TRADERS ANONYMOUS: Morning Audibles 5.7.10

Morning Audibles 5.7.10 - You've Been MacGrubered

I heard many different anecdotes of people trying to log in to thier online accounts during the "Flash Crash" (as they described it)... Some made it in, some didn't, then most of the exchanges decided to nullify all trades which exceeded 60% on the move...

All of this is just funny to CV... Well, really not funny, so much as sad...

Anyone want to HEAR what it sounded like in the S&P Pits?

Andy T wrote (in the comment section), that an incident like that which occurred yesterday exposes where the WEAK BIAS is in the system... Truer words have never been spoken...

I'm not simply talking about TRADING ALGORITHMS here, or EXCHANGES... I'm referring to our entire financial system (which - is is in the throes of trying to be guided by "invisible forces" that they call PPT's, and QE's, and other things that only sophisticated IVY LEAGUERS are supposed to know about)...

They're all geniuses! Just like this guy here... (CV anticipates the same eventual conclusion to the story)...

370 comments:

«Oldest ‹Older 201 – 370 of 370 Newer› Newest»

CV said...: @karen (1:48)

Thanks...

&LOL :-); May 7, 2010 at 1:51 PM
McFearless said...: Jeremy Piven looks a little bit like The Boss on the still for the video.; May 7, 2010 at 1:51 PM
AmenRa said...: CV

We'll have a weekly 3LB reversal. Not trending...yet.

You'll need another lower weekly close to confirm and then one more lower weekly close to trend.; May 7, 2010 at 1:52 PM
mcHAPPY said...: The following comments were extremely popular last spring and summer but have virtually disappeared since the push higher after January correction:

This is a bear market rally.

This rally built on a foundation of sand.

We are waiting for the Wile E. Coyote moment.

This is nothing more than a dead cat bounce.

Valuations and fundamentals do matter.

Owning C is dangerous.

You can lose on in the market, be careful!

Did I miss any?; May 7, 2010 at 1:53 PM
karen said...: Just got a text from a friend asking me if i was buying anything ! LOL

I replied, "Eff no!! this is not bargain hunting time.. this is get hell out, imo."

Similarly, received an email from husband questioning my still lack of interest in USEMX (emerging markets) for some idle money we have.. because it is down 11%.. I sent him the long term weekly chart and put forth two scenarios.. he agreed, we wait.; May 7, 2010 at 1:54 PM
DL said...: Did a quick trade today with crude oil (CLM0). Captured a 40-cent move.

Whoopee.; May 7, 2010 at 1:54 PM
Mannwich said...: Nothing, DL. I just said his pony tail was "sweet". Complimentary, no?; May 7, 2010 at 1:55 PM
CV said...: @DL

Whoopee (cushion); May 7, 2010 at 1:56 PM
AmenRa said...: AND

since we're already closed below the monthly 3LB mid at 1141.16 the chances for a monthly 3LB reversal have increased. A close below that (1095.63) and you may not need to wait for the weekly to start trending.; May 7, 2010 at 1:57 PM
Leftback said...: Karen,

Only a peek today, but your TOP? Absolutely delightful....
Although LB was thinking that in the SHORT-TERM,
The KT might become a PERFECT BOTTOM. In the tradeable sense...

:-); May 7, 2010 at 1:57 PM
McFearless said...: McHappy,

Can't forget about green shoots, remember how the "sprouts" of economic recovery were being "seen", it indicated "healthy skepticism" but belief that things would be better.

now, we have a full bloom jungle....

think Robert Barbera; May 7, 2010 at 1:59 PM
I-Man said...: How can anyone be thinking dip buy when we had the spasm we did yesterday...

If it was just a blip, wtf arent we up 1.5% across the board?; May 7, 2010 at 2:00 PM
mcHAPPY said...: AHHHHHHHHHHHHHHHHHHHHHH!

How could I forget about the green sh*ts, er, green shoots.

Now I finally understand the expression, "It's a jungle out there!"; May 7, 2010 at 2:00 PM
QQQQTRADER said...: @MCF

Who's buying?... I bought today, bought more ED for the 401k. Now 80% PTRAX, 20% a few stocks (ED, VCV, etc...) which I believe are "somewhat" inflation proof (if that's possible). Ain't receiving massive gains but each QTR I'm positive and sleep well at night :); May 7, 2010 at 2:03 PM
CV said...: @Amen

CV looks at it this way...

- 1110 was the .09 (from 1219.8)
- low print yesterday was 1065.79
- 61.8% (from 1110 - 1065.79) is around 1082
- Theres a large gap (on the minute charts) in the 1082 range

We're going to see that number... & if we see it on a close, all these BEARISH 3lb scenarios come into play...

