Cobra's Market View

“…..’EU support for Spain and Italy looks more real today than it has any time the last three years,’ said Chris Rupkey, managing director and chief financial economist at Bank of Tokyo/Mitsubishi UFJ in New York. "This is not a 'buy some time' fix. It's big."
Despite the market euphoria, some remained skeptical.
Derek Halpenny at Bank of Tokyo-Mitsubishi UFJ in London said among lingering questions is whether the firepower available to the rescue funds will be enough to stabilize the 2.5 trillion euro Spanish and Italian bond markets, and how easy it will be to agree on the banking supervisory mechanism.
‘Our initial view is this deal is no game-changer.’……….”
11:26 AM ET, 06/29/2012 - Reuters

zh compares the squeeze to the 10/26/11 reaction to the Greek debt deal:
“…within two days, the entire rally had faded and indeed went on to sell off for a few more months as reality struck.
One month after that [2011] 4-sigma jump in EURUSD ... we saw the global co-ordinated central bank liftathon...”

http://www.zerohedge.com/news/eur-soars ... ened-after

P-bars?

Anyone? anyone?? Bueller??

ECB meeting next week, the expectation may be that the ECB rewards the EU with additional measures.

Al_Dente wrote:zh compares the squeeze to the 10/26/11 reaction to the Greek debt deal:
“…within two days, the entire rally had faded and indeed went on to sell off for a few more months as reality struck.
One month after that [2011] 4-sigma jump in EURUSD ... we saw the global co-ordinated central bank liftathon...”

http://www.zerohedge.com/news/eur-soars ... ened-after

SPX?...

!!!!!!SPX 1500!!!!!!

OverUnder wrote:ECB meeting next week, the expectation may be that the ECB rewards the EU with additional measures.

Al_Dente wrote:zh compares the squeeze ...

thx over
Anyone know what time today the EUzone meeting is over?
(translate to ET time, please, just this once, thnx much)

MrMiyagi wrote:!!!!!!SPX 1500!!!!!!

That one is even visible on Yahoo:
(See "Day's Range")

http://finance.yahoo.com/q?s=spy&ql=1

snakehead wrote:

MrMiyagi wrote:!!!!!!SPX 1500!!!!!!

That one is even visible on Yahoo:
(See "Day's Range")

http://finance.yahoo.com/q?s=spy&ql=1

We can see it from outer space

triangle, hopefully, the bias still is up.

shaca wrote:nasdaq +2,4% and NAUPV:NADNV is just 4
very very weak up volumes today

3.35 now
is this rally a joke? unbelievable weak volumes;
6.50 is the ratio on the nyse

i dont remember a day like this

chickencoop wrote:
We can see it from outer space

During weekend talk I said keep an eye on ABC (and IMGN), at pullback I am buyer (not a recommendation)

at this rate, we are going to lose MAD status... the advance volumes are creeping down.

still in triangle, wait.

Al_Dente wrote:

OverUnder wrote:ECB meeting next week, the expectation may be that the ECB rewards the EU with additional measures.

Al_Dente wrote:zh compares the squeeze ...

thx over
Anyone know what time today the EUzone meeting is over?
(translate to ET time, please, just this once, thnx much)

news talking abt ECB considering to lower interest rate...

double bottom or descending triangle, wait.

POP she goes... any NEW news?

double bottom I guess. surprise is always with the trend and this is why we should avoid trade against the trend.

MrMiyagi wrote:POP she goes... any NEW news?

Rumor: Soros fund went long 1.5 bln 10 yr equivalent Italian BTPs