10/17/2013 Live Update

[jack black]

As of late the market has been rallying at gold's expense. Gold just broke out, which probably means the market is about to tank. This likely isn't a BTFD. This is likely going to be a correction IMO.

+1
Well said.
You can also say the same thing about bonds. We had panic selling in bonds and gold and all the money were parked in US stocks. The trade got too crowded and it has to burst. Sell on news may well be a trigger to reverse the stampede.

[Out of Bounds]

morning hourly hollow red.

Fantastic - still short. I am not trading much for the next few days. I am travelling in the Mid-Atlantic. Target order in to take profit if we get the dip I want. Not looking for a huge fall, just want my small share of the pie.

Somewhere around 170.20

GLTA

[gappy]

From http://jessescrossroadscafe.blogspot.co ... 9ricain%29

jesse.PNG

[stlwater]

As of late the market has been rallying at gold's expense. Gold just broke out, which probably means the market is about to tank. This likely isn't a BTFD. This is likely going to be a correction IMO.

+1
Well said.
You can also say the same thing about bonds. We had panic selling in bonds and gold and all the money were parked in US stocks. The trade got too crowded and it has to burst. Sell on news may well be a trigger to reverse the stampede.

Wolfie is patient.

[stlwater]

From http://jessescrossroadscafe.blogspot.co ... 9ricain%29

jesse.PNG

clearly bullish for miners. Miners clearly at long-term support.

[Daniel-David]

IWM pushing again at yest. intraday HI ca 108.60; per Cobra rule of many taps on the door it finally opens, likely to bust thru into clear blue skies.

$RVX is falling rapidly, but some of that will be due to shedding of protective puts, rather than call buying.

[fehro]

filling morning gap SPX 5m

[gappy]

From http://jessescrossroadscafe.blogspot.co ... 9ricain%29

jesse.PNG

clearly bullish for miners. Miners clearly at long-term support.

Maybe, still short but keeping an eye out.

gdx.png

Hope for a breakout, I miss playing with the gold miners.

[uempel]

I'm waiting for more upside, but 1721 might be too difficult to crack: long term ellipse (not shown here) is resistance

[Al_Dente]

Breakout high IWM, TNA

[Mr. T]

They want my valuable gold chains...... I'll sell them some gold colored chains instead.

[Daniel-David]

QQQ having less success w yest. HI than IWM did...

[Mr. T]

QQQ having less success w yest. HI than IWM did...

You can thank IBM and Ebay for that

[stlwater]

I'm waiting for more upside, but 1721 might be too difficult to crack: long term ellipse (not shown here) is resistance

5a.png

Very, very good chance of that.

[Cobra]

members only update at 10:39 am
http://www.cobrasmarketview.com/2013/10 ... ay-update/

[uempel]

Resistance at 1721 is very irritating - we don't know if it's going to be broken or not

[Cobra]

a little pullback then breakout would be prefect.

[L_T]

a little pullback then breakout would be prefect.

Target?

[Al_Dente]

Currency pairs are with bull-spy

[fehro]

SPX 5m morning gap filled