Cobra's Market View

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Small gap up within yesterday's range, so the gap might be filled.

Could be 3 Push Up in the forming on the Global ES, so the bias is a little bit on the downside ASSUMING the current rebound cannot make a DECISIVE new high.

members only update starts here: http://www.cobrasmarketview.com/2013/05 ... ay-update/

Short in premarket 167.42 (BOT SDS)

*edit to correct price.

Long MRK Jan 50 calls, MRK Jun 45 calls, and awesomely BMY Jun 42 calls.

Lots of money going into yield/defensive MRK and BMY the last couple of days.

3rd test of the high, bulls have better chance to break to new high.

breakout as expected.

WOW. Should have waited for Cobra to post

Looking for a bit of a pullback to close shorts at loss.

$USD dropping hard against Yen and Euro

wow, Helicopter must have said that he'd keep buying everything.

Out of Bounds wrote:WOW. Should have waited for Cobra to post

Looking for a bit of a pullback to close shorts at loss.

Wow. Hope you get that pullback soon. I was stuck in a meeting and couldn't get logged in time to capture the up move. Man this market is really one-sided.

Cobra wrote:wow, Helicopter must have said that he'd keep buying everything.

AP
Chairman Ben Bernanke is telling Congress that the U.S. job market remains weak and that it is too soon for the Federal Reserve to end its extraordinary stimulus programs.

http://finance.yahoo.com/

Cobra wrote:wow, Helicopter must have said that he'd keep buying everything.

Holy cow !!

anyone seeing if that's a valid inside day break to the upside on GLD?

Speaking basic psychological levels IWM (Russell 2000) is now at $100. Smallies en fuego!

Dollar is now reversing. I never trade currencies; I can never figure out the patterns.

Had to hold my nose and buy that wee pull back on ES. And I am out.

volume surge, might see pullback here first but this bull shall have legs.

•BERNANKE: PREMATURE TIGHTENING RISKS SLOWING OR ENDING RECOVERY
•BERNANKE REPEATS POLICY TO STAY ACCOMMODATIVE AS LONG AS NEEDED
•BERNANKE SAYS MONETARY POLICY PROVIDING SIGNIFICANT BENEFITS
•BERNANKE SAYS POLICY CAN'T FULLY OFFSET FISCAL DRAG ON ECONOMY
•BERNANKE: HIGH RATES OF UNEMPLOYMENT `EXTRAORDINARILY COSTLY'

VIX holding well, not collapse. interesting.