Gap up above Friday's high so chances are the gap won't be filled. Cannot believe exactly the same game repeated and repeated 3 times...
Key time for Global ES, because now it's the 2nd time to revisit the previous high, so no failure allowed for bulls here. Let's see.
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I am noticing in the media an absolutely insatiable desire to own equities. It will never cease to amaze me how schizophrenic the market is which is why it is good to have a snake in my corner.
Well I said on Friday that I had dumped the majority of my TVIX, but was holding a token position just in case Greece was on fire Monday morning. Well Greece is on fire and TVIX down 10%. Glad I took some profits.
I am noticing in the media an absolutely insatiable desire to own equities. It will never cease to amaze me how schizophrenic the market is which is why it is good to have a snake in my corner.
Well I said on Friday that I had dumped the majority of my TVIX, but was holding a token position just in case Greece was on fire Monday morning. Well Greece is on fire and TVIX down 10%. Glad I took some profits.
I also dumped my TVIX which I had been holding for awhile...broke even on the trade.
The bad news is that this initially doesn't look like any follow through for bears, and could easily be seen as yet another bounce off the 10day MA.
The good news for bears is that should the bulls fail to make a new high today, it would be the start of a topping pattern (something Cobra has been looking for this entire run up). Technicals were indicative of a top, but the pattern was not - perhaps this is the start of such a pattern.
SB73 wrote:Cobra, I am noticing in the media an absolutely insatiable desire to own equities. It will never cease to amaze me how schizophrenic the market is which is why it is good to have a snake in my corner.
Well I said on Friday that I had dumped the majority of my TVIX, but was holding a token position just in case Greece was on fire Monday morning. Well Greece is on fire and TVIX down 10%. Glad I took some profits.
I also dumped my TVIX which I had been holding for awhile...broke even on the trade.
The bad news is that this initially doesn't look like any follow through for bears, and could easily be seen as yet another bounce off the 10day MA.
The good news for bears is that should the bulls fail to make a new high today, it would be the start of a topping pattern (something Cobra has been looking for this entire run up). Technicals were indicative of a top, but the pattern was not - perhaps this is the start of such a pattern.
Bloomberg calls this “chop and churn,” okay then, good morning all.
Jarbo, please page me when/if u r available to field a dumb options question. Thanks, Al
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
I am noticing in the media an absolutely insatiable desire to own equities. It will never cease to amaze me how schizophrenic the market is which is why it is good to have a snake in my corner.
Well I said on Friday that I had dumped the majority of my TVIX, but was holding a token position just in case Greece was on fire Monday morning. Well Greece is on fire and TVIX down 10%. Glad I took some profits.
I also dumped my TVIX which I had been holding for awhile...broke even on the trade.
The bad news is that this initially doesn't look like any follow through for bears, and could easily be seen as yet another bounce off the 10day MA.
The good news for bears is that should the bulls fail to make a new high today, it would be the start of a topping pattern (something Cobra has been looking for this entire run up). Technicals were indicative of a top, but the pattern was not - perhaps this is the start of such a pattern.
Time to watch the first 1/2 to 1 hour of trading to see what transpires. A quick reversal and bears are in business a rise / consolidation and we could be testing the 1370 mark quickly. Gotta stay nimble on this one.
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SB73 wrote:Cobra, I am noticing in the media an absolutely insatiable desire to own equities. It will never cease to amaze me how schizophrenic the market is which is why it is good to have a snake in my corner.
Well I said on Friday that I had dumped the majority of my TVIX, but was holding a token position just in case Greece was on fire Monday morning. Well Greece is on fire and TVIX down 10%. Glad I took some profits.
I also dumped my TVIX which I had been holding for awhile...broke even on the trade.
The bad news is that this initially doesn't look like any follow through for bears, and could easily be seen as yet another bounce off the 10day MA.
The good news for bears is that should the bulls fail to make a new high today, it would be the start of a topping pattern (something Cobra has been looking for this entire run up). Technicals were indicative of a top, but the pattern was not - perhaps this is the start of such a pattern.
Bloomberg calls this “chop and churn,” okay then, good morning all.
Jarbo, please page me when/if u r available to field a dumb options question. Thanks, Al
jarbo, u r on a desert island…you can only choose one:
1) VIX and all its brethren
2) put call ratios with all their permutations and variations
Choose ONLY one (this is not a joke)
again, here's all the 1st hourly black bar. All had pullback in the next bar or two but all the dips were bought. Let's see if today could be a little different.
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Euro and AUDJPY are all sold. below the Sunday night opening level now.
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