Cobra's Market View

Flat open so any gap will be filled. The Global ES looks like a 3 push up or Rising Wedge so there're some chances we'll see a pullback of some kind here, not sure as it's an against trend call...

i get the first non cobra post of the morning!

good morning...nice analysis last night.

RIP Jobs.

Good Morning.

So honey...are we going up or down?
ES http://99ercharts.blogspot.com/2011/10/es_06.html

Let's see...

GM Cobra GM!!!!!!!!!!


How are people trading AAPL today ? im looking at break of 375 --->365

Well?
EURUSD http://99ercharts.blogspot.com/2011/10/eurusd_06.html

Let's reserve our place in Paris but pay later.

Apple misses on unveil, Jobs passes away, unemployment up, "significant downside risk" in Europe, Euro down, Whole world on verge of Eco-disaster= stocks up

Would anyone like for me to buy calls so this thing will dive like a shot bird?

good morning, Cobra.

But isn't that risky?
AUDJPY http://99ercharts.blogspot.com/2011/10/audjpy_06.html

That's okay. Risk on.

overnight support now.

What?!
Copper http://99ercharts.blogspot.com/2011/10/copper_06.html

We've already bottomed.

bushwaffle wrote:Apple misses on unveil, Jobs passes away, unemployment up, "significant downside risk" in Europe, Euro down, Whole world on verge of Eco-disaster= stocks up

Would anyone like for me to buy calls so this thing will dive like a shot bird?

Ya..Strange how this works.

I couldn’t hold my tears out of my eyes this morning when I learnt the passing of Steve Jobs. I loved him and I will miss him for what he has made to change my way to learn and to live.
An excerpt from statement of President Obama “Steve was among the greatest of American innovators - brave enough to think differently, bold enough to believe he could change the world, and talented enough to do it…”
May we? – Members and visitors of this forum will spend a minute of silence to honor Steve Jobs.

99er wrote:What?!
Copper http://99ercharts.blogspot.com/2011/10/copper_06.html

We've already bottomed.

Thanks for the charts, 99er. The copper chart should give bears some pause.

Hi, All, Yesterday afternoon, I posted a chart of the Russell and I dyslexically called it the 240 "hour" chart. It is not a 240 "hour" chart, it is a 240 "minute" (or 4-hour) chart. I apologize for this mistake. I am attaching it again. Looks like we should have a nice shorting opportunity very, very soon -- probably today. Here is the attachment again. I don't know how to upload it as an image. Sorry to those who don't have MS Word. Lastly, thanks again to whoever on this board that I learned about the 240 minute chart. It is very helpful to view!

the open.

Hi, Cobra: D U think Mkt is going to visit the recent low?

I see clear Rising Wedge, just not sure if it works or not.

AK84 wrote:GM Cobra GM!!!!!!!!!!


How are people trading AAPL today ? im looking at break of 375 --->365

i might look to short SINA again around here. looks like it retraced to the breakdown level of 77.

Here is an interesting interview with Tom DeMark, a technician who is followed closely by a number of big institutions.
I think a few of his comments provide some perspective on the uncertainty embedded in Cobra's analysis last night and the scenarios for the days ahead.
My interpretation is more up today/tomorrow has dangerous implications; a pullback today/tomorrow would be constructive.

http://www.distressedvolatility.com/201 ... ly-13.html

oldpigwang wrote:Hi, Cobra: D U think Mkt is going to visit the recent low?

define the recent low, please.

I think the low was in. we might pay another visit to it, but won't make a lower low, then we're in for a few weeks rally, the real rally. The conclusion is made based on common pattern. Just look at what happened in May last year, that's very typical, the revisit to the low in Aug made only a higher low confirming that the low was in.

If however, the revisit we're about to have decisively break below the low, then I need another pattern before calling the low was in.

For now, I believe the low was in.