Cobra's Market View

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no idea up or down here, need see more bars.

members only update starts here: http://www.cobrasmarketview.com/2017/11 ... ay-update/

Opens down at yesterday's low. Have to see if it keeps on going or if that will provide support...

This is not healthy so far.

TICKs not helping....

Once again the modest RS of the Russell 2000 vs the other majors is worth noting.

this bear may have legs?

S2 looked like a lot of white chart five minutes ago and here we are. This could grind down all morning at this rate.

Cobra wrote:this bear may have legs?

If so, energy will lead to the downside. XLE already down >1%.

Daniel wrote: If so, energy will lead to the downside. XLE already down >1%.

The Venezuelan bond situation is chaos. Apparently the market thinks they will find a way. Against that the Paris user group says the producers don't know how to estimate demand, they see it falling. Bottom line you can only go so far on jaw boning and hedge funds. When you start pinching the Walmart crowd they stop driving.

VIX >20d/50d/200d VIX expiration tomorrow… those 20d are falling fast Indexes… LODs go look out below!

Levered Smalls poking its head through the bottom of the box....

Gold futures just had a ST rally on the 3 minute chart..

te_fern wrote:Gold futures just had a ST rally on the 3 minute chart..

stalled at 20d/20w SMA convergence.. mind the head fake..

Whale Ray Dalio
Bought 577,264 GLD shares, for $68.1 million, as well as 3.1 million IAU shares worth $36.8 million.
13F, posted yesterday
http://www.zerohedge.com/news/2017-11-1 ... est-holder

Al_Dente wrote:

whale watching.png.png

Whale Ray Dalio
Bought 577,264 GLD shares, for $68.1 million, as well as 3.1 million IAU shares worth $36.8 million.
13F, posted yesterday
http://www.zerohedge.com/news/2017-11-1 ... est-holder

I have a short term trade in NUGT which is now a longer term trade. Need a big rally in gold soon, as these levered ETF's are a deprecating asset!

SPX bounced right at the Nov 9 low.....

Fresh
El Arian is being considered for FED Vice Chair

te_fern wrote:

Al_Dente wrote:

whale watching.png.png

Whale Ray Dalio
Bought 577,264 GLD shares, for $68.1 million, as well as 3.1 million IAU shares worth $36.8 million.
13F, posted yesterday
http://www.zerohedge.com/news/2017-11-1 ... est-holder

I have a short term trade in NUGT which is now a longer term trade. Need a big rally in gold soon, as these levered ETF's are a deprecating asset!

mind that US dollar… holds in this pull back area.. 93.75 50d and goes up again.. looking for a shocking up move.. imo .. gold will get smacked very hard.. key level 1265-1245 that goes.. look out below! look to 1165ish that goes then look to 1075.. that goes. then 950 … Ray may regret it.