Morning Audibles 6.23.10 - Roll With The Changes

I'm not in a particularly grumpy mood... (Nor am I really a "grump" for that matter)...


Headlines sure have a way of making one that way (Unless you tune into CNBC, like, yesterday at 3PM when the caption read "DOW ON TRACK FOR BEST MONTH SINCE MARCH." - I kid you not)...


So I like to intersperse "cranium cracking numbnutted-ness" (which is fed into your skull daily by the MSM), with another sort of HEAD BANGING, or WAILING, or whatever you want to call it... 


It's a SURVIVAL instinct, after all... What more could you expect from SURVIVOR CAPITAL?... Especially when the WAILING contains the proper message...





REO SPEEDWAGON

As soon as you are able, woman I am willing
To make the break that we are on the brink of
My cup is on the table, my love is spilling
Waiting here for you to take and drink of

So if you're tired of the same old story,
Oh, turn some pages
I will be here when you are ready
To roll with the changes, yeah, yeah

I knew it had to happen, felt the tables turnin'
Got me through my darkest hour
I heard the thunder clappin', felt the desert burnin'
Until you poured on me like a sweet sunshower

So if you're tired of the same old story
Oh, turn some pages
I will be here when you are ready
To roll with the changes, ooooh

So if you're tired of the same old story
Oh baby, turn some pages
I will be here when you are ready
To roll with the changes, baby,
Roll with the changes,
Ah you know you know you know you got to

(Keep on rollin') Oh yeah
(Keep on rollin'), oooh roll with the changes
Keep on rollin' (keep on rollin' keep on rollin')
Oh now roll with the changes oh baby
(Keep on rollin') oh babe (keep on rollin')
Oh you got to learn to roll with the changes
Got to, got to, got to, got to keep on rollin'
Keep on rollin', got to learn to, got to learn to,
Got to learn to roll

Keep on rollin', keep on rollin', oooh
Keep on rollin', keep on rollin', oooh
Keep on rollin', keep on rollin', oooh
Keep on rollin', keep on rollin', oooh, aah

---

What do we have here? 7 trading days?, More? G-20 meetings?, "Ass kicking?", "General Resigning?", "WH Budget Director Escape?", "Rats Leaving Ships?", "4th of July?", "England-Slo/USA-Alg?

CV is reminded of the thought...


"A Soldier of the Legion lay dying in Algiers,
There was a lack of woman's nursing, there was dearth of woman's tears;
The dying soldier faltered, and he took that comrade's hand,
And he said, 'I nevermore shall see my own, my native land'."


Stephen Crane - "The Open Boat" (1897)

Don't be depressed... Just pick up a set of drumsticks, and just beat a tune out... You can get real good at it if you practice! :-)


262 comments:

«Oldest   ‹Older   1 – 200 of 262   Newer›   Newest»
BinT said...

Have you looked at a graph of the CAC-40 for the last 5 years? How in the Sam Hill can you possibly make money in markets like these?

BinT said...

By the way, for the last few days I see a battery, a little red battery, at the bottom of the comments section? Have we added a hybrid to the website?

BinT said...

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aPPCY36J4H6k

S&P 500 Losing 50% Recovery Signals Caution in Charts

“It is an interesting zone,” said Stephen Suttmeier, a vice president in U.S. technical and market analysis at Bank of America Corp. in New York. “Our main view is that if the S&P doesn’t take out 1,150, the bears remain in control.”

BinT said...

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=afzOlG2CraWk

Iceland Cuts Key Rate to 8% as Krona Strengthens

"Iceland’s economy will return to growth in 2011, when the central bank estimates output will expand 3.4 percent. Gross domestic product contracted a record 6.5 percent last year and will shrink a further 2.6 percent this year, marking the island’s longest period of economic decline since records began in 1944."

...Gotta go, but IF Iceland can return to growth after two years, with all the problems we are aware of, I wonder what we'd look like today if we'd been more fiscally responsible in 2008. Heck, Leftback has underwear he hasn't washed since 2008, it isn't that long a time....

McFearless said...

"I wonder what we'd look like today if we'd been more fiscally responsible in 2008."

