Cobra's Market View

Gold http://99ercharts.blogspot.com/2011/10/gold_20.html
Silver http://99ercharts.blogspot.com/2011/10/silver_20.html

Philadelphia Fed Survey

http://bloomberg.econoday.com/byshoweve ... r=2011#top

Today's chart

think bloomberg tv said it best...."economy is muddling through".

don't think this will be enough for the bulls today, but will have to see how the market digest this over the next 10-15 minutes. i'm guessing internals are weaker then headline philly fed beat and in-line leading indicators.

bulls don't often need much to move up, and with a blowout number, they weren't even able to get to the premarket highs. i think that should be watched carefully.

10 s+p points swings in less than a few minutes is not a healthy market. this has become a big gambling parlor .. crazy.. i am chilling today. tread carefully guys ..

tdo722 wrote:

GreedyKojiro wrote:I have a feeling that bulls will win today eventually... Will be closing my TVIX at $65.5... will be reloading ERX...

haha, u can't be a trader and have emotion.

You def are right! But when I can't spot trend, I trade on experience to protect the gain

BullBear52x wrote:Let me repeat IF we are going to run into another recession the small cap will hurt the most. well IWM shows some signs of that now.

We're in a depression.

they did that just to take the stops out of my shorts

SPX
http://99ercharts.blogspot.com/2011/10/spx_1233.html

Buckle up.

jarbo456 wrote:

BullBear52x wrote:Let me repeat IF we are going to run into another recession the small cap will hurt the most. well IWM shows some signs of that now.

iwm has definitely been leading this morning. my IWM puts are surely outperforming my SPY puts today so far.

i see EDZ leading too

Stock market video: “How To Trade Crude Oil ETF’s and Futures Contracts”

http://stk.ly/qYFCaS

stucap wrote:

stockcycle wrote:Buying the pullback/legs-down may be my game setting today.

any tips on how to effectively buy pullbacks?

Combining your scene and chart watching...Buy at acceptable low price.

waverider wrote:philly fed highest since april 2011

yeah but leading indicators missed consensus.

http://mam.econoday.com/byshoweventfull ... r=2011#top

agnosia wrote:10 s+p points swings in less than a few minutes is not a healthy market. this has become a big gambling parlor .. crazy.. i am chilling today. tread carefully guys ..

very true agnosia.

i totally agree with you.

DT you know the drill here, smelly for bears.

Unique wrote:

BullBear52x wrote:Let me repeat IF we are going to run into another recession the small cap will hurt the most. well IWM shows some signs of that now.

We're in a depression.

And we've been in one since 2008

Ironically, in bull camp this morning, buying tvix on spx top today.

I think my game setting can be accepted:

Dow Trader wrote:Today's chart

Goood morning! DOW Trader,

Besides Cobra's post, your posts are also very good for me to learn.
May I have small request? Could you please update your avatar in your profile, which will be easy to recognize your posts?

Thanks,

YSC

BIG move FCX