10/17/2012 Live Update

[Cobra]

revisit the morning high, key time. wait.

[daytradingES]

vol by price

[KeiZai]

Anything should happen till end of month but looks like now it´s official go signal (means more up ahead in MT)

(monthly scale)

If dollar breaks RSI line then bigger correction theory in dollar is definitely dead and I am buyer of silver again (I am not giving big chances to dollar in holding this line)

[Al_Dente]

clarkw
r u inside that nugt sqz?
don't get greedy
it's an elevator up
and it will exhaust
this is sqz bar #7 on the 5min
beware of any sticks that CLOSE red

I'm not in and not chasing here. I have a little in DUST so not feeling great about it now but staying pat.
Below are some longer term charts I've provided plenty so... I'm in DUST based on daily. Feel like she's currently making lower high again
The red box on the 30 min is simply to 61.8-78.6% area for the larger move (cyan or light blue)
Old friend of the forum, wish he was here more. SpringheelJack http://www.screencast.com/users/springh ... 74afbc5ecf

thanks
Nugt turned down at double top (10/11) resistance
For the moment
5 min only

[SB73]

EWP has been white hot. Cobra, does the fact that the S&P has raced right back to resistance give it better or worse odds of breaking out to the upside.

[Petsamo]

sold MCP for 1.4% gain

[TraderGirl]

TraderGirl,
I hate asking you to work on your birthday but if you get time, would you tell me what your charts say about NUGT out 20-30 days???
The put options are 3 to 1..
Thanks,
Joe

Clark seems to have a better handle on NUGT and metals than I do...but what I can tell you is that I can see a descending triangle and 5 waves up in NUGT...so looks like it could get a pullback, but 5 waves up usually means another try to the upside, as before (a breakout of this descending triangle would be bullish of course)

I am expecting sentiment to change after the 22/23rd...so we will see if that will bring another pullback in the markets...

[Petsamo]

EWP has been white hot. Cobra, does the fact that the S&P has raced right back to resistance give it better or worse odds of breaking out to the upside.

If you're talking about Elliot Wave, tradeyourwayout.com specializes in Elliot Wave. He's been wrong every step of the way since early 2011.

[ClarkW]

TraderGirl,
I hate asking you to work on your birthday but if you get time, would you tell me what your charts say about NUGT out 20-30 days???
The put options are 3 to 1..
Thanks,
Joe

Clark seems to have a better handle on NUGT and metals than I do...but what I can tell you is that I can see a descending triangle and 5 waves up in NUGT...so looks like it could get a pullback, but 5 waves up usually means another try to the upside, as before (a breakout of this descending triangle would be bullish of course)

I am expecting sentiment to change after the 22/23rd...so we will see if that will bring another pullback in the markets...

Ha! I don't know nearly as much as you TG on trading. I've just gravitated to GDX over the past 6 months or so for some reason. DUST and NUGT are quick movers...they are like crack. I trust your work more than mine, and not blowing smoke. You do a great job. And Happy Birthday btw!

[ClarkW]

BTW Kena. I got on the YELP bandwagon Kena about an hour or so ago. It looks ready for a nice move. Thanks for sharing

[Cobra]

members only update at 12:15pm: http://www.cobrasmarketview.com/2012/10 ... ay-update/

[Al_Dente]

crack whorr NUGT busted out up HOD
dang

[Cobra]

another C&H target. not sure.

[uempel]

This chart is quite a blabber, if you look at the pattern you'll notice a systematic basis

[SB73]

EWP has been white hot. Cobra, does the fact that the S&P has raced right back to resistance give it better or worse odds of breaking out to the upside.

If you're talking about Elliot Wave, tradeyourwayout.com specializes in Elliot Wave. He's been wrong every step of the way since early 2011.

EWP meaning Spain not Elliot Wave Principles. I don't subscribe to Elliot Wave Principles, but I have been holding EWP for several days now.

[Petsamo]

Anyone know ORLY ?

[Petsamo]

EWP has been white hot. Cobra, does the fact that the S&P has raced right back to resistance give it better or worse odds of breaking out to the upside.

If you're talking about Elliot Wave, tradeyourwayout.com specializes in Elliot Wave. He's been wrong every step of the way since early 2011.

EWP meaning Spain not Elliot Wave Principles. I don't subscribe to Elliot Wave Principles, but I have been holding EWP for several days now.

I sold way too early. I never picked it back up

[TraderGirl]

TraderGirl,
I hate asking you to work on your birthday but if you get time, would you tell me what your charts say about NUGT out 20-30 days???
The put options are 3 to 1..
Thanks,
Joe

Clark seems to have a better handle on NUGT and metals than I do...but what I can tell you is that I can see a descending triangle and 5 waves up in NUGT...so looks like it could get a pullback, but 5 waves up usually means another try to the upside, as before (a breakout of this descending triangle would be bullish of course)

I am expecting sentiment to change after the 22/23rd...so we will see if that will bring another pullback in the markets...

Ha! I don't know nearly as much as you TG on trading. I've just gravitated to GDX over the past 6 months or so for some reason. DUST and NUGT are quick movers...they are like crack. I trust your work more than mine, and not blowing smoke. You do a great job. And Happy Birthday btw!

Thanks Clark! I think it will be interesting what the dollar does here...looks like it could be a bear flag...but the dollar is also very oversold and depending on what happens here, we could end up seeing some pos d...?? We'll see....

Commercials (smart money) seems to be net long the dollar, while dumb money is net short..??

[Al_Dente]

relative strength

[SB73]

EWP has been white hot. Cobra, does the fact that the S&P has raced right back to resistance give it better or worse odds of breaking out to the upside.

If you're talking about Elliot Wave, tradeyourwayout.com specializes in Elliot Wave. He's been wrong every step of the way since early 2011.

EWP meaning Spain not Elliot Wave Principles. I don't subscribe to Elliot Wave Principles, but I have been holding EWP for several days now.

I sold way too early. I never picked it back up

Europe outperforming SPY