Only an illusion that this would have made any difference to our current state of affairs, there was a massive massive imbalance between cash and credit a decade before 2008, the monetary response by the Fed and Govt in 2008 was predicted by many, the same people that identified that our entire monetary system was f-ed way before 2008.

I think it's important to keep in mind that GDP growth is really not a very meaningful measurement, it does get a lot of press, I promise on Friday they'll even have a clock counting down to the release of it, oh the anticipation!!. I'd just encourage anyone that wants to challenge that point of view to take a look at Japans GDP since 1989 and they can let me know what they think about that.

McFearless said...

ha, Bloom just made note of a few statements the fed made last time, like these:

"housing starts are edging up"

"the labor market is showing signs of improvement"

yeah, we should be hanging on this crews every word.....what insight!

McFearless said...

well, big day for team USA....I may take a break in a few hours to check that out for a bit.

CV said...

I'm still waiting to see something out of the dollar here...

Nic said...

Karen .. we are in an abbatoir!
Bulls slaughtered at the open. Do you think everyone rushing to get done before football?
I have 1210 next stop for gold

Anonymous said...

new home sales numbers this morning should be interesting-

since it will be contracts written after the incentive expired-

should be woeful

Nic said...

Lumber tells you all you need to know about home sales

Leftback said...

I can't watch this, I really can't. I wanted Joe Cole in, not Milner, and if they stuff Stevie out on the left again, it's not clever.... I wish Matty Upson the best but in the EPL he is a penalty waiting to open. IF we can just look after the ball better, it will all work out...

Leftback said...

Pretty soon we will get NEW HOME SALE every month.

C'mon, England, and come on you Yanks, as well.

Anonymous said...

New Home Sales Down 32.7 Percent in May

hmmmm . . .I don't know- may be tough to spin that-

but I am sure CNBC will be working hard on it

karen said...

morning all! had one of those nights where i didn't sleep from 2-5AM.. should have got up and ironed.. anyway, finviz got me out of bed at 6:40 as I had to see this for myself.. 1090 just sliced.

Anonymous said...

"judge who nixed Obama's drilling ban has oil investments". www.theglobeandmail.com/report-0n-business/industry-news/energy-and-resources/

Most investors have some "oil" in their portfolio, so what?

Ethics, perception.

Lord Blankfiend said...

Eventually there will be one new home sale every year as I build a larger castle with a deeper and wider moat.

CV said...

I love how they timed that "whoosh" down move right with the kickoff time of the soccer matches...

10:00 on the nose...

karen said...

ordered one new iphone yesterday.. $199. CA sales tax $50+ (9% tax charged on unbundled price.)

Leftback said...

I say, Bears, knock it off, and watch the footie, please?

McFearless said...

uh....ruh roh....

McFearless said...

was sort of hoping these last few weeks that TLT would have provided another attractive entry level but not really....

Anonymous said...

should have got up and ironed

yeah- that always helps me get back to sleep- lol

McFearless said...

I've never paid for a cell phone....still rocking a free razr...and I have a blackberry storm for work, but I've been locked out of that for months, lol....one more password to remember.

Gary Shilling said...

Am I really nutty to be in the long bond? Who's laughing now?

Leftback said...

Today's data might take a toll on homebuilder stocks....

(smirk)

karen said...

ahab, rest assured that i do iron my dish towels!

Nic said...

Best warning sign a flash crash is imminent ... zerohedge is down (overloaded)

Anonymous said...

re housing- we may have been through the worst of this- had the markets been allowed to do their thing-

but the USG is always willing and able to slop shit up

McFearless said...

@Anon,

I heard the whacko radio host in DE that I listen to on my way to work talking about that judges holdings this morning....silly if you ask me, getting all bent out of shape and saying he shouldn't be allowed to rule based on his "financial interest"

if what I've read is correct he's got less than $15k in RIG (I've made or lost more money than that in a single day more times than I can count), he's not set to make some sort of fortune as long as drilling continues on other rigs in the Gulf...that's a joke, and further, you are exactly correct, find me a person that owns nearly any equity mutual fund and I can show you it's very likely someone that also has some exposure to oil, energy, or exploration companies within that fund.

