Cobra's Market View

Small gap up but above Friday's high so not sure if the gap will be filled or not. By the way, even with the gap up it still looks like a 3 Push Up, as I mentioned in the weekend report, so bulls need push up further to eliminate the bear's last hope.

The Global ES looks not bad, as long as it can consolidate above 1230, it's would firm the breakout, so no doubt bulls now have advantages.

Good morning!

GM, Cobra.
How high this push up we need to kill bear's hope?

Good Morning.

Gee honey...look at that.
EURUSD http://99ercharts.blogspot.com/2011/10/eurusd_24.html

A Butterfly.

A sighting so early?
ES http://99ercharts.blogspot.com/2011/10/es_24.html

Let's hit the beach.

GLTA.

Hi 99er,

I love your charts and have followed your surfing calls, just dropping a note to say thanks!

This butterfly on the EUR/USD is a negative

Thanks

Good Morning and Thank You for all the great work!

oldpigwang wrote:GM, Cobra.
How high this push up we need to kill bear's hope?

need another strong up day.

99er wrote:Good Morning.

Gee honey...look at that.
EURUSD http://99ercharts.blogspot.com/2011/10/eurusd_24.html

A Butterfly.

Sorry for my ignorence but what does this butterfly mean, new seeking understanding to your view..cheers

zipper wrote:

99er wrote:Good Morning.

Gee honey...look at that.
EURUSD http://99ercharts.blogspot.com/2011/10/eurusd_24.html

A Butterfly.

Sorry for my ignorence but what does this butterfly mean, new seeking understanding to your view..cheers

hey zipper,

just do a search for butterfly technical analysis. just another pattern that you should know anyway.

in short form, this is a bearish pattern, when drawn like this...

the open.

GM Cobra and all
“PRESSURE ON ITALY IN EUROZONE STRUGGLE” last night’s FT report, summary:
“...EU leaders negotiated the three pillars of a package aimed at stemming the crisis. They agreed on the need for EU banks to find €108bn in new capital...Sunday night...17 eurozone leaders [could not reach a conclusion] on ... expand[ing] the .... EFSF – the eurozone rescue fund .... One plan would set up a special fund to attract global investors, including potentially the IMF, that would buy Italian bonds...The other [plan]... would guarantee against losses by bondholders....officials were negotiating with ... international banks to increase their contribution to a new rescue plan for Greece.... Without further cuts in repayments to bondholders, EU and IMF lenders will be saddled with €252bn in bail-out loans until... 2020, according to a confidential EU-IMF study. Negotiators said the two sides remained far apart.... The ...package [is]... supposed to be decided by twin EU and eurozone summits on Wednesday...”
Last night http://www.ft.com [u can subscribe to a few FT stories FREE per month, more on paid sub]
Also, see all yesterday’s/this morning’s zerohedge.com for their “take”

GM,
So many short sellers

yes but cobra you mentioned that monday gangs would be erased... on tuesday. so bulls need more than an up day no ?

zipper

http://www.fx360.com/techAnalysis/chartPatterns.aspx

Commodities and especially FCX strong out of gate
http://screencast.com/t/esV4KYyCctw

CAT squeeze… refreshing for a change, to see a squeeze based on a good reason (eps)

99er wrote:zipper
http://www.fx360.com/techAnalysis/chartPatterns.aspx

appreciate that

BIDU

possible channel / trendline....

I see a sellable below 124.68 spy, IWM <72