Cobra's Market View

ascending triangle breakout as expected.

ascending triangle text book target.

Now the Russell, which has been strong all day, has run out of steam. Very confusing day.

SPX open gap from Jan 7 1985-1988, VIX new LOD again.. yet NDX still red, VXX flat

MrMiyagi wrote:Ah come on Mr Market, just drop a good chunk so that we can stop guessing....

Miyagi, a present for you Might be too early to open now. Next Tuesday?

What if it is really this?

Out of Bounds wrote:Now the Russell, which has been strong all day, has run out of steam. Very confusing day.

JNK down today. probably that is why.

i guess there's some room ...bears can only wait, bulls in no hurry to leave!

Building a base. First breakout attempt.

uempel wrote:Miyagi, a present for you Might be too early to open now. Next Tuesday?

Sounds like it's headed that way Uempel...

Breakout failed either way you look at it.

Fail. Not a surprise.

SPX tight range… break orange.. then may have sharp move.. seems doubtful so late in the day. .. probably gap it tomorrow

I just read that NY Times article. It was pretty straightforward really. We are the silver ball of little fish being herded by killer whales and dolphins. Occasionally sea bids dive in as well. What it didn't say was what will happen to all those HFT killer whales when they have eaten all of us.

Only thing that makes sense of this market for me is using Goldman and BofA ML stories of record high buyback activity going into the end of the quarter while all major investor classes continue to lighten up their equity exposure. Given that we are moving into the eighth consecutive quarter of falling GAAP earnings (as opposed to the "we just make stuff up" Valient Phara kind) Central Bankers better do something fast to make the Hedge funds come back before Tim Cook goes through his 16 Billion of buyback cash.

It won't fail this time

Trades with cats wrote:I just read that NY Times article. It was pretty straightforward really. We are the silver ball of little fish being herded by killer whales and dolphins. Occasionally sea bids dive in as well. What it didn't say was what will happen to all those HFT killer whales when they have eaten all of us.

They land up eating themselves. see Knight Capital (RIP).

Chesapeake Founder Aubrey McClendon Dies In Car Crash One Day After Federal Indictment

"Just one day after the DOJ unveiled its had indicted Chesapeake Founder and former CEO Aubrey McClendon on federal charges of conspiring to rig bids for oil and natural gas leases, moments ago the Oklahoma Police announced that he was found dead in a car accident, when while traveling in a 2013 Chevy Tahoe at a high rate of speed he crashed while driving on a two-lane highway and was engulfed in flames."