Anonymous said...

damn Karen-

that's downright crazy! step back from that obsessive/compulsive behavior

Nic said...

Retail traders are getting long fx, contrarian signal means more down to come.
But someone apparently buying up everything in SPY ...

McFearless said...

"ahab, rest assured that i do iron my dish towels!"


My mom used to do socks, my sisters and I had to beg her to stop putting creases in our jeans....back in the day.

CV said...

@Nic

ZH isn't down from where I'm sitting...

karen said...

JNK looking too good on the six month bb chart.. JNK had a crossover into uptrend territory between friday and monday.. so now what, i wonder.. will it catch up on the down move?

Nic said...

At 1075 in S&P cash we have a "three drives pattern", three equal swings off the highs and I will get out of my shorts. 1077 the 61.8fib too.

karen said...

ahab, i've already pointed out that i am not obsessive, just passionate, about many things.. like KISSing, remember?

McFearless said...

I'm not going to do any trades for another hour....this open feels funny to me for some reason, but I should likely invert that emotion...my hands are shaking but I'm not taking action.

Leftback said...

JNK benefitting from lower Ts, and spreads are steady.

Nic said...

WE WUZ ROBBED ...
why am I watching football

Anonymous said...

have to head out-

all have a good day

McFearless said...

yesterday I showed maxcherry's fibo chart with the Trannies comparing now to 87....the s&p looks just about as clean with the comparisons.

Nic said...

McF
This open set up like flash crash day for me. same feeling

Nic said...

Thanks CV - ZH back now.

Leftback said...

European bourses in free fall....

Leftback said...

Nice one, Jermain. Now let's not sit back on the 1-0 lead....

CV said...

@Nic

I singlehandedly restored it to working order...

McFearless said...

Nic,

well, I was fully short for the flash crash, I have some cash on hand now though....sitting here pissed I hadn't added more short than i did at 1120, but gotta let that go.

AmenRa said...

Well considering how volatile the market is after the FOMC statement a flash crash could be in the works.

McFearless said...

I think you can count five down from those highs....this is probably not a b wave with a c to come higher like some were looking for....this could be andy's big C wave down instead, already started....the start of maximus horriblus....if EWI is right...then it'll be even worse and we'll be seeing an 850 handle on the S&P in short order.

McFearless said...

FTSE looking like its in deep shit to me.

Leftback said...

The market has never crashed on Fed day and it never will. Bernanke would go on TV waving free dollars before he lets that happen.

Look for a comment about indefinite easing on economic weakness...

LB does not want to game the Fed, will be flat by 2pm.

Nic said...

McF why do you not think a b-wave? I have to admit I am still in that camp

McFearless said...

and I suppose that count that says we could have an extended fifth wave down here is still certainly valid....all valid roads point to down...that's the bottom line.

it's gonna be stone cold steve austin for the bulls.

Nic said...

Could this be to scare out the bulls, and then we go up?

McFearless said...

Nic,

if this were a b wave as part of an overall A-B-C structure, where that C wave is going to take us up to the 1150's before we head down again it shouldn't really look like this....lets give it today though before we throw that count away...too early to do it at this point, it's just a lower probability after this morning.

McFearless said...

put/call somewhat tame to start the day....I wouldn't really call us oversold here in any great way.

I watched Bloom this morning, they changed the look of the tv program as well as the website...and they both suck.

Leftback said...

Remember FOMC day - Tale of Two Tapes.
Easy Ben loves hurting Bears...

CV said...

Stone Cold Steve Austin said...

"You rang"?

http://www.mattixmanor.com/uploads/Stone_Cold_Steve_Austin1.jpg

Mannwich said...

Should have at least two goals by now. Missed opportunities.

AmenRa said...

BF: Lincoln's amendment will make the final cut meaning banks will have to spin off their derivatives unit.

karen said...

Hilarious!

http://www.fundmymutualfund.com/2010/06/are-you-ready-for-some-futbol.html?

McFearless said...

from my view the market has been telling BB to get f-ed for a few months now...especially the bond market and the dollar.

but yeah, I'm sure the last fed statement which last time included gems like how labor market was getting stronger and housing starts were up should carry a lot of weight in the bizzaro world we live in.

