06/07/2012 Live Update

Post by **Cobra** » Thu Jun 07, 2012 9:02 am

If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list here: http://stockcharts.com/public/1684859. You need "follow" only once but vote can be done everyday, so whenever you have time, please vote for me, thanks!

If you're not StockCharts member, you can also help boosting my rank by clicking the link once everyday: http://stockcharts.com/public/1684859, thanks!

Gap up above yesterday's high, so the gap might not be filled.

The Global ES is on a straight up, pretty much still is on the first leg so chances are the very first pullback would be bought. Very bullish and welcome to the era of money printing!

Post by **Cobra** » Thu Jun 07, 2012 9:03 am

ALL MY CALLS HERE ARE FOR INTRA-DAY ONLY! Unless specified.

They're only valid for the next 10 minutes or hour or two.

They're absolutely invalid when the market closed.

NEVER EVER treat my call for the next 10 mintues as I'm calling for the next few days or weeks or even years.

Again, all my calls are for intra-day only, they can be changed at any minute as the market is constantly on the move, so as my calls. I HAVE TO CHANGE FAST, don't ever point to me that I'm wrong because the market now is up while 10 minutes ago I called the market down, pay attention that I might have changed my call just a second ago. Again and again, this is a day trade forum for TRADERS who can swith direction fast.

If you're interested in the market direction for the next few days and weeks, please subscribe my newsletter services.

Please, members of my newsletter services, refrain from asking questions related to time frame other than day trade only, as it's not fair to other members. You can mail me or PM me for your questions related to market directions other than day trade. You can ask my opinion about certain stocks on the forum though. If I'm busy for the day, your questions posted on the forum are not guaranteed to be answered unless you email me.

Thanks.

Richarab · Post by **Richarab** » Thu Jun 07, 2012 9:10 am

Cobra wrote:ALL MY CALLS HERE ARE FOR INTRA-DAY ONLY! Unless specified.

They're only valid for the next 10 minutes or hour or two.

They're absolutely invalid when the market closed.

NEVER EVER treat my call for the next 10 mintues as I'm calling for the next few days or weeks or even years.

Again, all my calls are for intra-day only, they can be changed at any minute as the market is constantly on the move, so as my calls. I HAVE TO CHANGE FAST, don't ever point to me that I'm wrong because the market now is up while 10 minutes ago I called the market down, pay attention that I might have changed my call just a second ago. Again and again, this is a day trade forum for TRADERS who can swith direction fast.

If you're interested in the market direction for the next few days and weeks, please subscribe my newsletter services.

Please, members of my newsletter services, refrain from asking questions related to time frame other than day trade only, as it's not fair to other members. You can mail me or PM me for your questions related to market directions other than day trade. You can ask my opinion about certain stocks on the forum though. If I'm busy for the day, your questions posted on the forum are not guaranteed to be answered unless you email me.

Thanks.

roger that boss

---
I am here: http://tapatalk.com/map.php?45rx5p

Post by **Cobra** » Thu Jun 07, 2012 9:14 am

I think DAX H&S Top target has fulfilled (close enough is enough as TA is an art not science). The feeling however this down leg isn't over yet, got to be a pullback of some kind later making either lower low or higher low.

allen11 · Post by **allen11** » Thu Jun 07, 2012 9:15 am

me too,for day/option traders,signals for intra-day r nice

Cobra wrote:ALL MY CALLS HERE ARE FOR INTRA-DAY ONLY! Unless specified.

They're only valid for the next 10 minutes or hour or two.

They're absolutely invalid when the market closed.

NEVER EVER treat my call for the next 10 mintues as I'm calling for the next few days or weeks or even years.

Again, all my calls are for intra-day only, they can be changed at any minute as the market is constantly on the move, so as my calls. I HAVE TO CHANGE FAST, don't ever point to me that I'm wrong because the market now is up while 10 minutes ago I called the market down, pay attention that I might have changed my call just a second ago. Again and again, this is a day trade forum for TRADERS who can swith direction fast.

If you're interested in the market direction for the next few days and weeks, please subscribe my newsletter services.

Please, members of my newsletter services, refrain from asking questions related to time frame other than day trade only, as it's not fair to other members. You can mail me or PM me for your questions related to market directions other than day trade. You can ask my opinion about certain stocks on the forum though. If I'm busy for the day, your questions posted on the forum are not guaranteed to be answered unless you email me.

Thanks.

champix · Post by **champix** » Thu Jun 07, 2012 9:21 am

China unexpectingly lowered rate by 25 bps (3.25%)...
First time in the past 4 years.
This gives additional fuel to markets, especially copper that breaked its downtrend channel...

KeiZai · Post by **KeiZai** » Thu Jun 07, 2012 9:22 am

Good morning DAY traders

Dollar on the bottom of the channel

and euro trying to get back into old channel

closer look

Al_Dente · Post by **Al_Dente** » Thu Jun 07, 2012 9:26 am

Good morning Cowboys

Ben testifies today at 10:00 am ET
Anyone with a live link PLEASE POST, thx

KeiZai · Post by **KeiZai** » Thu Jun 07, 2012 9:27 am

Al_Dente wrote:Good morning Cowboys

Ben testifies today at 10:00 am ET
Anyone with a live link PLEASE POST, thx

GM AL
http://www.c-span.org/

TraderJoe · Post by **TraderJoe** » Thu Jun 07, 2012 9:28 am

GM to all - Great article on Gold and Warren Buffett

http://www.businessinsider.com/on-jelly ... old-2012-6

And to follow up on my comment yesterday on steel demand;
From Businessinsider - Today, China CLSA tells us that they just visited a number of steel traders and warehouses and found incredibly quiet activities. Trading volume for April and May was roughly 50-60% of “normal” according to one trader, with his key customers being an elevator manufacturer, a machine processing company, a metal shelf maker (for supermarkets) and an auto part company.

