Cobra's Market View

Gap up along the Friday's high, so not sure if the gap will be filled or not. Key time, because it can be seen as the revisit of the previous high therefore 50 to 50 chances of reversal here. Bears need pray for no decisive breakout.

From the Global ES though, this look like a consolidation before a breakout and this is why I said bears need pray here. Well, let's see.

GM,COBRA.
i think this orange line will be visited.

GM, Cobra!

Good morning,

I'm short some contracts of /ESZ1. If I want to maintain my short position and want to "roll over" to the March '12 contracts, should I just close out my current position and open new positions in /ESH2?

Thanks.

Dax may offer some clues for today.
ES might still need some retracement to fill the gap and then move up for 1270 trendline.

Sank1 wrote:Good morning,

I'm short some contracts of /ESZ1. If I want to maintain my short position and want to "roll over" to the March '12 contracts, should I just close out my current position and open new positions in /ESH2?

Thanks.

We all tend to do it on Wednesday/Thursday 7th/8th, prices tend to be skewed afterwards.

The DAX does not have a higher high on the daily. It would suck if we rally to give them that higher high. The Nikkei & India rallied a little from their open. The Hang Seng dropped a little.

GM,
/ES DB tops. watch RSI like a hawk here.

Sell DB tops

the open, way too stretched so should be a pullback of some kind first the we'll see.

uempel wrote:

Sank1 wrote:Good morning,

I'm short some contracts of /ESZ1. If I want to maintain my short position and want to "roll over" to the March '12 contracts, should I just close out my current position and open new positions in /ESH2?

Thanks.

We all tend to do it on Wednesday/Thursday 7th/8th, prices tend to be skewed afterwards.

Thanks, uempel.

GOT STOPPED OUT OF MY TZA FROM FRIDAY.

Anyone here follow $WTIC and have an opinion? We're over 102 now.

jaijailyc wrote:GOT STOPPED OUT OF MY TZA FROM FRIDAY.

I still have EDZ end of day will decide but for now short on.

BullBear52x wrote:

jaijailyc wrote:GOT STOPPED OUT OF MY TZA FROM FRIDAY.

I still have EDZ end of day will decide but for now short on.

I am looking for a re entry ... I was sad to see it stopped out but oh wells. Almost wanted to cancel the stop order.

jaijailyc wrote:

BullBear52x wrote:

jaijailyc wrote:GOT STOPPED OUT OF MY TZA FROM FRIDAY.

I still have EDZ end of day will decide but for now short on.

I am looking for a re entry ... I was sad to see it stopped out but oh wells. Almost wanted to cancel the stop order.

I am not bearish, this is daytrade. my yellow zone top range so sell first ask later.

just as a follow up. i'm out of my long /CL trade, my long Eur/USD trade, and my long USO trade as of this morning. oil looks to be cresting, and either we'll have a decisive break above 103, or else we will have put in a double top. for now, i will wait to see what the market decides.

as i said on cobra's board earlier, it's too bad that i put in a short SPY position. i was regretting it over the weekend, and certainly regretting it this morning.

Working on the 4th monster gap in last 6 sessions (5 out of 6 gaps higher). Consider this, last week the SPY gained $8.52 of which $7.99 happened on the gap or 94% of all gains were done in the pre market. Goold luck to all. I shorted the open, expecting at least a partial gap fill. Just playing small dollars though.

BullBear52x wrote:

jaijailyc wrote:

BullBear52x wrote:

jaijailyc wrote:GOT STOPPED OUT OF MY TZA FROM FRIDAY.

I still have EDZ end of day will decide but for now short on.

I am looking for a re entry ... I was sad to see it stopped out but oh wells. Almost wanted to cancel the stop order.

I am not bearish, this is daytrade. my yellow zone top range so sell first ask later.

I am only bullish for the month but feel a need for a little pullback. Maybe I should just wait for JBTFD

SB73 wrote:Working on the 4th monster gap in last 6 sessions (5 out of 6 gaps higher). Consider this, last week the SPY gained $8.52 of which $7.99 happened on the gap or 94% of all gains were done in the pre market. Goold luck to all. I shorted the open, expecting at least a partial gap fill. Just playing small dollars though.

i think SPY will have to come down to around 126 before bears can possibly hope for a gap fill. right now it's flirting with Friday's high's at 126.50.