Good luck "printing" another quadrillion Wizard boy.

CV said...

@BF

"Bite Me"...

(No WAIT........ Don't!)

I-Man said...

Tied up with training all morning... 1080 looks good for now.

Only sell limit open is up at 1091, hoping to get some fomc shenanigans to motor it up there.

1087.5 might be a more aggressive option tho.

McFearless said...

if England wins and we win then the US still stays in right?

CV said...

@BB

"Bite Me"...

Yeah... "Bite Me"

Mannwich said...

Yes, ben. Both would get in.

Easy Ben said...

Is a EURUSD bounce on easy Fed language too obvious here?

"Good luck "printing" another quadrillion Wizard boy."

Jolly good idea, let me tell the committee...

karen said...

Did you all read this? you probably should:

The following discussion is by Lakshman Achuthan and Anirvan Banerji, co-founders of ECRI: There’s been much attention to our work of late, culminating in a report this Tuesday from Bank of America listing several critiques of our Weekly Leading Index (WLI).

http://www.ritholtz.com/blog/2010/06/ecri-weekly-leadinbg-indicators-widely-misunderstood/

McFearless said...

so, I had to go over to BR's to read this speech last night...I came across this comment on another thread, and it is becoming evident that many in Canada slept through the US housing bubble, and all the nonsensical insanity type rationalizing people did here when real estate was going "to the moon"...forever. Here is the comment I refer to:


I’m sure many readers here agree with the fact that US real estate prices are artificially high – and hopefully sitting patient for their opportunity.

As a Canadian, however, I am sitting back and waiting on an additional factor to coincide with falling US real estate prices – a surging Canadian Dollar. The combination of these two factors over the next 12 – 30 months will give Canadians an opportunity to acquire prime real estate at prices we haven’t been able to dream about in decades.

Moreover, we Canadians deserve any such opportunity. As Barry says here http://www.ritholtz.com/blog/2010/03/more-foreclosures-please/ we should be rewarded for our banking and credit prudence.

Curious to hear if any other Canadians share my views on US real estate.

Regards,
George


bubbles always take a lot longer to explode than anyone thinks....folks like this earn their losses, I'm not changing my mind about that.

Nic said...

Gen. McChrystal reportedly has left the White House before a war planning meeting after only 30 minutes.
If his ass isn't fired I will lose even more respect for BO

Leftback said...

A lot better by England. More pace and commitment all round.
Beware the Algerians... Belhadj has a sweet left foot, so mark tight!

Nic said...

If the Fed gets easier then shouldn't the correlation break down and we go back to it being dollar negative and stocks positive? Harder to say what the dollar will do, it might trade with stocks.

karen said...

this is interesting!

http://yelnick.typepad.com/yelnick/2010/06/pushing-the-envelope-on-market-fractals.html

CV said...

@LA

"Bite Me"

@TWSWB

"Bite Me"

McFearless said...

don't you all think that McChrystal had to have known when he said that stuff that he would be removed from his position?

I mean, if there is anyone that I'd expect to be a strategic thinker, it would be him....right?

Leftback said...

Accutane's record is spotty. He failed to predict THE BIG ONE until it was almost over.

Therefore... TOOL.

McFearless said...

Karen,

I posted a link yesterday for that fractal analysis, it's really interesting stuff....new, perhaps groundbreaking.

karen said...

from stocktiming on trend of nyse new lows (not trending higher):

Not only are New Lows very low, but they were below 50 yesterday which is a bullish level rather than a bearish level.

The New Lows indicator is reactive and not predictive ... but still, it is like the thermometer people use to see if someone is sick or not. At this moment, the thermometer is saying "healthy".

http://www.stocktiming.com/Wednesday-DailyMarketUpdate.htm

Mannwich said...

That's what I think too, ben. It means, to me, he wanted a way out. If I'm O, I refuse the resignation for that reason.

All the players running around now covering their asses. Never a good sign. Imperialism (and arrogantly not learning from history) has its costs.

McFearless said...

I loved this on the fractal site as well:

How To Master Short Term Trends - " No Crazy Indicators "

Leftback said...

