AmenRa's Corner

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


SPX
Bearish short day. Confirmed bullish thrusting. 1110.02 (fibo .09) is now a part of history. Midpoint submerged below 10 SMA. The 233 SMA (1079.96) was again violated. Also back below the 1.618 fibo (using low) of 1078.87. No daily 3LB changes (reversal is 1165.87). Trending down on the daily 3LB. QE2infinity.



DXY
Bullish short day. Midpoint above 10 SMA. The 85.11 (fibo .1459) is holding (91.80 is next). Back above the 76.4% retrace. No daily 3LB changes.



VIX
Bearish short day. Did confirm bearish engulfing. Fear of the truth of how bad it really is. And it's getting worse. Closed back below the 38.2% retrace and below 40. No daily 3LB changes (reversal is 24.91). Still trading well above the monthly 3LB reversal (24.51).



GOLD
Bullish long day. Still below the 21 SMA. Midpoint below 10 SMA. "Ring ring. Hello? Contracts have settled. Feel free to buy." To hell with fiat! (Gold's rally cry). No daily 3LB changes (reversal is 1220.30).



EURUSD
Bearish long day. Looks eerily similar to an evening star pattern (hint hint). Midpoint below the 10 SMA. Fibo level of 1.2935 is history. The fibo .1855 at 1.2336 is about to be tested. Following that is 1.1571 (the .236 fibo level). Still below trendline (11/27/09-3/17/10). No daily 3LB changes.



JNK
Spinning top day. But didn't close the gap. Now above the 14.6% retrace but still below the 233 SMA. Midpoint below 10 SMA (downtrend). Possible matching high (undefined but is similar to matching low). No daily 3LB changes (reversal is 39.38).



GS
Bearish long day. Midpoint below the 10 SMA. Still below the 2.058 fibo (using low) of 144.98. Looking to test the 1.618 fibo (using low) of 124.12 (soon and very soon). Run don't walk to the exit (just an opinion). No daily 3LB changes (reversal is 142.32).



XHB
Inverted hammer day. Tested the 89 SMA and failed. I guess existing homes sales means nothing for the homebuilders. Midpoint still below 10 SMA. New low on daily 3LB with reversal now 17.66.

124 comments:

I-Man said...

When GS trades through 90, they get taken private. Just a hunch.

Thanks for the wrap, Ra.

DL said...

Jeff Saut comments on the oversold condition of the stock market, and makes an argument for going long crude oil:

http://www.minyanville.com/businessmarkets/articles/crude-oil-market-crash-future-currency/5/24/2010/id/28448?page=full

AmenRa said...

The monthly 3LB reversal has occurred and may be finalized by the end of the week. It still will need confirmation. Wednesday 6/30/10 is the first shot at confirmation. But as long as it trades below the reversal price is a decent indicator of confirmation.

AmenRa said...

I-Man

I was wondering about that. When GS was back to trading at its IPO price (during 10/08) they were freaking out.

I-Man said...

Wonder if they will offer Buffett a "partner" stake when that happens. LOL.

AmenRa said...

I-Man

That might have been Buffett's idea all along. He is shrewd and not always the "nice old man" he is thought to be.

McFearless said...

Hmm, Ra mentioned TRIN several times today, RR after the close that:

"Lowry's Selling Pressure Index is hugely ABOVE their Buying Power Index, which means downside pressure dominates like a ten ton ball hanging over your head."

EWI follows tonight with:

"The market remains oversold, but the really big down moves almost always occur after stocks reach a deep oversold condition."

Someone mentioned jokingly over the weekend that 'they' were making "all the right moves"...I completely agree!, the chorus of this song tells how that all works out, it came to mind right away when I read the comment:

http://www.youtube.com/watch?v=qrOeGCJdZe4

and if that is a too new for some of you, this is a little older, or, at least it is for I and I:

http://www.youtube.com/watch?v=BqOyZ37v-yA

If you don't want to listen just start at 1:25.

EWI has relabeled their Dollar Chart.....

I-Man said...

I guess things arent too rosy in the AH?

SPY bid = 107.08

SPY close = 107.71

I-Man said...

When the shit goes down...

You better be "DREADY"...

McFearless said...

I'm wondering if AT has this labeled as some sort of X wave triangle. That's surely a valid count now....

AT, if you are out there?

