AmenRa's Corner

A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.



Let the rematch begin anew...



Creditcane™: 2010 was the worst hangover in a long time. 2011 needs to have the cure.



SPX
Doji day. Midpoint above EMA(10). Still above all SMA's. No daily 3LB changes (reversal is 1247.08). QE2infinity.




DXY
Bearish long day (morning star went supernova). Midpoint below EMA(10). Almost tested the 23.6% retrace (78.72). Now below SMA(89). New low on daily 3LB (reversal is 80.83).



VIX
Spinning top day. Midpoint above EMA(10). Still below all SMA's. Daily 3LB reversal up (reversal is 15.45). May look to escape the "no fear" zone. Avoided a monthly 3LB reversal.



GOLD
Bullish long day. Still above SMA(21). Midpoint above EMA(10). 0.0% retrace holding. Still above 14.6% retrace (1392.69). New high on daily 3LB (reversal is 1340.30). Must have the precious.



EURUSD
Bullish short day. Midpoint above EMA(10). Back above its 38.2% retrace at 1.3121. Back above SMA(21) and SMA(144). No daily 3LB changes (reversal is 1.3001). Closed above weekly 3LB reversal price.



JNK
Spinning top day. Midpoint below EMA(10). Failing the Gann 4x1. Below all SMA's except 144 & 233. No daily 3LB changes (reversal is 40.47).



10YR YIELD
Spinning top day (confirmation of bearish harami even though the long day was a lower close?). The 0.0% fibo retrace at 35.66 has held. Above all SMA's. Back below its 14.6% retrace (33.86). Midpoint below EMA(10). No daily 3LB changes (reversal is 32.36).



CRB
Bullish long day. Midpoint above EMA(10). Above all SMA's. Made a new 0.0% retrace. New high on daily 3LB (reversal is 328.11). Back above trendline of current move.



IQI
Bullish LONG day. Midpoint above EMA(10). Back above SMA(21). Shot above its 38.2% retrace (12.20). New high on daily 3LB (reversal is 11.52).



XLF
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Still above its 14.6% retrace (15.81). No daily 3LB changes (reversal is 15.81). Closed above its monthly 3LB reversal price.



WTI
Bullish long day. Above all SMA's. Midpoint above EMA(10). Closed above the 85.4% retrace at 90.99. No daily 3LB changes (reversal is 89.75).



Morning Audibles 12.31.10

On this "last day" of 2010... Many people The one half witted person on the planet, me, who happens to be eyeing capital markets this week must be wondering why what looked to be the start of a rollover, or early move to the exits yesterday suddenly escaped the butchers knife...

Through extensive research, CV has found the culprit!



"DANVILLE — A 900-pound bull being transported to slaughter escaped Wednesday morning and led his owner and authorities on a two-mile, hour-long chase through two townships.

Wayne Myers, of Bald Top, Montour County, was en route to the butcher with the raging 2-year-old bull when he stopped at a red light near the Danville Middle School on Route 11.

Then the 900-pound animal made a break for it, he said."

That should just about do it, for me, as to what "answers" I might be able to provide for 2010... So as we flip the calendar to 2011... You'll have to ask yourself one simple question... "Do you continue to want the truth?"...


Can you handle it?

The following might be a "short list" of some of the "truths" we need to face in the coming year...

Ezra Klein... Constitution has no binding power on anything because it's 100 years old



And, of course, there doesn't seem to be a shortage of mesmerized zombies (vis-a-vis the Kucher-Moore video from yesterdays thread who would agree with Ezra Klein, and are happy to start their own blogs to spread the word - I found a few here)...


Their version of that raggedy old document, The Constitution, just doesn't fit their lifestyle... So theirs goes something like this... (ht/bigjournalism)

Preamble:


We the People of the United States progressive-minded citizens of the North American Province of the United Nations, in Order to form a more perfect Union obtain a far groovier chakra, establish & legislate SocialJustice, get righteous with Mother Earth, insure domestic Tranquilitypartnerships of any nature, the "gayer" the better, provide for the common defencepromotion of peace, free love and a total lack of responsibility, promote the general creation of the Welfare State, and secure the Blessings of Liberty some boss doobage to for ourselves and our Posterity, do ordain and establish this Constitution for the United States of America North American Province of the United Nations.

Article I


Section 1

All legislative Powers herein granted shall be vested in a Congress of the United States, which shall consist of a Senate and House of Representatives and shall be subjugated to the will of the United Nations.

