Cobra's Market View

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Small gap up above yesterday's high so not sure if the gap will be filled. Usually the day after a strong up day tends to be a small range consolidation day. Also in most cases, the gap (up or down) after a Major Accumulation Day (yesterday) would be filled on the same day.

I don't see anything wrong on Global ES. The push up we had since yesterday was strong, so generally the very first dip would be bought. Let's see.

Guaranteed QE3... Wheeee!

PAGING OIL and gasoline prices

“…the White House considers the merits of another release of emergency oil reserves [SPR] … one proposal … is a much larger… release -- perhaps 100 million to 180 million barrels. Last year, as civil war in Libya cut the country's oil exports, the … administration … [sold] 60 million barrels of oil, a move that lowered oil prices but only for a few weeks…A much more dramatic measure could put a bigger dent in oil prices, easing gasoline costs …”

http://finance.yahoo.com/news/white-hou ... 2.html?l=1

DAX broke Bull Flag and hit new recovery high.

Gold, Silver and Mining stock shot WAY UP on the employment news..

“China unleashes $158B infrastructure spend”
http://edition.cnn.com/2012/09/07/busin ... structure/

the open.

note TLT

IWM can't seem to find the up button

Al_Dente wrote:note TLT

Any idea why? Shouldn't it be down on the China news?

ClarkW wrote:

Al_Dente wrote:note TLT

Any idea why? Shouldn't it be down on the China news?

I don’t know, maybe the:
“…QE bandwagon…”
http://www.bloomberg.com/news/2012-09-0 ... n-fed.html

ClarkW wrote:

Al_Dente wrote:note TLT

Any idea why? Shouldn't it be down on the China news?

nope. bad jobs = QE back on the table. QE = bond buying. bonds go up.

breakout gap sqz BAC

rc1269 wrote:

ClarkW wrote:

Al_Dente wrote:note TLT

Any idea why? Shouldn't it be down on the China news?

nope. bad jobs = QE back on the table. QE = bond buying. bonds go up.

Thanks

For LT only:
For AL: Guy who likes the Upside Down view.
Time Frame Daily:
Shows Good traction of major trend since 1999.
Was good between 1986-1995, exited before 1987 crash.
Did poorly between 1995-1998.

RELATIVE STRENGTH is in red
Note QQQ relative weakness (???)

VIXIES Update:
What do you expect after yesterday's run up?
All in Bullish camp
Ditto for Momentum BLOCK

Cobra wrote:DAX broke Bull Flag and hit new recovery high.

new extreme, potential for reversal?

10 day % performance

Harapa wrote:For LT only:
For AL: Guy who likes the Upside Down view.
Time Frame Daily:
Shows Good traction of major trend since 1999.
Was good between 1986-1995, exited before 1987 crash.
Did poorly between 1995-1998.

THANKS BOSS