05/21/2012 Live Update

[MrMiyagi]

POWER HOUR kiddies!

[Cobra]

Cobra - could you please take a look at silver (SLV) and tell me what you think short term. Thanks

not sure if more rebound (may or may not) but chances are the selling isn't over yet.

[Cobra]

overshot, so might be a pullback here, then we'll see. should be another high attempt at least.

[rpccharts]

the 3rd try, so now the bias is up. it took very long time for me to load the stockcharts chart so it appears very late now...

Need to see some selling in the bonds... retail is hiding in there as they are afraid of crashes.... Also folks expecting QE3 to pop 30 yr bonds to 1'60.

I think the next intervention may take a different route by raising cash from selling off the fed balance sheet.

[rpccharts]

LONG TBT FXI SNE fwiw

[Petsamo]

Thanks Cobra and all, GLTA

TA note: So far buyable bottom with tight stops, there is more positive signs, but right now intraday is a little extended. I am selling TNA still, will buy the dip tomarooo if it manages to move higher.

That's a nice looking H&S

[Richarab]

1314.21 150MA crushed on SPX - if it holds next 7 minutes. then enchiladas

[rpccharts]

[Mr. T]

Excellent chart = thank you.

[rpccharts]

BUST a NUGT 3x GDX Miners on a roll

[Cobra]

channel top. bulls are strong today, should be more.

[Richarab]

with euro having a nice open, then usa crushing it, asia is going to rally, then euro will continue, and by morning USA guarantee big gap up....

[Cobra]

a little trend line here. info only, doesn't imply anything.

[rpccharts]

SOCIAL MEDIA 101 - WTF?

]

[lcgllc]

Turnaround Tuesday will not dissapoint, would love gap up, will be the easiest short money made...no way low is in

[trader_jay]

good piece on ZH on why the markets are rally today

http://www.zerohedge.com/news/why-we-are-rallying-today

[Unique]

aapl testing resistance, key time, I don't think it'd be a problem though. http://stockcharts.com/public/1684859/c ... /231686385

560 target, weekly OTMs at + 250%, Monthlies Otms at +50%...

Reversed too quick, tomorrow gonna be consolidation again...and today probably later sell off re-test mid line of today

560 Target reached. Shorted now.

[Petsamo]

good piece on ZH on why the markets are rally today

http://www.zerohedge.com/news/why-we-are-rallying-today

That's a viewpoint of one Monday morning quarterback. We don't have a shortage of those.

[trader_jay]

hi, cobra,

does the overnight low 1287.25 qualified as a lower low as mentioned in your report ? or are you looking for a lower low a few days or mabybe a few weeks later ?

thanks very much

[rpccharts]

MUX - Keep this miner on radar for next gold miner boom...

http://www.mcewenmining.com/


A high growth, low cost mid-tier gold producer in the Americas. Rob McEwen, Chairman & CEO, owns 25% of the outstanding shares. The Company's driving ambition is to qualify for the inclusion in the S&P 500 by 2015.

In 1990 McEwen stepped into the mining industry, where he transformed Goldcorp from a collection of small companies into a mining powerhouse. Since 1993, when McEwen started re-structuring Goldcorp, its market capitalization has grown from $50 million USD to over $10 billion and Goldcorp's share price has increased at a 31% compound annual growth rate.