TRADERS ANONYMOUS: Morning Audibles 6.4.10 In Limbo

Morning Audibles 6.4.10 In Limbo

Don't ask me, I'm a friggin' ball!

But here are some numbers to mull over in your dome...

JUST ABOVE (stacks & stacks of resistance)
1105 = 200 Day Moving Average
1106 = Close of Sept 28th, 2008, the day the crash accelerated
1110 = .09 fibo retrace from 1219.8
1115 = 2009 close
1121 = 50% re-tracement of 666-1576

JUST BELOW (as in "lookout")
1101 = KT
1097 = Wangers Magical Mystical Number

So basically, CV has determined that the only thing holding up the entire market these days are karen & Wanger...

Now... What can either of you do about plugging that oil gusher?

529 comments:

«Oldest ‹Older 401 – 529 of 529 Newer› Newest»

McFearless said...: karen,

I can't read that, I've got these damn welding goggles on and it's pitch black in here!; June 4, 2010 at 3:10 PM
McFearless said...: Sinclair is a dork, if the manipulators will lose influence above 1224 then STFU already.

I think he's a giant tool, sorry if I offend anyone...I suppose I should write him to tell him what I think of him....adult like.; June 4, 2010 at 3:12 PM
karen said...: i think the bounce is getting weaker.. 1070.69 might be my line in sand.; June 4, 2010 at 3:13 PM
AmenRa said...: Getting very close to the "Do I stay or do I go" time of the trading day.; June 4, 2010 at 3:13 PM
bob said...: Jobs Report Sinks Stocks, Dow Below 10,000

U.S. stocks sank, sending the Dow Jones Industrial Average below 10,000, as slower-than-estimated jobs growth spurred concern the economic recovery may not be as robust as forecast.

Top of bloomberg, never seen a story like that, pasted right under the menu.

Dow 10k; June 4, 2010 at 3:14 PM
Mannwich said...: No way am I doing anything here. Might dump my ZSL though, but I'm just watching. Don't have cv's cojones to go long (or short) here.; June 4, 2010 at 3:14 PM
I-Man said...: I think the bottom's about to fall outta this shizz...; June 4, 2010 at 3:15 PM
McFearless said...: I, if EWI is right that's exactly what is going to happen, this move down will be swift. We'll see, i still have cash I wanted to put to work.....; June 4, 2010 at 3:18 PM
McFearless said...: major issues between gold and silver....two different planets.; June 4, 2010 at 3:18 PM
CV said...: Last chance... right here...; June 4, 2010 at 3:19 PM
Jean-Claude Trichet said...: Bailout Sunday night.; June 4, 2010 at 3:22 PM
AmenRa said...: 1066.95 is the line in the sand.

*update which was just crossed.; June 4, 2010 at 3:24 PM
I-Man said...: Trichet,

Smell your fear, I-Man does.; June 4, 2010 at 3:24 PM
CV said...: Where's the PPT now?

CV has one Question... and the question is this...

http://www.youtube.com/watch?v=e-Rnl7Orxdk

I'm out...; June 4, 2010 at 3:26 PM
McFearless said...: the other Jean Claude:

http://www.youtube.com/watch?v=CE8XKeN0zk4; June 4, 2010 at 3:26 PM
Mannwich said...: Hanging in the balance here.; June 4, 2010 at 3:28 PM
karen said...: CV, sorry, that did not work for me.. laughing. I can just see you at the strip club..; June 4, 2010 at 3:28 PM
I-Man said...: This is when Snowbama and the 7 Dwarves find out that the Market is boss.; June 4, 2010 at 3:29 PM
mcHAPPY said...: Actually, started preparing dinner and had a second thought.....

IF (and that is a big IF) 1103.95 is the start of minor 3, it would appear 1081.02 would have to be the end of wave 1.

In a wave 2, .382 is the minimum retracement. Today's bounce off 1081.02 was to 1088.60. The .382 retracement would be 1089.78.

I am starting to like the end of 1040.78 more and more as th end of intermediate 1. Time will tell of course and the good thing is it will be sooner rather than later.

As I'm sure you all can tell, I'm pretty ticked off about missing this, mais c'est la vie.; June 4, 2010 at 3:29 PM
bob said...: CV

Good out.; June 4, 2010 at 3:29 PM
karen said...: i want 3 more pennies for my 5k drv..; June 4, 2010 at 3:29 PM
Mannwich said...: LOL cv!!!; June 4, 2010 at 3:30 PM
karen said...: geez, now what.. thots?; June 4, 2010 at 3:31 PM
Mannwich said...: Don't worry, McHappy, be McHappy. There'll be another chance. There always is.; June 4, 2010 at 3:31 PM
I-Man said...: 420 comments duuuuuddddeee....; June 4, 2010 at 3:32 PM
I-Man said...: Still waiting for the whirlwind part Karen...; June 4, 2010 at 3:33 PM
Mannwich said...: And blogger not breaking (yet).; June 4, 2010 at 3:34 PM
CV said...: @bob

I actually made about a few dollars (dollars, literally, no benjamins)...

