Cobra's Market View

Guys, it's the time to vote again. Please think twice before you observe your holly right because you cannot change your vote after you voted.

Flee into camp of bulls. seems easier to make $$$.

Happy weekend.

11/11/2011

I voted for the first time here.

I voted for the first possibility.

BUT

I was thinking more along the lines of something like this:

Yes, the difficult time is over, we're heading higher from here, but you'd better close all your long positions on the first signs of strength we get, because that's all you're going to get.

The image below are volume bars from ScottradeELITE Velocity & Forces. I took the screen shot months ago. Green bars are buy bars; red bars are sell bars.



Notice the equidistant red bars on EWZ. They didn't occur at the highs of EWZ, but from the time I saw those red bars, EWZ made significant moves down for weeks. I saw those equidistant red bars two different times.

This past Wednesday, 11/9, I saw equidistant bars again, but this time, they were green. I made the mistake of not going 100% long Wednesday or Thursday ...

While I am bearish bcoz of the macro issues with Banks, I am expecting a rally to 1350-1380 (year high) and then multiple crashes in Jan

I am short and there is no sunshine yet....

HighRev wrote:I voted for the first time here.

I voted for the first possibility.

BUT

I was thinking more along the lines of something like this:

Yes, the difficult time is over, we're heading higher from here, but you'd better close all your long positions on the first signs of strength we get, because that's all you're going to get.

I agree

silicon_beaver wrote:Flee into camp of bulls. seems easier to make $$$.

Happy weekend.

11/11/2011

I hold both long and short positions (small). I think it is going to be choppy; but we are all so aware of how difficult the situation is that I will drop my longs if Cobra sneezes , has a cold and cannot give me his target price! Having said that, since there seems to be a majority of bears like me, that in itself is a bullish sign! So, as usual... we will see

These sentiment remind me of Jackson Hole 2010. Much pessimism about whether bond purchase program work. However as we saw with qe2, as long as they buy bond, all asset classes just levitate to galaxy far far away

No way further up. Past the 200ma on most indexes would indicate market rigged -

Richarab wrote:No way further up. Past the 200ma on most indexes would indicate market rigged -

the market is rigged.

this is the week we break and hold the 200sma on SPX up near 1273-4. 3rd time is the charm

First vote
Bullish it is.
Someone will find a printing press for Europe and us benefits from being least worse of worst. Bull for few months. Will then revalu as market just changes so quick these days

No.

Cobra: Could you make a poll to see the percentage of people winning or losing this year so far?
1.up
2.even(up or down 2%)
3. down

the correction has not yet begun. it will not begin before reality sets in and people realize that there is no easy way out of the sovereign debt problems that exist here and in Europe.

LOSER wrote:Cobra: Could you make a poll to see the percentage of people winning or losing this year so far?
1.up
2.even(up or down 2%)
3. down

you can create a poll yourself, this forum is open to everyone.

Cobra wrote:

LOSER wrote:Cobra: Could you make a poll to see the percentage of people winning or losing this year so far?
1.up
2.even(up or down 2%)
3. down

you can create a poll yourself, this forum is open to everyone.

but ppl don't visit the poll thread unless you post it on the front page...

for now. maybe one more run toward 1300. still looking for shorting opportunities.