Nic said...

If you make this really simple as in AB=CD or XA=BC (I think that's what wavers say) then the S+P cash I think is going to 1031-ish, which is 1.27 fib and also the October lows support level if Fridays low is taken out.

It is going to be time to buy a bounce in crude soon where the same theory applies.

DL said...

Catchy title:

“Strippers Declare Inflation Dead”

http://www.bloomberg.com/apps/news?pid=20601010&sid=a8zAyoW33gtQ

I-Man said...

Whats your take on the SPX DL? Got any bounce levels mapped out?

AmenRa said...

AH below the "flash crash" lows.


Ben

I'm just getting used to TRIN. I'm trying to see whether TRIN or PC gives a better clue as to where to pressure is hiding.

DL said...

I-Man @ 6:32

I'll leave it to you bears to decide what happens the rest of this week.

I do think we'll get a very substantial rally during the month of June, and into the first half of July.

call me ahab said...

interesting day- just like Friday- but like the Twilight Zone- an alternate universe- someone probably already made that observation however-

also- did anyone note that the Texas Ranger's filed BK-

"The Texas Rangers are attempting to complete the sale of the club through a voluntary bankruptcy plan that would fully pay the club's debt to the creditors."

http://sports.espn.go.com/dallas/mlb/news/story?id=5214583

I wonder how many other teams in the MLB, NBA and NHL will find themselves in BK in the next few years-

a few at least is my guess

I-Man said...

My only problem with the 1030 target, which lines up with the january correction downtrend line on the weekly chart, is that imo, if we're going to hit that this soon, then its going to be an all out puker down to the upper 900s... like this week.

I-Man might be falling into the trap again, but that 1030 level seems so obvious to me right now that its ripe for a flushout of shorts at that 1044 low and a rip back to 1130 before really selling off again.

It would both please and surprise me if we got a swift rip down to 980 or so in the very near future... I have that move postponed a few weeks or so.

But the I is open...

I-Man said...

Thats the beauty of being a daytrader... you only have to keep this shit in the back of your mind, go home flat everyday, and then come into each new session fresh.

Just knowing where we are in the tape helps determine whether to short or long each day, and if I-Man was runnin the desk, we'd be shorting in this market until further notice.

AmenRa said...

I-Man

This is what I'm looking at:

"Major" fibos
.09= 1110.02
.1459= 1041.83
.236= 931.93

"Minor" fibos
.1107= 1084.77
.1272= 1064.64
.1618= 1022.44
.2058= 968.77
.2618= 900.46

McFearless said...

Ra,

As I see it, the main issue with put/call is you can't actually see if people are trading bullish or bearish spreads. I use it as one tool but always keep that in mind.

AmenRa said...

I think I've found why 1064-67 level is "important" on the SPX. The Dow/SPX ratio is around 9.3 so Dow 10k is around 1066 on the SPX. QED.

Anonymous said...

@ Ben, You once said, Prechter is bullish India? I am not so much. I, born in India -

"Corruption in education - time to tame regulators". -www.tribuneindia.com/2010/20100525/edit.htm#6.

"Of the 130 deemed universities 44 had abysmal academic and physical infrastructure and are mainly family fiefdoms...".

"The Medical Council of India has also a dubious record for granting approval to medical colleges. The MCI President was arrested recently for accepting a bribe for Rs 2 crore( 20 million rupees)...His family possessed disproportioned assests(compare to his salary) worth Rs 24 crores".

I know for a fact people bribed their way to get seats in some medical schools. My grandfather was treated at a teaching hospital in India, where rich students paid donations to get in.

In northern India, two things people dread - sickness, and any invlovement with the police.

AmenRa said...

Ben

I think that's why I've been leaning toward the TRIN. The PC is based on CBOE options but the TRIN is based on equities.

McFearless said...

@Anon,

please keep in mind that EWI/Prechter think that ALL markets are basically going down hard during what we call Primary Wave 3, when they discuss a bull market they are often looking out decades into the future.

The last time I had this discussion the same sort of headlines were given as examples of why India would not have a bull market, which I find extremely interesting, ....Social Mood and Socionomics at work.

Maybe you could answer a comment I made on here the other day. I have a client that is from India that works in Philly as an energy analyst. He is a Wharton grad, does extremely well for himself, great family etc etc. He told me last week that his friends in India think that he is crazy for working in the states, he is considering moving back home. They are all still in India and according to him doing quite well for themselves.

