03/07/2017 Live Update

[Trades with cats]

The beauty of today's tech unicorns is that the right out of school new hires were still in diapers during the last run up and senior management (35 year olds) were in high school. The venture capital guys are frequently the same way. They do not understand that "winter is coming". They seem to have egos the size of California. Look at Marissa Mayer at Yahoo who was just named one of the most overpaid CEOs in the country as she lies and covers up thinking Verizon will never figure it out. Look at Uber and Thanos thinking they can fool everyone all the time.

On down the road Michael Lewis will write a book, they will make a move out of it that my kids will watch and all of a sudden Dad's IQ will grow 10 points.

[Al_Dente]

NY declining stocks = 1.9 x advancing stocks
NY declining volume = 2.0 x advancing volume
Bear bias ...........

NY declining stocks = 2.0 x advancing stocks
NY declining volume = 2.8 x advancing volume

[Al_Dente]

ON THE DAILY, this is the first day the TICK went red since Jan
It dipped in and out of red yesterday… let’s see how it closes today

[Cobra]

if the pullback can actually test the day low then a breakdown is more likely this time. let's see. glad I didn't trade today, otherwise it'd be a few losing trades already. hard to trade range day as I don't like to guess.

[Trades with cats]

Time for a double bottom test in small caps with a fairly quick drop. Already at yesterday's low.

[Cobra]

it also could be triangle which unfortunate is directionless.

[fehro]

Indexes red, VIx red, oil red, gold red, TLT red, VXX nLOD…

[Al_Dente]

Gold miners are down another 1% today
This is day seven below the lower daily bolinger
Isn’t that just about enough already?

[Al_Dente]

That’s what they do
They wear you down until you can’t even locate your own navel
And you close out a perfectly good psycho short when it’s knock knock knocking on heaven’s door
Just so you can pocket a few cents
Then you realize, once again, that you have to keep working on your faulking discipline
Can’t really complain, I have lunch money in my pocket, and free pasta for everyone on board

[Trades with cats]

CL Not surprised to hear that oil is down today. Earlier this week the small subscription service said build in Cushing. Tonight the much maligned API report then of course tomorrow the EIA. News flow has been dismal. Multi year high of empty tankers piled up in the Arabian Gulf hoping for a cargo is the only good news for bulls. Clipper Data says West African loadings are up and their light grades are headed to Asia. Reuters says some WTI from shale is also headed for asia so in response Saudi has dropped the April price on their light grade to win back market share. Chinese independent coastal refiners (not supposed to call them teapots anymore) run on light oil and if they are operating flat out then Sinopac will be flooding export markets with their production again. So a repeat of New York Harbour running out of gasoline storage could be on the way.

Broken record time. The easy part is over for OPEC. If we don't start seeing some big declines in US inventory numbers over the next couple of weeks the Hedge Funds could panic. Just in time for a bad earnings season and Fed rate hikes. We will see how those highly leveraged 28 year old Ivy League history majors deal with it if it happens. My guess is the I bank margin clerks will be getting overtime.

[ALdaytrade]

Gold miners are down another 1% today
This is day seven below the lower daily bolinger
Isn’t that just about enough already?

Gold is always down in March. It is usually not ready to be traded until early July.

[Cobra]

end of triangle.

[Al_Dente]

HAPPY HOUR

[Cobra]

HAPPY HOUR

[Trades with cats]

I minute Cash Market ES with VWAP

I see three failed touches of 1 standard deviation up from VWAP so far. Three or four points doesn't seem like too much of a hurdle for the mighty 3:30 Ramp Express but it may be a real reach today. If we get an unusual red close on a tuesday will the retail investors even notice?

[Trades with cats]

Ahh! headed for yesterdays low and it's already 3:35, FIRE THAT CONDUCTOR.

[Cobra]

now breakdown is likely, just too late to be predictable as close is near.

[Trades with cats]

So far this closing move is going to make it easy for Cobra to find something new to write about
It is also going to test my discipline for the second day in a row to not hold overnight. So much for the millions in retail money flooding into ETFs. (that was sarcasm).

[Junior Buffett]

ES 2364 is good support..may be...

[Cobra]

members only update at 3:53 pm
http://www.cobrasmarketview.com/2017/03 ... ay-update/