Morning Audibles 7.1.10

Sorry... I'm a little late this morning...


As expected, the Eurozone LTRO operation is turning into a nightmare... All CV can say is the FLASH CRASH I was predicting last week is turning into more of a controlled demolition...






Hey, aren't STATE budgets in the US due today also? I know, they're probably in the dumpster with the Federal Budget... Do they actually do anything in CONgress? Oh well, I guess the House passed FINREG overnight... Way to go Pelosi (rolls eyes)...





In any case, Mr. Market is basically saying... Keynesian experiment over... (So expect "double secret" QE2 to come along soon)... Boys - Get your PHD's out and ready to wave at us!

How do you think I'm gonna get along without you when you're gone? 
You took me for everything that I had and kicked me out on my own 
Are you happy? Are you satisfied? 
How long can you stand the heat? 
Out of the doorway the bullets rip... to the sound of the beat (Look out) 








306 comments:

«Oldest   ‹Older   1 – 200 of 306   Newer›   Newest»
McFearless said...

greenspan did say one thing that was interesting today:

"thought is that the economy drives the stock market, I think it is in reverse"

even the Fed admits it, but all the Fed worshippers do selective listening, along with selective research.

McFearless said...

isn't the queen song saying Decide to Sell Marijuana backwards?

double secret QE2...lol.

BinT said...

Ben,

If you listened carefully he slipped and actually briefly said the reason he kept rates low was to enhance equities. While this was going on, he always denied that...

CV said...

@McF

No... I think it's saying "Another One Bites The Dust"

McFearless said...

interesting Bruce, I missed that, but you are right, I do know that he denied that in the past.

I'm just confident in saying these guys have no control and certainly don't have it "figured out"

not even close.

Anonymous said...

expect "double secret" QE2 to come along soon

no doubt- all hush hush-

probably going on right now

CV said...

@BinT

So, was he trying to irrationally exhuberance himself?

McFearless said...

C,

Unless I'm losing it, I recall plugging that song into a keyboard playing it backwards and hearing that....maybe I was just high. lol.

CV said...

TOGA TOGA TOGA!

CV said...

@McF

The simple fact that you were trying to play a song backwards speaks VOLUMES on your state of inebriation at that moment...

McFearless said...

you've never done that? lol.

McFearless said...

not even Stairway To Heaven?

CV said...

Wouldn't Stairway to Heaven backwards be "Stairway to Hell"?

CV said...

Or Highway to Hell?

karen said...

good morning! laughing !! CV and Ben, neither of you ever sleeps.
here is our "unexpected" this morning:

Initial jobless claims unexpectedly increase to 472,000 in latest week, U.S. data show
07/01/2010 08:32:22 AM

CV said...

Or... YES WE CAN

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

McFearless said...

if you are sleeping you are probably missing something!

BinT said...

CV:

AS Ben stated in shorthand with his UFB statement, I can't see why you'd have a generally discredited Fed boss on this late after Bernanke. It is water under the bridge, and most of us practically minded, non-PHD in economics types will always feel that extremely low rates were the reason for the housing bubble....(along with government policy, etc...)

McFearless said...

that video is nuts....I gotta test it out with my recorder.

karen said...

humans are nuts.. what a crazy video.

McFearless said...

but certainly not freddie and fannie bruce

as kanjorski said today, they weren't a problem really, and besides, it was republicans fault that happened anyway.

or, you could just say they were like any other bank

either way, all the excuses for the two are complete nonsense.

Anonymous said...

non-PHD in economics types will always feel that extremely low rates were the reason for the housing bubble.

bruce- we're just babes in the woods- wide eyed and ignorant- trying to understand the world as best we can-

I wish I had a Phd in economics

Anonymous said...

@Bruce(9:10) "extremely low rates were the reason for the housing bubble".

Not just in the U.S., but on this EARTH!!! Everywhere, from China, India, to Africa. All that U$D borrowed at low rates fuelled the bubbles.

Wall Street doing God's work! Or was it Greenie's doing.

CV said...

@karen

That's what I'm saying "humans are nuts"...

A person could probably manipulate any sequence of anything and come up with a different meaning...