Section 2

Clause 1: The House of Representatives shall be composed of Members chosen every second Year by the People of the several blue States …

Clause 2: No Person shall be a Representative who shall not have attained to the Age of twenty five Years, and been seven Years a Citizen of the United States, and who shall not, when elected, be an Inhabitant of that State in which he shall be chosen approval of the Democrat Party (which has transferred its allegiance to the communist party).

Clause 3: Representatives and direct Taxes shall be apportioned among the several States which may be included within this Union, according to their respective Numbers collected in mass quantities from the rich, which shall be determined to be anyone who makes more than $10,000.00 per year…

Clause 4: When vacancies happen in the Representation from any State, the Executive Authority thereof shall issue Writs of Election to media shall fill such Vacancies... Dissenting opinions will be banned from commenting on blogs, and the Internet shall be censored...

---

Hey... Let the censorship & police state party begin!

Internet Groups fear UN Could Threaten Cyberspace

Excerpt:
"Technocrats like Holland have also been hinting at a specific threat: that the UN could become a forum where authoritarian governments who are riled by the free flow of information work to put the breaks on its superhighway."

---

No Refusal Checkpoints


EXCERPT:
(Says the vigilant Mother Hen)
"I think it's a great deterrent for people," said Linda Unfried, from Mother's Against Drunk Driving in Hillsborough County.

Florida is among several states now holding what are called "no refusal" checkpoints.

It means if you refuse a breath test during a traffic stop, a judge is on site, and issues a warrant that allows police to perform a mandatory blood test.

It's already being done in several counties, and now Unfried is working to bring it to the Tampa Bay area.

"I think you'll see the difference because people will not drink and drive. I truly believe that," she said.

Not everyone is on board, though.

DUI defense attorney Kevin Hayslett sees the mandatory blood test as a violation of constitutional rights.

"It's a slippery slope and it's got to stop somewhere," Hayslett explained, "what other misdemeanor offense do we have in the United States where the government can forcefully put a needle into your arm?"

---

While CV is certainly not siding with drunk drivers, CV also believes that one should NEVER trade FREEDOM for SAFETY... Pigs are nice and safe and happy in their pens... That is, while they are in the process of being fattened up for slaughter...

Speaking of happy "pegs"... (and UNHAPPY ones as the case may be - let's start with the UNHAPPY ones first)... Well - I think Peggy Joseph, at least, started out happy...


But as Maggie Thatcher said... "The problem with socialism is that eventually to run out of other peoples money to spend..."

Cuba Slashes State-Subsidised Soap

HAVANA (AP) - The cost of cleanliness will rise in Cuba after its cash-strapped, communist government announced Wednesday that soap, toothpaste and detergent will be slashed from monthly ration books.


Cuba's official Gazette said that effective Jan. 1, "personal cleanliness products" will join a growing list of products cut from the ration books that islanders have come to rely on for a small but steady supply of basic goods.

Maybe they could borrow a few bars from Gitmo (as that place still seems to be fully operational)...

OK OK... So Peggy Joseph never said anything about Obama paying for her soap... But she was happy about Obama paying for her gas... I can see why...

Five Dollars per Gallon of Gas by 2012!

 



EXCERPT:
"Five dollars per gallon of gas by 2012! A former president of Shell Oil considers this likely. The average price on Christmas Day for a gallon of regular gas reached $3.28 in Los Angeles County, the highest price since October 2008. In one month, the price rose 13 cents, up 35 cents year to year.


Where are the calls to sic Obama's Justice Department on Big Oil to hold the oil companies accountable for "market manipulation"? Why aren't we hunting down the amoral "oil speculators" responsible for repealing the law of supply-and-demand in order to line their pockets?


During President George W. Bush's administration, we constantly heard demands to hold the President accountable for "Big Oil's price gouging." House Speaker Nancy Pelosi, D-Calif., just two years ago, knew exactly whom to blame for "skyrocketing" oil prices: "The price of oil is at the doorstep; $4-plus per gallon for oil is attributed to two oilmen in the White House and their protectors in the United States Senate."


In 2007, when the average national price ranged from $2.17 to $3.22, then-Sen. Barack Obama demanded that the Federal Trade Commission investigate Big Oil for "price manipulation." In 2008, presidential candidate Obama urged the Justice Department "to open an investigation into whether energy traders have been engaged in illegal activities that have helped drive up the price of oil and food."


