07/26/2012 Live Update

[Cobra]

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!

Please, again, all my calls in the daily live update is for intra-day only, they're absolutely invalid when the closing bell rings. If you're interested in the forecast for days and weeks, please subscribe my daily newsletter services. Thanks.

Also personal attack on any board members won't be tolerated. Please limit your topic to trade related only. Thanks.


Huge gap up, so the gap might not be filled.

Nothing to say on Global ES, except that now it rebounds to Fib 61.8% area, let's see how this excitement ends. I need go out for couple of hours this morning, so would have no comments until perhaps noon time. You guys stay home and be nice to each other. I'll bring back candies.

[CarlosDK]

Before you go ,, can you have a look at DAX ? Bearish or bullish and what potential target if either way? Thanks

[KeiZai]

Recap

SP (yesterday´s)

And here we are
SP

If we break green-blue line we are going for new high which will be superb shorting opportunity - IF

P.S: little overshoot is allowed to about 38.2 fibo area

[OverUnder]

WHAT KIND OF CANDY?

[OverUnder]

Chinese newspaper reports launch of Iphone 5 to be delayed due to lack of availability of parts, I see Apple pulling back on that. Poor Apple man.

[joe-gamma]

is comedy-writer making up these headlines?

maybe the real squeeze starts so july closes month positive?

i/t (few day to a week)I try not to be short overnight against this 610minute ES chart

GLTA

es 726 610min.png (10.29 KiB) Viewed 5856 times

[TraderJoe]

China slowing down... Look at the steel prices for this week below;
STEELBENCHMARKER PRICES July 23, 2012
Dollars per Metric Tonne -- Pct Change
(net ton) [gross ton] {Euros}


Region: USA, East of the Mississippi
Hot-rolled band: 683 (620) 2%
Cold-rolled coil: 785 (712) 1%
Standard plate: 885 (803) -2%
Shredded scrap*: 333 [338] 2%
#1 Heavy melting scrap: 303 [308] 5%
#1 Busheling scrap: 331 [336] 2%

Region: Mainland China***
Hot-rolled band: 498 -7% ---- LARGE DROP
Cold-rolled coil: 613 -3%
Rebar: 493 -6%
Standard plate: 504 -5% --- LARGE DROP

Region: Western Europe
Hot-rolled band: 614 {507} -1%

Region: World Export Market
Hot-rolled band: 588 -2%
Cold-rolled coil: 685 -1%

[joe-gamma]

good morning Mr Miyagi: can you post premarket charts for q, spy and iwm...saw some higher prints before they realized durable goods was not really bullish.....
thx, joe

[louie]

WHAT KIND OF CANDY?

Are we going to fight over the candy?

[joe-gamma]

LOUIE: we have Ceased fighting anyone....OR The King Bites Us! GL today

[louie]

I don't trade every day. Posted my trade yesterday: 1,000 shares XIV at 11.35. Target - 12.00. Over that target now. ANY insight???

[Petsamo]

Maybe the DAX wants to do a diamond formation. If that's the case, we drop from here

[joe-gamma]

bullbear has much better levels than me (see my posts tues-wed, would have gotten creamed intraday!)

[ClarkW]

I don't trade every day. Posted my trade yesterday: 1,000 shares XIV at 11.35. Target - 12.00. Over that target now. ANY insight???

my deep insight is....target will be met at the open

[HuyVanLang]

WHAT KIND OF CANDY?

Are we going to fight over the candy?

For sure if he's bringing many different kind of candies.

[joe-gamma]

get used to wild market swings for next 4-5weeks , at least by monthly volatility history during election years...

[Petsamo]

If anyone wants to go long, XME & KOL are the most beat up ETFs. The most beat up stocks are CLF, FCX, AMD, SID, X, & WLT. EWP & EWI (Spain & Italy) are very beat up also but they began their rally yesterday.

[louie]

WHAT KIND OF CANDY?

Are we going to fight over the candy?

For sure if he's bringing many different kind of candies.

Cobra is a trip! He placed us all in the playpen and promised candies if we are nice. Gotta love that guy!!!

[Petsamo]

Oh man, CLF reported earnings after the close yesterday. They must've reported bad because it's getting slammed right now

[KeiZai]

Rally sponsored by Draghi