Cobra's Market View

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Flat open so any gap will be filled.

The Global ES looks like forming another Bear Flag, so the bias is still down. I think the fib 61.8% Measured Move target at 1296.08 is possible. Again, it's pre-market wild guess so I reserve the right to change the idea at any time

GM to all,
As I have stated in the past, I keep an eye on steel. Here is my latest find;

Chinese Steel Mill Profits Plunge Nearly 50%

Despite the fact that the Chinese government is approving more investments in hope that it could reflate the economy, many including ourselves are not hugely impressed, particularly as the country has already been over-investing.

The latest data from the National Development and Reform Commission (via Nomura) suggests that steel mills’ profits have plunged by 49.5% in January to April this year compared to the same period last year:

Further, the CEIC database showed that total profits of large and medium enterprises in Jan-Apr 2012 plunged by 97% y-y from CNY32.98bn to CNY1.15bn. Profits in April reached CNY2.18bn, up 23% m-m, yet down 74% y-y.

TraderJoe wrote:Chinese Steel Mill Profits Plunge Nearly 50%

Steel is very oversold. You should evaluate very carefully about shorting at these oversold levels.

the open.

My Russia (RSX) was begging for me to sell it, so I sold it.

TraderJoe wrote:GM to all,
As I have stated in the past, I keep an eye on steel. Here is my latest find;

Chinese Steel Mill Profits Plunge Nearly 50%

Despite the fact that the Chinese government is approving more investments in hope that it could reflate the economy, many including ourselves are not hugely impressed, particularly as the country has already been over-investing.

The latest data from the National Development and Reform Commission (via Nomura) suggests that steel mills’ profits have plunged by 49.5% in January to April this year compared to the same period last year:

Further, the CEIC database showed that total profits of large and medium enterprises in Jan-Apr 2012 plunged by 97% y-y from CNY32.98bn to CNY1.15bn. Profits in April reached CNY2.18bn, up 23% m-m, yet down 74% y-y.

Thanks TraderJoe! Another great thing about this board, hearing thoughts on a subject one's not familiar with from someone who's very much focused on it. Thanks for sharing!

Good Morning!
I would like to thank for private messages like “Are you coming back?…We missed your posts” which I got yesterday.

However, I got another private message entitled ‘Just so we are clear’ from SWalsh.
I will reveal it unaltered…for everyone’s appreciation. It goes like this:

“Cougar wrote publicly in: Paging KeiZai!:
<<Sorry for the delayed answer…Last night, while I was checking the weekend posts, I stumbled over an offensive exchange of hatred that Cobra also noticed …and I decided to stay away from this environment…I got out without publishing a series of charts and discussions which I posted on Twitter instead…in an abbreviated form.>>


A true uber-scumbag to post that message.

Yeah...sure...okay....let's cut the gratuitous, sanctimonious crap that you are offended by such speech. I didn't start this problem, but I sure will settle it. So take it up with the other guy, coward that he/she is. I wouldn't be surprised if you registered that name and slammed me. But then again, you have demonstrated that you do not know how to properly parse a sentence, so it's unlikely you could do both.

Don't quit your day job. One of us is a professional...care to guess who?

BTW, Sherlock, listen and learn a few things. Cobra knew almost 24 hours ahead of time about that individual who pulled that stunt, knew his IP address, and told me not to worry. But since the address wasn't blocked it must be one of the regular knuckleheads who threatened me. And leaving that post up from "walsh_slayer" was a very dishonorable thing to do. You don't see me registering a name like "cougar_killer". And you don't see me falsely claiming that I read something and my panties were so in a knot so I decided to "deprive" the board for what I had read. I hate the stench of lies. There are a few nice people I have met here who I speak to privately. Then there are are a few wannabe professionals (hint) who think a chart makes a trader. Keep working on that perfect analysis - it's why professionals make the money we do. You think you helped the board today with your bullshit comment? Think again.’’

No comments!

GM

I don´t know why but I have a feeling today will be UP DAY waiting for good entry to go long

EDIT: LOL nice move but still waiting for entry, actually I am waiting for breakout in russell

cougar wrote:Good Morning!
I would like to thank for private messages like “Are you coming back?…We missed your posts” which I got yesterday.

However, I got another private message entitled ‘Just so we are clear’ from SWalsh.
I will reveal it unaltered…for everyone’s appreciation. It goes like this:

“Cougar wrote publicly in: Paging KeiZai!:
<<Sorry for the delayed answer…Last night, while I was checking the weekend posts, I stumbled over an offensive exchange of hatred that Cobra also noticed …and I decided to stay away from this environment…I got out without publishing a series of charts and discussions which I posted on Twitter instead…in an abbreviated form.>>


A true uber-scumbag to post that message.