STOP... OMG if I rearrange the words it becomes POTS!...

What does it all mean? What does it all mean? - lol

McFearless said...

alright all I'm out for the day


good luck today

I-Man said...

Yall see the overnight low print in the ES?

1016...

Not bad for a pen, ruler, and some gann without a plan...

McFearless said...

and anon is right at 9:19, it's global baby.

CV said...

Bob Sugar says...

"Because you're GLOBAL baby... W-O-R-L-D-W-I-D-E"

mcHAPPY said...

I am confused. How can futures go positive after such a bad jobs report and horrible numbers out of China?

(totally sarcastic here - this should be interesting to see how CNBC/MW spin this)

CV said...

Fed Made Taxpayers Junk-Bond Buyers Without Congress Knowing

http://noir.bloomberg.com/apps/news?pid=20601109&sid=a6WbLuJFUkFw&pos=10

CV said...

Eur-USD is smokin!

CV said...

But it could just be the final test of about a 34 day long reverse H&S...

Amabo said...

"mcHAPPY said...
I am confused. How can futures go positive after such a bad jobs report and horrible numbers out of China?"

It's simple, only so many peeps can lose jobs until there are no jobs left, we're close to the bottom so we can only go up from that point!?

I-Man said...

Embrace the BS McHappy...

karen said...

poor uup! knocked right out of bed this morning.. took gld with it! it all makes so much sense (actually, it does cuz everything seems to be cueing off the euro.)

CV said...

I actually think this is just the final test to see if the Euro can get resurrected...

Fail this H&S here (which may take thru Monday to complete), and it may be rollover city...

CV said...

and everyone KNOWS CV's theories on holiday weekends in the US (that are not holidays in Europe)...

and what that does to FOREX & commodities...

AmenRa said...

Propping up the market for ISM. Hoping to get a squeeze in before the selloff commences.

CV said...

I mean... The Euro hasn't even tested it's leading diagonal since mid-April...

CV said...

@Amen

Yeah me too... I was hoping for a little 103.90 on SPY to add a few shorts...

We'll see if we get it...

Anonymous said...

wtf is wrong with EURUSD?

Prashant

karen said...

i love it when i get a headline gone wrong:

U.S. stocks defy pressure of jobless-claims data to eke out early gains
07/01/2010 09:48:40 AM

CV said...

I was doing some longer term charts last night (24 year MONTHLY)...

The FAILURE at 1131 (on a monthly basis) going way back sets up for an ominous H&S...

It basically means the next support of that very long term pattern might be around 736...

I-Man said...

@ Prashant

Too many shorts.

AmenRa said...

Did someone get an early look at ISM?

BinT said...

McHappy,

This seems to me to be a set up for another day like we've had the last 6 weeks or so..."strength" or what passes for strength in the morning...and when no buys flood the market in the afternoon, late afternoon weakness going into the bell. If I were a trader like you guys, I think you could have made enough with this trend over the last month to buy Warren Buffet and put him out to pasture!

AmenRa said...

ISM 56.2% vs exp 59.7%
Pending Home Sales -30%

BANZAI!!!

Anonymous said...

Pending Homes Sales Plunge 30 Percent in May

no shit? Why is that a surprise to anyone?

BinT said...

All the news that is fit to print is horrible this morning:

http://briefing.com/Investor/Public/Calendars/EconomicCalendar.htm

I-Man said...

Someone gets an early look at all the data, right Ra?

They're all leaked.

BinT said...

Ahab: it is unexpectedly not a surprise anymore. Except maybe to Krugman.

Anonymous said...

Warren Buffet and put him out to pasture!

bruce- the dude rode the great credit induced bull market we had for the past 30 years

Anonymous said...

Where's all the money going?

Total - All Money Market Funds

6/25/08 $3,491,210M
6/24/09 $3,713,332M
6/23/10 $2,817,897M

I-Man said...

Timmy to Bernocchio:

Can we call it a double dip yet?

Or are we still lying to everyone?

Leftback said...

USTs just keep on rolling.

Will hedge exposure.. eventually. May see a sell the kitchen sink on the rumour day here ahead of NFP, then a relief rally tomorrow.