Caution.... the FED only has to hint at QE2 to weaken the dollar, for a few more days...

Ben's secret weapon is that once you have shown you have a massive bazooka, the mere threat of getting it out again can be effective.

He has room here, Treasury market is more than healthy. He could hint at more MBS buying and hose all the equity bears in the blink of an eye.

McFearless said...

Manny,

Perhaps he sees afghanistan as "unwinnable" and figured this was the easy out?

Leftback said...

USA v Algeria second half could be good. Both teams need to win...

karen said...

Where is the money going? from my buddies at NLY..

Naturally, this statement from the TBP post annoyed the heck out of me:

"The WLI is designed to be interpreted in this broader context, and its message today is quite simple: A slowdown in U.S. economic growth is imminent, but a new recession is not." Perhaps the unemployment rate (massaged as it is) could be an indicator?

CV said...

@LB

The more he continues to use that hose...

The harder the fall (in the end)...

CV said...

"Hose Me"

McFearless said...

we'll see lefty, the world is in a different place than it was at the bottom of the black hole in March 09, IMO. The bazooka idea didnt' exactly do wonders recently for the ECB did it?

I also highly doubt that the Fed thought that a year after their grand QE plan that the dollar would be breaking out as it has and further, I'm sure they are very worried about gold.

Further, there is greater dissention within the Fed about getting back to "normal" monetary policy...and you have Fed gov's out giving speeches about...the danger of the Fed?

McFearless said...

and left, like I said yesterday, there is a universal way to forecast bullishness now, which is saying the fed will print or perform QE.

reminds of that saying

if it's that obvious...it's obviously wrong.

CV said...

All I can say is this...

If the TOP of the chain of military command has that much contempt for the "civilian command" in Washington...

What does that say about the rest of the rank & file?

You have to be real careful if you're "Commodus", (I mean "Obama") here...

Leftback said...

I am just thinking day-to-day... market down, Ts are rich, there would be little to be gained here from a hawkish statement.

Gold they can take down any time by buying a few dollars over the weekend and asking prop desks to start selling the metal into the open.

Traders are watching the football !

karen said...

my charts are indicating a further drop for the euro.. fxe back to 118 seems a no brainer..

McFearless said...

understand left, I wouldn't be surprised by a bounce either, but I'm challenging this idea that new QE will have the expected outcomes....everyone is betting the same way on that idea...always makes me nervous to be in crowds....

McFearless said...

I read the ECRI thread...those guys predict the past....just like all the others, I doubt my view here needs much explanation. It's not a damn forecast.

karen said...

Last night's nightmare was the big one hitting so cal.. my house came apart.

McFearless said...

also, if anyone is interested, the fractal site has a free 30 day trial, I'm signing up over the weekend.

Leftback said...

McF: I am merely looking for a move that I can fade.....

Leftback said...

IF the ECRI published the first derivative of their indicator, Cramer would be under the desk again by now...

Karen, you could live in a LOVE SHACK on the beach, no worries...

CV said...

@McF

Yeah I saw that "sign-up"...

FREE is always good for CV

CV said...

Just ask Amen :-)

Leftback said...

American soccer fans are learning about the agony of the World Cup.

C'mon, England and USA... Rooney needs a sub, time for Joe Cole.

Leftback said...

Tick, tick, tick.....

Leftback said...

Leave it all on the pitch, boys. First to every loose ball.

karen said...

fromZH:

Here comes to dumbest news of the day - the New York State Comptroller, having forgotten that risk follows return courtesy of Bernanke and Obama's Global Put, has announced that the New York State Pension Fund will sue BP for the loss in BP shares. This is almost certain to lead to a massive surge in the troubled company's shares. According to recent 13F reports, the New York State Common Fund held 11 million shares of BP, at a end of Q1 value of $192 million. It is fair to say this value has been cut in half by now. If the NY fund is willing to sue a firm after it has lost about $100 million on a soured investment, things at the pension fund must be beyond bad.

Leftback said...

Keep the shape, England. Deny space. Bite in the tackle...

I-Man said...

Feeling a bit of a pendulum swing here... Just put a buy limit in at 1083, hoping to catch a swing up to 1089.