That's just how I see it...; May 7, 2010 at 2:03 PM
DL said...: What drew me to crude oil today was the observation that crude has already re-tested its lows ($74.60) from yesterday. At the same time, of course, the SPX is a long way from retesting its lows.

Where's Nic to explain all this to me?; May 7, 2010 at 2:04 PM
Leftback said...: LB believes that an EXIT RALLY will be manufactured by the Street.

As the exit rally is proceeding, we suggest that Katherine begins to obstruct the entrance to the dwelling to prevent unauthorized ingress.; May 7, 2010 at 2:06 PM
Leftback said...: IOW,

KATY BAR THE DOOR.; May 7, 2010 at 2:07 PM
DL said...: I just want to say, for all you MOTHERS out there,

Happy mother's day.; May 7, 2010 at 2:07 PM
karen said...: DL, i am so worried about you.. look at USO.. where do you see that bottoming.. pls tell me.; May 7, 2010 at 2:09 PM
DL said...: “Katherine begins to obstruct the entrance to the dwelling to prevent unauthorized ingress”

Yeah, good thing you clarified that.; May 7, 2010 at 2:10 PM
I-Man said...: y u use dem big werds loftbak?; May 7, 2010 at 2:10 PM
I-Man said...: 1085 or bust... that 1min gap from yesterday will not stay open.; May 7, 2010 at 2:12 PM
McFearless said...: @I,

I don't get it either, I keep seeing discussions about values, nutso.

@QQQ,

inflation proof? Cali Muni's? I'm not sure where to start....; May 7, 2010 at 2:13 PM
Nic said...: I am back, thunderstorm ended my run.

DL the crude pit is about to close and I have a rule about not touching crude outside pit hours so even if the low breaks I won't take it, thin liquidity can be ugly. They tested the lows but they held ... for now. I know a lot of crude traders holding longs and in pain so we will see what happens next week and if they get their relief rally.; May 7, 2010 at 2:13 PM
Nic said...: Prechter fans this is for you:
http://www.reuters.com/article/idUSNYG00359120100507; May 7, 2010 at 2:14 PM
I-Man said...: If longs are lucky, we'll get an afternoon respite at 1106-1108 to close the week...

But I wouldnt bet on it.; May 7, 2010 at 2:14 PM
DL said...: Karen @ 2:09

I don't like USO. But I think it's O.K. to buy $WTIC at $75.

Of course, as always, it's a question of time frame.; May 7, 2010 at 2:14 PM
McFearless said...: oh, and as for who's buy Q's, you said 401k in your post.

Let's just take a guess at how many schmoes got into their 401k today to direct all fiture contributions into PIMCO Total Return....as one example.

My guess....a few, but not the net.; May 7, 2010 at 2:14 PM
Mannwich said...: Here we go again.; May 7, 2010 at 2:14 PM
McFearless said...: From Nic's link:

"U.S. stock markets will erase their past six months of gains "in a matter of weeks," said Prechter"

Hmmm, like I just said, if everyone thought a crash was imminent, there wouldn't be one of course.; May 7, 2010 at 2:17 PM
Nic said...: Canada's finance minister Flaherty has called a media conference for 16:15 after stock markets close but BEFORE most FX brokers close.
If you have a CAD position you might want to take a look at your stops ...; May 7, 2010 at 2:18 PM
McFearless said...: the move up off today's lows is clearly only three waves, the direction is down; May 7, 2010 at 2:18 PM
DL said...: Nic @ 2:13

My question isn’t simply whether oil is going up or down, but rather about the discrepancy between oil and the SPX. Oil has already retested its lows from yesterday, but the SPX has a long way to go before that happens.

It suggests to my little brain that the downside risk for oil isn't as bad as that for the SPX.

I've never noticed this phenomenon before, but then again I've never looked for it either.; May 7, 2010 at 2:20 PM
Nic said...: DL I actually agree with you, if you have a shorter time view then buying here is a low risk trade.
Almost always though the low will be retested Monday before we move up.; May 7, 2010 at 2:20 PM
Nic said...: DL, what I don't like about buying now is if you pull up a 15min chart that is a classic bear flag; May 7, 2010 at 2:22 PM
karen said...: DL, that is just perfect.. if you think crude is OK at $75, i bet you will LOVE it at $60. At least we agree on USO, I don't like it either!; May 7, 2010 at 2:22 PM
DL said...: Karen @ 2:22

We have to thank Andy T for coining the term "money vampire".; May 7, 2010 at 2:24 PM
Nic said...: You got to think that there must be some pretty juicy stops just below 75 in crude? A stop run before a rally is just tooo tempting; May 7, 2010 at 2:25 PM
Bruce in Tennessee said...: CV:

You know, that Yuengling's Black and Tan is almost as good as a Mexican beer....

