Cobra's Market View

99er wrote:So what's for lunch?

KARACHI — Pakistani police on Thursday arrested a woman who had killed her husband and was attempting to cook his body parts after he planned to marry another woman without her permission.

Not me...not me!

What brave woman. She is my hero.

Above 1170 back in ellipse:

Update

SPX http://99ercharts.blogspot.com/2011/11/spx_6534.html

On your marks...

European minister press conference at 11:15 eastern time. I'm playing the pattern to disappoint and then buy the big dip and close strong

KENA
I just haven’t taken the time to study/learn P&F yet
But I have been watching yr Dorsey Wright for a while now… 2 soon 4 me to ask anything but dumb questions
http://www.youtube.com/watch?v=khWvxVEhcMQ

PS: thanks mongoose, nice songs, great contrast

Channel update ( hourly ES )

Thanks Al, how did you know? A) I look exactly like the guy with the shades, B) I love Judy and C) of course Amy too http://www.youtube.com/watch?NR=1&v=_ds0eIVGHQk

maintain the target, at least one more push up.

Again this pattern !!!!

Internals five days
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =245360380

this song is visual too … needs eyeballs http://www.youtube.com/watch?v=oGstrljksN0

3rd try

ib612 wrote:Hi everyone, newcomer here!

Firstly, thank you Cobra for your TA acumen.

If we do get the breakout and target is reached, is it down hill from there?

Spanish and Italian yields are up quite a bit today...

Thanks and welcome aboard!

Yes, so far, I think this is just a rebound. The bottom wasn't in yet.

Expect some saber rattling volume in 25 minutes

trend line resistance. break above it is the 1st sign of a meaningful rebound is about to come, the market will still need to test the morning low sometimes later, not necessarily today though.

Dollar daily update

/DX dollar future just breaking up out of a bull flag. Time for a little more skiing..

Closed short in the premarket this morning.
I think there are more lows ahead but my price target was hit.
Also, as a devotee of the McClellan Oscillator, the low this morning seemed to be pushing things too far.
Currently planning to reinitiate short if price rises to a good level or if McClellan Oscilator recovers closer to 0 in the coming days.
Also,my short was in TWM (2x inverse Russell 2000). I think at this point in the trend, I would like to reinitiate with an unleveraged etf.
Could miss a good downdrft here if the market unravels, so I have mixed emotions about taking the trade off.

Hope everyone had a good holiday. With family, so won't be paying much attention to market today.

Quote of the Day

What they are preparing for is the biggest mass default in history. There's no orderly way of doing this. European finance and trade is too far integrated to allow for an easy unwinding of contracts. It's going to be anarchy.

http://globaleconomicanalysis.blogspot. ... ak-up.html