09/25/2012 Live Update

[happychen]

cobra, you said this last night, still valid? buy now?
No more down tomorrow, the SPX continue going higher, then eventually it’d fall again, most likely SPX would close below today’s close soon or later.
Keep going down tomorrow especially if SPX closes in red again, then most likely it’s a buy opportunity.

[licai5688]

Cobra, I think the market will gap up tomorrow. How do you think the possibility?

Thanks.

[noob]

key time, if bulls can hold here, then we might see a rebound finally.

Seems like bears just starting.

[TraderGirl]

Check out this stock GCA - gambling cash machine company....

timed two tops in the market of some kind...I don't think we are there yet, I think we rally again into beginning of Oct maybe lower high...then down into Oct/beginning of Nov, but then we could top out sometime in January 2013...???

Anyways, probably a good short....

[Cobra]

well, guess that's it for today. NORMALLY this bear has legs. Thank you guys, I'll see you tomorrow. Before the close, please take a little time to vote for me, thanks. http://stockcharts.com/public/1684859/tenpp

[Petsamo]

Cobra, I think the market will gap up tomorrow. How do you think the possibility?

Thanks.

Best chance for a gap up is if we finish at the lows

[Cobra]

Cobra, I think the market will gap up tomorrow. How do you think the possibility?

Thanks.

why?

[KeiZai]

LONG HEAVILY

THANKS ALL

[ClarkW]

GDX broke below the channel on 30 min. Also Bearish Harmonic pattern looks to be working so far on daily. Long DUST still GDX looks a little oversold in the short-term. Maybe gap up tomorrow?

NOT A RECOMMENDATION

[lazytrader]

Cobra,

Isn't this a bearish engulfing candle. Thanks

[TraderGirl]

Very bearish price action....

[Petsamo]

There were very large last transactions, both buy & sell

[licai5688]

Cobra, I think the market will gap up tomorrow. How do you think the possibility?

Thanks.

why?

In your market outlook last night, you said that if this happens, it could be a buy opportunity.

I just guess the market might gap up, possibility is more than 50% for me.

[daytradingES]

From last week (but it was after hours and some said that didn't count)

[MrMiyagi]

[daytradingES]

New phantom

[KeiZai]

Thanks this one is close too

[KeiZai]

lol call me crazy but I made it to the minute


Structure in russell looks done to me

part #1

blue 1 is tricky as wave 4 went to 1-2 area, but who cares about blue count (hint: important is red one)

part #2

3 = +-5

[TraderJoe]

****GOLD***
Copied from "The Business Insider" --http://www.businessinsider.com/bofa-mak ... old-2012-9

Everyone loves gold these days. Deutsche Bank sees $2000 gold soon. And Citi says it could go to $2500 in six months.

BofA, too: the firm recently initiated a $2,400 target price for the shiny yellow metal since the Fed's announcement of open-ended bond buying.

However, BofA analyst Stephen Suttmeier thinks there's a case to be made that gold goes even higher than the bank's official call.

In a note to clients today, Suttmeier writes:

The secular bull case for Gold $3000

We remain secular bulls on gold. Key chart and uptrend supports between $1600 and $1400 have held and we have viewed $1550-1500 as a good area to buy gold. The breakout above the year-long downtrend line completes the correction within the longer-term uptrend and targets resistances at $1800 and $1925. But, the secular bull market for gold points to a stronger rally to $2050-2300 and up to $3000 longer-term. The top of the rising channel from mid 2005 is near $2375 and reaches the $3000 area by early 2014. Key channel supports are in the $1600 and $1400 areas and rise ~$25/month. The chart below shows the secular bull market for gold.

Here is the chart Suttmeier is looking at:


Gold futures – monthly semi-log chart

BofA Merrill Lynch