Maybe I can afford the luxury of a table dance :-); June 4, 2010 at 3:35 PM
McFearless said...: "geez, now what.. thots?"

I'd like a vodka, time to start my weekend.; June 4, 2010 at 3:35 PM
bob said...: Iman-

sounds like a sign to me...

http://www.youtube.com/watch?v=DWtesJrLSNA; June 4, 2010 at 3:35 PM
McFearless said...: whoaa, I didn't realize the nubmer of comments....record?; June 4, 2010 at 3:35 PM
arbitrage789 said...: Monday rally.

Cover your shorts.; June 4, 2010 at 3:36 PM
AmenRa said...: $Trin update:

S&P 1.5
NYSE 16.20
NASDAQ 6.47; June 4, 2010 at 3:36 PM
mcHAPPY said...: Thanks, Manny. Good advice.; June 4, 2010 at 3:36 PM
CV said...: But now that I'm OUT...

We'll probably get the 20 minute ramp that would have put me into the CHAMPAGNE ROOM... :-); June 4, 2010 at 3:36 PM
McFearless said...: love that movie bob.; June 4, 2010 at 3:37 PM
AmenRa said...: DL

They better get the rally on in the first 30 min on Monday or the selling will continue.; June 4, 2010 at 3:37 PM
Mannwich said...: I'm thinking they will, Amen. Or this is going to get really fugly fast.; June 4, 2010 at 3:38 PM
bob said...: MCF

It's life really...

http://www.youtube.com/watch?v=CLXnFzdMKto; June 4, 2010 at 3:38 PM
CV said...: @bob

Sad thing about THAT, tho, is...

As we all know...

THERE"S NO SEX IN THE CHAMPAGNE ROOM...

http://www.youtube.com/watch?v=j9yBPcn8IqU; June 4, 2010 at 3:39 PM
I-Man said...: LOL Bob!; June 4, 2010 at 3:39 PM
karen said...: so my BIGGEST trading flaw.. is that i like round numbers.. would someone just slap me and make me lower my limits a few pennies?; June 4, 2010 at 3:39 PM
I-Man said...: Maybe the PPT are all at the Bilderberg Party feasting over the fallen crumbs of the European Banking System...; June 4, 2010 at 3:40 PM
karen said...: CV!! hilarious !! wasn't chris rock at the game last night?; June 4, 2010 at 3:41 PM
Anonymous said...: How about Euro now at lows and holding for the weekend. Bailout time maybe?

Prashant; June 4, 2010 at 3:42 PM
I-Man said...: K,

I follow this rule:

Set your limit buys a little higher than you think you should.

Set your limit sells a little lower.

Set your stops a little lower than you think you should.

There's one for buy stops, but you get the picture...; June 4, 2010 at 3:42 PM
Mannwich said...: Awesome, cv. Chris Rock is great (even though Kobe blew his ass off last night).

Still 18 minutes left. Plenty of time for even more carnage.; June 4, 2010 at 3:43 PM
I-Man said...: Sing to me, Jimi Hendrix...

WATERFALL...; June 4, 2010 at 3:43 PM
mcHAPPY said...: Oh my; June 4, 2010 at 3:43 PM
Mannwich said...: Yes, karen. And Kobe blew him off.

My brother was there too. Sat near Mark Cuban. Said it was like going to a club or event with a basketball game going on. Definitely great people watching.; June 4, 2010 at 3:44 PM
I-Man said...: Full Marubozu, Ra?; June 4, 2010 at 3:44 PM
karen said...: drv gone at 8.45.. got my $5k + including commissions. keeping faz till the close and hopefully the next round number..; June 4, 2010 at 3:44 PM
AmenRa said...: Uh oh. Second trendline (2/5/10-5/21/10) around 1057 may get taken out.; June 4, 2010 at 3:45 PM
friz said...: Wow. I spend the day at the golf course and look what happens! I'm going to spend more time out there.; June 4, 2010 at 3:45 PM
Mannwich said...: Said that he could see Kobe's wife's rock from where he was sitting and that she looked bored to tears. Didn't clap or get out of her seat once to cheer. Not once the entire game. Sham marriage? I think so.; June 4, 2010 at 3:45 PM
McFearless said...: Kobe reminded me of Jordan at times last night, and yeah, Chris Rock, when someone is in a zone like that nothing else exists.; June 4, 2010 at 3:45 PM
McFearless said...: that whole row at that game was nuts, you had chris rock, david spade, adam sandler....I guess just a typical Lakers game.; June 4, 2010 at 3:46 PM
Mannwich said...: I don't blame Kobe at all for blowing off Rock. Could you imagine if someone interrupted Rock while he was "working"?; June 4, 2010 at 3:47 PM
Mannwich said...: @ben: My bro was 12 rows up between the Lakers bench and the hoop. Sent me a pic. Said it was like no other game he's been to - - the whole spectacle and the way people were dressed. Crazy shit.; June 4, 2010 at 3:48 PM
bob said...: New high on USD, wasn't expecting that...; June 4, 2010 at 3:48 PM
I-Man said...: Looks like the Japanese are starting to get a little pissed...

