Cobra's Market View Private Messaging System shows:
|Trend||Momentum||Comments - Click here for how signals are used. Warning: This is NOT a trading recommendation!|
|Short-term||Up||Overbought||May need take profits.|
|Report Focused On||Buyable dip or the market topped?|
|Today’s Summary||A trend table is needed to prevent confusion.|
From comments I saw some confusions here, so from now on, I’ll use a trend table like above to avoid confusions. As this is just a market recap not a trading recommendation report, so more often than not the focus is about finding the top or the bottom and therefore it may seem like it is sometimes against the current trend. So it’s necessary to have a trend table here to make it clear what the current best trading action is so as to separate it from what the report is mainly focused on.
I think I said I’d buy dip here 03/23/2009 Market Recap: Very Short-term Overbought although I didn’t believe this rally and till now I still don’t believe it. But the emotion is the emotion, the trade is the trade, they’re totally two different things. Whether I believe it or not, I’ve kept saying that I don’t argue with the signals. And here is how I “don’t argue with the signals”, Don't know what I say everyday? Here's a simple version.