Bill Gross sees this as a good environment for HY debt and I think in the short term that is a good trade.

BinT said...

Buffet was long when it was good to be long. Now it isn't and he already admitted in the tech bubble when he wasn't in techs that he only was a one trick pony. Very good at his one trick, but he's on a different stage today, and the applause is running out.

AmenRa said...

Closer look at ISM:

PMI 56.2 from 59.7
EMPLOYMENT 57.8 from 59.8
NEW ORD 58.5 from 65.7
PRODUCTION 61.4 from 66.6
EXPORTS 56.0 from 62.0
PRICES 57.0 from 77.5

Please make an orderly line to the exit. This is not a drill.

Leftback said...

PRICES 57 = you're on the D-train, baby.
If this isn't your train, then it's tough noogies.

Leftback said...

If Bucky turns up sharply, commodities are in a world of hurt.
Oil and gold are already off with DXY down big. Silver looks vulnerable.

CV said...

"Do you take AMERICAN EXPRESS BLACK?"

"No... but cash would be fine"

I-Man said...

To 1000...

Anonymous said...

Construction spending was $841.9 billion in May 2010, 0.2 percent below April 2010 and 8.0 percent below May 2009.

mcHAPPY said...

BinT,

That is my problem. I didn't ride this one. I missed minute 1 of minor 1 as well so here is hoping I get my sh*t together for minute 3!

Leftback said...

2.90 10y and 3.86 30y yields. Can't believe what I am seeing...

I think my low yield 10y prediction for 2010 was 2.75%.
Likely will lower that...

Yo, Morgan Stanley. 5.5% 10y? Are you out of business yet?

AmenRa said...

Current low
10yr 2.892
30yr 3.843

VIX 35.37 and rising

K-A-T-H-E-R-I-N-E!!! K-A-T-H-E-R-I-N-E!!!

Anonymous said...

you're on the D-train, baby.

only someone w/ a PhD can understand these matters-

hopefully one of the Fed economists can explain it so we can understand

I-Man said...

Welcome back, LB... missed ya.

AmenRa said...

Must be that time of the month for Blogger...

Anonymous said...

may be better for DL to go long near 1020... just saying

Leftback said...

Thanks for the warm welcome on my return, blog creatures.

I missed you too.... 3.85% on the 30y... TLT running wild.
This has elements of a short squeeze in the long bond.

CV said...

Pending Homes Sales Plunge 30 Percent in May

"Housing has officially bottomed".

- Jim Cramer, June 16, 2009

Anonymous said...

Canadian market closed today. Holiday.

I-Man said...

Anyone have an ES support level above 1000?

I'm short... but could we really go that far this morning?

Ra?

CV said...

It's like a pachinko machine

Anonymous said...

Cramer edit-

"Housing has officially bottomed- for now- and by the way- when I told you to sell everything- I was joking"

June/16/2009

Anonymous said...

CV. Thinking about covering all my shorts here@spx1010. what say U?
DP

I-Man said...

adjusting stops in waterfalls is tough... just keeping up with them is tough.

AmenRa said...

Flash Crash Dos Esta Aqui

Anonymous said...

LOL, CV, why do you even listen to that baffoon!

Anonymous said...

CV, thinking about covering all my shorts here@1010, What u say? DP

CV said...

Chief Martin Brody says (to Bernocchio)...

"We're gonna need a bigger printing press"

Anonymous said...

@Amen, BP green?

Anonymous said...

sorry for double post...
DP

AmenRa said...

Anon

The most beat up get squeezed on days like today.

BinT said...

Si. Y con muy dolor.

CV said...

French castle defender says (to Cramer)

http://www.youtube.com/watch?v=M5WuHhVRZcY

Anonymous said...

@DP

unsure?
at least take 1/2
lock in sum profits
don't be a pig

CV said...

@Amen

BP =

Beyond Petroleum?
Beyond Plankton?
Beaten to a Pulp?

Anonymous said...

BP-

still bucking the trend

AmenRa said...

The market better hold 1000 or it's off to the races.

