Cobra's Market View

MrMiyagi wrote:I guess it was to the downside TraderGirl!

Mr M the pullback should almost be complete 33.33 then I would start looking for a long entry maybe double bottom for the 5 wave 37-38ishI

Price doesn't have to go far below the bear flag to be considered complete...so far this bear flag has resolved to the downside on SLV...I can count 5 waves down.....whether wave 5 is complete is unknown, so it is very possible we could see SLV bounce to the upside soon...

/DX could be setting up for a bounce to the upside...looking like a bull flag at the moment...a bounce in the dollar with neg d would give a signal to get out of SLV shorts IMHO....

But if this in fact and impulse wave to the downside, I am assuming it will at least see another leg down after a bounce...??

Re: 10/12/2012 Live Update
by TraderGirl » Fri Oct 12, 2012 11:48 am

With all due respect to "Pretzel", I am not sure if his EW counts are correct...it doesn't allow for another low next week, so I have a couple of counts as possibilities...I think that instead of impulsing down, I believe we could be in a double zig zag...??

I am assuming we get new highs somewhere around January before we head down for good...

Edit: One chart give an impulse (5 wave structure) and one give a corrective zig zag structure...I am voting for zig zag...but we will see....

Thanks TG! What do you make of the positive divergences on you indicators? I expect the typical pre-OPEX bounce, but am in cash until we see a tested bottom.

TraderGirl wrote:Price doesn't have to go far below the bear flag to be considered complete...so far this bear flag has resolved to the downside on SLV...I can count 5 waves down.....whether wave 5 is complete is unknown, so it is very possible we could see SLV bounce to the upside soon...

/DX could be setting up for a bounce to the upside...looking like a bull flag at the moment...a bounce in the dollar with neg d would give a signal to get out of SLV shorts IMHO....

But if this in fact and impulse wave to the downside, I am assuming it will at least see another leg down after a bounce...??

Silver is gamed by cartels including London, US govt thru JPM and GS, China and Russia, all above TA's paygrade for accountability. Safer to trade it stick by stick 24 hours across the markets. Got HFT's?

PLUNGE wrote:Re: 10/12/2012 Live Update
by TraderGirl » Fri Oct 12, 2012 11:48 am

With all due respect to "Pretzel", I am not sure if his EW counts are correct...it doesn't allow for another low next week, so I have a couple of counts as possibilities...I think that instead of impulsing down, I believe we could be in a double zig zag...??

I am assuming we get new highs somewhere around January before we head down for good...

Edit: One chart give an impulse (5 wave structure) and one give a corrective zig zag structure...I am voting for zig zag...but we will see....

Thanks TG! What do you make of the positive divergences on you indicators? I expect the typical pre-OPEX bounce, but am in cash until we see a tested bottom.

Could be setting up for a move up, it's been typical for SPX to bottom before Dow, so we could see a low in SPX on Monday, then bounce and on Tues, Dow gets a lower low and SPX gets a higher low...??? Depends on financials for the SPX....

TraderGirl wrote:With all due respect to "Pretzel", I am not sure if his EW counts are correct...it doesn't allow for another low next week, so I have a couple of counts as possibilities...I think that instead of impulsing down, I believe we could be in a double zig zag...??

I am assuming we get new highs somewhere around January before we head down for good...

Edit: One chart give an impulse (5 wave structure) and one give a corrective zig zag structure...I am voting for zig zag...but we will see....

why are you assuming:
" we get new highs somewhere around January before we head down for good."?

Thanks

I loved all of the TA on gold & silver that was just posted on the forum. It was very enjoyable reading all of it.
I want to thank each of you for taking the time to post and sharing your information.
I am also a holder of both physical metals and options that I turn often.

Thanks again to all who shared!!

gap up wrote:Safer to trade it stick by stick 24 hours across the markets. Got HFT's?

I got one of these; is it HFT enough?

KeiZai wrote: yeah but not now look at this mess I don´t know how to trade it (except the falling wedge)
Thanks amigo where is btw our BOSS?

Yup what a mess

Here’s my take on XIV: http://www.youtube.com/watch?v=XSCJJkFg ... re=related

BOSSman is AWOL

mini target reached. now key time.

Anyone notice that IYR (real estate) seems to have turned bearish ?
It's most visible if you compare its performance with IWM

MrMiyagi wrote:

gap up wrote:Safer to trade it stick by stick 24 hours across the markets. Got HFT's?

I got one of these; is it HFT enough?

This one!

this rebound may have legs. wait. then I'll see if there's another leg down today.

Cobra wrote:this rebound may have legs. wait. then I'll see if there's another leg down today.

Is that a double bottom I see?

1440? max pain is 145 right?

MrMiyagi wrote:

iyr.png

Reminds me, we still have a p-bar down to $140.70 from Monday, right? Also one up to $146.81 from Tuesday?

You know it! Going to 1500?

MrMiyagi wrote:

Cobra wrote:this rebound may have legs. wait. then I'll see if there's another leg down today.

Is that a double bottom I see?

Al_Dente wrote:

KeiZai wrote: yeah but not now look at this mess I don´t know how to trade it (except the falling wedge)
Thanks amigo where is btw our BOSS?

Yup what a mess

Here’s my take on XIV: http://www.youtube.com/watch?v=XSCJJkFg ... re=related

BOSSman is AWOL

I hope everything is OK with him and his family I don´t like AWOL´s he always says where he go