06/04/2012 Live Update

[CarlosDK]

Cobra - what is the signals you got for a potential bottom ? What are the signs you are looking for ? Any indicators or divergences ?

[ken_d17]

I think this should be a 2 legged rebound. we're on the 1st leg.

First leg is complete and we are in flag. Second leg should equal first leg?

[CognitiveDissonance]

Big News today....some on MoveOn.org are calling their Kenyan leader a psychopath as he kills by drones and continues the war he said he would end immediately while breaking his promises and feeding Wall Street. Unless you were living in the dark, it is of no surprise. We little people get to see the market's demise begin and the increasingly less powerful HFTs stuff quotes in the new game of, "Trading For Pennies: Or, I made all the Bids I Could So Please Don't Indict Me". They will attempt to save the pig whose lipstick is smudged and missing....

The collapse is setting itself up nicely in all traded vehicles. Some H&S projections are for new lows. Still, they will give it a try for a kick-save. It will fail as 2008 Redux starts to meld into place. I suggest guns & ammo, canned good, and bottles of Jack as investments. King Ludwig II has been on a bender and it will be one helluva hangover:

I like those asset classes

[Cobra]

not looking bad, but bulls need break above the blue trend line to prove this rebound has legs otherwise it's just a bearish rising wedge.

[Mr. T]

Big News today....some on MoveOn.org are calling their Kenyan leader a psychopath as he kills by drones and continues the war he said he would end immediately while breaking his promises and feeding Wall Street. Unless you were living in the dark, it is of no surprise. We little people get to see the market's demise begin and the increasingly less powerful HFTs stuff quotes in the new game of, "Trading For Pennies: Or, I made all the Bids I Could So Please Don't Indict Me". They will attempt to save the pig whose lipstick is smudged and missing....

The collapse is setting itself up nicely in all traded vehicles. Some H&S projections are for new lows. Still, they will give it a try for a kick-save. It will fail as 2008 Redux starts to meld into place. I suggest guns & ammo, canned good, and bottles of Jack as investments. King Ludwig II has been on a bender and it will be one helluva hangover:

Chaz!!!
Don't fall for the hype of the snow-monkey, schnitzel-face...... we're going up!!!

SPX 1500!!!!

[Cobra]

I think this should be a 2 legged rebound. we're on the 1st leg.

First leg is complete and we are in flag. Second leg should equal first leg?

if equal then there might be the 3rd leg.

[Cobra]

Cobra - what is the signals you got for a potential bottom ? What are the signs you are looking for ? Any indicators or divergences ?

Too many, hard to explain here. When I see bottom pattern, I'd report it in the daily market outlook.

[gappy]

Out silver short for a lousy 150 gain.

[Cobra]

Cobra what do you think about euro 30min ? what pattern do you see ? if bullish that might help markets up ?

EURO is just a rebound, there'll be another leg down at least.

[MrMiyagi]

Your message contains too few characters.

[TraderGirl]

XIV looks like it's saying that if we can break out here, then we have found a bottom for now... if it cannot break out then wave 5 could come soon....

[CarlosDK]

Cobra - what would be best today for bulls ,, if closing high into close of close near lows ? (Sometimes I saw you say its good when it closes near lows)

[Cobra]

Cobra - what would be best today for bulls ,, if closing high into close of close near lows ? (Sometimes I saw you say its good when it closes near lows)

again, depends on the chart pattern.

TA is an art. you cannot apply a fixed rule on it.

After many years trading and reading thousands of chart, you'll have the feeling.

[Claire]

Cobra: are we still in the first leg up or is this the 2nd one? thanks

[nicha]

Cobra - I have been struggling with learning charting for some time. Is there a course (online or classes) that will teach me charting?

[Cobra]

very good. go on...

[BullBear52x]

UNG update:

Another try, break up or buy the next intradip dip.

[Cobra]

mini target, wild-est-est-est guess.

[L_T]

L_T, pragcap is into MMR not MMT.

Huh?

[Cobra]

Cobra - I have been struggling with learning charting for some time. Is there a course (online or classes) that will teach me charting?

I don't know.