Then looking to short again around 1092ish... probably right around Fed time.

Leftback said...

Where's Bruce when you need a heart transplant?

AmenRa said...

MJ fibo
.09= 1110.02 (check)
.1459= 1041.83 (retest coming)
.1855= 993.53 (if break below 1040)

MN fibo
.10= 1097.82 (closed below on 6/22/10)
.1107= 1084.77 (will test today)
.1272= 1064.64 (fear begins)
.1618= 1022.44 (KATHERINE)

Leftback said...

WOW.

Landon Donovan, take a bow....

Mannwich said...

Holy shit. What a finish!

Anonymous said...

Congrats to you all. That was nice.

England sucks though.

Prashant

Leftback said...

Magnificent.

If Americans don't fall in love with FOOTBALL, they have no heart.
Congratulations to all involved - England and USA win.

Landon, mate, your agent needs to get busy calling Tiger's sponsors.

McFearless said...

man, that was pretty awesome. on to the next round.

Nic said...

Time for traders to get back to selling

Leftback said...

Prashant,

We may suck but we are in the last sixteen.... :-)
(But you do have Sachin Tendulkar)

I-Man said...

I'm trying desperately to ignore the game play by play...

Have it recording...

Sadly, ES takes precedence over futbol...

Nic said...

So England play 1st team in GroupD next and USA play 2nd team in D. D: Australia, Ghana, Germany, Serbia

CV said...

UFB Landon! :-)

Shortcrone said...

Nic, here is an article that might be of interest to you: http://www.weightymatters.ca/

Apparently all we have to do to combat childhood obesity is to place stickers on fresh fruits and veggies-and occasionally rocks.

Mannwich said...

I think I just fell for it, lb. Had always appreciated it on the periphery but it wasn't something I played as a kid. I was more hoops and baseball (and some football). Am really getting into this World Cup though.

Nic said...

EURCHF at 1.618 fibo extension. Good place for a bounce

Leftback said...

Despite some sub-par performances, England have defended as well as any team in the tournament (only conceded the Dempsey dribbler to the USA). Defence often wins championships, and every game is a potential elimination now.

By the way, all teams have weaknesses and Argentina's is their slow back four. But they are a joy to watch! Germany going through is by no means a certainty. Serbia and Ghana are well capable of getting the results.

karen said...

check the xhb.. clearly traders believe the bottom is in?

Nic said...

Thanks Short Crone, Its a pet peeve of mine.

I don't know if I posted this, but this absolutely made my blood boil this week: http://p2.to/Tzf
Because people living in the amazon jungle really need "branded goods" and sugar.

Leftback said...

Donovan deserves this, he has taken a lot of stick for playing in the US all these years, but when he was at Everton this season he was superb, and the fans absolutely loved his pace and commitment. The biggest result ever for USA, but tough challenges ahead.

karen said...

wish i hadn't clicked on that link, Nic...

Anonymous said...

Hehehe @ LB. Ya, we do have Sachin. But football beats everything. And ya, you got to have good defence if you want to win. But still, Lampard should retire and a NORMAL Rooney would have scored twice for every single chance he got.

Spain, Argentina, now they play beautiful stuff. Holland too, sometimes when they are in flow. Van Persie still to wake up, I think.

Prashant

Mannwich said...

Agreed, karen. Depressing. WTF is up with that?

karen said...

AR @11:48.. thanks for posting those numbers.. 1084 coming up in a few?

CV said...

So I take that pretty soon, all those people in the Amazon jungle will be saying:

http://www.youtube.com/watch?v=8-4P1WPE-Qg

karen said...

oh, i jinxed it!

Mannwich said...

Uh oh:

BREAKING NEWS 12:34 PM ET Oil Well Gushes Unchecked After Accident Forces BP to Remove Cap

AmenRa said...

Karen

It's coming. TPTB are holding the market up until FOMC. Then all bets are off.

Nic said...

ESPN2 is a Wimbledon match that is in the 5th set at 32-32 in GAMES, not points ...
something to do while I wait for BB

AmenRa said...

Ben (picking up red phone): Lloyd & Jamie WTH are you doing? Hurry up and get this thing higher before we release the statement.