Too bad.

Sayonara.; June 4, 2010 at 3:48 PM
I-Man said...: Those crazy Swiss just cant get enough pain can they Bob?; June 4, 2010 at 3:49 PM
McFearless said...: and just think bob, not 12 months ago the dollar was

1. dirt
2. counting down to implosion
3. being replaced by all countries for euros
4. sentiment at all time lows
5. and it was a foregone conclusion that the Wizard had gotten his way....

wrong.; June 4, 2010 at 3:51 PM
bob said...: Everyone wants CHF, they are just giving them what the market wants...; June 4, 2010 at 3:51 PM
I-Man said...: Nice to see the dip buyers getting theirs today.; June 4, 2010 at 3:54 PM
bob said...: All of the banks that were lending to eastern europe (hungry) were german, french, and SWISS (usually on EUR terms).

I remember reading about that oh....5 years ago now...; June 4, 2010 at 3:54 PM
CV said...: @McF

The "Gisele" Indicator... will live in infamy!

Sachet Chante!

http://www.youtube.com/watch?v=TMT-sNWeMhk; June 4, 2010 at 3:55 PM
karen said...: Foreclosed properties held by US banks reached $41.5bn in Q110, a 12.4% increase from the previous quarter, according to data analysis firm SNL Financial.

The amount of foreclosed properties jumped from $36.9bn at the end of 2009. At the end of the first quarter in 2008, that number was $11.7bn. Andrew Schukman, an analyst at SNL Financial said that the amount of one-to-four family properties in some stage of the foreclosure process (and not yet an REO) reached $78.6bn in Q110, up 9.1% from the end of last year.

The amount of REO property held by the banks is also known as the “shadow inventory” of foreclosures. According to Morgan Stanley, it would take 47 months for the market to clear the roughly 7.5m first-lien mortgages in danger or already in foreclosure.
http://www.housingwire.com/2010/06/04/foreclosed-properties-held-by-banks-up-12-4-in-q110-snl-financial?; June 4, 2010 at 3:56 PM
72bat said...: karen -
closed out srs myself, finally after all this time, nearly breakeven; June 4, 2010 at 3:59 PM
I-Man said...: Flash Crash Low = 1065.79

Weekly Close = 1065.01

Feels like a victory.; June 4, 2010 at 4:02 PM
CV said...: Well todays action confirms it...

CV's "official" selection in the Belmont Stakes tomorrow is...

FLY DOWN; June 4, 2010 at 4:02 PM
CV said...: @I-Man

CV bought a dip today... But I got out in time too... :-); June 4, 2010 at 4:03 PM
Mannwich said...: Weekend bailout/intervention news coming?; June 4, 2010 at 4:04 PM
karen said...: sold my remaining srs at the close as well as the faz and tza..

time for hot fun in the summertime now.. hope the surf is up!; June 4, 2010 at 4:06 PM
McFearless said...: well, everyone have a great weekend.; June 4, 2010 at 4:07 PM
karen said...: what a difference a day makes..

and, ben, i'll tip my ketel and fresh grapefruit juice your way, cheers !; June 4, 2010 at 4:08 PM
I-Man said...: Peace, all.

Fun week.; June 4, 2010 at 4:09 PM
CV said...: Thanks all!

Amen's up next...; June 4, 2010 at 4:09 PM
AmenRa said...: I think I ate too many bull shish kabobs. But they were good :-); June 4, 2010 at 4:10 PM
Anonymous said...: few more comments , and we can hit 500..
come on.. let's do this; June 4, 2010 at 4:15 PM
McFearless said...: for those that are not afraid to look at everything:

http://www.astrocartographyinfo.com/CrisisWarning/Crisis2010-KeyDateChartsRev1a.htm

warning for the rest, don't bother opening.; June 4, 2010 at 4:16 PM
karen said...: I-Man @ 4:02, thanks for pointing that out !!; June 4, 2010 at 4:17 PM
mcHAPPY said...: Karen:

Good for you! I am envious. I think the sell was a smart call - uh oh contrarian indicator here.

