06/07/2012 Live Update

[Al_Dente]

Okee doke. I'll keep blathering...

REGARDING: Mr. Bachnut’s electrons:
When Carlos Santana decided to do a “comeback” album [with Matchbox Rob Thomas et al],
his mgr Clive Davis asked him what he wanted to accomplish with the new album.
Santana (the creative) answered “I want to reconnect all the electrons in the universe.”
Davis (the money man) replied “…. Okay then….”

http://www.youtube.com/watch?v=MXp413NynFk

[TraderGirl]

Posted this chart the other day with the possibility that UNG was possibly in a 4th wave up, to then get a 5th wave down...looks like it could be completing soon, but since it's an impulse down, then it looks like it could go lower after a possible rebound...??

[uempel]

DMA 20 now at 1316.36, a close below would be bearish and suggests that this rally was nothing else than a good-bye kiss. But I have a bullish bias...

[DRL]

OK. FYI. Very little of what I post deals with intra-day.
Let me know if I am wasting electrons, and I will gladly spare you from my posting.
I try to work multi-week trades with horizons somewhere between Cobra Impulse and Cobra Non-stop.
Market Neutral.
I have a signal to long today based on the rate of change in the McClellan Summation Index, which should be executed at the close.
However, it looks likely to be delayed by (unbelievably) an overbought oscillator, which is fine as price has run away.
The setup is anticipatory as the new trend (days to weeks trend not minutes to hours) is not confirmed. (Solid trend signals still a ways off.)
This signal has higher chances of being early or even failing and is sized accordingly (1/3 position once on).
Bottom line - I don't know if I'll end up long today, but I'll probably be a dip buyer to cobble some kind of long position in the coming days.

Bachnutty I LOVE all yr posts
Keep ‘em coming
Thx
I’m distracted by Ben now
Q: I wish u would look the market in the eye and say the FED [monetary policy] has done all it can…. and it’s now up to fiscal to do their job
Ben: blabla…[yes]… blabla

I also am a swing trader, prefering to hold weeks, not days or hours. So appreciate everyone's opinion and posts. But it is escpecially important to be a paid member of Cobra's services. This day forum helps me to get entry points for longer term trades (when I am not playing golf or other fun things). Thanks much.

BTW, to the Irishman who loves pasta, I use some of your charts every night to gauge what is happening. And of course BB52, Uempel, Kena, etc. are very helpful as well. So thanks to all.

[Al_Dente]

Liquidity took a good up tick yesterday but is still in the lower Quad.Let me know if you want the chart.

YES ALWAYS WANT YR CHART

[louie]

Okee doke. I'll keep blathering...

REGARDING: Mr. Bachnut’s electrons:
When Carlos Santana decided to do a “comeback” album [with Matchbox Rob Thomas et al],
his mgr Clive Davis asked him what he wanted to accomplish with the new album.
Santana (the creative) answered “I want to reconnect all the electrons in the universe.”
Davis (the money man) replied “…. Okay then….”

http://www.youtube.com/watch?v=MXp413NynFk

And what an excellent job he did! Same for Mr Bachnut

[lcgllc]

you don't want to see consolidation here. a strong rebound is needed.

with all due respect, you dont make bears feel very welcome...last time i checked this was a rebound not a trend change

[Claire]

Cobra -- does this small push up qualify as a potential 3rd leg down? IOW is the 2nd leg over? I appreciate your patience in answering my questions. I've been learning a lot from you.

[ClarkW]

I told myself not to monitor the shorter term charts of GDX/DUST because my goal is to hold DUST for the days-2 weeks. But I'm thinking about locking in some gains in DUST today if this move continues. Likely to sell DUST if GDX gets a little closer to the lower trendline in chart below

[OverUnder]

I think that's a misinterpretation. Cobra is both bullish and bearish depending on his analysis. When he says a strong rebound is needed, I believe he means it would be needed to continue the week's uptrend, not that it's something we absolutely must have. There's a language bias that tends to sound like "bull is good and bear is bad", but all are surely welcome.

you don't want to see consolidation here. a strong rebound is needed.

with all due respect, you dont make bears feel very welcome...last time i checked this was a rebound not a trend change

[Petsamo]

In case anyone wants to know, the bank that deals with SID (an ADR) did not charge me a fee when I sold. Cool

[elDiablo]

Cobra,

Could you share your thoughts on QIHU by any chance?
Thanks in advance and very much appreciate your continued time and dedication.

[Al_Dente]

I told myself not to monitor the shorter term charts of GDX/DUST because my goal is to hold DUST for the days-2 weeks. But I'm thinking about locking in some gains in DUST today if this move continues. Likely to sell DUST if GDX gets a little closer to the lower trendline in chart below

raise your stop BY A LOT
u lucky sob
don't let them steal it away from u
[ALL total kool-aid, above]
GL

[TraderGirl]

Just by looking at the last corrections on NUGT, they pulled back to the 61-78% fib levels, of course not in a straight line down. Although, hitting support here, next level of support around 10.25 if it falls through...

[Mr. T]

BTFD or not???

[ClarkW]

I told myself not to monitor the shorter term charts of GDX/DUST because my goal is to hold DUST for the days-2 weeks. But I'm thinking about locking in some gains in DUST today if this move continues. Likely to sell DUST if GDX gets a little closer to the lower trendline in chart below

raise your stop BY A LOT
u lucky sob
don't let them steal it away from u
[ALL total kool-aid, above]
GL

Stops have definitely been raised! Thanks Al Dente! And I definitely know there was PLENTY of luck in this one but I'll take it nonetheless.

[KENA]

DMA 20 now at 1316.36, a close below would be bearish and suggests that this rally was nothing else than a good-bye kiss. But I have a bullish bias...

3.png

I don't know but I think this" up " is a Big Ben Hype..My 2 charts are about to cross if they do then mkt could be up for a few days..Need another day to see.

[Petsamo]

BTFD or not???

Flip a coin

[lcgllc]

I think that's a misinterpretation. Cobra is both bullish and bearish depending on his analysis. When he says a strong rebound is needed, I believe he means it would be needed to continue the week's uptrend, not that it's something we absolutely must have. There's a language bias that tends to sound like "bull is good and bear is bad", but all are surely welcome.

you don't want to see consolidation here. a strong rebound is needed.

with all due respect, you dont make bears feel very welcome...last time i checked this was a rebound not a trend change

that is a very fair defense, and i am not discounting the language issue...my coment was largely rhetorical, but i dont think i misread cobras sentiment on a day where 5mins and 60mins are bearish

[ClarkW]

I told myself not to monitor the shorter term charts of GDX/DUST because my goal is to hold DUST for the days-2 weeks. But I'm thinking about locking in some gains in DUST today if this move continues. Likely to sell DUST if GDX gets a little closer to the lower trendline in chart below

raise your stop BY A LOT
u lucky sob
don't let them steal it away from u
[ALL total kool-aid, above]
GL

Stops have definitely been raised! Thanks Al Dente! And I definitely know there was PLENTY of luck in this one but I'll take it nonetheless.

Just sold out of 3/4 of my position in DUST. And likely to be fully out in minutes. Thanks for the advise Al Dente!