Cobra's Market View

well, I think there're chances the low was in for today. could be a double bottom here.

option monster

http://www.youtube.com/watch?v=C4QOCjSG ... UuLtU7s%3D

EURUSD higher high, 4th from the low. But the up move is overlapped, looks corrective. Maybe more down tomorrow.
Edit: As Cobra said in the past, if bears don't dare to hold overnight and sure looks like it, tomorrow most likely will be red.

wow, double bottom so fast. 8 white bars on the 5minutes.

not a valid breakout but no harm to know the target.

trendlines...watch breakdown 1385?, or could be another triangle forming, or another bull flag.. or...?

Cobra,
Thoughts on FCX? It broke down after a near month of consolidation. Filled the December end gap, but held so far. Looking at prior quarter ends, there's a sell-off, it usually makes a move the first part of the following month.

usctrojan99 wrote:Cobra,
Thoughts on FCX? It broke down after a near month of consolidation. Filled the December end gap, but held so far. Looking at prior quarter ends, there's a sell-off, it usually makes a move the first part of the following month.

Highly correlated to the metals (and well equity). Not likely to rally if the market goes down. So if you think we're headed to 1500+, damn good buy with FCX. I'm long at 37 (but not from this time around) and holding, maybe adding.

Cobra wrote:not a valid breakout but no harm to know the target.

My lead man says sell. this is the decision point

usctrojan99 wrote:Cobra,
Thoughts on FCX? It broke down after a near month of consolidation. Filled the December end gap, but held so far. Looking at prior quarter ends, there's a sell-off, it usually makes a move the first part of the following month.

Not good looking, a breakout, measured move target. I don't believe 100% target but 61.8% is possible.

usctrojan99 wrote:Thoughts on FCX?

Look at JOY too. It's more hammered than FCX.

Since FCX came up a few time today, here's someone else's views.
http://blog.kimblechartingsolutions.com/
Nice for the simple folks like me that prefer to not watch the 5min all day, heh.

normally, should be 2 legged up here.

BullBear52x wrote:

Cobra wrote:not a valid breakout but no harm to know the target.

My lead man says sell. this is the decision point

When you say sell do you mean go short for breakdown or sell your shorts because market is going up?

Cobra wrote:

usctrojan99 wrote:Cobra,
Thoughts on FCX? It broke down after a near month of consolidation. Filled the December end gap, but held so far. Looking at prior quarter ends, there's a sell-off, it usually makes a move the first part of the following month.

Not good looking, a breakout, measured move target. I don't believe 100% target but 61.8% is possible.

At the end of last December, we saw a dip below that horizontal trend line, and saw a huge run up in January. Not saying it will happen here, but will be interesting to see what happens. Commodities have been hammered all day. I've got FCX with an average of $38 and getting a decent 3% yield. Considering dipping in but hesitant as this could turn down to $33-$34, as well. May scale in a little right here.

Valance wrote:

BullBear52x wrote:

Cobra wrote:not a valid breakout but no harm to know the target.

My lead man says sell. this is the decision point

When you say sell do you mean go short for breakdown or sell your shorts because market is going up?

I'll be more clear next time, normally it's intraday move, some times couple times a day. you can get better idea of what's in my mind click my link below.

Alison ... http://www.youtube.com/watch?feature=fv ... Bs2N1UCvY4

LME copper price futures stepping down four months out so far. Silver must hold this 32/oz support or risk 30 then 28. China is key.

BullBear52x wrote:

Valance wrote:

BullBear52x wrote:

Cobra wrote:not a valid breakout but no harm to know the target.

My lead man says sell. this is the decision point

When you say sell do you mean go short for breakdown or sell your shorts because market is going up?

I'll be more clear next time, normally it's intraday move, some times couple times a day. you can get better idea of what's in my mind click my link below.

Thx Bull- checked out your page.