I am eagerly awaiting EWI short term. I think Monday will be a face ripper for shorts because:

1) 5 waves down for EUR/USD
2) 5 waves up for DXY
3) 1040.78 looks ideal as an end to intermediate 1.
4) The rise and fall off 1040.78 is textbook 1 and 2.

We shall see.; June 4, 2010 at 4:17 PM
karen said...: I-Man, the close was 1064.88 ..; June 4, 2010 at 4:20 PM
Mannwich said...: Off to the gym. Have a great weekend all.; June 4, 2010 at 4:22 PM
AmenRa said...: Ben

So the first date is this weekend? Should be an interesting Monday then.; June 4, 2010 at 4:23 PM
72bat said...: me for a trip with my kiddoh & her s.o. to my ol' hometown, louisville, to visit grandma, plus a day at the downs with the ol' high school gang, and 17 miles of underground limestone quarry
bombay'n'tonic coming right up. enjoy y'all!; June 4, 2010 at 4:23 PM
CV said...: @McF (4:16)

I'm going to go out on a limb here and guess that ALL of the dates in your link are dates of FOMC MEETINGS... :-); June 4, 2010 at 4:23 PM
AmenRa said...: Karen

I wonder if that irked them in the pits considering they were looking at 1065.; June 4, 2010 at 4:23 PM
McFearless said...: Ra,

yes, the astro's look seriously bearish right now....I mean big time.

C,

ha, maybe!; June 4, 2010 at 4:24 PM
karen said...: Ben, you should have warned me.. stuff like that makes me cross eyed..

Bat, i kept my crude short, qid, and dxd.. also vxx.. but i did bank a nice round number today..would have preferred 6 digits but 5 will do!; June 4, 2010 at 4:25 PM
Mannwich said...: Many important “forward looking” indicators are pointing down. But, hey, it’s a good thing Obama decided to bail out the very people who caused this mess. Good to see they’re doing well. I’m sure others feel the same.

http://www.calculatedriskblog.com/2010/06/temporary-help-services-starting-to.html

http://www.calculatedriskblog.com/2010/06/fannie-mae-economist-house-price.html; June 4, 2010 at 4:25 PM
I-Man said...: I know Miss Perfect...

I was premature in my exuberance and forgot to wait a few minutes.

:); June 4, 2010 at 4:26 PM
karen said...: Well, I have a hot beach date so you all will have to push this over 500 without me.. Remember when we tried to push a thread at TBP over a big number and he got annoyed.. it wasn't professional.. thank goodness we can be ourselves here. What would a day be without some CV trivia? or knowing that Jeff is off to the gym? Bat, you need to step it up and post your menus daily!; June 4, 2010 at 4:28 PM
Mannwich said...: Exactly karen. It's way more FUN over here. If we're going to watch this shite every day, we gotta have a LITTLE fun in the process, don't we? Otherwise, we may all go bonkers. ;-); June 4, 2010 at 4:29 PM
Mannwich said...: OK, I'm REALLY off now. I know you're all worried! ;-); June 4, 2010 at 4:30 PM
mcHAPPY said...: Manny,

Do you still have your TLT?

p.s. 494!; June 4, 2010 at 4:30 PM
McFearless said...: Karen,

that was when I pretty much started to stop posting over there. it was way down in a thread and we were talking about watches and next thing I know....BAM and then I couldn't post for a few days at all.

I like that I can say whatever I want over here and C isn't going to freak out like that.; June 4, 2010 at 4:31 PM
McFearless said...: and yeah, those charts were a bit blinding....

now I'm really going to get that vodka drink...; June 4, 2010 at 4:32 PM
karen said...: I-Man, that might be the sweetest name I've been called all day ! Oh wait, let me check my text.. no, but it was close !!

Ben, the great thing is we all met up there!; June 4, 2010 at 4:36 PM
karen said...: This summer will make two years that I have known some of you from TBP.; June 4, 2010 at 4:38 PM
I-Man said...: Is this The One?

500; June 4, 2010 at 4:38 PM
I-Man said...: I was just thinking that, Karen.

Its like we're all old friends now...; June 4, 2010 at 4:39 PM
karen said...: Okay, I'll do it.. I'll make a few more posts and keep a very hot, tan, surfer body waiting for me on the beach.. lol.; June 4, 2010 at 4:39 PM
I-Man said...: Having a hard time deciphering those, Ben...

