Cobra's Market View

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Gap up above Friday's high, so the gap might not be filled.

The rebound on Global ES is well passed "simply a rebound" zone, now bears only hope is Double Top, which, officially has 50% chances but normally I wouldn't count because the trend is up, any counter trend pattern is not easy to realize.

The week's stock picks: viewtopic.php?f=10&t=835&p=119282#p119282

members only update starts here: http://www.cobrasmarketview.com/2013/02 ... ay-update/

Cobra: Your big picture of your evil plan, point down to 1300~1350, what is your time frame for it? month? 3month? 6 month? 1year? or longer?

likewise, bears only hope on DAX is double top which I won't count on.

oldpigwang wrote:Cobra: Your big picture of your evil plan, point down to 1300~1350, what is your time frame for it? month? 3month? 6 month? 1year? or longer?

I don't know time frame, but it's long term.
I said clearly why always assume top is around. Please read 01/25 Market Outlook for why always assume the worst case: http://www.cobrasmarketview.com/2013/01 ... -too-high/, it doesn't mean long-term is bearish. It's kind like guilty until prove innocent.
Target 1300 is not the target, please read the big blue text on the left side, which says "direction only, time and size don't count".
Please do not talk member only related issue here, thanks.

GM

DAX : very tricky structure

Eurostoxx was telling me that this structure ain't gonna be easy Structure is hardly impulsive so watching possible irregular pattern Same with ES, leg up looks corrective (but so far wait and see mode only) Euro is on the money

I expect XIV to top out it's upward correction this morning somwhere around 23.00 to 23.25 before resuming it's down trend. IMHO because I stink.

Cobra wrote:likewise, bears only hope on DAX is double top which I won't count on.

...so this will be the 587th time since this rally started that bears get wiped out? seems too predictable

the open.

Mkt rally on UK downgrade was so obvious.

Overnight China flash PMI came in at 4 month low but nothing about this on front page of MW or Bloomberg. Italian election is going to solve all world problems. Obvious.

jademann wrote:

Cobra wrote:likewise, bears only hope on DAX is double top which I won't count on.

...so this will be the 587th time since this rally started that bears get wiped out? seems too predictable

Jman...don't know if you remember this UVXY chart I posted a while back...shows 5 point wedge before a breakout or in most cases break down....I can only speculate what could happen next...don't rely on for 100% accuracy...but we could see volatile market this week...

DJI retraced more than 100%.

Hi TraderGirl,
Are you thinking the upcoming sequester is going to wake-up this market? As it appears now, Mr. Market does not care about it

Snog not showing any weakness yet. Look at that prediction Thursday night!

TraderGirl wrote:

Vaamsy wrote:UUP - out of BB, double top, topping candle just above the 200SMA. VXX closing below the middle BB. SPY closing above the middle BB. We might actly rip higher next week to get to 1545? I am short but scared, might close position before close

Dollar doesn't always trade hand in hand with market...had a breakout no negativity yet....

I didn't trade what I saw But atleast I reduced my short position before close.

Here is something you don't hear every day: look at the price action in utilities!

Out of Bounds wrote:Snog not showing any weakness yet. Look at that prediction Thursday night!

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thanks snoggy