06/15/2012 Live Update

Post by **Cobra** » Fri Jun 15, 2012 8:57 am

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Small gap up (don't look at SPY, it has dividend today, so will open lower) around yesterday's high so not sure if the gap will be filled or not.

I won't say Global ES looks good because it takes too long for this 3 leg up to reach the 2nd leg high which looks a lot like just a retest of the previous high before rollover. So the Global ES actually looks worse than the regular trading hour chart.

EFA · Post by **EFA** » Fri Jun 15, 2012 9:24 am

Good Morning, Cobra!
Nobody around this morning? Everybody went to church to pray for the Greeks and/or ourselves?

Richarab · Post by **Richarab** » Fri Jun 15, 2012 9:27 am

EFA wrote:Good Morning, Cobra!
Nobody around this morning? Everybody went to church to pray for the Greeks and/or ourselves?

at the mosque

KENA · Post by **KENA** » Fri Jun 15, 2012 9:36 am

Heavy res right here.

Post by **Cobra** » Fri Jun 15, 2012 9:36 am

the open.

TraderJoe · Post by **TraderJoe** » Fri Jun 15, 2012 9:37 am

GM to all...
I would appreciate your input on this when you have time.

From what I have heard and read, most people are expecting a big up market Monday (most believe Greece won’t opt to leave the Euro) yet many brokerage firms were advising their clients to get out of the market.

Central banks are reportedly preparing for coordinated action to provide liquidity if needed (another plus).

I was reviewing the SPY and NUGT options this morning and I was surprised to find that on SPY there were almost 2X more puts traded as calls and on NUGT, there were 4-6X more puts traded as calls. The options players are betting on gold and the markets down Monday???

What is your crystal Ball telling you or what do you think will happen come Monday???

Post by **Cobra** » Fri Jun 15, 2012 9:38 am

Richarab wrote:
EFA wrote:Good Morning, Cobra!
Nobody around this morning? Everybody went to church to pray for the Greeks and/or ourselves?
at the mosque

KeiZai · Post by **KeiZai** » Fri Jun 15, 2012 9:39 am

SP is backtesting old bearflag channel

and GM all

Harapa · Post by **Harapa** » Fri Jun 15, 2012 9:44 am

Signal Update:
My VIX based model remain in sell mode, however, it is likely to change the direction if VIX fail to rise in next few hours. I will post an update if signal changes the direction.

KeiZai · Post by **KeiZai** » Fri Jun 15, 2012 9:48 am

Gold still in the wedge

uempel · Post by **uempel** » Fri Jun 15, 2012 9:50 am

Three charts: BPSPX looks bullish, the channel shows resistance. 2nd chart shows a channel with resistance somewhere around 1335/1340. 3rd chart is yesterday's chart - shows that my ellipses were not precise: signal pointed to 1:00 pm and not to noon. Sorry guys

Tabby · Post by **Tabby** » Fri Jun 15, 2012 9:53 am

I saw on my stockchart before the market opens, there was Ask price for SPX 1341 and bid price 1316. It might give us a clue how they want to close today.

ClarkW · Post by **ClarkW** » Fri Jun 15, 2012 9:55 am

Little strange SLV -0.78% yesterday while GLD up slightly

Richarab · Post by **Richarab** » Fri Jun 15, 2012 9:56 am

Merkel and Germany should really just exit the euro - dont wait for Greece to implode and devour its IOUs and for the new socialist regimes to champion "growth" aka printing presses - just front step them all and say - we are going back to the Deutschmark - you can have the euro - certainly I would prefer the euro experiment end here - lest we kick the can done the road for even greater pain at later date

KENA · Post by **KENA** » Fri Jun 15, 2012 10:02 am

Liquidity had a small up tick but is still in contraction territory..But along with other indicators this very well could slowly build to a positive for up trend change.

(chart by stocktiming)

cougar · Post by **cougar** » Fri Jun 15, 2012 10:07 am

The SPY strangle that I sold will probably expire worthless...but for a few pennies...not worth waiting.
Closed it:

SWalsh · Post by **SWalsh** » Fri Jun 15, 2012 10:08 am

Richarab wrote:
EFA wrote:Good Morning, Cobra!
Nobody around this morning? Everybody went to church to pray for the Greeks and/or ourselves?
at the mosque

Khodeto Bokun

KENA · Post by **KENA** » Fri Jun 15, 2012 10:10 am

The strong stocks are increasing and weak stocks are decreasing setting up for a possible trend change to up.Notice the green is heading up this is something the bears do not want to see.

Claire · Post by **Claire** » Fri Jun 15, 2012 10:12 am

COBRA -- I'm confused about the SPY trading today, which is flat while the spx is up 7 pts and the sso is up. Do we trade last night's parameters for the SPY? Are you long?

SWalsh · Post by **SWalsh** » Fri Jun 15, 2012 10:13 am

TraderJoe wrote:GM to all...

Central banks are reportedly preparing for coordinated action to provide liquidity if needed (another plus).

Japan's QE devastated them. We are in The Liquidity Trap

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