I have done major damage to the scrub pine population out by the barn.

We are going to eat oysters on the half shell tonight on the lake...Ahab threw a jones on the missus and me....

Later. More pine trees to slay...; May 7, 2010 at 2:26 PM
I-Man said...: Bingo, Nic.; May 7, 2010 at 2:28 PM
karen said...: USO isn't a money vampire.. it's an LP.. FAZ, VXX, SRS, those are the real bad ones..; May 7, 2010 at 2:29 PM
Bill Gross said...: "Let's just take a guess at how many schmoes got into their 401k today to direct all fiture contributions into PIMCO Total Return"

You are really not helping me get rich... oh, I am rich.
Do you remember the Tramp Stamp? I bet Greece has a Tramp Stamp.; May 7, 2010 at 2:29 PM
Mohamed El-Erian said...: Oh, for goodness sake, Bill. Leave it alone...!; May 7, 2010 at 2:30 PM
DL said...: "A stop run before a rally"

I never heard that expression before.

But for those who can watch their positions continuously, next week should provide more vacillations, and hence opportunities.; May 7, 2010 at 2:30 PM
Mannwich said...: Do we get another Mo-Mo Monday this time around? We'd better if they hope to keep the market from falling totally apart next week.; May 7, 2010 at 2:32 PM
DL said...: Karen @ 2:29

My hope is that Nic will convince you to open a futures account (for example, at Etrade) for when you want to short.; May 7, 2010 at 2:34 PM
Leftback said...: I think a Momo Monday is essential for an EXIT RALLY to be successful.

Karen, when shorting you can also go IN and OUT quickly....; May 7, 2010 at 2:38 PM
karen said...: "A stop run before a rally." That works both ways.; May 7, 2010 at 2:38 PM
McFearless said...: that's what I'm thinking, I don't trade oil, but a quick glance at that chart and you'd think a lot of stops around that 75. I'm tempted to map the charts to see if what DL is talking about in relation to SPX has any historical value as a predictor.; May 7, 2010 at 2:39 PM
McFearless said...: Wasn't e-trade down yesterday?

We may say it was one day, but why go there now if that was the case?; May 7, 2010 at 2:40 PM
Leftback said...: $75 oil and a $10 drop in a week has just put a great big hole in the side of the hyperinflation thesis. That is built-in deflation for a few months, and if we see $60 soon or after July 4th, then the bond market will be in great shape. Treasuries, at least..; May 7, 2010 at 2:41 PM
Nic said...: All of those markets with market makers, the energies and metals etc, their goal is to steal our money. So we wait for their tricks and trade with them.; May 7, 2010 at 2:41 PM
Leftback sympathizer said...: Karen,

You can always grab a hamburger at the "in n out burger" restaurant

http://en.wikipedia.org/wiki/In-N-Out_Burger; May 7, 2010 at 2:41 PM
DL said...: McFearless @ 2:39

Yes, please do that. I'm curious.; May 7, 2010 at 2:42 PM
I-Man said...: Nic, your 2:41 is money...

Got to think like your enemy.; May 7, 2010 at 2:43 PM
McFearless said...: DL,

I'll see if I can work on it over the weekend because I'm pretty interested to see what it looks like, interesting observation. We part ways on the long term but in the very near term you may be on to something there.

Oil to $20 :); May 7, 2010 at 2:44 PM
DL said...: McF

$20...?

Now I know you're trying to goad me.; May 7, 2010 at 2:46 PM
CV said...: @leftback sympathizer

I like FATBURGER better...; May 7, 2010 at 2:46 PM
karen said...: people in CA take the "b" and "r" off the In-N-Out bumper stickers.; May 7, 2010 at 2:47 PM
CV said...: SPX keeps knocking on 1110...

Gonna take it out one of these times...; May 7, 2010 at 2:47 PM
McFearless said...: no man, that's my target... it's above RP's for what it's worth.; May 7, 2010 at 2:48 PM
CV said...: If you took the "f" "b" & "r" out of FATBURGER...

You'd get AT URGE... (Tribute to Andy T); May 7, 2010 at 2:49 PM
McFearless said...: remember, I'm in the DEflation camp. Sometimes it seems so obvious to me I think I must be wrong, then I remember deflation is a 1 in a trillion according to the net.; May 7, 2010 at 2:49 PM
karen said...: i think the real crude stops are at 69-70. anyway, crude has already broken down and is trending down on the 13-34 ema chart.. today will make day three below the 50 ema, too..; May 7, 2010 at 2:51 PM
karen said...: CV, leave it to you! lol; May 7, 2010 at 2:52 PM
Leftback said...: Oil would already be $20 if not for QE, OPEC and STORAGE.

