Cobra's Market View

Hey, ladies and guys, let's vote again: Was the Oct 4 low the low for the October? Maybe you have a 2nd thought this time?

LOL, what's funny is that so many more people said the low wasn't in last week, and now they are reversing... Probably means the low was NOT in

If we are going to get the post employment pullback, today is pretty much the final day for it…. I have been thinking this might be similar to the April employment / Opex time frame where we rolled over on the Wednesday after employment and then bottomed the Thursday of Opex week and finally the Monday after opex (when PUG was away – I believe….) I have liked this scenario as there is the earnings symmetry and the STEEP March downtrade

Alternatively, and this has nothing to do with my normal turning point research, but the weekly SPY ETF chart has a remarkable resemblance to the period after the March bottom – specifically with the GAP up over the previous week’s close….

Any pullback could be shallow….

Only longer term issue for me is that if last week’s low was the low for the year, it will be the first time that we have bottomed in October prior to the release of the monthly employment report – clearly, there is a first time for everything…. just does not fit well with my Santayana philosophy… (ie. history repeats)

-D

Denali92 wrote:If we are going to get the post employment pullback, today is pretty much the final day for it…. I have been thinking this might be similar to the April employment / Opex time frame where we rolled over on the Wednesday after employment and then bottomed the Thursday of Opex week and finally the Monday after opex (when PUG was away – I believe….) I have liked this scenario as there is the earnings symmetry and the STEEP March downtrade

Alternatively, and this has nothing to do with my normal turning point research, but the weekly SPY ETF chart has a remarkable resemblance to the period after the March bottom – specifically with the GAP up over the previous week’s close….

Any pullback could be shallow….

Only longer term issue for me is that if last week’s low was the low for the year, it will be the first time that we have bottomed in October prior to the release of the monthly employment report – clearly, there is a first time for everything…. just does not fit well with my Santayana philosophy… (ie. history repeats)

-D

It's only a matter of time before Europe's sovereign debt crisis gets priced into the global markets.

Voted "No way". Same reasons: Weekly/monthly charts are trending lower; no resolution for Europe -- just a plan for the plan (a joke); rally is moving up on LOW volume; October is not yet over (bad things happen during this month).

Cobra, I really like your humor!!

Yes. Oct-4 low was the low for October.