SPXHammer day. Wanted to test 21 SMA but didn't. Stayed above the 1.786 fibo (using low) of 1190.89 (next is the 1.8276 at 1218.63). Midpoint below 10 SMA. No daily 3LB changes. QE2infinity.
DXYDoji day. Closed below 21 SMA. Stayed above the 55 SMA. Midpoint above 10 SMA. No daily 3LB changes. Now trading back above the weekly 3LB reversal at 80.44.
VIXBearish LONG day. What happened to the fear?. Fell down through the 50.0% & 38.2% fibo ext. Midpoint is well above 10 SMA. No daily 3LB changes.
GOLDSpinning top day. Recovered from heavy selling. Tested the 0.0% and passed. Also held the 21 SMA. No daily 3LB changes.
EURUSDPossible hammer day. Midpoint below the 10 SMA. Closed above the 21 SMA. Next fibo level of 1.2935 is still a target in case of weakness. New low on daily 3LB reversal with reversal still 1.3656.
GSBullish thrusting day. Stayed above the 1.618 fibo of 154.80. Closed back above the 0.0% fibo ext. No daily 3LB changes.
The Bond Report 4.19.10 - (courtesy of LB)
A weak day in fixed income across the board as bonds sold off a little in the afternoon and equities rallied as carry trades recovered from last weeks' Greece/Goldman shock. Vanguard put out an interesting note today regarding the Bear Flattener and warning investors that holding the Short End into a tighter FED might result in Investor Pain.
Hard to see today's trade as anything more than a little profit taking by traders on the right side of last week's action, or perhaps this was simply the result of EVIL HEDGERS like LB.
Corpies: LQD -0.25%; AGG -0.18%; JNK -0.43%; HYG -0.19%;
Govies: TLT -0.25%; IEI -0.21%; TIP -0.24%
We retained our EVIL HEDGE position on the long end but otherwise did nothing.
In summary:
If you're the BLACK LAB (into a tighter FED)...
And LB is too much of a gentleman to say (so CV will say it for him)... "Macro Man... you're STILL blowing those pretty BUBBLES"...
Liverpool 3 - West Ham 0
9 comments:
Those interested in a chart of TLT can check out the excellent work of the I-Man over at Dread Capital.
X2 - Nice work I-Man
I-Man Does The Long Bond:
TLT Chart
Real Estate Debt Sees ‘Violent Rally,’ Bank of America Says:
http://www.bloomberg.com/apps/news?pid=20601110&sid=ao7UaQxmwaSs
Time for LB to take his "donkey" home... football tonight.
See everyone tomorrow.
http://www.forexinfo.us/2010/04/19/djia-elliott-wave-analysis-19th-april-2010-video/
Lara is doing some EW for the DJIA.
Recovery Tilting to V-Shape as Profits Prompts Growth Revision
http://www.bloomberg.com/apps/news?pid=20601109&sid=aSDDLls1h3LA&pos=12
Excerpt(s)...
"The odds that the U.S. will relapse into recession have fallen to 15 percent from 25 percent at the start of year, thanks in part to rising profits, said Mark Zandi, chief economist at Moody’s Economy.com in West Chester, Pennsylvania."
The expansion will feed back into corporate earnings and pave the way for a further rally in the stock market, LaVorgna said.
“Businesses, broadly speaking, have the financial firepower to go out and invest and hire,” Zandi said.
"Now Janet Yellen, who is said to be President Barack Obama’s pick to be the next Fed vice chair, is also more positive about the outlook.
“It’s fair to say that my own thinking has recently turned a corner, and I am becoming more and more confident that the economy is on the right track,” Yellen, who is currently president of the Federal Reserve Bank of San Francisco, said in an April 15 speech.
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So there you have it people... Get out there tomorrow and BUY AS MANY STOCKS AS YOU CAN FIND... ON MARGIN
THERE'S NO FRIGGIN' WAY ANYTHING CAN GO WRONG!
too disgusted to post !! but thanks, AR, for the recap.
@karen
Early thread up 4 tomorrow... (in seconds your time)...
I doubt you'll like the music... (but hope you like the imagery & thought)...
NEW THREAD UP
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