Karen, In-N-Out URGE ? ROTF....!!!

PPT Poll for today.

A. PPT shows up, then Momo MONDAY and a face-ripper.
B. Lloyd and Jamie argue over who has PPT. No PPT. Flatline.
C. There is no PPT.. (yeah, right!)
D. PPT has been replaced by the CLAVADISTAS.
E. KAREN shows a new icon, LB loses interest in market.; May 7, 2010 at 2:53 PM
Leftback said...: BUCKY is the driver of deflation.

GISELE didn't get that.; May 7, 2010 at 2:55 PM
CV said...: @LB

I'm waiting to see how far we drift from this 1110 level...

That's the .09 level from the highs...

Both the rally last July & in February started from that fibo retrace level...; May 7, 2010 at 2:57 PM
Mannwich said...: @lb: A and E.; May 7, 2010 at 2:57 PM
I-Man said...: And a level I-Man was particularly fascinated with on Sunday evening...

For good reason it appears.; May 7, 2010 at 2:58 PM
CV said...: Gisele doesn't have much DEFLATION going on (as far as her "top" is concerned)...; May 7, 2010 at 2:58 PM
McFearless said...: I'm gonna go with E
I think LeBron was almost on the the Euro check bandwagon as well.; May 7, 2010 at 2:58 PM
DL said...: As for what happens on Monday, I'd say the further we go down today, the more likely we'll get an impressive rally on Monday.; May 7, 2010 at 3:00 PM
CV said...: If there was any REAL interest in buying this market... TODAY... It would have done so at 1130 this morning (instead of giving it right back)...; May 7, 2010 at 3:01 PM
karen said...: i sold my vxx at 31, btw.. what a joke that was. volatility is another thing better traded in futures..; May 7, 2010 at 3:01 PM
McFearless said...: what are people showing as the low tick on AAPL yesterday?

I think our boy Cognos was trying to imply last night that he somehow bought at $199.

I'm curious if anyone here had orders that got filled yesterday during the flash crash, and if you did a market order, how long and at what price did it get filled?; May 7, 2010 at 3:01 PM
DL said...: CV @ 2:58

Ha Ha.

No doubt the trading ladies fully appreciate your humor.; May 7, 2010 at 3:01 PM
McFearless said...: VXX is a POS.; May 7, 2010 at 3:02 PM
CV said...: The only thing that would have me a little worried (about Monday), would be to see one of the classic last half hour RAMP JOBS up to 1130 just before the close...

I'd shut down the blog...; May 7, 2010 at 3:02 PM
Mannwich said...: ZH site about as reliable as Schwab the last two days.; May 7, 2010 at 3:05 PM
DL said...: Mannwich @ 3:05

A bit less consequential, however.; May 7, 2010 at 3:06 PM
Nic said...: ditto what Manny said.
A & E; May 7, 2010 at 3:06 PM
I-Man said...: @ B22

A friend had a GTC buy limit go off for 10K INTC at 20. Honored.; May 7, 2010 at 3:07 PM
karen said...: Ben, it doesn't matter about yesterday low tick of 199.25 on aapl, cuz we're going to see it again, and you can buy all you want! remember, we were just there two months ago..; May 7, 2010 at 3:08 PM
I-Man said...: AAPL intraday low from 5/6 = 199.25

And I betcha Cognoose is full of shit on that one.; May 7, 2010 at 3:08 PM
Mannwich said...: @DL: Yes, just a bit. ;-); May 7, 2010 at 3:09 PM
Mannwich said...: Of course he's full of a shit, I-Man.; May 7, 2010 at 3:10 PM
I-Man said...: As per the close...

I say shake em out down to 1101, and ramp back to 1106 for the weekly close.; May 7, 2010 at 3:10 PM
CV said...: @I-Man

I haven't been around ZH or TWSWB the past few days...

Any sign of Wanger or Cognoose?; May 7, 2010 at 3:11 PM
McFearless said...: I'm assuming most were honored as long as they were not on the 60% list?; May 7, 2010 at 3:11 PM
Mannwich said...: @cv: Cognoose showed at TBP with a comment about AAPL and stop-losses, but no sign of the Wang Man.; May 7, 2010 at 3:11 PM
McFearless said...: Karen,

AAPL is going below $80....yeah, that's what I said.

