Cobra's Market View

Look at the EURUSD

BullBear52x wrote:BUY TZA

What is your target on TZA?

Anca wrote:

BullBear52x wrote:BUY TZA

What is your target on TZA?

34.4 will be the first resistance.

key time, there's a chance for 2 legged rebound here (5 min chart), overall, the market action is not bearish.

Updates

Gold http://99ercharts.blogspot.com/2011/07/gold_05.html
Silver http://99ercharts.blogspot.com/2011/07/silver_05.html
Crude http://99ercharts.blogspot.com/2011/07/crude_05.html

some trend line support here. remember better not trade reversal until at least trend line broken and the previous high gets retested. we're far from this setup yet.

This is the bears best shot after a 650 run?

Pathetic.

what hold up QQQ so well? what is BLUD

some target.

BullBear, I agree TZA is going to get good soon = but I think it'll hit $30 before taking off (I'll be buying there)

GL to both of us

Cobra wrote:key time, there's a chance for 2 legged rebound here (5 min chart), overall, the market action is not bearish.

SPY looks like to form a bull flag.

Checking the retracement levels:

Mr. T wrote:BullBear, I agree TZA is going to get good soon = but I think it'll hit $30 before taking off (I'll be buying there)

GL to both of us

well, maybe I am too early, got to take a shot at anything once my green light is on either side.

so far so good, rebound as I said, should be 2 legged. BBQ today in 15 min, I like hot dog.

I am out of shorts, going long SSO now

closed Dow longs ( +20 )
still holding Eur longs

I will load back on the evil side once SPY trades under 133.5 again. play hard to get

How long you think they can play side ways like this? soon it will move one way. they just playing with daytraders, if it's boring enough most daytraders will fall asleep and that's when the run will occur. for now BULLs are roaming still.

RUT
Update.
http://99ercharts.blogspot.com/2011/07/rut_05.html
Looking at AB=CD at 748.

Hey Cobra,
your pink line pays dividend by 7/6. It usually spikes at the end of the month to few days into begining of the month.Is it possible that it creates a fake corrlation with SPY graph/chart?