Read more: http://www.businessinsider.com/a-remark ... z1x6jTHdaf

My interest in steel is because I owned a large metal fabrication plant in the USA for over 25 years and during the Bush Jr. Presidency (I like to call him God W), Bush signed an ‘executive order’ imposing a 40-60% import duty on raw sheet steel entering in USA. My price for steel coils increased overnight from .18 per pound to over .30 per pound. Because of my contracts with my customers, I immediately started losing money. I opted to sell my business instead of fighting the steel prices.

My opinion of what would come from this ‘executive order’ by the man was correct, today many of the steel manufacturing plants, if not the majority, are closed.

China and India immediately figured out that this ‘executive order’ was ONLY for raw steel, NOT fabricated steel products. Well, since they figured this out, most of ALL fabricated products are now imported at prices American fabricators CAN NOT MATCH.

jdow · Post by **jdow** » Thu Jun 07, 2012 9:30 am

PowerShares QQQ (QQQ). 1% up Pre-Market: 63.12 0.60 (0.96%) 9:29AM EDT - Nasdaq Real Time Price

Post by **Cobra** » Thu Jun 07, 2012 9:30 am

the open. it's simply too stretched up, so might see a pullback or consolidation here first.

Harapa · Post by **Harapa** » Thu Jun 07, 2012 9:31 am

My VIX based system triggered a Buy yesterday. The last time I posted this chart the system was at the verge of issuing a signal, however, that scenario did not materialize. Back testing using SPY since May 2007 indicate a return of 113% on the long side and 105% on the short side, vs -13% for the B&H. This signal can last from 8h-many hours. (It is essentially a trend spotter). Note signal bars are superimposition of VIX derived signals. Happy Trading.

KENA · Post by **KENA** » Thu Jun 07, 2012 9:32 am

Cobra wrote:ALL MY CALLS HERE ARE FOR INTRA-DAY ONLY! Unless specified.

They're only valid for the next 10 minutes or hour or two.

They're absolutely invalid when the market closed.

NEVER EVER treat my call for the next 10 mintues as I'm calling for the next few days or weeks or even years.

Again, all my calls are for intra-day only, they can be changed at any minute as the market is constantly on the move, so as my calls. I HAVE TO CHANGE FAST, don't ever point to me that I'm wrong because the market now is up while 10 minutes ago I called the market down, pay attention that I might have changed my call just a second ago. Again and again, this is a day trade forum for TRADERS who can swith direction fast.

If you're interested in the market direction for the next few days and weeks, please subscribe my newsletter services.

Please, members of my newsletter services, refrain from asking questions related to time frame other than day trade only, as it's not fair to other members. You can mail me or PM me for your questions related to market directions other than day trade. You can ask my opinion about certain stocks on the forum though. If I'm busy for the day, your questions posted on the forum are not guaranteed to be answered unless you email me.

Well and nicely said..Amen
Thanks.

Apple · Post by **Apple** » Thu Jun 07, 2012 9:34 am

Al_Dente wrote:Good morning Cowboys

Ben testifies today at 10:00 am ET
Anyone with a live link PLEASE POST, thx

http://www.c-span.org/Live-Video/C-SPAN3/

Mr. T · Post by **Mr. T** » Thu Jun 07, 2012 9:37 am

We're Never Going Down Again!!!!!

OverUnder · Post by **OverUnder** » Thu Jun 07, 2012 9:38 am

DOW Transports. Can they hold a break over the May trendline?

Post by **Cobra** » Thu Jun 07, 2012 9:40 am

aapl need clear the above resistance before I'm really bullish on it. http://stockcharts.com/public/1684859/c ... /260183775;

ClarkW · Post by **ClarkW** » Thu Jun 07, 2012 9:43 am

Longer term trade IDEA, not a recommendation, just something I'm monitoring and considering. Curious to any thoughts, opinions, criticism especially.

Looking to short GDX via buying DUST today and holding for 2-10 days, so not an intraday trade, for the following reasons:
1. ChiOsc on GDX is the highest it's been in 3 years. Chart below points to previous times ChiOsc was above $15m, pointed to an intermediate term top of some kind each time
2. Black bar on daily points to a possible turn, although Cobra would probably say the strength of the move up, starting on May 14th, is too strong not to have another leg.
3. 50% Fib retracement level is providing resistance at around $48.54.
4. Lots of hope the past couple days about another QE program, can't help but think many will be disappointed after Uncle Ben's speech. Although we all know it will eventually happen. But Operation Twist is scheduled to end later this month I believe
5. Would have thought GDX would be up this morning on news China unexpectedly lowered interest rates

Any thoughts?

OverUnder · Post by **OverUnder** » Thu Jun 07, 2012 9:47 am

News report came out just premarket stating Merkel was ready to use Eurozone instruments, however, subsequent reports added the word "existing instruments", putting a bit of a damper on the initial interpretation.

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