12/26/2012 Live Update

[Cobra]

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Small gap up within Monday's range, so the gap might be filled.

I see possible Pennant on the Global ES which usually means continuation, so the bias is a little little bit on the downside.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2012/12 ... ay-update/

[Petsamo]

Crazy Japanese
They were closed on Christmas Eve, but they were open on Christmas Day.
Japan & India were the only markets open overnight, and they rallied.

[Cobra]

the open.

[L_T]

Oil!

[Mr. BachNut]

Long.

My composite trend indicator signal has been taking damage but remains up.
My summation index signal is on the cusp of turning down. Bulls need to get moving.
The S&P component of the summation index signal in fact went to down on Monday, but the light trade makes it a little suspect.

I am anticipating two way trade between now and the end of next week.
Stops are accumulating above and below some key levels, and there ought to be news to trigger running them both. Not to mention year-end dynamics.

I am kind of in vacation mode. So, my orientation is to close out positions, but I'll respond to the tape as necessary.

[more_more]

Hi Cobra and other experts,
Could you tell me the relationship between $SPX, SPY and E-mini ES? I find out ES is a little bit different from SPY. I need to figure it out before play ES.
And what is the price difference between Russell 2000, IWM, and E-mini TF. TF is difference from Russell 2000, too.
Thanks a lot!

[Cobra]

nothing to say, might be another boring day. Now we have an open range, so just wait for the range breakout first.

[Cobra]

oil may finally breakout as expected. https://stockcharts.com/public/1684859/ ... /125240869

[Cobra]

Hi Cobra and other experts,
Could you tell me the relationship between $SPX, SPY and E-mini ES? I find out ES is a little bit different from SPY. I need to figure it out before play ES.
And what is the price difference between Russell 2000, IWM, and E-mini TF. TF is difference from Russell 2000, too.
Thanks a lot!

Welcome aboard.

SPX is S&P 500 index.
SPY is ETF trading SPX
ES is e-mini futures trading SPX. 1 ES equals to 500 shares SPY (I mean you can think this way) but it only request $4,500 to maintain 1 contract, so it's a leveraged play of trading SPX.

They have different price, there's a rough conversion rate but it's not always fixed. It doesn't matter, they move together at the same rate, so generally, you don't need know the price difference.

If you're not experienced, please don't trade ES, it's not for beginner.

[Cobra]

members only update at 10:11am
http://www.cobrasmarketview.com/2012/12 ... ay-update/

[Cobra]

a little bit Descending Triangle shape, so the bias is a little bit on the downside.

[more_more]

Hi Cobra and other experts,
Could you tell me the relationship between $SPX, SPY and E-mini ES? I find out ES is a little bit different from SPY. I need to figure it out before play ES.
And what is the price difference between Russell 2000, IWM, and E-mini TF. TF is difference from Russell 2000, too.
Thanks a lot!

Welcome aboard.

SPX is S&P 500 index.
SPY is ETF trading SPX
ES is e-mini futures trading SPX. 1 ES equals to 500 shares SPY (I mean you can think this way) but it only request $4,500 to maintain 1 contract, so it's a leveraged play of trading SPX.

They have different price, there's a rough conversion rate but it's not always fixed. It doesn't matter, they move together at the same rate, so generally, you don't need know the price difference.

If you're not experienced, please don't trade ES, it's not for beginner.

Thank you Cobra. I think I am experience. I knew that RUT will have a little gap up open and the gap will close. I want to know the corresponding E-mini TF's proce when the gap close. That is, I can sell TF when I think the gap up is big enough before the market open, then set a buy order when the gap close. But I need to know the corresponding TF price when gap closes. Thanks a lot!

[Cobra]

target.

[Nage]

Cobra, the VIX has been going up much more recently compare to the index move, any previous example like this? thanks

[BullBear52x]

MACD daily is now in the RED, there maybe a reaction to that, so next intraday buy the dip will tell if the buying will have a meaning to it.

[Petsamo]

I just noticed that QQQ has been taking a beating the past 4 months, relative to IWM, maybe due to AAPL. So if anyone wants to go long on something, QQQ is probably better than IWM. QQQ is a diversified version of AAPL (that's a joke).

[Cobra]

Cobra, the VIX has been going up much more recently compare to the index move, any previous example like this? thanks

I think it's not a rare case, just cannot think of an example at the very moment.

[Cobra]

target reached, now testing Monday low, key time.

[gappy]

Cobra, the VIX has been going up much more recently compare to the index move, any previous example like this? thanks

http://qusma.com/2012/12/02/hedging-vix ... using-spy/