Cobra's Market View

Gap up above yesterday's high so there're some chances the gap won't be filled, not sure.

For the Global ES, I need see a few more bars. It had a breakout but failed, so kind of like a head fake but the pullback so far isn't large therefore if bulls could hold here then it's still a valid breakout, let's see.
The news (Chinese support Euro zone) suppose to be good for Euro (actually, Chinese didn't promise to buy Euro debt, I don't know why people read it Chinese are willing to buy Euro debt), but look at the EURO now, all the overnight gains are gone.

yesterdays post :

We are almost a week in this area without power up or down, I am expecting "little" help tomorrow huge gap up to new high...as usual

Dax's sudden down bar is not good.

Natural gas tanking
What an odd trade ng is - no fundamentals - just pump and dump news driven fiasco


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GM all,

WOW! Yesterday afternoon SUDDEN buying program scares everyone out of shorts. It's designed to. So you won't notice the obvious. I am still short GLD and feel a good chance at a profit. The dollar is strong and breaking up out of a base. GLTA jimme

Many futures holding same pattern - very top heavy - looking to consolidate before next lift off - but how high can these markets go?


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jimme wrote:GM all,

WOW! Yesterday afternoon SUDDEN buying program scares everyone out of shorts. It's designed to. So you won't notice the obvious. I am still short GLD and feel a good chance at a profit. The dollar is strong and breaking up out of a base. GLTA jimme

gold still strong right now.

More warning signs from the view of market breadth
T2107-Market breadth (Percentage of stocks above their 200-day moving average) is giving warning signs of downward crossover from the high.

McClellan is on my side so my strategy for today : if we break below 1354 it is head fake aka bull trap and im going short, tvix dont have discount price for today but will try it or maybe financials they are pretty weak

KeiZai wrote:McClellan is on my side so my strategy for today : if we break below 1354 it is head fake aka bull trap and im going short, tvix dont have discount price for today but will try it or maybe financials they are pretty weak

would you short gold here?


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I am here: http://maps.google.com/maps?ll=29.751504,-95.453311

the open.

stockcycle wrote:More warning signs from the view of market breadth
T2107-Market breadth (Percentage of stocks above their 200-day moving average) is giving warning signs of downward crossover from the high.

T2108 (Percentage of stocks trading above their 40-day moving average) is showing a negative divergent when it has been standing almost unchanged for 20days meanwhile MACD and RSI has been showing weakness for 12days.
Also pay attention to the Bollinger Bands that are converged. That means a break out is imminent and in this case, the direction must be down side.

Dear VWAP,

Please move down so we can finally get some big red without the mean reversion junkees getting in the way!

Richarab wrote:

KeiZai wrote:McClellan is on my side so my strategy for today : if we break below 1354 it is head fake aka bull trap and im going short, tvix dont have discount price for today but will try it or maybe financials they are pretty weak

would you short gold here?


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Dont know mate Im not a gold expert but looks good to short it for a while

knock wrote:

jimme wrote:GM all,

WOW! Yesterday afternoon SUDDEN buying program scares everyone out of shorts. It's designed to. So you won't notice the obvious. I am still short GLD and feel a good chance at a profit. The dollar is strong and breaking up out of a base. GLTA jimme

gold still strong right now.

I think it will be much lower after the bell. jimme

What percentage chance does anyone think this is 10/11/07? 2%, 5%, 25%...meaning a top for this entire rally.

nonabear wrote:What percentage chance does anyone think this is 10/11/07? 2%, 5%, 25%...meaning a top for this entire rally.

10/11/07 = July 11, 2010 ?
I don't remember what's significant about that date.

Richarab wrote:

KeiZai wrote:McClellan is on my side so my strategy for today : if we break below 1354 it is head fake aka bull trap and im going short, tvix dont have discount price for today but will try it or maybe financials they are pretty weak

would you short gold here?


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Richarab. I don't have an opinion on GLD myself but wanted to know if you had any thoughts on $GOLD:$PLAT and/or $GOLD:$SILVER long term. A lot of talk of the extremes of $GOLD:$PLAT

we are topping, folks.

A greater correction will come.

Maybe when greece defaults or leaves euro in March ?

Then we can rally for new highs before tanking again late in the year.

EvilTrader wrote:we are topping, folks.

Japan, China, & India didn't get that memo. They rallied big last night.