 and 10 mins charts. Any thoughts Cobra?

Cobra wrote:a little breakdown, but not enough to count, let's wait.

the problem is you never know when divergence works. it's could be divergent of long long time.

MrMiyagi wrote:All signs pointing to reversal. If I short SPY then that will for sure turn it around.

yea we have lots of hammer candles on the spx . people are buying the dips for now. lets see where we end though since that is the most important ...

Cobra wrote:

noob wrote:I see positive divergence on 5 and 10 mins charts. Any thoughts Cobra?

Cobra wrote:a little breakdown, but not enough to count, let's wait.

the problem is you never know when divergence works. it's could be divergent of long long time.

I agree, divergence is only 60% probability. That kind of probability will get someone homeless quick. haha...

tdo722 wrote:I am so tempted to call the bottom here. 15min chart shows positive D for macd, rsi, sto, mfi.

Why try and call the bottom or top. I would guess if there is one thing Cobra finds most interesting it is how many of us, self included, try and front run the market.

SB73 wrote:

tdo722 wrote:I am so tempted to call the bottom here. 15min chart shows positive D for macd, rsi, sto, mfi.

Why try and call the bottom or top. I would guess if there is one thing Cobra finds most interesting it is how many of us, self included, try and front run the market.

Agree. I guess whenever it breaks the downtrendline then it's should have higher probability then. haha...

1180-90 ish seems like a nice bounce target 50% , trendline, close below the 50 Day SMA, to freak everyone out.... then bounce!

anyone calling a gap up or gap down tomorrow? if it's a gap down...that would be 4 in a row. cobra didn't think we'd make 3 in a row. if tomorrow is a red day, that's also 3 in a row...recently we haven't been able to make 2 red days in a row.

everything is leaning to a rebound tomorrow?

well, guess that's it for today. NORMALLY we should have a lower low first tomorrow. the intermediate-term trend is still up. thank you guys, I'll see you tomorrow.

Been waiting for ES 1200, could bounce there, but think SPY will need the mid-teens to get small traders to quit their longs, and greedy politicians to make a deal in the US. Then, gap to SPY 140? No, I'm not as think as you drunk I am <wobble, wobble>..

UUP daily close over yesterday's high points to 22.5

wow! huge buy order on SPY at the bell. -_-

Stick save...but won't be for long...

jarbo456 wrote:wow! huge buy order on SPY at the bell. -_-

i believe that's to close above 1215 LOL....

wow. wiped out a 3rd of my daily profit on that one trade. ridiculous.

i guess we're going up tomorrow.

Volume was up but not as heavy as I thought it would be given the price move.

I am seeing a sizeable P-Bar on QQQ. Anyone else?