Cobra's Market View

L_T wrote:What are people's thoughts on the VIX? My chart has it obviously closer to bottoming than topping, however Cobra would call that "front running" which I agree could be dangerous here.

Rich Arab are you still having drinks at Trader VIX or has the lowered cover charge < 40 allowed too many seedy characters in?

Funny note: I was at the beer/liquor store a couple of weeks ago and saw Trader Vic's branded rum and thought of this board. Does that mean I spend too much time here?

On an hourly regular chart, the VIX is at a double bottom.... be careful.

Clear mixed signals, internals multiple days (sorry, still using SPY not SSO), but NYADV >2000 = bull
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

When in doubt, Al goes with cobra’s measured move target (when NOT in doubt, Al goes with cobra’s measured move tartets)

FOLKS THERE IS SOME SERIOUS WISDOM ALL OVER THIS BOARD TODAY, PAY ATTENTION
(PS: and it ain’t coming from me)

Don't! No chat, please...

Cobra wrote:measured move target and trendline resistance here. I think more up.

Could this dip or pause be bought? Still expect more up?

Al_Dente wrote:Clear mixed signals, internals multiple days (sorry, still using SPY not SSO), but NYADV >2000 = bull
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

When in doubt, Al goes with cobra’s measured move target (when NOT in doubt, Al goes with cobra’s measured move tartets)

FOLKS THERE IS SOME SERIOUS WISDOM ALL OVER THIS BOARD TODAY, PAY ATTENTION
(PS: and it ain’t coming from me)

LOL same here I talk alot but said nothing TNX is not happy like others why?

StrikePrice wrote:If we make a higher high on $SPX before falling below 1,227.43 I'm out of my shorts and in the BULL camp.

So you are looking at 1231.04 vs 1227.43. With my increased positions, just a hair in the red today. I know it doesn't seem real right now, but I still beileve we have a gap close coming, but I won't let this run away from me.

dr659 wrote:

Cobra wrote:measured move target and trendline resistance here. I think more up.

Could this dip or pause be bought? Still expect more up?

maintain the target.

Coiled at hourly resistance

Cobra wrote:

dr659 wrote:

Cobra wrote:measured move target and trendline resistance here. I think more up.

Could this dip or pause be bought? Still expect more up?

maintain the target.

Target looks to be 45.25 ish

Al_Dente wrote:Clear mixed signals, internals multiple days (sorry, still using SPY not SSO), but NYADV >2000 = bull
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

When in doubt, Al goes with cobra’s measured move target (when NOT in doubt, Al goes with cobra’s measured move tartets)

FOLKS THERE IS SOME SERIOUS WISDOM ALL OVER THIS BOARD TODAY, PAY ATTENTION
(PS: and it ain’t coming from me)

Uncle Al, your internals are being used by some smart hats here (not so much me). I think that goes to show that you're on to something with that.

Besides my longs in /CL, /GC, and a couple of single names, I just covered 50 ITM DEC SPY 121 calls...those things go LOOPY on expiration day. And now I'm debating holding onto my 40 Jan 124 calls, which are currently positive, or else going SPY flat for the weekend and hoping to get in at a better price next week.

This board is a bit bearish, and really hanging onto Cobra's Nov. 29th low being revisited scenario. I'm not opposed to this view either, however, I could also easily see that low being revisited in Jan. 2012.

jimme wrote:

L_T wrote:What are people's thoughts on the VIX? My chart has it obviously closer to bottoming than topping, however Cobra would call that "front running" which I agree could be dangerous here.

Rich Arab are you still having drinks at Trader VIX or has the lowered cover charge < 40 allowed too many seedy characters in?

Funny note: I was at the beer/liquor store a couple of weeks ago and saw Trader Vic's branded rum and thought of this board. Does that mean I spend too much time here?

On an hourly regular chart, the VIX is at a double bottom.... be careful.

I believe right now VIX not reflecting situation. Short term VIX futures showing stock funds covering puts but contango back month is quite high. Near $30 in back month. Spread reflecting closing of books for December most likely. Basically funds thrown in the towel for the year. Most likely also dumped hi beta ie oil, commodity and tech past week while VIX cratered. Makes sense cos if they unload their hi beta positions, no need for condom protection via puts for Dec. Still back month is high

Thats it for me folks.

Shakira is waiting for me. . . .

http://www.youtube.com/watch?v=g6y7YuRL ... re=related

dr659 wrote:

Cobra wrote:

dr659 wrote:

Cobra wrote:measured move target and trendline resistance here. I think more up.

Could this dip or pause be bought? Still expect more up?

maintain the target.

Target looks to be 45.25 ish

Isn't the target about 44.7?

I see resistance up at 1234 and 1242, I see timeline A) slightly after 11 am and timeline B) at 13.30 pm. But I'm not sure if and what I'm going to trade, I'm too tired today.

PhilM wrote:

dr659 wrote:

Cobra wrote:

dr659 wrote:

Cobra wrote:measured move target and trendline resistance here. I think more up.

Could this dip or pause be bought? Still expect more up?

maintain the target.

Target looks to be 45.25 ish

Isn't the target about 44.7?

I need glasses

The German DAX & EWG did not follow the SPX in the rally. So I think the bulls don't have much support here.

Looks like fourth time is no a charm either, well, try again next time.

BullBear52x wrote:Looks like fourth time is no a charm either, well, try again next time.

i think you're jumping the gun. if it's tested this many times, i'm bullish biased it'll break it to the upside. just my opinion.

ZB is breaking resistance now. We need 2 hourly closes above it to confirm and I might think about going long TMF for a scalp/swing.

uempel wrote:I see resistance up at 1234 and 1242, I see timeline A) slightly after 11 am and timeline B) at 13.30 pm. But I'm not sure if and what I'm going to trade, I'm too tired today.

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are you going to short here as you have advised previously?