I don't believe that guy either, unless he had a super computer I don't believe for a second he bought at 199, and considering how bullish he is, I highly doubt he had a GTC down there....there is no way you could have been quick enough by hand to get that price yesterday, it appears to have been then a few seconds.; May 7, 2010 at 3:13 PM
CV said...: @karen

I have to say that it's a pleasure to see your top again...; May 7, 2010 at 3:13 PM
I-Man said...: @ CV

Nah... dont really stop by the comments section of either.

I'm a Survivor Capital/My Big Trading Log/MacroMan/Anonymous Monetarist kinda guy...

With a little Dread Capital and Singers Market to round it out.; May 7, 2010 at 3:13 PM
Anonymous said...: So I'm watching CNBC and senior amateur economist Steve Liesman is talking about how he thot buying commodities like CL was a risk aversion trade...wtf? Where do they get these people! The only reason why I watch anymore is for Santelli and sometimes Sharon Epperson (only bc I like seeing the oil pits).

Currently breaking 1110...would like to see some follow thru into the close. Of course they could be dusting off the PPT or JPM/GS SPY machine.

LB, if you're around, would you be comfortable hedging long bond exposure into the weekend? Obviously would have been better earlier in the day, but the TLT has been en fuego and at this low of a yield I'm scared of the PPT coming in.

-Drew; May 7, 2010 at 3:14 PM
DL said...: I may decide to submit a limit order on Sunday night to buy an S&P contract at the 1085 level (or so); and then hope that when I wake up in the morning, my account hasn't dropped by $5000.; May 7, 2010 at 3:15 PM
McFearless said...: come on 2% down S&P by the close!; May 7, 2010 at 3:16 PM
CV said...: @I-Man

I just noticed something...

If you use 1110 as a basis... Yesterday, when the market bounced from the lows & went up, it came back an bounced again at 1110...

Now if you take the TRENDLINE from yesterdays highs to todays high (& lower highs)...

You basically have a PRICE CHANNEL

You need to look at it on 1 min charts...; May 7, 2010 at 3:18 PM
McFearless said...: touching top of the big triangle started yesterday, which way does it go....; May 7, 2010 at 3:20 PM
Nic said...: Better hope Greece doesn't default tomorrow then DL; May 7, 2010 at 3:21 PM
karen said...: a cold chimay in the 71-75 degree sunshine is going to taste so good in another 35 minutes!; May 7, 2010 at 3:25 PM
AmenRa said...: For the record I don't think I've ever seen the weekly & monthly 3LB reversal taken out in the same week (much less the same day). It didn't happen in 2008.

Wait...yes it did. The 1st week in Jan 08 had a weekly 3LB reversal and closed below the monthly 3LB reversal. It held through the end of the month and there was not another monthly 3LB reversal until July 09.; May 7, 2010 at 3:25 PM
AmenRa said...: ...so the bulls better pray it doesn't hold.; May 7, 2010 at 3:26 PM
karen said...: just peeked at jnk on the 60 min for a hint.. top is in for the day..; May 7, 2010 at 3:28 PM
CV said...: @McF

The "tip" of the triangle you refer to at (3:20) is pointed at 1110 (if you make it a exact equilateral from yesterdays lows)... ;-); May 7, 2010 at 3:28 PM
72bat said...: nic -
any follow up on the drachma printing tip?
my local greek friend blanched when i dropped that tidbit on him; May 7, 2010 at 3:29 PM
karen said...: i'm still completely ill at ease with a pit in my stomach.. go ahead, DL, use me as a contrary indicator..; May 7, 2010 at 3:29 PM
I-Man said...: CV-

Take the high from the candle on Karen's Top day, I think it was 10/21, and draw a trendline that connects to the 1044 Takuri low from 2/5... extend it into space...

Now, take the Jan high from 1/19 and draw another trendline, connecting to the high from 2/19... extend it into space...

Those two lines converge sometime next week at approx 1020.

Thats my target.

As for next week, I think the SPX cash will open next week around 1085... but I think that will probably be the high print.

JTOL.; May 7, 2010 at 3:29 PM
McFearless said...: C,

I'm going to start to call you Pythagoras; May 7, 2010 at 3:29 PM
CV said...: Nobody has made any comments about CV's "Tilapia Farm" that I built in 3 days...