Lloyd & Jamie: How come you can't call someone else?

Ben: You wanted it. You got it. Man up.

Nic said...

Can you believe two people died moving the oil cap? BP can't catch a break

I-Man said...

Just moved my stop up to 1086...

Still thinking I'll be able to exit above 1090...

Then get short again.

I-Man said...

Flat.

Curses...

Shortcrone said...

Nic, that is a depressing link. Maybe they could give them stickers too.

I-Man said...

In again from 1087... stop at 1086...

I hate to miss a good intraday squeeze into fomc... :)

Leftback said...

LEFTBACK is going to saunter out for lunch before the FOMC silliness begins. Have fun, all.

Mel said...

test...blogger eating my comments?

I-Man said...

I see ya Mel...

Obama said...

I'd love to have more bailouts, but those Republican tightwads in the Senate are standing in the way.

Anonymous said...

@Obama

Why don't you bailout?

(Of a cargo plane at 36,000 feet without a parachute)

karen said...

Nic, "Two people working on the oil-spill response effort died, but none of the deaths were work-related, Adm. Allen said. One of the deceased was working on a vessel of opportunity in the Gulf Shores, Ala., area, Adm. Allen said. The other was a swimming-related accident. Adm. Allen didn't say where the swimming death occurred."

McFearless said...

there is the I's 1090's.....there are people buying...this afternoon should be fun.

mcHAPPY said...

hard 2 type w/ babe in one arm.

i signed up for fractal. thanks for heads up ben. worth the free trial, me thinks.

Anonymous said...

"Haley wins republican nomination in South Carolina". Marketwatch.com

Bobby Jindal, governor of Louisiana.

Both of Indian decent, both changed their names and converted to Christianity.

Identity change for political expediency?

Politics is becoming a business. I thought politicians were public servants? Ha, I am dreaming.

Canand(India).

I-Man said...

McH,

Remember the 3 S's:

Shush, Sway, Swaddle...

I-Man remember's those days well.

Check out "Happiest Baby on the Block" if you can. It really helped us out. That, and white noise. (We used our monitor more for white noise than as a monitor those first few months.)

Enjoy this time! It goes by mad fast...

1L,
I

mcHAPPY said...

Thanks, I.

CV said...

Mel Gibson said...

I use those monitors to see if there are aliens making crop circles in my field...

CV said...

About 25 minutes and counting...

Gettin' ready for some kneein' & jerkin'

I-Man said...

To short at 1091.5 or 1093.5... that is the question.

Out of my long.

McFearless said...

I'd go with the latter, you'll make more and I think you can get it too.

Shortcrone said...

This is the limit! Why am I paying my taxes, again? http://money.cnn.com/2010/06/23/real_estate/money_stimulus_fraud/index.htm

72bat said...

McChrystal Stripped of Afghanistan Command

CV said...

@72bat

Pyle!

arbitrage789 said...

Anyone know exactly what McChrystal said in the Rolling Stone interview?

Easy Ben said...

It's 2pm.

Do you know where your HELICOPTER is?

CV said...

@72bat

Obama must not have liked his cologne...

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

McFearless said...

Peeps taken a look at the "Restoring American Financial Stability Act of 2010"

As to be expected by the likes of Dodd and Frank, it's completely insane; diversity czars, oversight panels....more mandatory lending.

What a bunch of ignorant assholes. P3 can't get hear fast enough...it's the best thing that could happen for regular people.

Mel said...

Damn...for a minute there I thought I had a few hours to myself...and comments on crops, circles, trading, re., music, I-man, humour, etc.

Now...not so much...and I'm the crummiest typist in the world...I'll have to catch up later.

Anonymous said...

Earth quake in central Canada and parts of the U.S.

McFearless said...

DL,

I think he basically called the administration unprepared...there were remarks about Biden (called him BITE ME), but I'm not sure it was McChrystal that said that....someone was referred to as a clown...or there was a group of clowns.

Basically the sort of thing most people say about their bosses behind closed doors.

McFearless said...

Yikes....I hear earthquake in central US and I start thinking about that damn nat geo special on our ....super volcano...but hey...Fed minutes...the world will stop at 2:15 anwyay.....