Obama also called for "a windfall profits penalty on oil selling at or over $80 per barrel." As of Christmas 2010, a barrel of oil sold at slightly above $90. What happened to the windfall profits tax?

I'm sure he's going to get to that just as soon as he finishes his "lobster lasagne"...

Cooking for the President: Obama Dines at Alan Wong's

Cost to Taxpayers

My apologies because I'm surely out of line here... CV didn't get the message from Ashton Kucher and his little band of "blogeteer" groupies, that it is MY job to SERVE the President...

So I suppose that'll have to become my New Years Resolution for 2011!

"One for all and all for One" - Doesn't it go something like that?


 


AmenRa's Corner

A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.



Creditcane™: New Years resolution: increase my wrath so the truth may be known.



SPX
Spinning top day. Midpoint above EMA(10). Still above all SMA's. No daily 3LB changes (reversal is 1247.08). QE2infinity.




DXY
Bearish short day (could it be a morning star?). Midpoint below EMA(10). No test of the 38.2% retrace (80.63). Still below SMA(21). No daily 3LB changes (reversal is 81.19).



VIX
Spinning top day. Midpoint above EMA(10). Still below all SMA's (tried to get above SMA(21) but failed). No daily 3LB changes (reversal is 17.74). May look to escape the "no fear" zone. Monthly 3LB reversal?



GOLD
Spinning top day. Still above SMA(21). Midpoint above EMA(10). 0.0% retrace holding. Still above 14.6% retrace (1392.69). No daily 3LB changes (reversal is 1338.80). Must have the precious.



EURUSD
Bullish short day. Midpoint above EMA(10). Back above its 38.2% retrace at 1.3121. Back above SMA(21) and SMA(144). No daily 3LB changes (reversal is 1.3001). Now above weekly 3LB reversal price.



JNK
Bullish short day (but still closed lower). Midpoint below EMA(10). Failing the Gann 4x1. Below all SMA's except 144 & 233. New low on daily 3LB (reversal is 40.47).



10YR YIELD
Bearish short day (another failed bearish engulfing). The 0.0% fibo retrace at 35.66 has held. Above all SMA's. Back below its 14.6% retrace (33.86). Midpoint above EMA(10). No daily 3LB changes (reversal is 32.36).



CRB
Bearish long day. Midpoint above EMA(10). Above all SMA's. No test of 0.0% retrace. No daily 3LB changes (reversal is 326.80). Below trendline of current move.



IQI
Bullish short day (confirmed bullish engulfing). Midpoint below EMA(10). Below all SMA's. Still below its 14.6% retrace (11.74). No daily 3LB changes (reversal is 11.50).



XLF
Bearish short day. Midpoint above EMA(10). Still above all SMA's. Still above its 14.6% retrace (15.81). No daily 3LB changes (reversal is 15.81). Will we have a monthly 3LB reversal?



SUGAR #11
Bearish LONG day. Wiped out two weeks of gains. Back below SMA(21). Midpoint below EMA(10). Daily 3LB reversal down (reversal is 34.39).



Morning Audibles 12.30.10

I haven't even looked at futures yet... CV was wrong on "both" the OVER & taking ARIZONA last night in the "Remember the ALAMO" Bowl...

Speaking of remembering (which is not something I care to do much of as far as 2010 is concerned)... It's that time of the year to do a little "looking back" at all the things we managed to accomplish during the year...

Why not start with the great "Accomplisher in Chief" (who is busy in Hawaii making triple bogeys, visiting his [clears throat] "birthplace", thinking about ways to "fix" the economy, kicking ass [of his caddy who "mis-clubbed" him when advising to hit that knock down 8 iron into the swirly wind], yipping a 3 footer for a "snowman", but carding a "hockey stick", spending quality time with the family)...



Like the Ancient Romans used to do with their Colisseum games (to represent great accomplishments by the Empire), the Chi-Coms decided to bring that tradition forward & held a track meet to visually honor and represent all the Great legislative accomplishments that BOTH theirs, & our "centrally planned" governments have achieved in 2010... The gala "timeline of events" spectacle was called...

"2010 - in 110 meters"


Now that the footrace has been quietly, and successfully run... All that's left to do (save for the "2nd string" slopping it up on Wall St. for another day & a half until the bonus checks are cut)... The only REAL thing left to do (since the economy is on autopilot), is sit back and relax... Appropriately - The "Relaxer in Chief" EXTEN-ZE his vacation plans...

as it says on the top of the can, once again, "Livin' Large"



Obama Extends Hawaiian Vacation Another Day


Apparently, the "Extender in Chief", knowing that 2011 is going to be another tough year, chock full of battles to fight (perhaps we graduate and move on to "Steeplechase" events), was motivated by what the EXTENZE product has to offer...

