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u think cobra can eat those cute mice? u eviluempel wrote:Cobra, I know what kind of food lifts your spirits, I suggest you eat some mice
Take care, Cobra. Health is more important than other thing!Cobra wrote:First of all I'm sick today, actually since yesterday, so I may not post a lot comment today, but the daily report will be there no matter what. Thanks.
Flat open, so any gap will be filled. AS OF NOW, global ES does not look good, if the overnight rebound fails here and breakdown the support below, because it can be seen as a failed test of the previous high therefore imply a trend change (so called 1-2-3 trend change), so the blue line below is the key to watch.
The gold sell off was in response to the FED and "operation twist" -- which is not a QE tool. QE tend to lower the value of the dollar. As the dollar is debased the value of gold rises. No QE, traders take profits and buy dollars.soku wrote:Last Friday before close, I raised the question: "where the money go?"
something fishy. gold and silver crashed, but where the money go? not in bond not in equity. i want to follow the smart money, but i first need to find them.
a conspiracy interpretation, they r waiting for the meetings this weekend. with the money escaped from metal market, i will say it could easily push spx up for 100-120 points
to like 1240-1260. of course the measurement will be similar if heading down.
Now is time to look back. With the extreme bearish sentiment in the market, where the bulls have become bears,where my favorite trader since yesterday is calling the collapse of the World with GS ruling, the set up for a huge squeeze is here. as I expected, the move up this morning was brutal, and killed many of the new “smart” shorts.
Technically since SPX hit 1195 level, which is just inch shy to my minimum target of 1198-1200 , the rebound can be considered satisfied. I think the brutal part is gone. It may move up a little bit or just correct at current level. It will be a small possibility case that SPX to challenge 1240-1260 maximum target.
I also think you have to take into account that the precious metals sell-off was at least in part due to the anticipated margin hike which was announced post close last week. I know at least a few desks on the street which considered it, as mongoose said, a confluence event to take profits, and watch as retailers got crushed in the anticipated margin hike.Mongoose wrote:The gold sell off was in response to the FED and "operation twist" -- which is not a QE tool. QE tend to lower the value of the dollar. As the dollar is debased the value of gold rises. No QE, traders take profits and buy dollars.soku wrote:Last Friday before close, I raised the question: "where the money go?"
something fishy. gold and silver crashed, but where the money go? not in bond not in equity. i want to follow the smart money, but i first need to find them.
a conspiracy interpretation, they r waiting for the meetings this weekend. with the money escaped from metal market, i will say it could easily push spx up for 100-120 points
to like 1240-1260. of course the measurement will be similar if heading down.
Now is time to look back. With the extreme bearish sentiment in the market, where the bulls have become bears,where my favorite trader since yesterday is calling the collapse of the World with GS ruling, the set up for a huge squeeze is here. as I expected, the move up this morning was brutal, and killed many of the new “smart” shorts.
Technically since SPX hit 1195 level, which is just inch shy to my minimum target of 1198-1200 , the rebound can be considered satisfied. I think the brutal part is gone. It may move up a little bit or just correct at current level. It will be a small possibility case that SPX to challenge 1240-1260 maximum target.
Very good point, too.jarbo456 wrote:I also think you have to take into account that the precious metals sell-off was at least in part due to the anticipated margin hike which was announced post close last week. I know at least a few desks on the street which considered it, as mongoose said, a confluence event to take profits, and watch as retailers got crushed in the anticipated margin hike.Mongoose wrote:The gold sell off was in response to the FED and "operation twist" -- which is not a QE tool. QE tend to lower the value of the dollar. As the dollar is debased the value of gold rises. No QE, traders take profits and buy dollars.soku wrote:Last Friday before close, I raised the question: "where the money go?"
something fishy. gold and silver crashed, but where the money go? not in bond not in equity. i want to follow the smart money, but i first need to find them.
a conspiracy interpretation, they r waiting for the meetings this weekend. with the money escaped from metal market, i will say it could easily push spx up for 100-120 points
to like 1240-1260. of course the measurement will be similar if heading down.
Now is time to look back. With the extreme bearish sentiment in the market, where the bulls have become bears,where my favorite trader since yesterday is calling the collapse of the World with GS ruling, the set up for a huge squeeze is here. as I expected, the move up this morning was brutal, and killed many of the new “smart” shorts.
Technically since SPX hit 1195 level, which is just inch shy to my minimum target of 1198-1200 , the rebound can be considered satisfied. I think the brutal part is gone. It may move up a little bit or just correct at current level. It will be a small possibility case that SPX to challenge 1240-1260 maximum target.