10/08/2010 After Bell Quick Summary

Cobra's Market View Private Messaging System shows:

The bottom line, the short-term trend is up and I hold tiny little long position over the weekend, not sure if it’s safe though.

I’m a little bearish biased toward the next Monday for 2 reasons:

When ISEE Indices & ETFs Only Index closed above 100, 25 out of 35 times (71%) SPX would close below today’s close within 2 trading days.


When TICK closed above 1,000, slightly bearish the next day,  at least SPX was unlikely to up huge.


Enjoy your weekend! And happy Thanksgiving for my fellow Canadians!

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