06/08/2012 Live Update

[TraderGirl]

a break thru channel....

[MrMiyagi]

And now..... ladies and gentlemen boys and girls..... it is time for.....

POWER HOUR!!!!!

[KENA]

I did not trade to day my mind was not on the trading path...I may go short Spy puts .Mkt is pushing for a little higher high but may have to accept a lower hi...Mon. open could be interesting.Lets see.

[Mr. BachNut]

Cobra, what is your view on gold? The breakout several days ago is real or not? Thanks!!!

in wait and see mode, still a little bullish biased.

http://stockcharts.com/public/1684859/c ... /124844123;

immediate term watch smack down at 1600 ish

Near term flying for easing and Spanish sentiment this weekend is the lever now

Near to long term 1250 is my target
No easing - legs from this crater - even with printing press and currency completely disentangled from gold (no reality ) gold is not debt and debt rules the world



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I am here: http://tapatalk.com/map.php?e414uc

I am a buyer at 1250.

[Mr. BachNut]

Nice 5 day trend line.
Get's interesting after the break.

[Mr. BachNut]

Forgot the chart.

[Cobra]

well, at least one target met. you don't want to see a little bit bigger pullback here though.

Great calls today, thanks. I was with you all the way on the upside move... I follow your calls on SPY but trading mostly ES - are there any important issues you would recommend to follow?

BTW - I can see the update came just in time for me to exit before the pullback...

I trade ES too, but since most people can only read stock charts, so that's why I only talk SPY here.

To follow me, you have to have your own trading system, you can feel a little more confident when my direction agrees with yours.

Generally, my call here is not supposed to be followed. calling the market is much easier than actual trading.

[Cobra]

good, no big pullback, the bull still have legs. I hope the weekend meeting won't be too disappointed.

[nicha]

Cobra - what do you think about AAPL close? I have some short calls to get out of.

[Cobra]

Cobra - what do you think about AAPL close? I have some short calls to get out of.

important resistances lies ahead. I won't bet it would pass on the very first try but the chart so far is bullish biased.

[agunther]

good, no big pullback, the bull still have legs. I hope the weekend meeting won't be too disappointed.

What meeting is that?

[Cobra]

guys, before the weekend, please offer me some bailout or stimulus package by voting and following me, thanks: http://stockcharts.com/public/1684859/tenpp

[Michelle]

If China has poor economic data this weekend, but Europe does a TARP, does the market go up or down?

[chickencoop]

If China has poor economic data this weekend, but Europe does a TARP, does the market go up or down?

first down then up?

[BullBear52x]

Thanks Cobra and everyone, Have a good weekend.

TA note: patience bears patience, it's no go.

[xfradnex]

What do you make of these?

[Cobra]

still bullish biased.

[rpccharts]

All they did was fill the EOD Gapdown on bonds to do the presidential salute... on no volume - reversal next - Closed TBT long, and shorting TBT at Close

[Michelle]

[Michelle, Marketwatch says 30, but CNBC says 350

http://www.cnbc.com/id/47739332

That's an incredible loss, to be sure. The article says they haven't reported what their losses are yet, so this is probably closer to the truth. We're going to have to bail out the banks again because of their fb losses.

[pezhead9000]

Spy volume with 25mins to go:
today - 104,306,198
yesterday - 184,622,000