05/17/2012 Live Update

[Richarab]

Closed shorts, went long.

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are you kidding?

[uempel]

Closed shorts, went long.

1.png

are you kidding?

No, expecting a bounce here.

[Petsamo]

I repurchased my F, sold earlier. That's $14 for Chuck Schwab, $11.02 for me.

[Cobra]

bears really are working hard but better more.

[Richarab]

Closed shorts, went long.

1.png

are you kidding?

No, expecting a bounce here.

ok. contracts for NQ - i cant believe facebook ipo wont drive that thing north

[uempel]

Closed shorts, went long.

1.png

are you kidding?

No, expecting a bounce here.

Richarab, this is panic selling...

[SB73]

Cougar,

You mentioned an up reversal on DUST. Can you please clarify. Thanks to all of those that consistently post solid commentary with good charts. Sorry I am unable to contribute much due to work load and inability to focus on the market. Following the trend has been the best answer.

Also, I was going to comment on that post about DUST.

Personally, I would avoid it as GDX has hit a panic low (low of Jan 31), and is bouncing; it is currently forming a doji with
a fairly long whisker on the weekly chart.
I have been slowly nibbling on GDX as it makes lower and lower lows, but am cautious here and I am not going to back
up the truck and/or buy NUGT until I see a confirmed uptrend on $HUI.

Ok Guys… The answer to my Q was delayed and I am very busy now…
I’ll clarify what I was talking about later…with fresh charts.
Thanx for your interest!

I wanted to discuss potentially interesting trade:
DUST had dropped from a parabolic UP. At 161.8% extension it found support and an opportunistc and risky BUY signal appeared on the daily chart.
However if you bought it (like I did) how long keep it? For that we look for confirmation on the 60 min chart…and it appears that DUST could not break the “yellow resistance “ above… but when I asked that Q, it was not clear.
In the meantime I sold it for a profit.

Thanks Cougar...keep up the good work

[Al_Dente]

PAGING Jim:
Pls make sure your “prv msg” is “enabled”
???

[Cobra]

Closed shorts, went long.

1.png

are you kidding?

No, expecting a bounce here.

Richarab, this is panic selling...

agree. finally some panic.

[LONDONBOYZ09]

Hi Cobra,

Thanks for the wonderful work.

What is the downside target for DAX?

regards,

[Richarab]

Closed shorts, went long.

1.png

are you kidding?

No, expecting a bounce here.

Richarab, this is panic selling...

agree. finally some panic.

so i should buy yeah? I am confused... needless, i have that me and all my facebook friends will rescue the markets tomorrow. i send a friend request out today to all my facebook friends and told them about it. about 5 replied and said they buy in the markets with me tomorrow.

[SigmaEcho]

Closed shorts, went long.

1.png

are you kidding?

No, expecting a bounce here.

Richarab, this is panic selling...

agree. finally some panic.

raising cash to buy Facebook?

[Petsamo]

X doing surprisingly nice, not as beat up as IWM

[Cobra]

Hi Cobra,

Thanks for the wonderful work.

What is the downside target for DAX?

regards,

check my public chart list, now it's the 3rd chart of the list, you won't miss it. http://stockcharts.com/public/1684859

[KENA]

Closed my SPY shorts holding since mid APR. If we go dn tomorrow I will day trade it.

[Cobra]

well, guess that's it for today, I finally see some panic, the question is: is it enough? Well, too dark to see the future is... I think the answer is clear for members as the blue line of the short-term evil plan was broken again... thank you guys, I'll see you tomorrow.

[fehro]

one more spike down? bottom of channel?

[Richarab]

its not bouncing mr.upmle

[Petsamo]

Closing at the lows gives a better chance of a gap up, but it'll be the 3rd day in a row of unexpected gap up

[snakehead]

Closing at the lows gives a better chance of a gap up, but it'll be the 3rd day in a row of unexpected gap up

My own opinion: There should be a bounce tomorrow due to OPEX.
Disclosure: Just bot a load of XIV after-hours at 9.11