12/08/2017 Live Update

[Cobra]

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the rebound may have legs.

[Cobra]

members only update starts here: http://www.cobrasmarketview.com/2017/12 ... ay-update/

[fehro]

fwiw… diamonds for the holidays?

[Cobra]

members only update at 10:05 am
http://www.cobrasmarketview.com/2017/12 ... ay-update/

[te_fern]

Blew thru the triangle on the open this morning, will it try to close the gap??

[Cobra]

this bull shall have legs.

[Al_Dente]

FWIW
Shorting bitcoin via short GBTC
"New shorts are being charged 18.5% because the overall float is relatively small."
One analyst “expects short interest and borrowing costs in GBTC to rise to as high as 50% on an annual basis, once new bitcoin futures and ETFs enter the market, expanding available options for investors to have exposure in the digital currency and suppress the existing premium for the GBTC…."While the futures contract will allow easier and safer bitcoin short selling, it will also allow for easier and safer bitcoin long buying. Long GBTC holders may feel the pain of its 59% asset premium shrinking, while short sellers will probably be incurring a 50%-plus stock borrow fee--both sides will be paying a premium in order to ride the bitcoin roller coaster once the Cboe futures start trading…
https://eresearch.fidelity.com/eresearc ... S_SVC&sb=1

[fehro]

headlines.. looked all rosy for China this morning? XLY0- Shanghai $SSEC W/D .. <20w/50w/20d nears 50d and 2yr uptrend .. china going to break first?

[Trades with cats]

2 bar renko with VWAP with Std Dev Bands

Tuesday afternoon
I'm just beginning to see
Now I'm on my way
It doesn't matter to me
Chasing the clouds away

[fehro]

FWIW
Shorting bitcoin via short GBTC
"New shorts are being charged 18.5% because the overall float is relatively small."
One analyst “expects short interest and borrowing costs in GBTC to rise to as high as 50% on an annual basis, once new bitcoin futures and ETFs enter the market, expanding available options for investors to have exposure in the digital currency and suppress the existing premium for the GBTC…."While the futures contract will allow easier and safer bitcoin short selling, it will also allow for easier and safer bitcoin long buying. Long GBTC holders may feel the pain of its 59% asset premium shrinking, while short sellers will probably be incurring a 50%-plus stock borrow fee--both sides will be paying a premium in order to ride the bitcoin roller coaster once the Cboe futures start trading…
https://eresearch.fidelity.com/eresearc ... S_SVC&sb=1

The cryptocurrency’s eye-popping rally would have triggered so-called circuit breakers on seven of the past 10 days, pausing or even halting trading to ensure an orderly session, based on rules planned by exchanges.



https://www.bloomberg.com//news/articles/2017-12-07/stunning-bitcoin-rallies-portend-stop-and-start-futures-sessions

[Trades with cats]

As of Monday a 1 bitcoin future contract will cost you $4,500 in collateral. A week later the 5 coin contract opens at around $20,000 collateral. AS soon as the brokers establish day trader margin it could explode. ES collateral is around $5,300 but day trading collateral is around $500.

[Trades with cats]

Futures day trading means only owning during the old open outcry or pit New York hours of 9:30 to 4:00.

[Trades with cats]

headlines.. looked all rosy for China this morning? XLY0- Shanghai $SSEC W/D .. <20w/50w/20d nears 50d and 2yr uptrend .. china going to break first?

Anyone who isn't focused on how China has the high probability of being the straw that breaks the world economy isn't paying attention. Now is the time (according to experts) for them to purge the excesses before hitting the gas pedal in time for the next Party Congress. A two year pull back supposedly would be a longer term positive for them.

[Cobra]

the pullback should be bought.

[Trades with cats]

London/Frankfurt closing in the middle of my 1000 tick jobs report bar. Also at volume point of control and VWAP. Perhaps a boring day as traders leave early so they won't have to go out on Guy Shopping Day (Christmas Eve).

[Junior Buffett]

As of Monday a 1 bitcoin future contract will cost you $4,500 in collateral. A week later the 5 coin contract opens at around $20,000 collateral. AS soon as the brokers establish day trader margin it could explode. ES collateral is around $5,300 but day trading collateral is around $500.

Does that mean Bitcoin will drop to $4500? how it will impact Bitcoin price?

[Trades with cats]

No, they won't drop. The futures contract is settled in US dollars, so it is a contract for the difference in price over time. Just like the ES is to the S&P 500. So you do not 'own' any coins, it is a derivative contract for the difference in price between two points of time. As opposed to stuff like corn where you can actually take delivery.

The initial margin requirement is to cover price swings. If it goes against you you will have to add collateral or they will close you out.

So for people who want to use bitcoins to buy stuff this is pointless. To traders and speculators it brings the ability to speculate on coin price changes to a very familiar high volume low cost format.

[Cobra]

members only update at 12:12 pm
http://www.cobrasmarketview.com/2017/12 ... ay-update/

[Al_Dente]

A review of the classic “Trading Rules” updated to include bitcoin:
http://www.zerohedge.com/news/2017-12-0 ... g-anything

[Al_Dente]

SPY hod
confirmed by
VIX lod