Cobra's Market View

Petsamo wrote:That's a big ugly red candlestick on the German DAX.

Yep, that shooting star yesterday was the tell as I mentioned, didn't short unfortunately. Bears don't look weak to me.

good morning all,
today seems like a red day .. i am holding dearly all of my shorts from yesterday morning.

Cobra wrote:OK, target.

Target is the lite blue shaded area?

Al_Dente wrote:PAGING MR BACHNUT

Our TED SPREAD has started to turn down for the first time since last August, implying that credit risk is easing…….what think you?
http://stockcharts.com/h-sc/ui?s=$TED&p ... =248214703

Funny you should ask, I meant to post a chart yesterday.
I think this is a favorable development. It suggests the banks may be stepping away from whatever precipice was coming into view late last year.
It fits with the strength in financial stocks recently. Perhaps the steps taken in Europe have alleviated the funding stress.
I would like to see more followthough on TED Spread in case the recent move is just a beginning of year thing,
but I have been noodling the idea of longing financials if we can get some kind of pullback here.

jarbo456 wrote:is that it bears? the best you can do is break the previous ES lows at 1279.25...

You have just invoked the GOI
Gods Of Irony
The bears owe you a debt of gratitude

EURUSD is forming a new low.

endoal wrote:

jarbo456 wrote:is that it bears? the best you can do is break the previous ES lows at 1279.25...

You have just invoked the GOI
Gods Of Irony
The bears owe you a debt of gratitude

i knew it just needed a little encouragement. usually when i start to get emotional is when the bears tend to do their job!

volume surge. rebound of somekind here...

VXX breakout

TA is still working? if so, watch out my internals tells me be nimble if you are short Up volume is too low, over sold big time.

gabor wrote:EURUSD is forming a new low.

I read in an FX forum, that EURO capitulation is expected below 1.26. I do not know what does that mean...

interestingly, french tv says france was downgraded by sp. sp hasn't confirm yet.

BullBear52x wrote:TA is still working? if so, watch out my internals tells me be nimble if you are short Up volume is too low, over sold big time.

you wouldn't short the rebound here?

Here is the mini evil index from last night back at the neckline....giving us a warning The VXX hourly

gabor wrote:

gabor wrote:EURUSD is forming a new low.

I read in an FX forum, that EURO capitulation is expected below 1.26. I do not know what does that mean...

exhaustion selling should push eur below 1.26 before a major rebound occurs. we'll get COT reports for eur positioning again today...should show increased eur short positions...might not be many people left to short euro after this.

I'm Glad to be back somewhat.Been sicker then a dog for the last few days..I have a short that may do good as the mkt goes dn .CVLT..This is not for the faint of heart.It will have some good moves and $ will be made on swing trades and sometimes on daytrades.You have to watch it.Look at your charts and then lets see.

soku wrote:i see a small reversal pattern possibly around es 1277.my bounce target could be 1285-1286 area.
overall i still believe the top was in yesterday

if no surprising news, the small bullish pattern is still there. 1272 reversal would cause difficulty to calculated target tho. maybe 1281-83

Al_Dente wrote:PAGING Baron von Lurking

http://www.youtube.com/watch?v=E2VCwBzGdPM&feature=fvst

Thank you, I do see blue sky today you see TRIN over 3 today? bears mean business this time.

soku wrote:interestingly, french tv says france was downgraded by sp. sp hasn't confirm yet.

wow ft also says rating cut of france and italy. happy anniversary

Pilot Short is still on but was reduced yesterday...so, today's crack is right on cue.
Longs taking profits and looking to sleep easy over the long weekend.
Max Pain for OPEX next week is 126. So, perhaps we have started the move to reconcile with that.
Too soon to judge the intermediate implications but for those fishing for a top, we're getting some bites here.