What do you think about all of that?

call me ahab said...

"Rising home sales likely to cool despite low rates"- Yahoo Finance

"Rocket surgeons" obviously devised that headline-

without me digging up charts- real rates are probably pretty high- with inflation tracking negative-

so if inflation is -1.0% then real rates are 6%-

but even when rates were 12%- if inflation is kicking along at 12%- real rates = zero

so . . .the question is how low can they go? Pretty damn low- without any rush to cash in on the low rate-

people aren't as stupid as they appear

AmenRa said...

ahab

Why not a headline with the truth: "Rising home sales likely to cool because government handouts have expired"

McFearless said...

I wish all of McHappy's 6'9'' rejected this shit into the bleachers....scrub:

http://dealbreaker.com/2010/05/tim-geithner-buries-a-three-in-this-chinese-dudes-face/

Anonymous said...

ahab

Been keeping an eye on the Rangers sale.
This move was designed to get around Monarch Asset Capital.
Now they will have no legal standing in BK court, at least the Rangers and MLB hope so.

The other option was seizing the club via the 'best interests of baseball' clause/rule.
This was a very sticky wicket and had the potential for endless litigation.
We shall see what happens.

Oh and Tom Hicks is a buffoon who is mightily over-leveraged and deserves to be penniless.

On the plus side, Elvis Andrus and Neftali Feliz are keepers.
Go Rangers.

foghorn

AmenRa said...

Anyone notice that the bottom callers are out in full force again? The same ones that were calling the bottom all the way down the last time.

CV said...

@foghorn

& Nolan Ryan is part of the 'acquiring' group (post BK)...

Nelson Cruz is a keeper too...

Fantastic comments thus far this eve... I'll get to them all as I settle in with a brewski...

call me ahab said...

Ra-

no doubt- that forced the people who were on the fence- but tentatively in the market to buy a home- to buy to take advantage of the government "spiff"-

permits sucked wind last month- and that speaks volumes about where housing is headed

foghorn-

I was looking at it from a larger scale- that the days of expansion are over- and the days of contraction are here re sports franchises

CV said...

@Amen

Great WRAP... (I had to laugh you putting XHB in there - couldn't resist, could you? - LOL)...

VIX - Personally, I can't wait until it hits 100 again... 200? even better :-)

Anonymous said...

From here;
http://hardballtalk.nbcsports.com/2010/05/the-rangers-announce-the-greenberg-sale-is-going-through.html.php

----------------------------------
*I'm aware that most of the debt at issue is not technically owed by the Rangers -- it's owed by Hicks Sports Group, thereby meaning that the big creditors like Monarch Alternative Captial couldn't really go after the Rangers. But that's kind of beside the point. All along these creditors have been making noises about dragging the team itself into bankruptcy if they weren't paid, and it the suggestion has been strong that they would try to advance legal theories -- however novel -- that would allow them to encumber the team in order to get the money they are owed by Hicks. For MLB and the Rangers to make this filing today, they have to think that such a move is not a threat. This underscores my belief that some sort of side deal between Hicks and the creditors has to have taken place.
-------------------------------------
I was incorrect in my earlier post it is
MONARCH ALTERNATIVE CAPITAL, my bad.
Anyway, the way I understand it is that Monarch bought the debt from the original lenders at .50 cent and was looking for a dollar.
But only 75 mil is secured against the club, the club will pay that and tell 'em to pound sand.

foghorn

CV said...

@Nic

Actually - Some of my 'levels' line up with yours...

But I'll tell you something... The next LOW might not be 'orderly'...

This could get out of hand, therefore it would be best to have several LOWS handy on the ROLODEX...

Just saying...

AmenRa said...

foghorn

TR: Hello?
MAC: Where's my money?
TR: We paid you the secured.
MAC: What about the rest?
TR: HAHAHAHAHA. Click.

AmenRa said...

CV

I believe traders are not waiting for a bounce this time. They will want OUT.

CV said...

@foghorn

The BEST part (to me), is that the ALEX RODRIGUEZ contract (which they still owe $25 million on), is UNSECURED DEBT...

He might not get paid...

Jump u f-ers!

Anonymous said...

