11/08/2011 Trading Signals | Cobra's Market View

11/08/2011 Trading Signals


SHORT-TERM MODEL BELIEVES THE TREND IS UP, HODING BOTH LONG AND SHORT (TRAPPED) OVERNIGHT

Another impressive intraday reversal, but I’m still not convinced that bears are over. At least odds are high whatever up tomorrow would be erased the day after tomorrow and if tomorrow gap up and goes lower again, I won’t bet another Prime Minister to resign (to save the world) because the 3rd time is the charm.

Tomorrow is perhaps the most bullish day of the week, up 9 out of 13 since the August lows. No other weekdays (since the August lows) can match this record.

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16 Comments on "11/08/2011 Trading Signals"
  1. Comment left on:
    November 8, 2011 at 5:11 pm
    HighRev says:

    Everyone knows what I’ve been saying. Sorry for being so obnoxious.

    http://img11.imageshack.us/img11/3528/spxcycle2081111.jpg

    • Comment left on:
      November 8, 2011 at 9:21 pm
      Anonymous says:

      that is one nice looking chart…very colorful and symmetrical too…probably better off in an art museum than a trading forum!

  2. Comment left on:
    November 8, 2011 at 5:17 pm
  3. Comment left on:
    November 8, 2011 at 5:39 pm
    uempel says:

    Shorted ES at the close, SPX 1275/77 is good resistance. I’m not expecting a huge dip tomorrow, but I doubt there will be an immediate push to the upside. Quite happy if it’s only a scalp.

    • Comment left on:
      November 9, 2011 at 3:54 am
      uempel says:

      9 handles down and I cover (Wednesday 3.30 am)

  4. Comment left on:
    November 8, 2011 at 6:03 pm
    Anonymous says:

    thx,ding

  5. Comment left on:
    November 8, 2011 at 6:22 pm
    uempel says:

    Bullish percentages: NYSE up 0.70%,  Compq up 0.61%, OEX and INDU flat, NDX up 5.88% (!), SPX up 1.62%%. 
    Here a look at the BPSPX chart:

  6. Comment left on:
    November 8, 2011 at 7:14 pm
    Anonymous says:

    Cobra, I don’t understand the reason for closing the SSO long entered on 10/27. It did not hit your stop loss. Did you do it to keep the account long/short neutral?

    • Comment left on:
      November 8, 2011 at 7:30 pm
      Cobra says:

      Remember I said, it should be closed yesterday? See yesterday’s Trading Signals. 

      • Comment left on:
        November 8, 2011 at 7:35 pm
        Anonymous says:

        Thanks a lot!

        • Comment left on:
          November 8, 2011 at 7:37 pm
          Cobra says:

          Should have closed yesterday’s long but in order for the data looks neat, so I set to close the old position. The final result should be the same.

          • Comment left on:
            November 8, 2011 at 8:06 pm
            Anonymous says:

            I see, it does make more sense for you to close these positions yesterday …

  7. Comment left on:
    November 8, 2011 at 11:13 pm

    cobra have you been following the RED … on your list on the right side saying he is expecting some crash tomorrow? has he been correct in anything ? seems  a bit…. too human . I know you marisians are better at reality !

    • Comment left on:
      November 9, 2011 at 12:08 am
      Cobra says:

      No, I didn’t follow red. He used to comment a lot here, so when he opened his own site, put his link in my blogroll.

  8. Comment left on:
    November 9, 2011 at 3:12 pm
    Anonymous says:

    With this huge down day and the Impulse System still in buy mode (unless it no longer is), does it look like it will buy the dip?

    • Comment left on:
      November 9, 2011 at 11:36 pm
      Cobra says:

      no signal yet.

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