01/29/2021 Live Update

[Trades w 2 Cats]

GME Saga

1. You know Goldman publishes a list of what stocks all the hedged funds are long and short, I mean they are supposed to be hedged right? So they got lazy and over shorted a hand full of favorites. Somebody did a bit of research and published the extent of the over short.

2. RobinHood founders lied through their teeth yesterday on TV just like every finance CEO when faced with a bank run. Apparently (Zero Hedge today) the issue was insufficient funds (customer cash can not be used) to complie with Dodd Frank clearing rules. They have borrowed an additional 1.6 Billion thus being able to handle the deposit requirements of the clearing house.

3. Good to see members of Congress demanding to know how compliance with their laws was carried out.

4. Remember when the funds dismantled the London whale. Sure we could put a long list together of traders who got too large in a bad position and the school of piranhas feasted. Only this time the piranhas are retail providing insight into who the SEC and CNBC work for removing the scales from the eyes of the next generation of traders.

[Al_Dente]

Recall yesterday the GME 320 calls had the biggest open interest. Yesterday OI approximately 9,000 contracts at the 320 strike, today OI approx 7,000 contracts, so some have been closed out, hopefully at or near the open.
These expire today.
Perhaps more will exit before the close, so they don’t have to risk another trading halt, or other shennagians at the close.
[numbers are from Schwab quotes]

[Cobra]

Testing day low, now let's see whether bulls can make a double bottom here.

[BullBear52x]

It will retest 3700 low, Hourly and daily are all pointing that way now. ES

[BullBear52x]

Daily buy dip will fail if yesterday's low were taken out. Cash SPX, tells tale of what to come in next few weeks.

[Cobra]

Measured move down?

[BullBear52x]

so far, no bottom sign yet.

[BullBear52x]

ES, testing overnight low, yesterday's overnight low of 3705ish is what i am sighting.

[BullBear52x]

From the look at market/Volume profile, next down V-POC is 3601 (crazy I know) also poor high on yesterday. the poor high will revisit in theory but it could take times, for market to move lower I'd like to see more poor low along the way down, today we have poor low, so far, looking good for bears.

[Trades w 2 Cats]

BullBear must have direct line to the algo's

[BullBear52x]

BullBear must have direct line to the algo's

You got me into Volume profile, now I kind of see things a little different.

[Al_Dente]

So, historically it takes months and years to identify who is behind any particular drop.
But it takes just a day or two to identify who is behind GME and the infamous Reddit site “DeepF***ingValue”
https://www.reuters.com/article/us-reta ... SKBN29Y0AF

[Cobra]

Members only update at 12:30 pm
http://www.cobrasmarketview.com/2021/01 ... ay-update/

[BullBear52x]

3705 ding ding ding

[BullBear52x]

Greed kills,overnight holding lot have been initiated.

[Al_Dente]

the short side
SHORTS 5m
bears need more selling volume (red arrow)

[Cobra]

Members only update at 12:48 pm
http://www.cobrasmarketview.com/2021/01 ... ay-update/

[Cobra]

Almost 100% measured move now so probably there'll be another leg down. I see volume surge, good signal bar so maybe a rebound or consolidation here first then we'll see.

[BullBear52x]

A look at BPSPX, negative D, SPX 3650 is fair target.

[BullBear52x]

A red January foretell the year end?