Cobra's Market View

Anybody know what's holding up the NASDAQ? With Google, Apple and Netflix down, you'd think the techs would all be getting hammered. Interesting. Anaconda: I noticed that too and I have an exotic theory: Before “really” taking the market up, Da Boyz are engineering a make-believe bearish condition ...

Anybody know what's holding up the NASDAQ? With Google, Apple and Netflix down, you'd think the techs would all be getting hammered. Interesting.

Be careful bulls. This ramp is purely $ driven and, for now, the $ is getting trashed. Won't last, I'm afraid. Enjoy the pop while you can.
Good luck.

Cletus - fair enough. Good luck.

**************** TRADE ALERT **************** Bought July 130 calls at 1.17. Interesting note: They are higher than they were when I sold them this morning when the S&P was trading higher. Anyone want to take a guess why that is? (I know the answer) ...perhaps because, like you, most traders ar...

Anaconda: "Still think we are in P3 down" You may want to check out Daneric's Elliott Wave count; P3 is his preferred count too. http://danericselliottwaves.blogspot.com/2011/06/elliott-wave-update-15-june-2011.html Thanks. I just took a peek. Looks very informative. I look forward to rea...

99er wrote:SPX
So much for that nap.
http://99ercharts.blogspot.com/2011/06/spx_3574.html

Dirt nap, perhaps?

Still think we are in P3 down and that we'll break through 1249 shortly. Your chart says it all, 99.

Cobra - I know you have considered in the past whether or not to charge a fee for use of this site. And you have chosen not to. Perhaps it would be worth reconsidering. Please don't be offended by my unsolicited suggestion. But there is some rationale to it... I was a strategy consultant for 15 year...

cletus wrote:Gold update. I think it falls more.

Yes. And silver is catching up (or should I say, "down?").

99er wrote:EURUSD
Bet Trichet smokes Gitanes.
http://99ercharts.blogspot.com/2011/06/eurusd_5324.html

'99 - you missed your calling, my friend. Love the one-liners.

I like the 2nd one.

cougar wrote:Anaconda: I see that U R around...Shorting oil?

I am! Oil has been great to trade recently, hasn't it?! Covered half my morning oil short - made my monthly nut...today!

Congrats on the IWM play. (I think we're still in for more down...)

Good luck!

P3 down appears to be in play. May 2 high still intact. Should breach 1249 on the S&P, shortly.

$ up. Gold down. Oil down. Silver's the only one hanging back a little, still. I expect it to follow shortly. (Long ZSL calls.)

Continued happy trading.

BullBear52x wrote:a bullish set up for EDZ is confirmed.

Impressive calls. Thanks for your input on this board.
A

SPY: Here is an update of the “Bullish Bat Targets”. They are now 126.90 and 124.95, for “the bottom of the right wing”. I called them “Sarah Palin targets”… Had to sign in to acknowledge the Palin joke. Very witty! :D On another note, since I know you trade oil, too...How 'bout them short contract...

99er wrote:lilitulip:

Close up of Silver.

http://99ercharts.blogspot.com/2011/06/silver_8434.html

Thanks, Ninety-Nine!

Appreciate your charts. Bought a bunch of July ZSL calls, yesterday, hoping for that turn. Hope it pans out.

A.

remember my rule: 1. gap down, 10:30am ET lower low then 90% chances open > close. 2. a forward accelerating car cannot be reversed without slowing down first. so no buy dip here, even it looks very stretched and I admit i'm very nervous here but trading is mostly AGAINST YOURSELF! I have not heard...

Just wanted to share an irony I just saw on Yahoo Finance. Two headlines on top of each other. OPEC: Demand outstrips OPEC supply Oil slips below 101in Europe on stronger dollar I guess it goes w/o saying that market does not operate on fundamentals.... HK88 - I'm not sure what "demand" O...

Anybody else shorting USO? It will probably open under the line in the sand (39.76). Target = 39 zone (the bottom of the Keltner Channel). I own USO Jul 40 puts, bought yesterday. Chart update: Hey Cougar, Per my posts yesterday and Wednesday, I went short crude over 100.50 and doubled down at 101....

**************** TRADE ALERT **************** I have been stopped out of my long oil position. The calls were good for about 5%. Not too great but better than losing. Wise move, I think, Cletus. I doubled down short at 101.5. With U.S.$ up and supply/demand fundamentals completely out of whack (way...