Oh I agree ahab.
I was just pointing out that this deal is more legal maneuvering than anything.
As the saying goes, when the tide goes out, you get to see who was swimming nekkid.

foghorn

CV said...

@Amen

I don't know if you caught it... But I went SHORT too today (3,000 SPXU's) which executed at 3:46...

You're right... I'm going to get a call from the SEC :-)...

AmenRa said...

CV

You're going to have some guys in black suits in your exercise class LMAO.

Anonymous said...

CV
Agree on Nellie and Vlad the Impaler is a pleasure to watch.

The former players will BE PAID IN FULL, MLB, will make sure of that as they are one of our largest creditors.

They (MLB) are owed at least 35.5 mil, hell Rawlings is owed 30 something grand.
Can't even pay for effing baseballs!

foghorn

Nic said...

I agree its an obvious level and there are a lot of factors in its favour but sometimes simple works. I like to play the order book as in if I wanted to buy this market where do I think it will get to and where would I put my orders.

Andy T said...

Hey guys.

I'm sorry. Been very strapped for time with the camping/job/wife's B-day tomorrow, etc...

I'm not sure if I'm going to be able to produce anything worthwhile this week.

It's "over" for the S&P for a long time. Those peaks at 1200+ probably won't be better for a few years. The short term price action is still a bit tough to figure. My hunch is we're forming some sort of larger triangle on the daily. In the short term, ALL of the upward price action has been "corrective" nature, so it's bearish.

Gold looks decent for the next few weeks. I don't see it breaking down. We could see 1300 for the yellow metal in the next few weeks.

DXY and EURO are a bit confusing in the near term...so "no comment." The Euro looks like it's trying to formulate a bottom amid hopeless bearishness, but it has not shown us "meaningful" life just yet....

McFearless said...

as I recall John Mauldin's office used to be in Rangers stadium, he got out of there maybe a year and half two years ago if I remember right.

Nic said...

Agree about a sign of things to come re the Rangers and right after Perot sues Cuban over the Mavericks financials too.
Everyone says TX is doing so well, so it makes you wonder.

call me ahab said...

another headline that makes me laugh-

"Fed Won't Sell Assets Until It Raises Interest Rates"- CNBC

I guess it's never then- lol

Nic said...

Here in Toronto of course we have the richest team in North America (The Toronto Maple Leafs) who could sell their tickets three times over at three times the price and are owned by the teachers union and who don't give a damn about the fans or winning, just $$$
No justice

Anonymous said...

@Ben, regarding your 7:16,

Seems like your client is well-off(upper middle class). If he were to go to India, he should do well for himself( live a life of luxury). I donot know so much for his children's education. Post-secondary education is still the best in western countries(He himself went to Wharton, why not an India University?).

I think India's major problems will be availability of fresh water, security(China and Pakistan as neighbours), overpopulation, corruption and dwindling resources.

United States is still the safe haven. I am long the U.S. Always! I think Royal Bank of Canada's CEO once said that.

Immigrants always yearn to go back but they never do. If they do, they always come back. I live in Canada. I have some family members who went to India, but came back,swearing not move back there again.

My parents have agriculture land and recently bought a house in a city nearby. Oh the bureaucratic nightmare.

CV said...

@Andy T

Thanks for "chiming in"...

Listen... When and IF you have time this week... You are at liberty (NOT 33 LIBERTY - but you know what I mean)... To INTERCEPT any thread this week and post up a chart if something strikes a chord...

Just POST IT (any time or place)...

FWIW... I'm 100% in the camp (speaking of camping) with your comment...

SPX lower... (who knows HOW lower? that's the million dollar question ATM)...

Gold - I was hinting at that this morning... May options are now concluded... I think it's FREE & CLEAR to trade higher... Not that I'm particularly interested, but I am interested in how the move gets interpreted technically amongst other things...

It's likely that there will be a lot of correlative discrepancies going into portfolio rebalancing thru the end of June...

Buckle up!

Anonymous said...

Nic
re; Texas
If anything, we are just bleeding out more slowly than the rest of the corpse.

foghorn

CV said...

@Nic

I'm doubting the Toronto Maple leafs are richer than the:

- Dallas Cowboys
- New York Yankees
- Washington Redskins
- Los Angeles Dodgers

CV said...

They're prolly better than the Phoenix Coyotes tho :-)

CV said...

