Cobra's Market View

PAGING SILVER
Scroll down to “Silver the Most Overbought Asset Class” as of yesterday
http://www.bespokeinvest.com/


PAGING COPPER
“China Copper Demand Seen Growing at Slowest Pace in 15 Years” (quickie read)
http://www.bloomberg.com/news/2012-08-3 ... years.html

AMD

upgraded by S&P 1444 days ago (from 2 stars to 3 stars (maximum is 5 stars))
upgraded by Reuters 6 days ago (from negative to neutral)
upgraded by Second Opinion Weekly Report 3 days ago (from avoid to neutral)

not looking good so far so not sure when we'll see rebound which if indeed shall fail.

Unique wrote:Game over bears, time to double on calls

Declining wedge + oversold, that's see how this plays 140.20-140.1, huge bounce, or now?

On your 0.39 buy, what is/was your stop to close trade?

the obvious target is the 08/24 lows.

Watchout below! http://stockcharts.com/public/3828047/c ... /217834305;

volume surge, biggest bar, so might see rebound here.

testing 08/24 lows, key time. I don't think it'd break through.

PAGING GOLD
Follow-up on whale-watch Paulson BAC conference call
To summarize:
1) According to Paulson, investor redemption requests are not unusually high this year. There is decent risk of further Paulson liquidations.
2) His fund is now down to $19.5 billion total, as his results have “slumped.” That number changes depending on the day and the source of the info.
3) He speaks quarterly with BAC/ML whale-management advisors. Tuesday's discussion was an additional/extra call… clients are nervous… red flag …
4) Metals have been on sell signals the last few days. This can change in a hot minute, if traders hear anything inflatable when Ben opens his pie-hole.

More chatter from the call:
http://www.thereformedbroker.com/2012/0 ... lson-call/

If this link doesn’t work, check the last board posts yesterday, by overunder and apple, on how to bypass a subscription block:
http://online.wsj.com/article/SB1000087 ... 79982.html

1390ish? 1385ish? blue trendline.

Unique wrote:Game over bears, time to double on calls

Declining wedge + oversold, that's see how this plays 140.20-140.1, huge bounce, or now?

Nail in the coffin? I think so. Bye bye bears for a few minutes!

PAGING GOLD
Inflation v deflation
“…with central banks so active in so many markets, the danger rises that the prices in those markets will increasingly be determined by the central bank’s actions... there is one clear negative for central banks. The information normally provided to central banks by market movements, information which ought to help in the conduct of monetary policy, will be increasingly absent.… with policies being essentially unprecedented, wholly unexpected implications for central banks … cannot be ruled out…”

Someone posted this link yest, I forget who, thanks, worth re-posting [also interesting comments section at bottom.]
http://ftalphaville.ft.com/blog/2012/08 ... you-think/

fehro SPX at neckline, targets 1370 on SPX

bounce?

Petsamo wrote:I wish the DAX would get it together, either sell off or rally.

Anyone have suggested buy points on BPT ?

.. next stop for the DAX is ~ 6775, a nice bearish gartley formation

fehro try to zoom higher ,, then you see the topping hs pattern with neckline at 1395 SPX

Unique wrote:

Unique wrote:Game over bears, time to double on calls

Declining wedge + oversold, that's see how this plays 140.20-140.1, huge bounce, or now?

Nail in the coffin? I think so. Bye bye bears for a few minutes!

Nailing :O

mac769 wrote:

Petsamo wrote:I wish the DAX would get it together, either sell off or rally.

Anyone have suggested buy points on BPT ?

.. next stop for the DAX is ~ 6775, a nice bearish gartley formation

I wonder if SPY will match the DAX's sell off in percentage

Major wrote:

Unique wrote:Game over bears, time to double on calls

Declining wedge + oversold, that's see how this plays 140.20-140.1, huge bounce, or now?

On your 0.39 buy, what is/was your stop to close trade?

No stop until <140.15 decisively. I mainly do manual stops

He isn't in that coffin yet.