Cobra's Market View

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Back to the range low, still no clear direction. Just now bears are attacking, the questions is: Are they able to score?

members only update starts here: http://www.cobrasmarketview.com/2014/01 ... ay-update/

wtfHightower today. glta

THE CASH SPX CONCERNS ME AND ARGUES THE MISH MASH IS NOT OVER YET, BUT (I KNOW I SOUND LIKE A BROKEN RECORD) I REMAIN BULLISH EVEN MORE WITH EVERY PASSING DAY...

Today could be rough for me in my gold short.

Because the MLK holiday prevented me from getting short when I was supposed to, and I shorted at a lower level than I intended, today's rally hurts. I have to effectively "act" like I invested on monday, which means I WOULD be essentially flat with this mornings rise. But I actually show a loss. My stop is still above current levels.

All of this means my stop is further away from my true entry point than I would like, and I would take a bigger loss than normal for me if I do get stopped out.

Reminder (yesterday's chart)

Update:

Update:

WELL I BOUGHT 1825.50 A FEW MIN AGO BUT CHICKENED OUT AT 1826.00 FOR A TINY PROFIT .. HERES MY NEXT PLAN...

koolblue wrote:WELL I BOUGHT 1825.50 A FEW MIN AGO BUT CHICKENED OUT AT 1826.00 FOR A TINY PROFIT .. HERES MY NEXT PLAN...

Profit is profit. Small profits add up quick.

2 hour.

Update:

Net long. Holding longs and shorts. No change.

My summation signal is neutral, an upward change from yesterday, which was down.
My composite trend signal is up.

We have been in a chop zone with mildly improving technicals.
Today may change that as it seems unfolding events may introduce new dynamics.

If VIX breaks 14, I'll be tightening stops on longs.
I also have a setup that may add short if things really break down.
My signals take some time to turn. So, for now, the operation remains juggling in the chop.
However, given the bullish consensus that has been out there, there is good potential for an emotional turn it seems.

im long here at 1822.. going to pray they dont go straight to 1817.50 stop is at 1820.00

The tight bbs on SPY say the next move will be an extended one. to avoid whipsaws, its best to sit on the sidelines until the move is quite clear. we have a big drop today but its only one day and i dont have a sell signal here of any kind.

i am going to cover half here at 1823.50.

for the balance i will hold for 1825.00

Update:

Hey Uempel, what do your ellipses show?