Yeah...sure...okay....let's cut the gratuitous, sanctimonious crap that you are offended by such speech. I didn't start this problem, but I sure will settle it. So take it up with the other guy, coward that he/she is. I wouldn't be surprised if you registered that name and slammed me. But then again, you have demonstrated that you do not know how to properly parse a sentence, so it's unlikely you could do both.

Don't quit your day job. One of us is a professional...care to guess who?

BTW, Sherlock, listen and learn a few things. Cobra knew almost 24 hours ahead of time about that individual who pulled that stunt, knew his IP address, and told me not to worry. But since the address wasn't blocked it must be one of the regular knuckleheads who threatened me. And leaving that post up from "walsh_slayer" was a very dishonorable thing to do. You don't see me registering a name like "cougar_killer". And you don't see me falsely claiming that I read something and my panties were so in a knot so I decided to "deprive" the board for what I had read. I hate the stench of lies. There are a few nice people I have met here who I speak to privately. Then there are are a few wannabe professionals (hint) who think a chart makes a trader. Keep working on that perfect analysis - it's why professionals make the money we do. You think you helped the board today with your bullshit comment? Think again.’’

No comments!

I know it's hard but I HOPE you try your hardest to block out this crap! As you know, I big fan of yours, following you on Twitter and here. Don't let others bring you down. Keep up the amazing work! Your charts and work are very unique and greatly appreciated! Thanks!

My god, so much drama lately on this board. Let's make some moola people.

bought TNA AH and sold at open for a small profit and now it took off. Thank god I bought some IWM weekly call to compensate for the loss. Should be up 200% by the end of today. haha, dreaming.

agree with CLARKW..!!!!

Addon to previous post...or breakout in dax

my projected range is 1306-1313. the upper side works for now. let's see if i shd go long if es goes to 1306

Not a recommendation, not placing trades myself because of this. Just can't help but look at XLE 60 min chart and how, visually, it looks very similar to action beginning of June....

Lets do trading..I'm doing some but nothing with big positions.

Whoever that slayer is, it's not Cougar, because the ip address is different. blaming cougar without evidence is not appropriate.

If you guys have opinions about someone's posts here, please PM me. I don't have time to check each post so I honestly don't know what is going on here. But if you keep me informed, especially all are against certain ids, I'll sure do something. Thanks.

cougar wrote:Good Morning!
I would like to thank for private messages like “Are you coming back?…We missed your posts” which I got yesterday.

However, I got another private message entitled ‘Just so we are clear’ from SWalsh.
I will reveal it unaltered…for everyone’s appreciation. It goes like this:

“Cougar wrote publicly in: Paging KeiZai!:
<<Sorry for the delayed answer…Last night, while I was checking the weekend posts, I stumbled over an offensive exchange of hatred that Cobra also noticed …and I decided to stay away from this environment…I got out without publishing a series of charts and discussions which I posted on Twitter instead…in an abbreviated form.>>


A true uber-scumbag to post that message.

Yeah...sure...okay....let's cut the gratuitous, sanctimonious crap that you are offended by such speech. I didn't start this problem, but I sure will settle it. So take it up with the other guy, coward that he/she is. I wouldn't be surprised if you registered that name and slammed me. But then again, you have demonstrated that you do not know how to properly parse a sentence, so it's unlikely you could do both.

Don't quit your day job. One of us is a professional...care to guess who?

BTW, Sherlock, listen and learn a few things. Cobra knew almost 24 hours ahead of time about that individual who pulled that stunt, knew his IP address, and told me not to worry. But since the address wasn't blocked it must be one of the regular knuckleheads who threatened me. And leaving that post up from "walsh_slayer" was a very dishonorable thing to do. You don't see me registering a name like "cougar_killer". And you don't see me falsely claiming that I read something and my panties were so in a knot so I decided to "deprive" the board for what I had read. I hate the stench of lies. There are a few nice people I have met here who I speak to privately. Then there are are a few wannabe professionals (hint) who think a chart makes a trader. Keep working on that perfect analysis - it's why professionals make the money we do. You think you helped the board today with your bullshit comment? Think again.’’

No comments!

Petsamo wrote:My Russia (RSX) was begging for me to sell it, so I sold it.

Could you recommend someone to read about russian market?

If I am right dollar is in rising wedge so we can see one more weakness in stocks and then we will see good tactical opportunity to buy

down channel at 16 now and dropping

KENA wrote:Lets do trading..I'm doing some but nothing with big positions.

i tend to think there might be an uptrend brewing, but i don't want to get in now. let's talk about trading.

to be a professional trader, one need to control himself in a good way. trading is a very stressful job. anger, eager, tension, anxiety, regrets, all hurt performance.

consumer conf slightly miss. interesting.