Stick mastery ALWAYS draws an audience...
SPXBearish short day. Closed above 1110.02 (fibo .09) so a retest of 1151.86 (fibo .0557) may happen. Midpoint below 10 SMA (downtrend). Tested the 144 SMA and FAILED. There has been a weekly 3LB reversal with reversal now 1217.18. New low on daily 3LB with reversal now 1173.60. Still trending down on the daily 3LB. QE2infinity.
DXYBearish harami day. Midpoint well above 10 SMA (uptrend). Tested 85.11 (fibo .1459) and failed (again). Go Bucky Go Bucky. No daily 3LB changes.
VIXBullish LONGER day. The 61.8% fibo ext (support) rules. Fear has arrived in all its glory. Tested and closed well above the fibo retrace of 23.6%. Closed above all SMA's. New high on daily 3LB with reversal now 23.84. Also has closed above monthly 3LB reversal (24.51).
GOLDDoji day. Could be start of an evening star. Midpoint still above 10 SMA. The retest of previous high 1226.40 may be in trouble. New high on daily 3LB with reversal now 1180.70.
EURUSDBullish harami day. Midpoint well below the 10 SMA. Currently below all MA's (again 4x). Fibo level of 1.2935 has been decimated. Up next is 1.1571 (the .236 fibo level). Well below trendline (11/27/09-3/17/10). No daily 3LB changes.
JNKBullish thrusting day (aka failure to rally). Midpoint below 10 SMA (downtrend). Tested 233 SMA and passed. RISK OFF REPEAT RISK OFF. No daily 3LB reversal changes. Still trending down on the daily 3LB.
SLVBullish long day. Midpoint still below 10 SMA. Closed back above 21 SMA. Tested the 76.4% retrace and passed. No daily 3LB changes.
XRTBearish short day. Trading below 10 SMA. Rising wedge apex coming soon. New low on daily 3LB with reversal now 42.51. Still trending down on the daily 3LB.
28 comments:
CBs will try to sell dollars and yen again on the weekend.
BUCKY will take a breather, I think, and so will TLT and the VIX.
But the KRAKEN has been awakened.
You know, LB, your avatar seems to be showing mostly your "good" side...
Krugman explores the options for resolving the "drachmatic" situation in Greece.
Krugman on Greek Debt Options
B in T: This avatar definitely catches my best asset.
Some may want to "pin a tail" on that thing...
I can't see the icon well enough, but is that doctor phil behind LB's rear end? It might be why he looks nervous.
Is it sad that some of the "realest" people I know, I dont even "know", because they are on the internet?
Or is everyone else experiencing a similar phenomenon?
That's my thought of the day...
Profound, I know.
TJIF!
You will force LB to lose the ass and mule over a new icon..
"Is it sad that some of the "realest" people I know.."
No, the issue is most people are Dumb as Rocks.
ZH has a few stories out of Europe.
Basically they are going to do a TALF. There will be a rally.
Wonder if ECB will eventually go to ZIRP?
QE PART II
on the wires tonight:
French sources expect ECB to set up credit facilities over weekend. BoJ, Fed, BoE expected to set up FX swaps on Monday.
Have a great weekend all!
...more holes in the dike
...gotta plug 'em up...
hurry, hurry, create more debt...
Anyone wonder what happened to Gold and Silver today?
KD has the story
A EUR rally is good news LB.
We can sell some more :)
WOW-
found some local "super-premium" Virginia made Vodka at the ABC store- and made traditional- from potatoes-
pretty damn good- and I was near an ethnic grocery store- Korean I think-
popped in and found some Tiger beer-haven't had that since the last time I was in Singapore about 20 years ago- but-
lo and behold- at the back of the store- live Tilapia- in huge tanks- as well as live Catfish and Fluke and some other fish I don't remember-
a bit of a coincidence considering CV's indoor Tilapia farm was just mentioned this morning
this is a must watch video- compliments of ZH-
Tim Backshall Of CDR Summarizies The Greek Predicament In 3 Quick Minutes
no doubt- I mean really- can we expect "clear heads" to prevail?
more debt is not a solution- but it is the "GOAL" of of all advanced nations-
because if it is not achieved- the ship goes down!!!!
nic@7:28 -
i was thinking the same thing in essence,
i was wondering if jpm was starting to unwind their massive silver short today...
i doubt it, they have the wink and the nod, probably just the lesser players, but...if that is the case, what could be the impact of a jpm unwind - massive i would spec
I-Man @ 5:40
What one finds at a site like this is a high level of honesty among contributors. No pretensions, no fancy cars, no fancy degrees, no fancy titles (a few weird avatars, maybe).
DL, hahaha! but definitely a few weird "avatars" as you call them. AR, thanks for the recap.. i don't want your contribution go thankless even tho it pays exceptionally well.
(ps. i'll try for a new "avatar" by Monday!)
I-man:
You know the polling wizards have come to the conclusion that the majority of investors now get most of their information from blog sites. And as you guys already stated, even if you are anonymous, there is no reason to lie, unless you are wired like F 111 or Harry Wanger. Or maybe the Wall Streeter who blogs.
Found a new place for oysters last night. Great band. Great time.
@DL
The reason for the high level at this site is because of the extraordinary high salaries I pay AmenRa & Andy T...
They draw all the top quality commentators...
If it was just me by myself, this place would disintegrate to "The Fishin' Hole" in about 3 seconds...
However, I still think Bruce, IMan, and maybe ahab would buzz by by from time to time if that were the case...
karen - you keep your AVATAR as it is... If CV can figure out a way to "monetize" that, I will... Soon I may need to if AmenRa & Andy ask for a raise :-)...
Wes-
here's something I posted the other day you may find interesting from Jesse's cafe-
Why Silver?
"Quite a few think that it is a trade gone out of hand, where the shorts are effectively trapped, and cannot manage their way out of it gracefully."
...no conspiracy, just trapped on the wrong side of the trade, maybe so - pure COLD STEEL
. . .and it's amazing that I still woke up about 6:30-
a bit "out of practice" on vodka martini's- so alas- my head was spinning by the time I went to bed-
but this morning- I feel great- now that is tolerance- lol
. . .and CV-
dude- you're pretty sharp- and eclectic- so your site is informative and interesting and if you remember- when you set up this site-
I said I was with you win or tie- lol
http://www.msnbc.msn.com/id/37003798/ns/business-stocks_and_economy/
WASHINGTON - Following last-minute adjustments, a proposal to audit the Federal Reserve that the Obama administration once opposed was on the verge of passing the Senate as it attracted broad support from conservatives and liberals alike.
The administration withdrew its objections to the proposal Thursday, saying it was satisfied that the audit would not interfere with the Fed's authority to set monetary policy.
NEW THREAD UP
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