Cobra's Market View

Cobra wrote:not sure if this is kiss trend line good bye. this picture doesn't look bullish, I'll explain later if indeed rollover sometimes later. otherwise let's forget about any bearish chart pattern for awhile.

Technically, it looks like the 60 minute chart is setup for a second down leg early next week to test at a minimum this week's low. That is hard to predict with all these straight up and down without pause.

When I look at an hourly chart, drops are big red bars and the rises are slow and small. I assume the later is retail ( bag holders ) and the former is institutions dumping in one go ( beside gap down ).

waverider wrote:Champix, do you have any charts on silver? I have a buy stop on AGQ @ 68, looking for silver to fill up to 39 eventually.

http://stockcharts.com/h-sc/ui?s=AGQ&p= ... =247928823

Hi waverider,
I am only trading Crude (CL), gold (GC) and miniS&P (ES) as futures but no silver.
Here is the one I am using for GOLD (30 min chart), do not know if usefull for you....

tdo722 wrote:

knock wrote:

tdo722 wrote:bought 5000 shares uup at 21.69. stop loss 21.67.

Why not EUO? Better fluctuation.

I never trade EUO before, always uup.

PM-ed you a message. Thanks.

xfradnex wrote:JEF shorts still not available. LUK and co bought 3 mil shares at 11.84 yesterday; assume that what insiders think it is worth.

hi xfradnex. can you say what firm u are with that is only allowing 100 shares short?

From The Department of No Cigar

(Reuters) - The euro zone won verbal support but no new money at a G20 summit on Friday for its tortured efforts to overcome a sovereign debt crisis, while Italy was effectively placed under IMF supervision.

http://www.reuters.com/article/2011/11/ ... E920111104

From The Department of Greek Tragedy

(Reuters) - Already exasperated by a seemingly endless wave of pay cuts and tax hikes, Greeks watched the latest political drama unfolding in their capital with a mixture of despair and disbelief.

http://www.reuters.com/article/2011/11/ ... KS20111104

scott . put in 1000 reject.100 accept. 1000 reject last.

champix wrote:

champix wrote:

champix wrote:If you trade what you see, well you just sell CL (crude oil) when it breaks this bear flag (1 min chart) with target 92.45-92.70 zone.
But I do no know why, I am really not convinced the market is going down... we'll see

Things are turning bullish short term... bear flag is more an ascending channel.
I bought CL @ 94.01, 1st target high of the channel @ 94.60 then fib fan above @ 94.85... stop even (94.01)

Stoped @ 94.02 and short 94.01... this market is insane... target 93.15 !
I gonna manage to have my bucks at the end !!!!!!!!!!

Ok, stoped again at even... I give up ! not a market for me today ! Have a nice one all...

Here is the one I am using for GOLD (30 min chart), do not know if usefull for you....[/quote]

Thanks, looks like a bull flag into support around 1745-50.

From The Department of Italian Comedy

Berlusconi is widely believed to have already lost the numbers he needs to survive in parliament but he told reporters at a G20 summit in France: "We have a majority which I continue to believe is solid and so we will continue to govern."

http://www.reuters.com/article/2011/11/ ... QQ20111104

ActiveTrader wrote:

Cobra wrote:not sure if this is kiss trend line good bye. this picture doesn't look bullish, I'll explain later if indeed rollover sometimes later. otherwise let's forget about any bearish chart pattern for awhile.

Technically, it looks like the 60 minute chart is setup for a second down leg early next week to test at a minimum this week's low. That is hard to predict with all these straight up and down without pause.

I could even see a lower low than this week low, then go to new highs later in the month.

either double top or C&H here, let's wait.

Cobra wrote:either double top or C&H here, let's wait.

thanks. but question is which one do you see has better chance?

Double top?

Spy triangle.

Cobra wrote:the bigger picture still it's a bear flag. I have no confidences at all for calling bearish pattern nowadays though.

imho the LAST shot at a double top is now...

if this fails, the market follows ther GRPN logic +37.5%

Here is the hourly

silkway wrote:Double top?

I have my fingers crossed!

key time, breakdown would be double top.