Cobra's Market View

Gap up above yesterday's high so chances are the gap won't be filled.

It could be the 3rd push up on the global ES, so maybe it'd take a breath here?

Good morn Cobra, author of another brilliant overnight report…. and gm boardies:

“Amazon setting up first ‘fulfillment center’ in India”
http://www.reuters.com/article/2012/01/ ... 4Z20120120


“David Einhorn, one of the world's highest profile hedge fund managers, and his firm, Greenlight Capital, have been fined 7.2 million pounds ($11.22 million) by UK regulators for trading before a 2009 equity fundraising …“
Financial Times - Jan 26…..9:03 pm ET 01/25/2012 - Reuters http://link.reuters.com/pyd36s

Good morning!

The “market engineers” of Obama will probably watch the road to success that Bush followed in 2004, and try to do the same in 2012: UP_DOWN_UP into election.

We should watch the projections of the bow-tie knots and the MM scale, on this weekly chart, built a long time before I joined this blog, and showed here many times.

GLD will meet the green ellipse soon.

PAGING COPPER and FCX

“Freeport Indonesia loads two ships at Papua port”
7:05 am ET 01/26/2012 – Reuters…Timika, Indonesia
FCX “is loading two ships at its Indonesian port, sources said … in a fresh sign that work at the world's second largest copper mine is returning to normal after a three-month strike. The two ships, with a capacity of 66,000 tonnes, were destined for India and Japan, but their contents and exact volume were unknown…[FCX]… has had a force majeure in place since last October on some concentrate exports from its huge Grasberg copper and gold mine in Papua, after workers went on strike for better pay. The strike ended on Dec. 14 with a deal over a pay increase, allowing workers to gradually return to work, but the force majeure has yet to be officially lifted.….”

[note FCX gap in pre-mkt, and copper futures up…]

If the MM scale will switch to a higher series of notations, the next target of SPY should be in the 134 zone.

Hello
What do you think about this prediction?
http://www.businessinsider.com/notoriou ... z1kOIPdEhj

Al_Dente wrote:Good morn Cobra, author of another brilliant overnight report…. and gm boardies:

“Amazon setting up first ‘fulfillment center’ in India”
http://www.reuters.com/article/2012/01/ ... 4Z20120120


“David Einhorn, one of the world's highest profile hedge fund managers, and his firm, Greenlight Capital, have been fined 7.2 million pounds ($11.22 million) by UK regulators for trading before a 2009 equity fundraising …“
Financial Times - Jan 26…..9:03 pm ET 01/25/2012 - Reuters http://link.reuters.com/pyd36s

don't say that. the signals simply don't work, I don't know if this kind of situation goes on, what I should do to my report.

Wow...I will be looking at closing out the remaining long positions I have today. Seems overcooked. I am guessing we fill the gap which may provide fresh buying.

the open. C&H target reached.

don't forget ChiOsc.

cougar wrote:If the MM scale will switch to a higher series of notations, the next target of SPY should be in the 134 zone.

that CRR strangle worked out. closed the puts at +14k.

holding the calls naked for now which lost 6.5k.

net so far is +7.5k on that trade. not bad for a strangle.

Cobra wrote:don't forget ChiOsc.

Can you imagine teh beatdown the bears would have taken on a gap if the metrics were inverse. Small counter trade opened for gap fade.

We hit 12800 finally, and now we see some weakness....

Little bear opened short position $133.05 in early hours.

Update SPX:

AAPL just went negative...

Cobra wrote:

Al_Dente wrote:Good morn Cobra, author of another brilliant overnight report…. and gm boardies: ...

don't say that. the signals simply don't work, I don't know if this kind of situation goes on, what I should do to my report.

Just keep going, persevere, I’d cut/paste your “gems” from last night, but boardies must read for themselves on your subscription page….

Just one little edited example: “…don’t front run because I see ……... chart pattern…”
I could go on and on and on….

Just FYI: I am having a decent month following yr portfolios…
[eidt: i've been cheating a little bit....]

Still watching the PosD on the VIX... we are just about to touch the ascending line on the RSI, so key time is approaching here.

If we make a lower low on the VIX, and at the same time break through the ascending RSI and also make a lower low on the RSI, then it will be time to close positions and wait for a better setup.

IMO, we will bounce of the RSI ascending line and keep the PosD intact, and continue to build even more energy for the eventual resolution.

jarbo456 wrote:

cougar wrote:If the MM scale will switch to a higher series of notations, the next target of SPY should be in the 134 zone.

that CRR strangle worked out. closed the puts at +14k.

holding the calls naked for now which lost 6.5k.

net so far is +7.5k on that trade. not bad for a strangle.

Wow very nice for a strangle. Price moved big time which helped you out a lot. Looks like things are moving in favor of your calls at this moment as well. Nice going.

Would you mind listing exactly how you constructed the position? I'm curious. Thanks.