:-(; May 7, 2010 at 3:30 PM
CV said...: using the "Pythagorean Theorem"; May 7, 2010 at 3:30 PM
Nic said...: No Bat, re Drachmas, I won't speak to the guy again until Monday London open unfortunately. But you can be sure I will ask; May 7, 2010 at 3:30 PM
Nic said...: Good grief you have built your tilapia farm already? Well done; May 7, 2010 at 3:31 PM
DL said...: Karen @ 3:29

I think we'll see enough selling next week to scare a lot of people. Just not sure it's going to happen on Monday.; May 7, 2010 at 3:31 PM
McFearless said...: I-man,

I like where you are going. I'm really getting spooked this will happen evern faster than I thought. Holy Schnikes.; May 7, 2010 at 3:32 PM
karen said...: CV, i find farmed fish revolting.. won't eat it unless tricked or lied to..; May 7, 2010 at 3:32 PM
McFearless said...: there's the 2%......1/2 hr. early.; May 7, 2010 at 3:33 PM
McFearless said...: Karen,

how about some nice fish from the Gulf?; May 7, 2010 at 3:33 PM
AmenRa said...: HAHAHA just heard Obama praising the NFP. I guess someone didn't tell him that B/D added 188k and Census added 66k for a net of 36k jobs. Smoke on that O.; May 7, 2010 at 3:34 PM
I-Man said...: All that negative chart speak being said,

just had my SPXU-ers close out half their positions into the weekend...

Reducing risk.; May 7, 2010 at 3:35 PM
DL said...: CV @ 3:30

You just made me think of a calculus teacher I had in college. Couldn't understand a word he was saying

For example:

"Vee vood like to use... ...peesagorean serum"; May 7, 2010 at 3:35 PM
karen said...: i'm a salmon, halibut, ahi girl.. not in any particular order.; May 7, 2010 at 3:37 PM
McFearless said...: I can't do a call here so I'm packing it in for the day.

This looks like a fourth wave to me, we'll see a fifth next week, perhaps the triangle goes into Monday, if this is all corrective, I still wouldnt' buy the call right now.

I think most people here figured as much:

http://www.zerohedge.com/article/cme-issues-press-release-confirms-no-fat-finger-will-cnbc-issue-retraction-repeated-factless; May 7, 2010 at 3:37 PM
bob said...: What about winter CV? Planning on frozen fish stix?

Really, what are you using for the containment? How/what do you plan to feed them? How do you plan on harvesting their 'fertilizer'?

I have heard a lot of enviro foodies talk about talapia as the best choice.; May 7, 2010 at 3:38 PM
CV said...: @Nic

3 days baby!

- A 300 gallon main fish tank... (to house 20 pounds of adult fish)...

- Another 300 gallons of fresh water storage (which is fed through valves that collect rain water off the roof)... This "collection water" is used to BALANCE before adding to the other tank and as a backup...

- Another 300 gallons as a FRESHER water bath for fish to stay in for a few days before harvesting (to reduce nitrates & ammonia)...

- A 175 gallon tank for "fry" incubation (nursery)...

64 sqare feet of rafted gardening area (nutrients supplied by the fish...

and all the pumps & valves to oxygenate & filter...

Plus, a solar powered system to run the pumps & a wind powered system to back that up (1000 watts total)...

Built it all in 3 days!; May 7, 2010 at 3:38 PM
I-Man said...: Anyone ever want to catch a salmon or steelhead, they know who to call...

Or email, as it were...; May 7, 2010 at 3:39 PM
CV said...: @karen

People may have to change their attitudes about fish if this gulf thing gets out of hand...

Mostly, anyway, the fish are used to fertilize the hydroponic garden...

It's an ECOSYSTEM...; May 7, 2010 at 3:41 PM
CV said...: @bob

It's indoors...

Talapia need around 80 degrees or they won't survive... Indoors, and it only requires about 40 watts to run the heaters to keep the water temp regulated...

If need be... I can shut down operations in the fall and winter and save about a dozen or so fish to repopulate later... A female Talapia will give off about 100 fry (because in nature, the survival rate is only about 1 in 100)...

But there are no predators here...

Also, many use Talapia because they aren't so delicate, and manage to survive with fairly large fluctuations in water temp and balance...; May 7, 2010 at 3:46 PM
72bat said...: cv -
at the rate you add capacity to the farm, you may need to bring in extra hands to help maintain it all... lb's twins come to mind; May 7, 2010 at 3:47 PM
CV said...: @bob

Containment are large "food grade" polyethelyne tanks... For the large tanks... Then regular aquariums for the nurseries...; May 7, 2010 at 3:47 PM
CV said...: @72bat

I'm telling you... This whole ECOSYSTEM one could actually do in an apartment in downtown Manhattan...

You don't need soil, fertilizers, or anything... And the Rain you can collect from the roof...

It uses 2% of the total water that regular gardening does...; May 7, 2010 at 3:49 PM
bob said...: very interesting idea. It would also be good to build that over a hydroponic garden of other sorts as a heat sink for nosy flyby FLIR.

If only I had the balls to be a criminal.; May 7, 2010 at 3:49 PM
CV said...: Well it figures...