@anon

"I think India's major problems will be availability of fresh water"

That's the KEY... Fresh water...

Mark my words people... The next WORLD WAR will be fought over Fresh Water...

Southern California? Phoenix/Scottsdale/Las Vegas?... It's a effin' D-E-S-E-R-T... Be advised!

Move to where the water IS (not channeled IN)...

call me ahab said...

Nic-

sorry- I am going to have to disagree w/ the Maple Leafs being the richest team in North America-

Redskins? Cowboys? Yankees? Celtics? Lakers?

I mean c'mon

Anonymous said...

CV
Dallas Cowboys
Leveraged to the eyeballs with debt from JerryWorld.
Jerry himself said it was only the DC name that allowed him to get the funds to build it, no clean that up, to FINISH building it.
Now he wants the players to pay for his house, so 2010ish, doncha think?

Oh and everybody 'loves' the effing $$$80 dollar parking spots.
That puppy is on tenuous ground.

foghorn

Anonymous said...

@CV, 8:27 look at map of North India, and see where the rivers come from. Some even from China - WOW.

See any problems? I do.

call me ahab said...

foghorn-

I see your point-

but looking at it as just sheer valuation- how much it could get on the open market-

then no way the Maple Leafs come close-

so I guess it depends on what is meant by the richest?

CV said...

@foghorn

I wouldn't disagree about JJ's leverage... However - A stadium like that, I think, can still survive in a weak economy... If ANYTHING, it'll be the LAST THING STANDING...

Dan Snyder (jerk that he is), is actually kind of smart (Stadium wise)... He did everything on the cheap...

Also - NFL is "voting" this evening on the 2014 Super Bowl...

Talk is it's going to NEW YORK!

25 degrees at the Super Bowl homies!

Big Comb said...

http://www.bloomberg.com/apps/news?pid=20601085&sid=at4wlYUhMvXE

May 25 (Bloomberg) -- Lombard Odier, Geneva’s oldest private bank, has been urging U.S., U.K. and Swiss clients to shun the euro since December. The European Union’s rescue package hasn’t led the bank to change that advice.

The EU’s almost $1 trillion of aid doesn’t change the fact that the euro region “can’t afford its future,” said Paul Marson, Lombard Odier’s chief investment officer. While the bailout offers a “safety net” to French and German banks, it lacks the conditions typically found in an International Monetary Fund rescue to enforce fiscal discipline, he said.

“The recent rescue package was necessary to stabilize the system but doesn’t improve the fundamental outlook,” Marson said in an interview last week. “You need a Paris Club for Club Med to enable them to restructure without contagion.”

Worries about Greek sovereign debt flared late last year when the government more than tripled the estimate of its budget deficit relative to gross domestic product. Those concerns have spread to other so-called Club Med nations in southern Europe such as Portugal and Spain. Started in 1956, the Paris Club is an informal group of rich nations which meets to restructure or cancel the sovereign debts of countries in crisis.

Lombard Odier, which managed 147 billion Swiss francs ($127 billion) of assets at the end of 2009, began shifting sterling, dollar and franc-denominated clients out of euros on concern about euro zone budget deficits, the CIO says.

Weaker Euro

“Effectively governments have entered the monoline insurance business” for Portugal, Ireland, Italy, Spain and Greece, Marson says, referring to insurers that guarantee the payment of bond principal and interest when an issuer defaults.

“We’re going to see draconian budget cuts” in Greece, Spain, Ireland and Portugal, which means revenue will fall and ratios of debt to gross domestic product will “rise to unsustainable levels,” he said.

AmenRa said...

Looking like someone is getting out in AH before the cash markets open.

Nic said...

You boys are right. Where I live there is only one sport ... hockey.

McFearless said...

Anon,

thanks for the response, my client earned a degree in Engineering from Nagpur University and did Wharton post grad.

CV said...

@McF

... so he has that going for him :-)

Not meant to be disrespectful in any way... (just a little 'funnin')... CV likes to keep the humor aspect going at all times (even in the DARKEST of hours)...

Anonymous said...

@Ben, your 8:42. I can understand, where he is coming from. There is always a longing in one's heart....

I miss my family farm in northern India and the winter season in Canada is harsh. At least I have a choice..thank God!

Anonymous said...

