Cobra's Market View

Gap up but within yesterday's range plus it was Major Distribution Day yesterday, so NORMALLY any gap after such a day would get filled, so changes are the gap will be filled. The Global ES MAY look like a Bear Flag, not sure, as the Flag is a little bit too large.
Euro still fighting the resistance.

Good Morning Cobra, and every body

morning guys, started trading a new market. /gc. i am long 1709, on positive cross of 10/20 on the 5min. looking to swing trade this up to the 50sma at about 1730. good luck today.

Good morning, Cobra!
VIX: possible H&S in the making…a formation which I unfortunately ignored yesterday, on close…
We shall see…

Cobra wrote:Gap up but within yesterday's range plus it was Major Distribution Day yesterday, so NORMALLY any gap after such a day would get filled, so changes are the gap will be filled. The Global ES MAY look like a Bear Flag, not sure, as the Flag is a little bit too large.

1.png

Euro still fighting the resistance.

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Hi Cobra. Thanks. However, I have different thoughts. The MDD rule is based on normal situation when VIX is not high. However, nowadays VIX is above 30, yesterday's drop barely met MDD rule and it may not signal as strong as selling strength as before.

Cougar H&S means what ? going down? VIX going down or the market?
please and thanks

Another day bears would keep on asking, is it time to short?

US has to rally strong in the first two hours to assist the German DAX achieve a higher high. If that happens, we probably rally all day.

Good Morning.

Honey...what's for breakfast?
EURUSD http://99ercharts.blogspot.com/2011/10/eurusd_26.html

Bologna.

So what should we do today?
AUDJPY http://99ercharts.blogspot.com/2011/10/audjpy_26.html

Wanna go surfing?

now, bear flag no more

Pre- market: a second breeze in the sail of the bulls: the Germans seem to go along with further leveraging for the IFSF.
Good for the moment and BAD on the long run!
That is why the indices (here and in Germany) crawl up. but don’t fly!

QQQ in pre-market:

What does Dr. Copper suggest?
HG http://99ercharts.blogspot.com/2011/10/copper_26.html

"Surf's up."

cougar wrote:Good morning, Cobra!
VIX: possible H&S in the making…a formation which I unfortunately ignored yesterday, on close…
We shall see…

Thanks Cougar I didn't See it either.Thats a good note.

the open.

Shall we give Tabby a call?
ES http://99ercharts.blogspot.com/2011/10/es_26.html

You betcha.

zhyuan04 wrote:

Cobra wrote:Gap up but within yesterday's range plus it was Major Distribution Day yesterday, so NORMALLY any gap after such a day would get filled, so changes are the gap will be filled. The Global ES MAY look like a Bear Flag, not sure, as the Flag is a little bit too large.

1.png

Euro still fighting the resistance.

2.png

Hi Cobra. Thanks. However, I have different thoughts. The MDD rule is based on normal situation when VIX is not high. However, nowadays VIX is above 30, yesterday's drop barely met MDD rule and it may not signal as strong as selling strength as before.

right, I gave up any bearish call, anyway.

Cobra wrote:

zhyuan04 wrote:

Cobra wrote:Gap up but within yesterday's range plus it was Major Distribution Day yesterday, so NORMALLY any gap after such a day would get filled, so changes are the gap will be filled. The Global ES MAY look like a Bear Flag, not sure, as the Flag is a little bit too large.

1.png

Euro still fighting the resistance.

2.png

Hi Cobra. Thanks. However, I have different thoughts. The MDD rule is based on normal situation when VIX is not high. However, nowadays VIX is above 30, yesterday's drop barely met MDD rule and it may not signal as strong as selling strength as before.

right, I gave up any bearish call, anyway.

Thanks for your reply. But we still should give some respect to the past rule. So I will not add long here.

KENA: what is your downside target for your MOS short? Maybe fill the gap at $55.xx?

PS: You always seem to take positions that pique my interest. You said you have a list of stocks you watch right? Are we talking dozens or many dozens? Just curious.

Honey...
SPX http://99ercharts.blogspot.com/2011/10/spx_26.html

Let's take the truck.