06/22/2012 Live Update

[Al_Dente]

Idle speculation from the who knows? department - Me thinks that should the morning high get broken, the shorts who don't want to hold over the weekend will scurry. Bears need to whack this thing down before that happens.

Agree mr bachnut

BTW: from the “LET’S JUST MAKE STUFF UP” department of CNBC
According to the professional anchors, the drop in gold yesterday was due to:
“selling pressure” from really “nervous margin clerks”
Astonishingly ridiculous….

[j1900q]

I believe we test 133.57, this weeks open before the end of the day. If I get a chance to play for that, I will.

[Al_Dente]

Per Bachnut: dollar says spy drops, bonds/yield says spy rallies

Evidently the fear du jour is that the U.S., Germany AND China will weaken simultaneously, creating a troika of global weakness.
We all know the U.S. sucks, Germany is feeling the pinch (“Ifo gauge” link posted earlier), and see what China has been doing (pink)
while we were obsessing over the Euzone:

[Cobra]

nothing to say, usually after a huge bar yesterday, today should be a small range day.

[soku]

not sure what is cobra doing. back in the old days he gave updates even when he's in bathroom.
i cannot help myself try another round of gap fill run. target 1318.5

[Petsamo]

EWG (Germany) is dropping on its own, without SPY.
IWM is in an ascending wedge

[Richarab]

not sure what is cobra doing. back in the old days he gave updates even when he's in bathroom.
i cannot help myself try another round of gap fill run. target 1318.5

cobra - my house in Kuwait is lovely and has 4 beautiful bathrooms - its for sale but you can rent to own - at discount naturally for you, my special advisor !


---
I am here: http://tapatalk.com/map.php?be2sc5

[Cobra]

trend line support. I'm neutral. already lost today's trade, so no direction here.

[soku]

not sure what is cobra doing. back in the old days he gave updates even when he's in bathroom.
i cannot help myself try another round of gap fill run. target 1318.5

maybe a bad call. put a stop at 1325.5 and i am heading out for lunch

[Cobra]

maybe it's triangle therefore the bias is down. not sure. wait.

[SWalsh]

Is this up because the banks, that Benji said could withstand a Great Depression blow, were told they only have Stage III cancer and not Stage IV?

George Carlin was right....we are so based as a nation on bullshit that we can't even wipe it from our eyes to see anymore, and that's just how the power elite like it.

[Cobra]

not sure what is cobra doing. back in the old days he gave updates even when he's in bathroom.
i cannot help myself try another round of gap fill run. target 1318.5

cobra - my house in Kuwait is lovely and has 4 beautiful bathrooms - its for sale but you can rent to own - at discount naturally for you, my special advisor !


---
I am here: http://tapatalk.com/map.php?be2sc5

Only 4 bathrooms? I thought it was a palace.

[Cobra]

I think Double Top confirmed on AAPL, just i'd be happy if fib 38.2% target could be reached. http://stockcharts.com/public/1684859/c ... /260183775;

[Al_Dente]

is XIV leading today?
FIVE MINUTE CHARTS only

[bertdanner]

I think Double Top confirmed on AAPL, just i'd be happy if fib 38.2% target could be reached. http://stockcharts.com/public/1684859/c ... /260183775;

Hi Cobra, Are you thinking it is too early to call the rising wedge breakdown, or that it is not the controlling formation, and therefor less significant? Thanks, Bert

[uempel]

I've got a signal at 2:00 pm. I'm not going to trade it, as I don't want to be stuck with a position over the weekend

[Cobra]

I think Double Top confirmed on AAPL, just i'd be happy if fib 38.2% target could be reached. http://stockcharts.com/public/1684859/c ... /260183775;

Hi Cobra, Are you thinking it is too early to call the rising wedge breakdown, or that it is not the controlling formation, and therefor less significant? Thanks, Bert

I usually don't read rising wedge too much because you can always have a bigger rising wedge. difficult to trade.

[Petsamo]

IWM busted its wedge to the down side

[KENA]

I've got a signal at 2:00 pm. I'm not going to trade it, as I don't want to be stuck with a position over the weekend

26.png

If the mkt gets to your target and breaks the 1305 area of the inverse H&S then mkt could test the june lows.

[Cobra]

not sure it's a very small double top here.