We're going to stop right on 1110; May 7, 2010 at 3:50 PM
DL said...: Not a very impressive selloff, I would say.; May 7, 2010 at 3:55 PM
McFearless said...: C,

That's pretty cool man, but yes, what do you do in the winter? Ice Fishing?; May 7, 2010 at 3:55 PM
McFearless said...: more from over at ZH:

10:13 (Dow Jones) CME Group dumps more cold water on the fat-finger rumor mill, saying it didn't "appear" any of its clearing firms or customers "experienced any technological failures or trading errors" during yesterday's market gymnastics. The all-clear from the exchange operator comes after it said late yesterday that Citigroup - the focus of intense speculation over an alleged erroneous equity-index trade - had done nothing "irregular or unusual". CME says its markets
functioned "properly", with all clearing
members in good standing. CME down 1.5% at $317.77.; May 7, 2010 at 3:56 PM
CV said...: @McF

WINTER...No man...(read above)... The tanks are in the basement... They're indoors...; May 7, 2010 at 3:57 PM
DL said...: McF @ 3:56

I don't get the sense that there's anyone who's enthusiastic about taking credit for the screwup.; May 7, 2010 at 3:59 PM
AmenRa said...: Ben

The joke is whether CNBS will retract their statements from yesterday.; May 7, 2010 at 3:59 PM
karen said...: CV, you called it exactly.. 1110!; May 7, 2010 at 4:00 PM
Mannwich said...: Simon pulls GGP bid. Time to short CRE again?

http://www.zerohedge.com/article/simon-pulls-ggp-bid; May 7, 2010 at 4:01 PM
McFearless said...: Ra,

yes, hilarious.

DL,

Sorry, i can't read your 3:59, i have tears in my eyes over your 3:55.; May 7, 2010 at 4:03 PM
72bat said...: cv -
got all that, i've seen articles on self-contained, self-fertilizing aquaculture-hydroponics. would love to have a basement to put one in for myself.
i'm just thinking with all the fish to be harvested, eggs to be collected, veggies to be harvested, wood-burning ashes to be hauled, seasonal maintenance, etc. that the ever-busy c-man prolly could use helping hands like the twins ;^); May 7, 2010 at 4:03 PM
karen said...: CV, sorry to ask.. what is the significance of 1110 again? i do like those 1s and 0s, not quite as much as 1101..; May 7, 2010 at 4:05 PM
DL said...: McF @ 4:03

I would have liked to see a bigger selloff today. Would have given me more confidence to buy on Monday.

Sort of in the "grey area" right now.; May 7, 2010 at 4:05 PM
McFearless said...: A MUST watch video:

http://globaleconomicanalysis.blogspot.com/2010/05/rep-alan-grayson-you-own-red-roof-inn.html; May 7, 2010 at 4:07 PM
karen said...: Ben, i was watching that.. got almost to the end and accidentally clicked refresh!! i hate myself sometimes.. and btw, i posted that CME commentary a long, long time ago (today).; May 7, 2010 at 4:08 PM
I-Man said...: Its the top of your "ZONE"... Mistress... not your top, per se...

I-Man calls your zone 1110-1090, but I'm open to other interpretations.; May 7, 2010 at 4:09 PM
I-Man said...: Alright, I'm off for a veggie burger. Catch yall lates.; May 7, 2010 at 4:10 PM
McFearless said...: karen,

the end is the best part!

DL,

I'm just playing, I know you didn't mean 500 pts in two days was small.; May 7, 2010 at 4:10 PM
CV said...: @karen

1110 = .09 (fibonacci extension) from 1219.80...

It's VERY significant - IMO considering:

- In June-July '09, the 956 peak was retraced to 879, a .09 extension...

Basically, the TWO largest pullbacks since the March '09 lows hit that number...EXACTLY

Right now, we're EXACTLY on another at 1110...

- In January '10, the 1150 peak retraced to 1044, the .09 extension was 1042.5...; May 7, 2010 at 4:10 PM
CV said...: We're going LOWER on Monday (at least, on the open)... CV says it right now...; May 7, 2010 at 4:13 PM
Mannwich said...: @cv: I'm also less convinced now that we get a rally on Monday. What if we just get steady, consistent selling now like we had recently with the buying? What if the switch has basically been flipped? What if we slide below 1,000 on the S&P and just float around sideways as apathy sets in due to lack of trust & confidence in the legitimacy of the markets?; May 7, 2010 at 4:15 PM
McFearless said...: agree C, wave 5....we are still in 4 right now, I think it's the best count. Looking forward to anything AT puts out on Sunday.; May 7, 2010 at 4:15 PM
McFearless said...: the most impressive monday rally we've had the last several was this week.; May 7, 2010 at 4:16 PM
karen said...: Ben, you need the Marketwatch spin on that!

