Live Update

Thursday, August 20, 2009

08/20/2009 Pre-Market Briefing

The SPY may open with an up gap, very small, so most likely it will be filled and a dull day today.

Good luck everyone!

Posted by Cobra at 9:03 AM

17 comments:

  1. GoodAugust 20, 2009 at 9:14 AM

    what is a dull day ?

    ReplyDelete
  2. CobraAugust 20, 2009 at 10:26 AM

    Means don't expect big move either way.

    ReplyDelete
  3. AnonymousAugust 20, 2009 at 12:37 PM

    Cobra, C wave underway?

    ReplyDelete
  4. CobraAugust 20, 2009 at 12:59 PM

    No clue yet. According to my n vs n (which you may not believe), I still see this rebound as weak as it took bulls 3 days to fill a gap, not very impressive.

    ReplyDelete
  5. GoodAugust 20, 2009 at 1:13 PM

    Thanks, BTW I like a lot of your analisis

    ReplyDelete
  6. ivAugust 20, 2009 at 3:24 PM

    Cobra....any thoughts about tommorow yet?

    ReplyDelete
  7. CobraAugust 20, 2009 at 4:04 PM

    CPCE too low, could be a down day.

    ReplyDelete
  8. AnonymousAugust 20, 2009 at 4:25 PM

    Cobra, where did you get CPCE info. before 4pm? Thanks

    ReplyDelete
  9. CobraAugust 20, 2009 at 4:26 PM

    calculated from data here:
    http://www.cboe.com/data/IntraDayVol.aspx

    ReplyDelete
  10. AnonymousAugust 20, 2009 at 4:30 PM

    thanks Cobra

    ReplyDelete
  11. AnonymousAugust 20, 2009 at 4:45 PM

    Cobra...what does the accum/distrib chart look like these days?

    ReplyDelete
  12. AnonymousAugust 20, 2009 at 5:46 PM

    Cobra,
    I honestly think that you shouldn't be so biased that the market is going to go down. This pattern from 982 is similar to the one from 969 to 1018 how come you make the same mistakes again and again. Daneric has done much better than you although I consider you more experienced.

    ReplyDelete
  13. AnonymousAugust 20, 2009 at 5:51 PM

    I meant 869 to 1018. However, I think tomorrow we should really go down, lots of divergences. The moving averages are getting nearer but they are far from crossing, so we can still go higher.

    ReplyDelete
  14. AnonymousAugust 20, 2009 at 5:51 PM

    Hi, I am new to your blog. Could you please explain what's this "n vs n" rule?

    Thanks

    ReplyDelete
  15. CobraAugust 20, 2009 at 6:22 PM

    Anony at 5:46pm, thanks for letting me know. But I didn't fight against this market. I was wong yesterday and today, sure, but I'd been correct the whole week last week, how come didn't you say something? Now the market is up for 3 days but still couldn't recover the previous 2 days loss, I really don't see this bull is strong.

    ReplyDelete
  16. CobraAugust 20, 2009 at 6:27 PM

    Anony at 5:51pm, n vs n rule basically is to say for a equal number of days, eg, 2 up days vs 2 down days which one goes further then perhaps the trend favors the one goes further.

    ReplyDelete
  17. AnonymousAugust 20, 2009 at 9:46 PM

    We should (hopefully) have a big down day tomorrow. McClellan Oscillator rallied right back to the 0 line, a usual resistance area during downtrends, today. Low $CPCE coupled with the fact that everyone is bullish, even the EW bloggers. Reading the message boards on these bearish blogs, even the die-hard bears are concedeing that the market will keep on rallying. It feels so lonely to be a bear.

    Plus, we are getting the "appearance" that this drop will be another bear trap which probably means it won't happen. For example,10 day MA was crossing 20 day to the downside on $NDX yesterday and then the market rallies today to nullify it ala July's action.

    -------Mr. Panic

    ReplyDelete

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