Cobra's Market View

Flat open, so any gap will be filled and the day tends to be a range day.

Nothing to say on Global ES, other than I cannot say chart pattern is bearish before yesterday's low is decisively broken. Noted there's a gap around 11/27. ES tends to fill all the gaps that's what I heard, which I never did the back test myself, so not sure about this. Anyway, I do imply that the gap could be the target if yesterday's low is decisively broken.
Euro dropped below the support, not good looking.

Good morning Cobra and all
My freestockcharts.com is down. Is it just me? Please reply.

Al_Dente wrote:Good morning Cobra and all
My freestockcharts.com is down. Is it just me? Please reply.

Up for me.

Good Morning.

Honey...

EURUSD http://99ercharts.blogspot.com/2011/12/eurusd_14.html

More toast?

So honey...wanna go skiing today?

ES http://99ercharts.blogspot.com/2011/12/es_14.html

Let's go ski jumping.

Looking like straight down hill from your chart.

99er wrote:So honey...wanna go skiing today?

ES http://99ercharts.blogspot.com/2011/12/es_14.html

Let's go ski jumping.

No Santa rally this year?

Me XMan wrote:No Santa rally this year?

i believe there will be santa rally from lower levels.

Good Morning All! Thanks, for the new Member Only set up1 I hope everyone has a profitable day!

nevermind, i'm back up on freestock

"Noted there's a gap around 11/27."
That Gap starts around 1170, looks like.
That was a big one almost 20 points.

pidge66 wrote:

Al_Dente wrote:Good morning Cobra and all
My freestockcharts.com is down. Is it just me? Please reply.

Up for me.

David, are you ready to rock and roll?

Cobra, if another down day today, shall we say goodbye to santa rally? Thanks.

Good Morning Cobra.

I liked the vix charts posted last night, thanks!

I think the tax loss selling effect this year will be greater than usual. Funds are generally down from the last half of the year, but they will want to avoid having both a down year + having to pay tax on their net realized gains. Tack on low volume, and we should see weak names become even weaker.

Cutting Down Commodities
9:05 am ET 12/14/2011 - Briefing.com
"S&P futures vs fair value: -3.70. Nasdaq futures vs fair value: -7.40. Commodities have come under a concerted selling effort, resulting in a 1.4% loss for the CRB Index. Pressure is broad with oil prices down 2.0% to $98.10 per barrel ahead of the weekly oil inventory report, which is due at 10:30 AM ET. Nautral gas prices are also down sharply with a 2.0% loss at $3.22 per MMBtu. Precious metals aren't seeing any kind of flight to safety with stocks setting up for a flat-to-lower open after they already logged two straight losses for a cumulative decline of more than 2%. Gold prices were last quoted with a 2.5% loss at $1622 per ounce. Silver has been slashed to $29.52 per ounce, which makes for a 5.5% loss. In the backdrop, the dollar has extended its advance by another 0.4% against a collection of competing currencies. That puts the greenback at a new 11-month low." [edit: all in quotes]

Now we know the target of the swap program.

Berlin May Have to Nationalize Giant Commerzbank

http://www.spiegel.de/international/bus ... 27,00.html

noob wrote:Cobra, if another down day today, shall we say goodbye to santa rally? Thanks.

I still believe Santa Rally, just from what lever it starts, that's the question.

wow. oil fell off a cliff in this last hour.

The GLD breakdown will be confirmed of it closes the week under MAE(34)