10/11/2010 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 as the mini price target hasn’t met not because it’s safe to do so.

VIX dropped out of its BB bottom, which could trigger a potential SPX short setup if VIX rises back into its BB in the coming days. I’ve discussed this setup in 04/13 Market Recap. Basically, disregard the current trend, the setup if triggered, had 61% winning rate while if the SPY ST Model was in sell mode, it’d have 100% winning rate.


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