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!

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

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

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  5. Cobra,

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

    Thanks.

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  6. 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

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

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

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

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  10. CPCE doesn't say anything about tomorrow.

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  11. dropping loads all over the cpc charts..ughhhhhhhhhh!!!!!!!!!!!!

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

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

    ReplyDelete
  14. Cobra,

    I started a new blog. Please check it out.

    http://macddaddy.blogspot.com/

    ReplyDelete

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