Cobra's Market View

fill morning gap

not a valid breakout yet, but no harm to know double bottom text book target.

XIV ceiling 28.5. UVXY 24.75.

AAPL new highs.

State Street slashes expense fees on 41 ETFs
(to compete, will other ETFs follow suit ??)
http://www.heraldonline.com/2015/02/03/ ... .html?rh=1

silicon_beaver wrote:XIV ceiling 28.5. UVXY 24.75.

I think 24.75 will touch and break a little and as long as 22.9 can hold and pop up then bear will take a control for a while

Jennyahwu wrote:

silicon_beaver wrote:XIV ceiling 28.5. UVXY 24.75.

I think 24.75 will touch and break a little and as long as 22.9 can hold and pop up then bear will take a control for a while

It's estimated given SPX 2070 target.
If UVXY 22.90, SPX target would be 2085-2090.

Very clear the last run up was the Europeans going into their close. We are done with economic reports, all bad today, oil build was double what they thought, JPY/Dollar hasn't been moving the market, so will we see some of those "holy cow what was that" spikes in the VIX?

[NEW “JUNK”: worth reading later]
“…80-Year-Old Whiz Kid Reinventing the Corporate Bond”
“His latest handiwork is a hybrid security that embeds a credit-default swap, the derivative that helped push the global financial system to the edge of ruin in 2008, in a corporate bond. By joining the two securities into an instrument called an “exchangeable bond,” or eBond for short, McQuown says companies will be able to transform junk-graded debt into the equivalent of AAA-rated notes.”
http://www.bloomberg.com/news/articles/ ... orate-bond

It doesn't look like bears will have a chance, last weakness turns positive D and run just like yesterday, any how, a trade lower than 2046.5 from here will give a bear some hope for the new counter trend setup intraday, for now I see nothing much on bears plate. $NYAD is a little weak for any more up side.

ETF to watch XLV, looks like money is moving away from it. Cycle rotation watch.

Premkt PB 204.84 has been met. Now what.

61.8% watch. trades lower, bears will have a new game.

$204.95 got hit 15 minutes or so ago

So Goldman cut payroll estimate from 250,000 to 210,000. They cited the ADP report. They (Goldman) have the best track record on this the most market moving monthly economic data point. So if you are following a narrative driven market the commentary is turning bearish fast.

Al_Dente wrote:[NEW “JUNK”: worth reading later]
“…80-Year-Old Whiz Kid

I'm assuming that's a typo.

EDIT: Just read it. It's not a typo

:geek:Thank you NUGT...

Mickey mouse cashin' out?