Cobra's Market View

Al_Dente wrote:COBRA THANK YOU FOR A GREAT totally exhausting WEEK

I had a very busy week.

guys, before the weekend, please vote for me. Euro zone countries get their bailout package, to be fair, I think I should get some too. Please vote for me, thanks!

http://stockcharts.com/public/1684859/tenpp

GDX still in downtrend channel, needs to break out to get bullish....

Very bullish close.

cobra, you get a gold metal.

well, guess that's it for today, overly a very strong day, and NORMALLY, this should not be just one day event. Thank you guys, I'll see you TOMORROW. Yes, that's TOMORROW.

UVXY held support so far, still pos d...

Hey I just saw some data that said we go up another 400 points next Monday and Tuesday.

1390 reached. I am not bullish at all now. I closed all long positions today. Doesn't mean, I will short. At least not until the tape turns that way. Here are the reasons why -

1. NYMO is showing a divergence. This has worked reliably before and I dare say should work again. (I found this after I closed the longs so it was not a factor).
2. Other technical indicators are showing divergence in many indexes (XII is a one I started using because of Stocktiming.com). Many stocks/indexes are up against trendlines.
3. Unless Ben does something no one expects there is only one way to go. The expectation is that he will either not print or print some. Either way, it will not be enough.

Does this mean we crash to -below 0 on the indexes? No. Will be following VIX more closely in the next few days. Have saved up some for play with VIX futures. Looking for advice on what people use for VIX calls. GLTA.

TradingJackal wrote: Will be following VIX more closely in the next few days. Have saved up some for play with VIX futures. Looking for advice on what people use for VIX calls. GLTA.

jackal
All VIX related products here; only go where the volume is........
http://finance.yahoo.com/quotes/vxx,vii ... ol/view/v1
[edit: these are EQUITY vix products.... maybe u want options (?)]

Al_Dente wrote: [edit: these are EQUITY vix products.... maybe u want options (?)]

VXX looks most liquid but option bid-ask spreads are terrible! I will have to check the spreads during regular trading hours. Thanks for the heads up!