Moving the SuperBlow to New York, New York, is effing BRILLIANT.
Why didn't they think of that XXX years ago?

More proof that we are devolving.

foghorn

Nic said...

There has been weird price action for this time of night today (the hours between NY closing and Sydney/Tokyo opening).

AmenRa said...

Nic

Please elaborate.

Nic said...

It is a very illiquid time of day in futures and FX. Sometimes you will see stop hunting in FX or market makers will move price to a more favourable level and then it reverses when Tokyo or Sydney opens. Only NZ is open at this time. All last week NZ continued the moves of the US session or held the levels and then they reversed.
Just tonight some of the moves where big in scale ... and sharp. Look at Silver or Gold or EURJPY.

Does anyone else have a sunday gap in Gold? I am wondering if it closes before we go higher.

Nic said...

It looks suspiciously like someone took advantage of a cheap time to move the market to where they really want to buy ...

DL said...

CV @ 7:58

That's some serious sh*t you got going there.

(Better late than never?).

Nic said...

CV @7:58
I hope this doesn't turn into some occasional handwritten note blog a la Martin Armstrong.

Anonymous said...

"HOMEBUYERS are to be offered never-ending mortgages in a bid to overcome Australia's affordability crisis.

ING Direct, Australia's fifth largest lender, is preparing to sell loans that have no fixed term and no requirement to repay any capital along the way.

At current rates, the interest-only loans would cut repayments on a $300,000 mortgage by $5000 a year......"

http://www.adelaidenow.com.au/money/revealed-the-home-loan-that-could-save-you-a-fortune/story-e6fredkc-1225870019522
-------------------------------------
Another BRILLIANT idea, so BRILLIANT, in fact, I am at a loss for words.

foghorn

CV said...

@DL @Nic

I kno right?

Tomorrow, I'm going to post the "justification" for that trade...

It was very SPUR OF THE MOMENT actually... However, something just "clicked" in my cabesa (which I didn't discover until late this afternoon)...

(I'll put up the CHARTS on that tomorrow morning)... Believe it or not, I MARKET bought it...

As early as last Friday, I'd been pricing in the SPY puts (but the June 98 puts were priced at 2 bucks & change)... I said "EFF that"...

Weird...

CV said...

Maybe they'll put me in SOLITARY in MA's old cell when they let him out... :-)

AmenRa said...

Nic

HAHAHAHA. Trials keep getting postponed. Appeals keep failing. CV becomes a myth.

CV said...

@Amen

I'm going to have to start working on my PENMANSHIP (vis a vis "MA")...

If I can get myself up to an I-Man standard (who is arguably better than Singer), I'll consider myself a living GOD! :-)

CV said...

@Amen

I hereby bequeath this blog to YOU...

I'll forward my collection of funny IMAGES & YOU TUBE links that I have yet to use...

Un-impressive... (mainly a bunch of DEVO tunes)...

CV said...

Can I also say?

I'm HAPPY that LB is back...

We NEED you these days brother... Don't keep your thoughts to yourself!

AmenRa said...

CV

Gracias. BTW the Asian markets are getting stir fried.

CV said...

@Amen

As they drag me away to MA's former cell... I'll be screaming...

"BUT I THOUGHT THIS WAS A TYPICAL RECOVERY"!

Anonymous said...

Did someone say Devo? "Crack that whip!"
____
_| |_
_| |_
|______|

2s2b

CV said...

@Amen

"是的宝贝"

That's Mandarin for "Yeah Baby"!

Nic said...

Michael Covel (the Turtle) just said:
"At 1073 the S&P 500 is 24% below its level of ten years ago." Kaboom!

McFearless said...

this game is getting good now....

Anonymous said...

Oops, that didn't work ... so much for the Devo hats, my bad

2s2b

AmenRa said...

EURUSD back under 1.23, 10 YR yield 3.163 and falling. ES heading towards Fridays low of 1051.25.

CV said...

@2stb

LOL

I actually am remiss... AND SUCK AS A BLOG HOST...

To acknowledge...

2 SMALL TO BAIL was the 2010 CHAMPION of the NCAA Basketball Fantasy Tournament!

2nd place was Barack Obama... (no kidding)...

CV said...

@Amen

DAY 21... tomorrow...

Moreover... DAY 13 from "flash crash"...