But I get the jist of it...

Supposed to be some crazy Solar action in the same timeframe.

And my birthday (9/23) always seems to be some kind of weird day for the markets. Must have to do with the Autumn Equinox.; June 4, 2010 at 4:42 PM
Bruce in Tennessee said...: Missed all day today with a blade. But that was some sell-off!

By the way, I am still pissed about O missing Arlington and the gulf spill last week so he could go on vacation, so now he cancels his Aussie trip so that this week he can get the missed photo-op on the gulf?

Doesn't blow my skirt up....; June 4, 2010 at 4:42 PM
BinT said...: And whoever gave O those job creation figures early so they could leak the good result?....probably looking for a new job this p.m.; June 4, 2010 at 4:44 PM
CV said...: I would cancel you all out right now...

But I'm too stupid & lazy to know how to do it...

And a cold beer looks too inviting... :-); June 4, 2010 at 4:44 PM
karen said...: Bruce, darling, you are a little late with the popcorn! I posted about you hours ago.. don't bother looking for it : ); June 4, 2010 at 4:45 PM
I-Man said...: For all late comers, Karen revealed all, deep within the comments section.

But you'll have to work to dig it out...; June 4, 2010 at 4:46 PM
CV said...: @I-Man

I hate to break it to you...

But it's more likely that the markets are wonkers in the timeframe of your birthday because it's around the ROSH HASHANA - YOM KIPPUR break...; June 4, 2010 at 4:46 PM
CV said...: @karen

"TEXTED" or "SEXTED"? :-); June 4, 2010 at 4:49 PM
72bat said...: k -
esp. for you...
grilled blue marlin steak sauced with brown butter flavored with smoked paprika, red pepper flakes, fresh chives, and lime juice, a side of haricot verte (tj's, too early for garden-grown), salad of fresh-picked arugula, and a new zealand sauvignon blanc. so now, go drool!
very hot, tan, surfer body, indeed! 8^); June 4, 2010 at 4:49 PM
CV said...: @karen

&BTW

VERY HAPPY about the 5 digits...

Let's work on 6 now... :-); June 4, 2010 at 4:50 PM
Eric Schmidt said...: CV,

There are too many comments here. It’s straining our computer systems. We’re going to have to start charging you.; June 4, 2010 at 4:50 PM
karen said...: bat, my mouth is watering! thankfully, i will be satiated shortly. : ); June 4, 2010 at 4:54 PM
karen said...: CV, my oil short is near 6 : ); June 4, 2010 at 4:55 PM
karen said...: are you satisfied with this number??? can i go now?!; June 4, 2010 at 4:55 PM
karen said...: oh, i promise to change my feet next week.. altho, we can't complain about the results of these..; June 4, 2010 at 4:56 PM
arbitrage789 said...: Karen @ 4:38

The first time I noticed one of your comments was in late September, 2008, when the SPX was around 1200, and you were calling for SPX at 1000.; June 4, 2010 at 4:56 PM
I-Man said...: Oh but CV, arent they both commemorating the same thing... at the root?; June 4, 2010 at 5:02 PM
karen said...: DL, that's about the same time i met LB..we were all there together..; June 4, 2010 at 5:03 PM
karen said...: really going now! later all, xxx; June 4, 2010 at 5:04 PM
I-Man said...: For reference:

http://www.telshemesh.org/tishrei/

You'd enjoy that site on a rainy day I think...; June 4, 2010 at 5:06 PM
I-Man said...: I and I remember those days like they were yesterday...

I think Bruce once referred to me as:

"Our new brave young warrior I-Man who will be carried out on his shield."

And, I was.

Shouldnt have bought that dip.; June 4, 2010 at 5:07 PM
I-Man said...: One of those posters from the old days who I wish would show up here, (besides the honorable Mark E. Hoffer, of course,) is "Uno"...

Steve Barry would be nice, but he'll probably show up only after QID has had a nice run...

And Onlooker, of course, who made quite the disappearance.; June 4, 2010 at 5:10 PM
I-Man said...: Alright, me too...

I dont want to be the last dread at the party.

Later!; June 4, 2010 at 5:11 PM
McFearless said...: "And my birthday (9/23) always seems to be some kind of weird day for the markets."

Indeed I, always noticed it as I'm mine is 9/22; June 4, 2010 at 5:14 PM
AmenRa said...: Ben

I tripped out when I saw 7/31 on there.

NEW THREAD UP; June 4, 2010 at 5:19 PM

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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.

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Morning Audibles 6.4.10 In Limbo

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