Cobra's Market View

Small gap up within yesterday's range plus most gaps the day after a Major Distribution Day got filled (Well, I know this gap fill thing failed 3 times in a row recently), so chances are the gap will be filled.

FOMC announcement at 2:15pm ET. I don't expect much rollor coaster show this time. What can FED say? Economy is not bad but have risk, we'll do whatever we can (to print money and give them to our bank buddies so that they can have huge year end bonus and you must work hard and borrow money from them and most importantly pay interest to them and only in this way the economy could go better and better, you must borrow, understood? Because nowadays the economy is based on debt, you have to borrow more debt to get you out of the debt, understood?)

The Global ES is testing the resistance so we'll have to wait and see, kind of key time now.
Euro is testing the previous low so again key time.

Morning laoda, I've noticed the Russell is surprisingly strong lately.

Hi Cobra, is there a "members only" area on your website at the moment?

noob wrote:Morning laoda, I've noticed the Russell is surprisingly strong lately.

This time of the year, Russell 2000 is always strong, that's right.

Good Morning.

Gee honey. What's this about the UK?

http://99ercharts.blogspot.com/2011/12/merkozy.html

They're pissed.

BTW, why do we need loan at all? Just to keep the banks alive?

gabor wrote:Hi Cobra, is there a "members only" area on your website at the moment?

No, you'll see the test page once I posted, I'll name it as "test". Now I still have some guys who paid but didn't register (really nice to me ) so I need help them to register first. They'll know they need register anyway once the test page comes out and they find out that they cannot see them.

So is Europe still a good place to visit?

EURUSD http://99ercharts.blogspot.com/2011/12/eurusd_13.html

Getting better all the time.

gabor wrote:BTW, why do we need loan at all? Just to keep the banks alive?

that's how fed works, keep interest low so to encourage borrowing. You have to "borrow" out of recession.

So how about breakfast?

ES http://99ercharts.blogspot.com/2011/12/es_13.html

Here's some toast.

Cobra wrote:

gabor wrote:BTW, why do we need loan at all? Just to keep the banks alive?

that's how fed works, keep interest low so to encourage to borrow. You have to "borrow" out of recession.

US is not even in a recession, officially.

GM
My indicators on daily chart.

GM, /ES is crappy, weaker than I thought waiting for first Neg D. will sell into, if not roll down it's sideways at best. guessing!

the open.

Cobra wrote:Small gap up within yesterday's range plus most gaps the day after a Major Distribution Day got filled (Well, I know this gap fill thing failed 3 times in a row recently), so chances are the gap will be filled.

FOMC announcement at 2:15pm ET. I don't expect much rollor coaster show this time. What can FED say? Economy is not bad but have risk, we'll do whatever we can (to print money and give them to our bank buddies so that they can have huge year end bonus and you must work hard and borrow money from them and most importantly pay interest to them and only in this way the economy could go better and better, you must borrow, understood? Because nowadays the economy is based on debt, you have to borrow more debt to get you out of the debt, understood?)

The Global ES is testing the resistance so we'll have to wait and see, kind of key time now.

1.png

Euro is testing the previous low so again key time.

2.png

filling small opening gaps isn't a forte of the markets these days. -_-

things are looking really similar to last friday.

the VIX is scarily weak. gapped under the 200 daily SMA.

Sold the $TNA from yesterday here from 43.20 to 45.75. Wait and see, what happens here.. will buy the dip.

Sold long and went short $125.18.

thank you god. i love you forever.
knock on wood.

bonds are looking very weak....

wow did we really just break out of that channel.