72bat said...

the sort of things people say with a reporter in the room?

arbitrage789 said...

McF @ 2:03

Yeah, I knew that much.

Sounds like McChrystal brought this on himself.

Leftback said...

Perhaps it was this dude that caused the quake:
http://news.bbc.co.uk/2/hi/world/us_and_canada/10385853.stm

CV said...

McChrystal knew what he was doing (and saying)

The rats can't flee this sinking ship fast enough...

- Orszag
- McChrystal
- Rahm

The only one left will be Timmay in the end...

CV said...

@LB

What could possibly go wrong there?

McFearless said...

wow, I'm struggling to be patient right now...i would love to see an initial pop at 2:15 to short....

Leftback said...

LB ponders a Tale of Three Tapes today.... ?

Remember the first ten minutes is a head fake.

karen said...

the quake was near ottawa:


5.5 2010/06/23 17:41:42 45.955 -75.546 19.2 49 km ( 31 mi) N of Cumberland, Canada

McFearless said...

DL,

I'm thinking he did, we were talking about it earlier, he had to have known this would happen when he said that stuff.

McFearless said...

that looks like a decent sized one...hope our canadian blog buddies are all doing fine.

Anonymous said...

@Karen, your faster than Globe and Mail.

Thanks

karen said...

Wow! they are still smoking crack and drinking Kool-Aid.. They couldn't possibly tell the truth, anyway.

karen said...

what if nothing happens in the first ten minutes?

AmenRa said...

"Information received since the Federal Open Market Committee met in April suggests that the economic recovery is proceeding and that the labor market is improving gradually."

BS

CV said...

@karen

Then it'll be TWICE as magnified in the next...

McFearless said...

fade nothing?

CV said...

@Amen

TYPICAL RECOVERY... TWSWB was right after all!

McFearless said...

Ra,

get in line to be "fed" your daily lie....

mcHAPPY said...

A solid down coming up?

Not the next leg though - just a B wave.

Then a short squeeze in to the close and open tomorrow for a C?

2 days down - you'd think a day or a little more up would be in order.

AmenRa said...

Hoenig voted against. They couldn't break him LOL.

CV said...

Maybe it'll do the DOUBLE SECRET headfake...

CV said...

Screw the FED...

Europe is about to blow sky high...

McFearless said...

"Screw the FED..."


Music to my ears

Leftback said...

LB says F*** this. I am off to watch Germany and will be back to fade the close. Have fun deciding where that is going to be.

Fading gold and Ts at the end of the day would be my best bet, but I want to see what Lloyd does before I make any moves. Haven't hedged bonds in a while but I think we are approaching yields where that will pay off.

McFearless said...

@I,

did you get the 1093.5, and did you close it?

how many trades are you doing each day now...or are you letting the tape answer that?

bob said...

Earthquake 38 miles northeast of ottawa in Quebec, 5.5.

I'm less that 100 miles from ottawa where I am now, had to come inside and check to see, got a bunch of calls from people south of here saying they felt it. I was outside at the time and felt nothing.

Earthquakes up here are not uncommon. Small ones. Usually a 5 or better every few years.

I-Man said...

short at 1094.75
either a colossal opp, or a colossal fumble

Leftback said...

See... Lloyd is at it again. He is not a nice man.

McFearless said...

well...there's the pop...but I can't short this....too many counts at work...capital risk mgmt.

72bat said...

where was it that u bot tbt, karen? back in dec'88, sub-37?

AmenRa said...

What was that? Market waiting to see who would blink first?

I-Man said...

Jah I love FOMC days...

mcHAPPY said...

Big time pop indeed... looking for 5 waves up into tomorrow. Of course I am very much learning to not fall and love and marry the count before meeting her mother - mother being Mrs. Cold Steel.

Time is the least reliable for EW, of course, but for the move off this moring's low this uptick is waaaaaaaaay too short, imo.

Fractal guy took the rest of the day off so he wasn't seeing anything either - or he wanted to watch some World Cup.

«Oldest ‹Older   1 – 200 of 262   Newer› Newest»

Post a Comment

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.