CV is thinking this "correction" turns into a 34 day affair...

Often happens in MAY of WORLD CUP years (if you study your history)... Which I don't, obviously...

Anonymous said...

C- Too generous you are FF master ... I think your Bro or cousin won, no? I might have been 2nd in the upside down standings.

You created a monster tho - that was my 1st fantasy team ... I now have 4 (rot) baseball teams.

2s2b

Anonymous said...

... and if I remember right, Ben would've won the SC eletron trophy if Baylor upset Duke ... that scenario modeler was cool.
2s2b

I-Man said...

Thx CV, but I-Man must humbly acknowledge that Singer is one of the sickest artists on the planet.

Cant really touch that one.

But I got pretty good handwriting, I will say. Got that from me Ma.

CV said...

@2s2b

My pride extends (EXUBERANTLY) to the realm of FOOTBALL...

I dabble in baseball (and can sometimes hold my own due to 'technicalities')... HOOPS? It's all LUCK for me...

WORLD CUP Soccer?

Now WAIT A MINUTE...

If LB & I-man don't immerse themselves in this then CV is going to have a problem...

If they DO... I'll have a larger problem (beating them)...

I DO know a thing about "calcio" (soccer) from living in Italy for 12 years (and TRAINING AC Perugia)...

Il mio "squadra di cuore" (Inter Milan), just won the Champions League... (I used to train a former goalkeeper of theirs - Gianluca Paglialuca)...

Italia is REIGNING World Cup Champions... So CV has "some" credibility here...

For you "AC Milanisti" here (I also trained Paolo Maldini)...

And for you "Japonese" here (I also trained Hidetoshi Nakata)...

"Scottcese"? - (Glasgow Rangers) - I offer you - MARCO NEGRI (Who I'm sorry only worked with for a year)... But I think he DID make some goals for you...

CV said...

@I-Man

It's MORE than just the pen strokes...

It's the "Jah Love" behind them...

I-Man said...

True dat, mon.

As for World Cup, I'm in for sure... I dont know much myself really, but I know that Spain will probably win it all, because Messi is just plain unbelievable.

bob said...

CV,

What is it with DEVO? I know quite a few people on the internet who are constantly bringing them up, one of my favorites is a poster on a lot of boards called skippy.

Weird times we are in.

Can't do world cup, as with the final four, as soon as my team looses I completely loose interest.

CV said...

@bob

Perhaps it's "socio-economics"?

DEVO = "De-Evolution" (by nomenclature)

Maybe you have an UNCONTROLLABLE URGE?

http://www.youtube.com/watch?v=ZRENoPisFYk

Or, maybe you're in need of some FREEDOM OF CHOICE (that you need to whip)?

http://www.youtube.com/watch?v=0gcvhmT0-ls

McFearless said...

Some Monday night tunes:

http://www.youtube.com/watch?v=Jj6yXxVc21Y

CV said...

@bob

Or maybe you just think...

"It's All Good"... (That's GOOD)...

http://www.youtube.com/watch?v=XkZwHVM64qg

McFearless said...

Also, I'm hooked on this album:

http://www.youtube.com/watch?v=1TwqE2X55Wg

AmenRa said...

ummm Dow futures just shot below 9900.

Somebody better tweet Katie.

AmenRa said...

aww damn Singapore just said there was an oil tanker collision off their coast.

DL said...

Yeah, judging from the futures, it does look like we're going to be getting a bit of a "whoosh" down tomorrow.

CV said...

@Amen

Katherine? KATHERINE?... K-A-T-H-E-R-I-N-E... K-A-T-H-E-R-I-N-E...?

McFearless said...

I'm skeptical of EWI's count but they've got us going into a third of a third tomorrow ....

DL said...

CV,

Your exuberance is really coming through this evening.

AmenRa said...

CV

I'm trying to see if ES will break Fridays low before I crash and dream of green shoots.

CV said...

CV will have smile on his face...

Until the SEC trots him off to PRISON...

Any of you kno a good lawyer?

"I'm just askin'... YEAH YEAH YEAH YEAH YEAH YEAH YEAH YEAH YEAH YEAH YEAH YEAH YEAH YEAH YEAH YEAH YEAH... (we dance this mess around - B-52's)...

CV said...

@DL

I'm going to enjoy this evening...

It may be my last before the SEC carts me off to prison...