"Dow industrials' 141-point decline caps 4-day plunge of 772 points"; May 7, 2010 at 4:17 PM
McFearless said...: there isn't going to be any floating around sideways....volatility is here.; May 7, 2010 at 4:17 PM
DL said...: Didn't go short at all this week, but managed to make a bit of money anyway.; May 7, 2010 at 4:18 PM
karen said...: Thank you, CV and I-Man.. : ); May 7, 2010 at 4:19 PM
AmenRa said...: Next weeks CFTC report should be interesting :0); May 7, 2010 at 4:19 PM
McFearless said...: lol Karen,

I'm out of here folks.

Everyone have a great weekend.

I'll enjoy myself for two days, feels good, but we need to keep our game faces on as we talked about yesterday. time to snuggle up with some charts.; May 7, 2010 at 4:20 PM
Leftback said...: Drew,

Sorry about delayed response - fingers flying!! Re: Treasuries etc..
So bear in mind we are very incremental, like most bond investors.

Late on this week we have unloaded 5y Ts that we bought at 2.75% ish. We also unloaded some long bonds we had bought at 3.95% ish, this after looking at the TLT chart, which we read as short-term bearish, 100 peak, 98, lower high. So basically we have been raising a bit of cash with a view to the auction ahead next week.

The main FI portfolio is basically AGG + TLT, and the moves we made this week were of the order of 5-10% of the total - as of today, in the trading/hedge book we added a pinch of HYG for a trade and some TBT as a hedge. These are tightly stopped!

We remain bullish on Ts and bearish on risk, but it was time for some rebalancing after a week of solid gains.; May 7, 2010 at 4:22 PM
Leftback said...: "time to snuggle up with some charts."

hmm... charts... or KAREN?

Charts....?
Karen....?; May 7, 2010 at 4:25 PM
Leftback said...: High probability of government/CB shenanigans over the weekend, note that the long bond has been quite weak all day long.

See both sides.; May 7, 2010 at 4:31 PM
bob said...: LB, what type of shenanigans? I thought for sure the fed were going to announce bigger swap lines with EUR and AUD today.

An opinion on what might possibly happen?

JCT not playing nice also leads to other conclusions.; May 7, 2010 at 4:36 PM
Leftback said...: "An opinion on what might possibly happen?"

Some kind of Hail Mary. Remember it took Hank a long time to run short of bazookas. The French and German banks must be lobbying like mad.; May 7, 2010 at 4:39 PM
bob said...: Well, they are playing for survival, zero sum game.

I had a thought that the best thing that could happen would be a US devaluation.

JCT is stuck between 1.250 and obvious BK for most EUR banks. He can't lower rates, that would devalue and put 1.255 in range.

He won't consider easing collateral rules, or maybe that was a UPOD.

Just trying to game what the possible options are, and can't find and winners.; May 7, 2010 at 4:49 PM
Leftback said...: The Bond Report 5.8.10

Wow. What a week. After a week of monster moves, today saw a moderate return of risk appetite to the credit markets, but not in equities. Since we usually think of credit as smarter than equities, this may be indicative of a short-lived bounce on the way. There was pronounced selling only at the long end of Ts today, and a lot of this may have been profit-taking ahead of next week's auctions of 3y, 10y and 30y. Junk and IG spreads to Ts tightened after yesterday's panic selling.

Corpies: LQD 0.32%; AGG -0.44%; JNK 0.80%; HYG -0.01%;
Govies: TLT -1.25%; IEI 0.02%; TIP -0.22%

We sold some 30y Ts, auctions ahead, profits in hand. We picked up some HY for a trade. With all our 5y Ts sold earlier in the week, we now have more cash on hand than for some time. We added a small hedge into the close as we head into a Momo Monday that may or may not materialize depending on governments and CBs.

The drop in crude this week is going to be bullish for Treasuries as a certain amount of extra deflation is now baked in the cake. We think that the Treasury market takes a pause here, but yields will stay low all summer. We really don't like TIPS, and think they will under-perform.; May 7, 2010 at 4:57 PM
CV said...: @bob

CV has figured out JCT's options... & here they are...

http://4.bp.blogspot.com/_uq2KcmM6MLM/S-Fj5Xlj6UI/AAAAAAAAA9g/Mj7cANLyEss/s1600/ecblisbon.JPG

NEW THREAD UP; May 7, 2010 at 4:58 PM

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Morning Audibles 5.7.10 - You've Been MacGrubered

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