Live Update

Tuesday, August 11, 2009

08/11/2009 After Bell Quick Summary

I expect an up day tomorrow because CPC closed below 0.8 today which according to the chart below (counting dashed green lines vs dashed red lines), 76% chances a green close tomorrow.

CPCWatch

Also a Firework trading setup was triggered. (Note: I’ve modified the setup a little, added CPCE <= 0.56 as an additional exit condition. So the previous “firework still on” conclusion here should be wrong now, but anyway, the result is the same whether you acted on the previous setup and held until now or decide to follow the setup today.)

Firework

18 comments:

  1. Cobra I read your post everyday and can't thank you enough for all the hard work you put in. I find it really invaluable. I own some AUG SPY 96 lottery puts, only because I believe the top is in already (at least for a little bit).

    http://www.screencast.com/users/lostillini/folders/Jing/media/abdb185c-3f6f-467e-bd3d-3b9db49771c1

    and if I can put in a shameless plug for my blog...

    http://genxantihero.blogspot.com/

    ReplyDelete
  2. good to know.. thanks a bunch!

    ReplyDelete
  3. GenX, thanks for the update!

    ReplyDelete
  4. Looks that I should clear out my short positions, Thanks!

    ReplyDelete
  5. So I have just bought back some FAS for an up day tomorrow.

    ReplyDelete
  6. Cobra,

    Is it true that dashed red lines are usually in high 0.70's (close to 0.8)?

    Thanks.

    ReplyDelete
  7. i'm looking forward to see how this plays out.
    i think it was Joe Terranova (a cnbc fast money trader) http://www.cnbc.com/id/17440009/
    who said the institutions would sell at our present fib level..... let's see how long this resistance lasts... it was Joe that said the nasdaq was being stopped by resistance from 2007 high... picture link http://img12.imageshack.us/img12/6310/fibs.png

    ReplyDelete
  8. Jeff, dashed red lines mostly are right at 0.8, some are in between 0.7 and 0.8.

    ReplyDelete
  9. Anon at 6:40pm, nice chart, thanks!

    ReplyDelete
  10. Cobra, CPC and CPCE both suggest a green close most likely tomorrow?

    ReplyDelete
  11. CPCE doesn't say anything about tomorrow.

    ReplyDelete
  12. dropping loads all over the cpc charts..ughhhhhhhhhh!!!!!!!!!!!!

    ReplyDelete
  13. Cobra, since today CPCE = 0.65 which > 0.56, does it suggest a green close the next day?

    ReplyDelete
  14. CPCE shouldn't be used that way. Only <= 0.56 matters. > 0.56 cannot predict the next day.

    ReplyDelete
  15. Cobra,

    I started a new blog. Please check it out.

    http://macddaddy.blogspot.com/

    ReplyDelete

Disclaimer

The information contained on this website and from any communication related to the author’s blog and chartbook is for information purposes only. The chart analysis and the market recap do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor.

This websites provides third-party websites for your convenience but the author does not endorse, approve, or certify the information on other websites, nor does the author take responsibility for a part or all materials on the third-party websites which are not maintained by the author.