AmenRa said...

CV

At least you're not the guy in Kansas who tried to unload 75k ES during the "flash crash". He just wanted OUT.

CV said...

@Amen Ra

Kansas?

Kansas is CORNY?

http://www.youtube.com/watch?v=dRJ6-VquMB8&feature=related

bob said...

http://www.youtube.com/watch?v=IlbNgBIiH30

I found this a while ago. The video isn't that great, but the fact that she gets on stage with just her and a piano and makes that much music, with such complicated rhythm, is amazing to me.

bob said...

Has anyone else run across skippy in any comments? If you do it's worth reading, a few times. It might bring on an acid flashback in the right person.

Anonymous said...

McF,

Would agree with Anon on the problems in India. Too much disparity, too much poverty, and believe it or not, actually in most places, WATER is FREE. As a result you have wrong regions growing wrong crops. Price matters after all.

Your friend is likely to continue to do well. Lots of very very rich people. Also too much corruption. Some say, that the world's richest guys are Indians, after accounting for Unaccounted Wealth, that is. On top of economic disparities, you load on the religious, casteist etc differences and you have a kinderbox that is always waiting to be lit. Saddens me a lot, but I think, it is beyond repair.
Bull market in stocks is just one thing, which may happen sometime. But then, as we know, S&P at 1226 or whatever hardly means anything to the guy without a job.

And yeah, war with China over WATER is very much possible, though India will get nothing out of China.

Prashant

PS: Forget about diseases, people still die of hunger in India, almost every day. No one talks about that though.

Anonymous said...

Off late, I am seeing, that I am unable to access this site, or anything on Blogspot, say Dan's. Anyone else facing this problem??

Prashant

mcHAPPY said...

@Ben

I am skeptical re: EWI count as well, however, 1091 was .382 retrace if 1055.9 was the bottom of wave 1. Of course, we hit 1095.09 on the bounce back.

Today is quite simple for me:

If we break 1072 (and it appears we will) we cannot go back.

If we break 1055.9 we cannot go back.

mcHAPPY said...

If this is a 3rd of third I am looking for some testing of 1000.

@Ben

I would send that shot in to the bleachers. More importantly, everytime he went through the key what a smack lil' Timmy would get.

BinT said...

Congrats CV, looks like you will inherit money this morning....

BinT said...

Interesting news this morning. quadrupling of fed excise taxes on gas. 5 billion in new taxes in California. Obama asked to give his peace prize back. Krugman asked to give his back ,too!

The North Koreans...the straw on the camel's back?

McFearless said...

Prashant,

thanks for the thoughts, probably just Blogger acting up again. We've all had some issues with posting during the day from time to time.

@Bruce,

and don't forget while today may be the North Korean focus, military exercises are being conducted by Israel while Obama boosts troops in the "region"

call me ahab said...

CV-

Wow- pretty damn impressive- as it stands right now- you called how Monday and Tuesday would play out pretty much on the money-

lay it out a bit and tell us how the CV mind came to these predictions-

inquiring minds want to know

McFearless said...

Released on 5/25/2010 7:45:00 AM For wk5/22, 2010
Prior Actual
Store Sales - W/W change -2.5 % -0.8 %
Store Sales - Y/Y 2.9 % 1.3 %
Highlights
ICSC-Goldman reports a sharp slowing in retail sales during the May 22 week, at a year-on-year same-store pace of plus 1.3 percent vs. 2.9 percent in the prior week and the lowest pace since February. Week-on-week, sales fell 0.8 percent. The report cited regional weather effects, uneven traffic, and lack of discretionary spending for the slowdown. Redbook is up at 8:55 ET.

CV said...

NEW THREAD UP

call me ahab said...

b22-

to add to your post- maybe this has something to do w/ it-

"Long-Term Unemployment: No Help For The 99ers

money line-

More than a million people will probably be in Blake's boat by the end of the year. She's one of 19,000 in Maryland to have exhausted all available benefits, according to the state's labor department. As of last week, 65,400 people had exhausted benefits in New York -- up from 57,000 at the end of April. In Michigan, it's 34,900. In Illinois, 22,000. In Pennsylvania, 35,200. In California, 110,609. In Florida, the number had climbed to 130,000 before May and currently stands at 193,000.

CV said...

NEW THREAD UP

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