Cobra's Market View

MrMiyagi wrote:Not sure what button to pull out for today...

could always fall back onto the 'play' button
http://www.youtube.com/watch?v=ws2Vx3Mm ... re=related

negative RSI divergence on the Dow weekly chart..

Petsamo wrote:Anyone familiar with AMD ?

If I am not mistaken, they guided lower for next quarter.

“Let’s take a quick look at some of the indicators that help investors gauge if a market is oversold or overbought”
http://www.thedisciplinedinvestor.com/b ... nvestor%29

MrMiyagi wrote:

Petsamo wrote:Anyone familiar with AMD ?

If I am not mistaken, they guided lower for next quarter.

Sometime after their earnings on 7/19, AMD ran up big. It took more than a week for that run-up to be taken away.

2 legged pullback already, not much harm down, so the bias still is on the bull side, FOR NOW.

Cobra wrote:2 legged pullback already, not much harm down, so the bias still is on the bull side, FOR NOW.

Until when?
Some news from Europe....It seems safe to predict that the ECB will hardly be a paragon of decisiveness in the coming weeks and months.

http://www.spiegel.de/international/eur ... 417-2.html

And in fact the ECB has already issued a statement decrying the article: Dear all, As regards today's reporting by the magazine Der Spiegel, please be informed that It is absolutely misleading to report on decisions which have not yet been taken and it is also wrong to speculate on the shape of future ECB interventions".

But the market evidently doesn t care, also shrugging off the latest Bundesbank monthly report which came out this morning stating The Bundesbank holds to the opinion that government bond purchases by the Eurosystem are to be seen critically and entail significant stability risks .
Master, should we prepare for .SPX 1200?

There should be enough time for the sell one more time today, then Bulls can take it from there.

here comes the 3rd leg up. looks strong.

Cobra wrote:here comes the 3rd leg up. looks strong.

OK enough already. Turn around, go down and STAY DOWN!

Al_Dente wrote:“Let’s take a quick look at some of the indicators that help investors gauge if a market is oversold or overbought”
http://www.thedisciplinedinvestor.com/b ... nvestor%29

thank the good DR AL for reminder....IWM priced in silver has no rationale, comparing 1 "store of value" to another is all looking for some guidance....
if Noodles is out, is the DR a MD (=Major Diety, accouding to nurses) or only a md=minor diety?

here is a weekly iwm:slv, not telling me much... and the daily renko suggests not ovrbought nor oversold though there is some rsi divergence, may only be coincident indicator that BEN is runnin out of ammo...

SPY has a lower low on the daily. It's close to a higher high

text book target. not sure, as it's range day, so may reverse from here (50% chances). wait.

Red corner, are you ready? Blue corner, are you ready? Tick tick tick....wait for Da ding



Ding ding ding.

Here you go, last scalping for da bear I hope. new LOD from here will be different story

Took profits on my last swing long,now only holding shorts,may add to them but lets wait and see.

WEDNESDAY
“Two years of uncertainty for big U.S.-listed mining and energy companies will end on Wednesday…”
http://www.reuters.com/article/2012/08/ ... ss+News%29

pullback, so one target is invalid now. still chances are higher that there's another attempt on the day high at least.

end-of-day RAMP_JOB, just like asia ?
which button from Mentor Miyagi?

here is qqq pf, I don't put much weight to this but a selloff the next couple of days would make the qqq look pretty weak!