Cobra's Market View

Reminder:
“House Speaker John Boehner (R-OH) will deliver a statement today, Wednesday, November 7, at 3:30 p.m. ET on the fiscal cliff and the need for both parties to find common ground and take steps together to help our economy grow and create jobs, which is critical to solving our debt.”

Anyone long SVU or positioned for straddle/strangle before earnings? You are sitting pretty now either way. i'm long but still about a buck below my CB. Nice pop though. hope it can hold! KEEPS LOSING SUPPORT.....WHERE ARE ALL THE FOOLS WHO ARE BUYING APPL? CAN'T THEY BUY SVU FOR A DAY??? I've been...

ken d wrote:C&H could you remind me what this is ?

cup and handle

http://www.investopedia.com/terms/c/cup ... z1rZNko1Kv

99er wrote:Good Morning.

Thanks, Cobra, for hosting this fine board and thanks, folks, for making it fun to be here. Happy New Year!

http://99ercharts.blogspot.com/2011/12/2012.html

Well said. Thanks to Cobra and everyone for a great year, and here's to a great 2012!

Cobra,

I signed up via paypal yesterday and was successfully redirected back for log-in/membership details. It was a much smoother and straightforward process than many other sites, so well done.

Unique wrote:

Unique wrote:damnit, looks like JBTFD don't apply on support today. Time to put my bear hat on again.

The trend is your friend. GIMME THAT 120.3->120 NOW!

After 120 then 119.5. Fun day. Keep them coming bears

DIE BULLS DIE!

Is "DIE BULLS DIE!" really necessary?

BullBear52x wrote:GM,
anyone having problem with TOS?

FYI: Others on Twitter reporting major problems with TOS. Good luck.

deadmoney95 wrote:Could see some crazy moves "shortly":

CNBCbrk CNBC Breaking News
Greek Finance Ministry Says Troika Conference Call Over, Announcement Expected Shortly

Fairly anticlimactic:

CNBCbrk CNBC Breaking News
Greece To Hold More Talks With EU & IMF Tomorrow - DJ

Could see some crazy moves "shortly":

CNBCbrk CNBC Breaking News
Greek Finance Ministry Says Troika Conference Call Over, Announcement Expected Shortly

Market not liking Bloomberg report that Germany is preparing plans to shield its banks in case of Greek default.

Pop courtesy of NYT reporting Obama/Boehner close to a major debt ceiling deal.

cheech wrote: Simply incorrect and poor trading

Set up your own board then, hotshot, instead of giving Cobra crap. Your ego seems so big though that there probably wouldn't be room for anyone but you.

Third one

Bigger story on the 2PM spike in financials, from the Wall Street Journal MarketBeat blog: Well, that was quick: Just when bank stocks were down 2%, CNBC reported that the Fed was saying the bank capital surcharge would be more like 2% to 2.5% instead of 3%. Almost immediately, bank stocks recouped ...

Cobra wrote:ok, guys, I really need go to washroom, the longer time kind of going into washroom. so cannot comment for the next 10 min.

Best. Post. Ever.

Cobra:
Xièxiè
Gracias
Merci
Danke
Thank you

Simsonic wrote:Today's range estimate is 1294-1311. I now think it is likely that the cash S&P close above 1305 within the next few days. Such a close would mean that the cash low of 1249 will hold and that the market is headed for new bull market highs.

Carl Futia?

Wall Street Journal is reporting that TEPCO claims cooling systems at fukushima nuclear plant should be coming online and functional by tomorrow.

Today is traditionally "whipsaw Wednesday" of options expiration week, so I would not be surprised to see a swoosh up to get some new puts to expire worthless.

BREAKING: EU Energy Chief Says Possible Catastrophic Events In Next Hours http://is.gd/FJWZqJ