Cobra's Market View

I've seen the Buy signals both times today, I just can not buy on down trend but to sell the rally.

short SSO again here at the gap test of yesterday. got to obey my rules.

volume surge plus overshot, if no pullback, we're going to skyrocket high from here. normally, should be a pullback of some kind here.

Here me parking here today. GL trading everyone, I might get my breakfast with pancakes instead just toasts.

Today's flat maybe due to S&P isn't follow global market up yesterday.
it may take take time to reflect fundmental change, "Let the bullet fly longer"

Looks to me like all that volume is buying the breakout from the trendline. The move in IYR today is ridiculous and bullish. Looks like tomorrow could be a big up day, but the trend remains down. They can push to 1330 or so and it would still be down, but much higher and the bears are toast. My guess is that 1300 will be revisited at least one more time.

ok, still fighting, just look at the volume! bulls are determined, will bears finally give up here?

Cobra,
What is your view for tomorrow if we should hold current levels or close somewhat higher from here. thanks.

Cobra wrote:ok, still fighting, just look at the volume! bulls are determined, will bears finally give up here?

Hope so.

The market doesn't need to break down till the wheels fall off.
Then we can all think we're retiring early = and have everything destroyed all in one fell flash crash swoop, overnight while the market is closed.

Misery loves company.

right at target, should be a pullback of some kind here.

Bulls may pump now and have a nice OE close day, all happy then.
Big money easily manipulate small trend.

In my experience, when IYR is up huge and the market is flat or down, the next day is quite bullish. There is a cycle turn tomorrow so if they push to 1330 then I would guess it's a short term top of some kind, but bottom line, this is a classic example of how the VIX LEADS. The market never pulls the VIX up as it falls, but the VIX will pull the market down as it rises. Big option traders always know when to buy out of the money.

cletus wrote:Looks to me like all that volume is buying the breakout from the trendline. The move in IYR today is ridiculous and bullish. Looks like tomorrow could be a big up day, but the trend remains down. They can push to 1330 or so and it would still be down, but much higher and the bears are toast. My guess is that 1300 will be revisited at least one more time.

I concur. above 1332 and I'll have to visit spain again.

Cobra,
is my memory off, but wasn't 1342 your target for summer 2010 IHS? (i still want to call a top, oops)

StrikePrice wrote:

cletus wrote:Looks to me like all that volume is buying the breakout from the trendline. The move in IYR today is ridiculous and bullish. Looks like tomorrow could be a big up day, but the trend remains down. They can push to 1330 or so and it would still be down, but much higher and the bears are toast. My guess is that 1300 will be revisited at least one more time.

I concur. above 1332 and I'll have to visit spain again.

Cobra,
is my memory off, but wasn't 1342 your target for summer 2010 IHS? (i still want to call a top, oops)

don't remember.

if no pullback, simply consolidate here, then bears will suffer another bulls attack!

Cobra wrote:if no pullback, simply consolidate here, then bears will suffer another bulls attack!

why unhappy? you are a bear today?

short the last time for today.

bbc wrote:

Cobra wrote:if no pullback, simply consolidate here, then bears will suffer another bulls attack!

why unhappy? you are a bear today?

No. I'm not bear but I have sell stop below certain point.

I can mostly grasp every move of the market and I didn't make any error today, why I want to be an early bear? I simply follow, remember?

could be another assault higher from here. bulls, please show mercy to bears.

GOOG OTM APR call volumn huge, imply over 10$ upside, may lift Tech sector tomorrow.

No mercy.