Cobra's Market View

Gap up to new high, so normally the gap won't be filled. I'm not sure because as I said last night, NFP day tends to open high go lower, so let's wait and see.

Global ES goes exactly like I planed last night. Whether this is the last push up, depends on bear's luck. Guess bears need pray here again.

My knees hurt from praying so much

I feel like last bear; shot and soon to br dead. Maybe that is good for me?? What about QE3 now??

GOOD MORNING EMPLOYMENT WATCHERS (other than the NFP beat)
Here is a curiousity from yesterday: Kelly Services (KELYA) reported eps beat: 64 cents vs estimate of 42 cents.
Their eps 60% above the same quarter a year ago.
Their conference call (podcast at kellyservices.com) was very upbeat and positive……….
Then yest the stock tanked -17.7%
http://stockcharts.com/h-sc/ui?s=KELYA& ... =256049690

BEARS HAVE TO PRAY A LOT LAST TIMES

/ES and the dollar are spiking at the same time, hmm.

Al, sometimes earnings reports are just:

http://www.youtube.com/watch?v=wJWQc_Dr ... re=related

koolblue wrote:

ES 03-12 (15 Min) 2_3_2012.jpg

Nice. koolblue! We shallsee!

Cobra wrote:Gap up to new high, so normally the gap won't be filled. I'm not sure because as I said last night, NFP day tends to open high go lower, so let's wait and see.

Global ES goes exactly like I planed last night. Whether this is the last push up, depends on bear's luck. Guess bears need pray here again.

Good morning Cobra and All,

Nice shaddow on the oval on the es. Yesterday I followed you on my cell on Twitter. Your comments were so good that I didn't have to hardly load a chart. Thanks again for being there. jimme

QE3 just fell off table, FED Funds pricing 100% rate raise for 2013 (sorry Ben)...the unwind trade will be powerful, i think this gap will be seriously challenged

If SPY will consolidate above 134, the MM notations will shift to a higher octave = bullish!

GMA,
As soon as we see weakness confirmed for SPX, coulb be a good idea to short CL...
My target still the same : 94 area !
GLTA

GLD in a critical time/price zone.
Chart update:

paging AL,

for freestockhcarts...you can customize any of the indicators and then "save" them at which point they will show up under your indicators menu for future use. so for now, it's cut out a few steps for me as i've saved the top 5 moving averages i throw up on every chart so now it's only a 1-2 click process.

let me know if you get what i mean.

cougar wrote:If SPY will consolidate above 134, the MM notations will shift to a higher octave = bullish!

Thanks Cougar, do you think it's a possible blow off top today?

the open.

Looks like an exhaustion gap up.

Add that to NFP statistics of opening high and reverse...and you have your daytrading: sell the gap up.

Theres a probability that a nice correction is coming, since NFP days are also key turning dates, as cobra points out.

For those that have opened short positions like myself...its a great pain...but i would not close right here...i see many bears capitulating, thats what they want to sell the whole thing in your face.

shorted the open, good luck all.

waverider wrote:shorted the open, good luck all.

That is the only choice. lets roll the dice

VIX below 17 ! Something is disconnected or not right ...