05/18/2012 Live Update

[Cobra]

If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list here: http://stockcharts.com/public/1684859/tenpp. You need "follow" only once but vote can be done every 24 hours, so whenever you have time, please vote for me, thanks!

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Flat open, so any gap will be filled.

The Global ES had a dramatic comeback overnight but the chart pattern looks missing one more leg down to at least try the overnight low either with lower low or higher low, let's see.

[grachu]

THE BEST TWEET OF THE DAY>>> OPENING STATEMENT !!! COBRA I LOVEEEEE YOU !!!!!!!!!!!

[parker]

Hi Cobra
When you write flat open you mean you suppose flat open at 9:30?

[Cobra]

DAX H&S Top confirmed broken, text book target 5843, but I prefer fib confluences area which is around 6080. You don't need wait for my every morning update which is not guaranteed for DAX, you can always find DAX info in my public chart list: http://stockcharts.com/public/1684859

I know too obvious to be true some would say which I don't think so because if too obvious to be true can be a reason, then every chart patter is invalid because they all too obvious.

[TraderJoe]

JPM, if you are interested;
Published by The Wall Street Journal and written by Monica Langley.

The Disastrous Trade Losses Could Total $5 Billion and Mr. Dimon personally approved the concept behind the disastrous trades, according to people familiar with the matter. But he didn't monitor how they were executed, triggering some resentment among other business chiefs who say the activities of their units are routinely and vigorously scrutinized.

[Al_Dente]

FB will issue paper stock certificates upon request (true story)
Here’s a (joke) sample of what it will look like
http://www.madmagazine.com/blog/2012/05 ... ertificate

[Mr. BachNut]

Short
Moved stop but added conditional order to close if target hit.
So, position may be closed today.
Also, got McClellan Oscillator extreme buy signal at the close yesterday for execution today.
It is a somewhat risky long trade for a bounce of a few %.
I am golfing this morning so won't act until I get back if it still makes sense.

[Cobra]

Hi Cobra
When you write flat open you mean you suppose flat open at 9:30?

yes.

[Cobra]

THE BEST TWEET OF THE DAY>>> OPENING STATEMENT !!! COBRA I LOVEEEEE YOU !!!!!!!!!!!

[lcgllc]

I'm expecting money to find its way out of the FB allocation and back into AAPL...rip your face off squeeze would be nice...chart is screeming 515, but when do shorts ever get exactly what they want

[cougar]

"The Zone" for this OpEx Fruday: 1304 - 1320

[Cobra]

the open.

[Al_Dente]

FB “will be released on NASDAQ for quotation around 10:45 AM ET and for trading around 11:00 AM ET…”
[Schwab]

[uempel]

DAX H&S Top confirmed broken, text book target 5843, but I prefer fib confluences area which is around 6080. You don't need wait for my every morning update which is not guaranteed for DAX, you can always find DAX info in my public chart list: http://stockcharts.com/public/1684859

I know too obvious to be true some would say which I don't think so because if too obvious to be true can be a reason, then every chart patter is invalid because they all too obvious.

Cobra, dax still in linear channel. Doesn't mean there is no further downside, but this mornings action was quite impressive. Broke back above 6300 after being down at 6230...

[uempel]

Out of curiosity, are any readers here going to buy FB today?

[Richarab]

Out of curiosity, are any readers here going to buy FB today?

oh my the NQ is tanking right now... holy cow

[ronrico]

i guess this blog
doesnt update automatically, right

[victorm]

Out of curiosity, are any readers here going to buy FB today?

I would rather pay attention on solar stocks "The United States imposed punitive 30% tariffs on solar panel imports from China" expect domestic solars going up up up. NXT

[Richarab]

Out of curiosity, are any readers here going to buy FB today?

oh my the NQ is tanking right now... holy cow

no. not going to buy FB.... very curious how it does today...

[stucap]

Out of curiosity, are any readers here going to buy FB today?

oh my the NQ is tanking right now... holy cow

let's see if ES can follow. fade the gap, boys, fade that gap!!