"One little capsule of ExtenZe gives you the manhood you’ve always wanted!"

He's going to need all the manhood he can muster when facing down tough customers on Capitol Hill...

(is that the "nutsack" on that gavel that he's holding there?)

 If all that fails... I'd say he ought to just put down the cigarette, jump out of the golf cart, & join his good buddy, pledged humble servant Ashton Kucher (who, these days, can be found dodging and running around old VW busses in Topanga Canyon [in preparation for when he's gonna need to "save his family" for that fateful day when the garbage disposal doesn't work])...

http://www.zerohedge.com/article/forget-hugh-hendry-ashton-kutcher-recommends-you-panic-and-prepare-apocalpyse


CV has one final... "perplexing" question (to AK)... When was it... EXACTLY... That you made the jump from "Hope & Change" to "TEOTWAWKI"?...



Expect to see Ashton Kucher, coming soon, to the Home Shopping Network to hawk his new line of stationary bicycle power generated kitchen garbage disposals... And starring in his upcoming movie...

"Dude, where's my composter"?

AmenRa's Corner

A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.



Creditcane™: Last 5 minutes someone got spooked when they saw me in the rearview mirror.



SPX
Doji day. Midpoint above EMA(10). Still above all SMA's. New high on daily 3LB (reversal is 1247.08). QE2infinity. Made a higher high and a higher close (not by much).



DXY
Bearish long day. Midpoint below EMA(10). No test of the 38.2% retrace (80.63). Back below SMA(21). No daily 3LB changes (reversal is 81.19).



VIX
Bearish short day. Midpoint above EMA(10). Still below all SMA's. No daily 3LB changes (reversal is 17.74). May look to escape the "no fear" zone.



GOLD
Spinning top day. Still above SMA(21). Midpoint above EMA(10). 0.0% retrace holding. Still above 14.6% retrace (1392.69). No daily 3LB changes (reversal is 1338.80). Must have the precious.



EURUSD
Bullish long day. Midpoint below EMA(10). Back above its 38.2% retrace at 1.3121. Back above SMA(21) and the SMA(144). No daily 3LB changes (reversal is 1.3001).



JNK
Bullish short day (confirmed bearish engulfing or is this ex-dividend). Midpoint below EMA(10). Failing the Gann 4x1. Still above all SMA's. Daily 3LB reversal down (reversal is 40.47).



10YR YIELD
Bearish engulfing day (here we go again). The 0.0% fibo retrace at 35.66 has held. Above all SMA's. Back below its 14.6% retrace (33.86). Midpoint above EMA(10). No daily 3LB changes (reversal is 32.36).



CRB
Doji day. Midpoint above EMA(10). Above all SMA's. No test of 0.0% retrace. No daily 3LB changes (reversal is 326.80). Checked the weight or volume of cereal lately?



IQI
Bullish engulfing day. Midpoint below EMA(10). Below all SMA's. Still below its 14.6% retrace (11.74). No daily 3LB changes (reversal is 11.50). Is this one of those "hope springs eternal?"



BKX
Bearish short day. Midpoint above EMA(10). Above all SMA's. Made a new 0.0% retrace. No daily 3LB changes (reversal is 50.92).



DJ TRANS AVG
Bullish short day. Above all SMA's. Midpoint above EMA(10). Daily 3LB reversal up (reversal is 5019.80). Tired of moving sideways?




SILVER
Bullish short day. Still above all SMA's. Midpoint above EMA(10). New high on daily 3LB (reversal is 28.79). Shorts putting 911 on speed dial...



XRT
Bullish short day. Midpoint above EMA(10). Still above all SMA's. New high on daily 3LB (reversal is 47.26). Tested and passed its 23.6% retrace (48.45). JBTFD...



Disclosure/Warning

This blog should not be interpreted as investment advice of any kind. The authors are NOT representing themselves CTAs or CFAs or Investment/Trading Advisor of any kind. The authors may or may not trade in the markets discussed. The authors may hold positions opposite of what may by inferred by this blog.The information contained in this blog is taken from sources the authors believes to be reliable, but it is not guaranteed by the authors as to the accuracy or completeness thereof and is presented here for information purposes only. Commodity trading involves risk and is not for everyone.