10/05/2010 After Bell Quick Summary

Cobra's Market View Private Messaging System shows:

The bottom line, the short-term trend is up, I hold partial long position overnight.

A strong up day like today almost guarantees an immediate higher high, so although, officially, a follow-through tomorrow is still needed in case of reversal of reversal of reversal, but judging by today’s strength, I won’t hope much about such kind of reversal of reversal of reversal tomorrow. Rather, as I’ve been saying, a decisive breakout above the consolidation area means bears may have to find the next consolidation area before considering any possible counterstrikes, until then better stay bullish for short-term or at least on the sideline.


© 2013 Cobra's Market View — All Rights Reserved.