Cobra's Market View

Petsamo wrote:SPY's gonna bust yesterday's low

5 cents away.

MrMiyagi wrote:

Petsamo wrote:SPY's gonna bust yesterday's low

5 cents away.

It seemed yesterday like we could have had an oversold bounce today. Now obviously that isn't going to happen unless things rip for the last 35 minutes. Is tomorrow our bounce or are we going to take another tumble?

Al_Dente wrote:

L_T wrote:

Al_Dente wrote:

Petsamo wrote:Is da Bernak speaking ?

he's not supposed to speak, just release of fomc
FED SAYS HOUSING SECTOR SHOWS SOME FURTHER SIGNS OF IMPROVEMENT
•*FED SAYS U.S. HOUSEHOLD SPENDING ADVANCED `A BIT MORE QUICKLY'
•*FED REPEATS `EXCEPTIONALLY LOW' RATES AT LEAST THROUGH MID-2015
•*FED REPEATS IT WILL CONTINUE OPERATION TWIST THROUGH YEAR-END
•*FED TO KEEP BUYING $40B A MONTH OF MORTGAGE-BACKED SECURITIES
•*FED REITERATES `SIGNIFICANT DOWNSIDE RISKS' TO ECONOMY

So pretty much unchanged from their prior stance right?

Right, media is saying “nothing new”
I thought that “LOW' RATES AT LEAST THROUGH MID-2015” was different than 2014 but i might be behind the curve again
Lacker dissents again

Don't see how they can say this "EXCEPTIONALLY LOW' RATES AT LEAST THROUGH MID-2015" business. Isn't a lock that if Romney wins Ben's out and the Fed gets more hawkish? They can say "until we don't work here anymore, after that it's out of our hands", but I guess that truth just wouldn't fly.

Sidenote (and forgive the political angle): I guess the "good" thing about Romney, and think everyone can agree on this, is if he says something today, it doesn't mean he'll say it tomorrow. As such, I guess you can only give 50/50 odds that he'll actually appoint a more hawkish Fed Chair despite what he's saying now. (Silver lining of having no core beliefs)

And just to balance things out and not incur anyone's political wrath O has his problems too. (insert America hating muslim, socialist communist, radical Rev Wright christian here) K?

Just don't understand this "low through 2015" stuff. There's no way of knowing that for sure until 2 weeks from now. Which I guess leads to a larger point: In 2 weeks, now matter how the election plays out, an uncertainty is removed. We all know how the market feels about uncertainty.

MrMiyagi wrote:!!!!POWER HOUR!!!!

where is the power?
i'm hopping for strong close today

I guess tomorrow AH AAPL will make or break Obama's back.

Al_Dente wrote:

TraderGirl wrote:Full moon the 29th...

TG would that be bull or bear
It looks like a bottom at 139 ish
THANKS

I don't know where the final bottom is, but there is strong support at 1390...which would help the ending diagonal theory....

TraderGirl wrote:

Al_Dente wrote:

TraderGirl wrote:Full moon the 29th...

TG would that be bull or bear
It looks like a bottom at 139 ish
THANKS

I don't know where the final bottom is, but there is strong support at 1390...which would help the ending diagonal theory....

If we finish higher than here, we gap down tomorrow prob?

Seeing some pos d on the 15 min Dow...was expecting a bounce next couple of days....then down again...??

L_T wrote:

MrMiyagi wrote:

Petsamo wrote:SPY's gonna bust yesterday's low

5 cents away.

It seemed yesterday like we could have had an oversold bounce today. Now obviously that isn't going to happen unless things rip for the last 35 minutes. Is tomorrow our bounce or are we going to take another tumble?

EWG (Germany) needs to finish below 22.68, plus some other things

Xian wrote:

Al_Dente wrote:

L_T wrote:

Al_Dente wrote:

Petsamo wrote:Is da Bernak speaking ?

he's not supposed to speak, just release of fomc
FED SAYS HOUSING SECTOR SHOWS SOME FURTHER SIGNS OF IMPROVEMENT
•*FED SAYS U.S. HOUSEHOLD SPENDING ADVANCED `A BIT MORE QUICKLY'
•*FED REPEATS `EXCEPTIONALLY LOW' RATES AT LEAST THROUGH MID-2015
•*FED REPEATS IT WILL CONTINUE OPERATION TWIST THROUGH YEAR-END
•*FED TO KEEP BUYING $40B A MONTH OF MORTGAGE-BACKED SECURITIES
•*FED REITERATES `SIGNIFICANT DOWNSIDE RISKS' TO ECONOMY

So pretty much unchanged from their prior stance right?

Right, media is saying “nothing new”
I thought that “LOW' RATES AT LEAST THROUGH MID-2015” was different than 2014 but i might be behind the curve again
Lacker dissents again

Don't see how they can say this "EXCEPTIONALLY LOW' RATES AT LEAST THROUGH MID-2015" business. Isn't a lock that if Romney wins Ben's out and the Fed gets more hawkish? They can say "until we don't work here anymore, after that it's out of our hands", but I guess that truth just wouldn't fly.

Sidenote (and forgive the political angle): I guess the "good" thing about Romney, and think everyone can agree on this, is if he says something today, it doesn't mean he'll say it tomorrow. As such, I guess you can only give 50/50 odds that he'll actually appoint a more hawkish Fed Chair despite what he's saying now. (Silver lining of having no core beliefs)

And just to balance things out and not incur anyone's political wrath O has his problems too. (insert America hating muslim, socialist communist, radical Rev Wright christian here) K?

Just don't understand this "low through 2015" stuff. There's no way of knowing that for sure until 2 weeks from now. Which I guess leads to a larger point: In 2 weeks, now matter how the election plays out, an uncertainty is removed. We all know how the market feels about uncertainty.

I think it's possible that if and when the market starts to melt down, money could flow back into treasuries "safety" which would cause rates to go down without any intervention...

well, still nothing to say, almost at yesterday's low now, the H&S Top target I expected.

Cobra wrote:well, still nothing to say, almost at yesterday's low now, the H&S Top target I expected.

looks like Cobra won the prize yet again!

[/quote]

I think it's possible that if and when the market starts to melt down, money could flow back into treasuries "safety" which would cause rates to go down without any intervention...[/quote]

Excellent point. I didn't take that to be their meaning, but what you're saying seems absolutely sound to me

Earlier post:
"I have a chart that says down later today, but sometimes not reliable, but technicals look like it supports it so far...??"

That same chart says up tomorrow and Friday, but choppy....

gap down tomorrow to tag the blue uptrend?

fehro wrote:gap down tomorrow to tag the blue uptrend?

You have been right so far, don't stop now...

PowerLESS hour indeed...

well, guess that's it for today, boring day, and I have no idea about tomorrow as of now, need dig a little. Thank you guys, I'll see you tomorrow.

still have that gap to fill below?