Cobra's Market View

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Big gap down below yesterday's low so the gap might not be filled.

The Global ES is testing the support, let's see if it could hold here. This is the max pullback I'm comfortable with bulls, better no more.

NFP: start low, end high. vice versa. ?

SigmaEcho wrote:NFP: start low, end high. vice versa. ?

Yes, hopefully, as now people may start thinking QE3 is possible.

ES diamond played out.

Cobra wrote:

SigmaEcho wrote:NFP: start low, end high. vice versa. ?

Yes, hopefully, as now people may start thinking QE3 is possible.

Master .... if open low and end high .... what will be next day performance .... ?

ballatines wrote:

Cobra wrote:

SigmaEcho wrote:NFP: start low, end high. vice versa. ?

Yes, hopefully, as now people may start thinking QE3 is possible.

Master .... if open low and end high .... what will be next day performance .... ?

CNBC this morning said this is the worst number possible, bad, but not bad enough for QE3.

ballatines wrote:

Cobra wrote:

SigmaEcho wrote:NFP: start low, end high. vice versa. ?

Yes, hopefully, as now people may start thinking QE3 is possible.

Master .... if open low and end high .... what will be next day performance .... ?

Cobra is thinking ... 1250 next week...

ballatines wrote:

Cobra wrote:

SigmaEcho wrote:NFP: start low, end high. vice versa. ?

Yes, hopefully, as now people may start thinking QE3 is possible.

Master .... if open low and end high .... what will be next day performance .... ?

don't know.

1250 by eom,no positive reaction on Europe and China easing,badNFP,earnings will dissappoint,jack be nimble jack be quick

victorm wrote:

ballatines wrote:

Cobra wrote:

SigmaEcho wrote:NFP: start low, end high. vice versa. ?

Yes, hopefully, as now people may start thinking QE3 is possible.

Master .... if open low and end high .... what will be next day performance .... ?

Cobra is thinking ... 1250 next week...

Apple will lead the rebound ... if there is any ... but i think it is a top short sell stock on my list ~ ~ to go against market

the open. a little too stretched, so might see rebound first.

double top target, by the way. I consider it fulfilled because target is an art not science, roughly it enough.

Cobra wrote:double top target, by the way. I consider it fulfilled because target is an art not science, roughly it enough.

Cobra, so you don't think today will be 20+ spx drop? I think we'd find support around spx 1340 area...

noob wrote:

Cobra wrote:double top target, by the way. I consider it fulfilled because target is an art not science, roughly it enough.

Cobra, so you don't think today will be 20+ spx drop? I think we'd find support around spx 1340 area...

I don't know. every of my calls must be backed by either signals or chart pattern, right now, I see neither, so will have to wait.

How many legs does a bear have?

Short
Going hiking today, so trade will be on auto-pilot with closure at target or stop.
A nice down day should go a long way to clear overbought condition.
So, I don't plan to overstay my welcome.

Cobra wrote:

SigmaEcho wrote:NFP: start low, end high. vice versa. ?

Yes, hopefully, as now people may start thinking QE3 is possible.

Dont think FED will do any QE before we see 1000 on SnP

OverUnder wrote:How many legs does a bear have?

at least 2 legged pullback today. we're on the 1st leg.

gvg wrote:

Cobra wrote:

SigmaEcho wrote:NFP: start low, end high. vice versa. ?

Yes, hopefully, as now people may start thinking QE3 is possible.

Dont think FED will do any QE before we see 1000 on SnP

Personally, I believe absolutely no QE.

But media is indeed controlled by some big guys, they'll try the best to trick you into believing there'll be a QE.

ES should find support in the 1345 area based on trendlines. That is about 1351 SPX. Next is about 1330SPX at the channel bottom. The jobs number did not do much damage (yet). It was a bad number and bad is good.