Cobra's Market View

ClarkW wrote:$NATGAS Weekly. Brown trendline rejected price. The lime green trendline goes back to 1992. Would be perfect to see it drop below it to about 38% fib level, staying within the channel and heading higher. Talk about wishful thinking

Hi Clark,

Have you taken a short position in natural gas?

DTES

Quick video on NG
Short term outlook is down to $3.40
http://screencast.com/t/soNvcODCb
NTA
GLTA

ClarkW wrote:Cobra, to piggy back on one of the stocks that are on your long screen report. Here's an interesting article on STZ regarding a December pattern that has worked 19 of 20 times. Article also includes patterns for other stocks in December.
http://www.investopedia.com/stock-analy ... z2EUwmW5Fv

Thanks.

Tax selling, both winners and losers this year?
http://news.yahoo.com/wall-street-week- ... nance.html

daytradingES wrote:

ClarkW wrote:$NATGAS Weekly. Brown trendline rejected price. The lime green trendline goes back to 1992. Would be perfect to see it drop below it to about 38% fib level, staying within the channel and heading higher. Talk about wishful thinking

Hi Clark,

Have you taken a short position in natural gas?

DTES

I bought a 1/4 position in KOLD on Thursday so yes, but not much.

a quick video on ES for Monday

http://screencast.com/t/aC8cu8e1vd

nTA

GLTA

wayne0708 wrote:Dear Lord!
May the next move be a BIG one whether it's from AAPL or SPX.

Nice chart wayne, would you please post the parameters of the indicator on the top of your chart

TIA,
RF

looking at cobra's IWM weekly chart: http://stockcharts.com/public/1684859/c ... /125784677;
shows that a black bar on the weekly guarantees lower prices next week (but not necessarily lower close).

BullBear52x wrote:Paging KeiZai on UNG and ^NG

First I want to thank ClarkW for reminding me of my goofiness on NG chart instead of ^NG.
to correct the mistake I throw in all of the future NG beneath UNG UNG shorter term is hanging by the cliff, do or die for the NG bulls I see strong suppor right about here. trading below 20.24 I will be really worry for bulls here.

The attachment 1.JPG is no longer available

The attachment 2.JPG is no longer available

Hi BB for me the big question is if the current decline is in 3 or 5waves, either way should bounce around 3.30 and the retrace of the bounce will tell a lot of which count is correct one but line in the sand is definitely 3.28. I am leaning slighty toward bearish case as price action from april lows looks more like a flat (3rd chart : viewtopic.php?f=2&t=750&p=107125#p107125) but nested 1-2 cannot be ruled out so far (until is above 3.28)

So I am keeping an eye on that line and dec.monthly close Harmon Greg have a nice view on NG as well: http://dragonflycap.com/2012/12/04/tues-am-2/

2 cases I am looking at atm But definitely NG have a HUGE potential and that´s why I am watching it very closely especially potential falling wedge (chart 1)

daytradingES wrote:a quick video on ES for Monday

http://screencast.com/t/aC8cu8e1vd

nTA

GLTA

Thanks for the video DTES. Would you venture to assign a probabiliy to a down week given that all astrological aspects are negative next week? BTW, I have a turn date on the 19th which at present looks like it will be a high.

AUD/JPY some kind of weakness is likely just around the corner

EDIT: There is a typo in text : like to test it


FXY

Hi KeiZai,
I love your charts.. Please keep us UP TO DATE on your NG & UNG charts.
Happy trading

KeiZai wrote:

BullBear52x wrote:Paging KeiZai on UNG and ^NG

First I want to thank ClarkW for reminding me of my goofiness on NG chart instead of ^NG.
to correct the mistake I throw in all of the future NG beneath UNG UNG shorter term is hanging by the cliff, do or die for the NG bulls I see strong suppor right about here. trading below 20.24 I will be really worry for bulls here.

