10/27/2011 Trading Signals

Cobra's Market View Private Messaging System shows:


The bottom line, the market showed a renewed strength, so we need a new plan as a higher high is almost guaranteed tomorrow and the very first dip, if any, would very likely be bought.

I have no idea about tomorrow, short at today’s close used to be a very good bet until recently, so not sure if it works this time or not.


  • HighRev

    The European press is quite happy with the results. Sarkozy is doing a prime time interview explaining the results of the summit to the French people. Italy is happy again as the Liga Norte says it’s not the time for elections. Spain is complaining though that Europe was injust with the Spanish. All in all, the general feeling is positive and the look ahead is now focusing on how Europe’s plan is going to be presented and received at the upcoming G20.

    We’ve got powerful bullish technicals combined with a powerful fundamental catalyst (not to mention the current positive earnings season and improving U.S. macroeconomics).

    • R M

      Highrev, I believe your analysis is dead wrong on all three counts.  Technical, fundamental, and macroeconomic.

      • Hi RM . I am feeling the same way. when do you think the markets can correct themselves. I mean two days agon fundamentals sucked now they are all nice and rosy…  I am trapped on my short !

        • Anonymous

          I guess you guys all forgot about QE1/QE2 in the US???  Market rallied for months and months! If you are over leveraged on the short side then its time to sell on the next pullback. 

    • tytobebad

      Where can I get a deal like GREECE , you borrow a truck load of cash , say Im not doing well right now , give my debt a 50% discount , and here is the kicker , we will still lend you more money if you need it. what person, would turn that down? When you owe someone a million its YOUR problem, when you owe someone a billion ,ITS THEIR PROBLEM.  

  • tytobebad

    ZBT at 65, $nymo at 93.7. T2122 at 95.5 , come on Cobra yell OVERBOUGHT  and sink this thing, if those are not overbought readings , then  what are?

    • prepare for the worst, let’s say another 4% up tomorrow morning. 🙂

      • tytobebad

        Even Laslo Birinyi, the perma bull , just said the”‘absolute sell price” of spx 1291. SO start your blog with OVERBOUGHT and let the party begin.

        • HighRev

          Yeah, but Laslo is a fade trade. lol

      • HighRev

        That would *almost* put the NDX at new post 2009 highs. 😉

        (That’s an absolutely beautiful chart on the NDX by the way. Beautiful intraday backtest to the 200 DMA and what *was* ST rising resistance. Very bullish looking, and surely very bearish if it were to fail. That’s a big ST level at 2695-2720ish.)

  • KL

    what chart service do people use here? 
    I was curious what the NYMO and McClell. oscillators are saying. 

    • NYMO = McClellan Oscillator. It’s overbought but not at historical high yet. 🙂

  • Anonymous

    thx, ding

  • Anonymous

    Cobra, would it be possible for you to post your trades for the short-term model in realtime?  I’d like to study it by following it in my simulated trading account, but, that would only be possible if I could get the same entry and exit prices as you.  And, as always, thanks for all your great work.

    • Sorry, cannot do that now.

  • gulph4

    I think SHORT at the close today will work tomorrow.  The TICK has been drifting down the past few days while the market has been going up.  The TRIN hit the magic 0.4 at the close.  Most indices hit their upper BB.  The VIX fell below its channel line and I am willing to bet that the McClellan Osc. made a smaller peak = Neg D.  The markets will sell the decline as mere profit taking at first, as they gut the bulls in the process over time.  Who in hell is running this market ?  

  • tytobebad

    Cobra, can you take a look at a chart of the SPX with overlays of ZBT and T 2122 , I dont have chart capabilities to do so, and let me know what you think?TIA

    • Overbought. nothing else.

  • Anonymous

    Thanks Cobra.

  • Cobra, sorry to throw this in here with no relation but what you think of the QQQ being as close as the 2000 highs? 

    • because of AAPL which weight’s 16%, so might not mean anything.

      Besides, it’s far below that of year 2000 high.

  • uempel

    BPNYA up 18.75%, BPCOMPQ up 12.18%, BPNDX up 12.31%, BOEX up 7.89%, BPSPX up 10.63% and BPINDU up 14.29%. BPSPX chart looks toppish, but I wrote that yesterday too.

    • I’ve been saying a top of some kind for about a week now, so you’re still better than me. 🙂

      • uempel

        Cobra, I’m not so sure about that,..  But one thing I do know: even though you kid me for my countertrend plays, I managed to make $ by shorting ES today. I covered half an hour ago, just below 1278. Of course I would have made much much bigger $ with a long position, but I did not anticipate the break at 1270. I closed longs there and I was flabbergasted by the move higher from 1270/75, did not expect it, no way. Glad I didn’t start shorting too early. I still got a short on European indices, but that’s another story. I’ve got a good entry point and the markets will dip at the opening. Sleep well old man…

        • No, I didn’t kid you. I hope you’re right this time for calling a top of some kind. Too bad you’ve covered already.

  • Anonymous

    Hi Cobra,
    I like your new format a lot and always very impressed with your efforts. I have been digging into the 13/34ema crosses with the 3/7/9dma for signals with ATR for risk and RSI for restraint. I calculate all of my own dma’s, ema’s, pivots, and rsi’s into my spreadsheet. Maybe too complicated for my novice mind to handle…but working on it. Your new format gives me a great place to compare. Thanks
    My investment stuff will be added via blog to my new web page. 

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