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

at

18 comments:

  1. 开小差August 11, 2009 at 6:18 PM

    thx, ding

    ReplyDelete
  2. GenX Anti-HeroAugust 11, 2009 at 6:20 PM

    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
  3. AnonymousAugust 11, 2009 at 6:21 PM

    good to know.. thanks a bunch!

    ReplyDelete
  4. CobraAugust 11, 2009 at 6:23 PM

    GenX, thanks for the update!

    ReplyDelete
  5. AnonymousAugust 11, 2009 at 6:25 PM

    3x

    ReplyDelete
  6. Pivot TrendAugust 11, 2009 at 6:32 PM

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

    ReplyDelete
  7. JeffAugust 11, 2009 at 6:32 PM

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

    ReplyDelete
  8. JeffAugust 11, 2009 at 6:40 PM

    Cobra,

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

    Thanks.

    ReplyDelete
  9. AnonymousAugust 11, 2009 at 6:40 PM

    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
  10. CobraAugust 11, 2009 at 6:43 PM

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

    ReplyDelete
  11. CobraAugust 11, 2009 at 6:44 PM

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

    ReplyDelete
  12. AnonymousAugust 11, 2009 at 6:57 PM

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

    ReplyDelete
  13. CobraAugust 11, 2009 at 7:11 PM

    CPCE doesn't say anything about tomorrow.

    ReplyDelete
  14. AnonymousAugust 11, 2009 at 7:26 PM

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

    ReplyDelete
  15. AnonymousAugust 11, 2009 at 8:10 PM

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

    ReplyDelete
  16. CobraAugust 11, 2009 at 8:58 PM

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

    ReplyDelete
  17. MACDaddyAugust 11, 2009 at 9:50 PM

    Cobra,

    I started a new blog. Please check it out.

    http://macddaddy.blogspot.com/

    ReplyDelete
  18. AnonymousAugust 11, 2009 at 9:54 PM

    Thanks Cobra.

    ReplyDelete