1.JPG

2.JPG

Hi BB for me the big question is if the current decline is in 3 or 5waves, either way should bounce around 3.30 and the retrace of the bounce will tell a lot of which count is correct one but line in the sand is definitely 3.28. I am leaning slighty toward bearish case as price action from april lows looks more like a flat (3rd chart : viewtopic.php?f=2&t=750&p=107125#p107125) but nested 1-2 cannot be ruled out so far (until is above 3.28)

So I am keeping an eye on that line and dec.monthly close Harmon Greg have a nice view on NG as well: http://dragonflycap.com/2012/12/04/tues-am-2/

2 cases I am looking at atm

NG.png

But definitely NG have a HUGE potential and that´s why I am watching it very closely especially potential falling wedge (chart 1)

TraderJoe wrote:Hi KeiZai,
I love your charts.. Please keep us UP TO DATE on your NG & UNG charts.
Happy trading

KeiZai wrote:

BullBear52x wrote:Paging KeiZai on UNG and ^NG

First I want to thank ClarkW for reminding me of my goofiness on NG chart instead of ^NG.
to correct the mistake I throw in all of the future NG beneath UNG UNG shorter term is hanging by the cliff, do or die for the NG bulls I see strong suppor right about here. trading below 20.24 I will be really worry for bulls here.

1.JPG

2.JPG

Hi BB for me the big question is if the current decline is in 3 or 5waves, either way should bounce around 3.30 and the retrace of the bounce will tell a lot of which count is correct one but line in the sand is definitely 3.28. I am leaning slighty toward bearish case as price action from april lows looks more like a flat (3rd chart : viewtopic.php?f=2&t=750&p=107125#p107125) but nested 1-2 cannot be ruled out so far (until is above 3.28)

So I am keeping an eye on that line and dec.monthly close Harmon Greg have a nice view on NG as well: http://dragonflycap.com/2012/12/04/tues-am-2/

2 cases I am looking at atm

NG.png

But definitely NG have a HUGE potential and that´s why I am watching it very closely especially potential falling wedge (chart 1)

Agree 100% TraderJoe! Great charts KeiZai!

daytradingES wrote:Quick video on NG
Short term outlook is down to $3.40
http://screencast.com/t/soNvcODCb
NTA
GLTA

Great video DTES! Thanks for sharing!

Still in Fiscal Cliff megaphone formation as far as I am concerned.
Potential dispersion of outcomes wider ahead than behind.
Could be good for day traders, which I am not.
Position traders should probably wait for extremes or resolution.

ClarkW wrote:$NATGAS Weekly. Brown trendline rejected price. The lime green trendline goes back to 1992. Would be perfect to see it drop below it to about 38% fib level, staying within the channel and heading higher. Talk about wishful thinking

Lemonade from lemons. http://translate.googleusercontent.com/ ... lNJoZ22X1Q

Thanks very much folks I will try my best to keep u up to date


USD/CAD

This count fits best to cad imo, if so then is very close to bounce (risk off in equity market) before more weakness (risk on - near end of december?)

weekly

Sector view

Al_Dente wrote:Sector view

129wkndsectorb.png

Thanks for the sector view Al. I had no idea the tech sector was so weak. How can the market continue going up without the Tech sector?

KeiZai wrote:

BullBear52x wrote:Paging KeiZai on UNG and ^NG

First I want to thank ClarkW for reminding me of my goofiness on NG chart instead of ^NG.
to correct the mistake I throw in all of the future NG beneath UNG UNG shorter term is hanging by the cliff, do or die for the NG bulls I see strong suppor right about here. trading below 20.24 I will be really worry for bulls here.

1.JPG

2.JPG

Hi BB for me the big question is if the current decline is in 3 or 5waves, either way should bounce around 3.30 and the retrace of the bounce will tell a lot of which count is correct one but line in the sand is definitely 3.28. I am leaning slighty toward bearish case as price action from april lows looks more like a flat (3rd chart : viewtopic.php?f=2&t=750&p=107125#p107125) but nested 1-2 cannot be ruled out so far (until is above 3.28)

So I am keeping an eye on that line and dec.monthly close Harmon Greg have a nice view on NG as well: http://dragonflycap.com/2012/12/04/tues-am-2/

2 cases I am looking at atm

NG.png

But definitely NG have a HUGE potential and that´s why I am watching it very closely especially potential falling wedge (chart 1)

Thanks KeiZai, the next pennies make all the difference interesting.