Also the MSM likes to use ISM Employment as a proxy for NFP. Except today. LMAO.

karen said...

spy rsi below 30 now, 29.47 or so. important level..

karen said...

$spx below 200 ma of 1014, $indu would match at 9500 (actually 9496) and $compq at 2000 (act. 1971)

Anonymous said...

@CV, your July 6th date for flash crash is early. Good call.

What about BTE earning

Anonymous said...

Blogger - sign of that times, eh.

CV said...

It's a "controlled detonation" flash crash...

Leftback said...

Classic "sell the rumour" bear market Thursday...
Tomorrow should be quiet, unless we break below SPX 1000.

The Death Cross looms.

Leftback said...

Just a quick note that TIPS and gold are off together.

That is often a sign of distress, margin calls, liquidation, watch this.

CV said...

Earnings?

What do those matter? All books are cooked...

It has no bearing on anything (except to be used as an EXCUSE for non-PhD's to explain to you why the market went up or down that day...

Anonymous said...

The market better hold 1000 or it's off to the races.

Xtreme downhill?

Nic said...

Welcome back LB!
Today is a bond yield story, USD can't rally with collapsing yields. USDJPY is the fx driver today.
EUR and GBP will be shorts tomorrow

Nic said...

Correlations gone to hell in a handbasket ... tough day

AmenRa said...

LB

The Death Cross may hit sooner than expected because the days leading to Flash Crash One are about to become part of the SMA(50) calculation.

AmenRa said...

ahab

Widows Peak

Anonymous said...

Two Canadian Bank CEOs getting awarded "Order Of Canada" award today, Canada Day. Royal Bank and TD Bank CEOs. www.globeandmail.com/report-on-business/streetwise blog

What bullshit! Bailout money.

Wes said...

Clavadista d'Oro™

CV said...

@AmenRa (11:18)

I was referring to that last week...

We're boinking past 1220... The time to "kick save" anything was last week... Now it's a done deal...

CV said...

Terry Jacks says...

"We had joy we had fun we had seasons in the sun"

CV said...

Eddie Munster says...

"You talkin' to me Amen?"

karen said...

DL, i have to ask, buying aapl? or waiting : )

Leftback said...

Wes,

That is a classic. All-time.

Oil and gold, classic leveraged mark-ups. Wonder if Krugman still thinks crude is governed by "supply and demand"? Tool.

Leftback said...

"So long, my friend, it's time to die.."

Sharing total recall of music with CV is... scary.

Leftback said...

Leveraged markets. LB is wondering how Cognos is doing...?

AmenRa said...

Usual melt up into the European close. Give it a few minutes after their close before the Wile E Coyote moment.

Anonymous said...

@ LB(11:29)

Should see Steve Barry at TBP today.

AmenRa said...

"It's so hard to say goodbye to yesterday..."

Anonymous said...

Greenspan says decline typical of recovery.

You can't make this shit up...

Anonymous said...

>> Should see Steve Barry at TBP today.

I love Steve Barry. With the rampant Fed job though, I feel like he was robbed.

It's like rooting for someone on reality TV and then watching them not win the million dollar prize. (Of course, since I don't watch reality TV, I don't know why I use that analogy.)

AmenRa said...

New mantra

MUST...HOLD...S&P...AT...1000...BEFORE...HOLIDAY

CV said...

"You'd better run for your life if you can little girl"

Leftback said...

Steve Barry should have taken the money and run.

LB is not doing a thing until we see the last hour. Not the JOHNNY HOUR. The one that matters, the LLOYD HOUR.

Nic said...

BoJ on the bid in USDJPY to stop disorderly appreciation.
Squeeze time

CV said...

Steve Miller says...

"Go on take the money & run"

Leftback said...

BUCKY rally... now who is that bad for... ?
Hi-ho Silver.... and Copper, the metal with the PhD...

CV said...

Billy Jack is a detective down in Texas...

You know he knows just exactly what the facts is...

He ain't gonna let those two escape justice...

He makes his living off of the people's taxes...

Nic said...

LB
England lost because the coach banned butter. Sacrilege.
http://thehealthyhomeeconomist.blogspot.com/2010/06/butter-banning-world-cup-team-gets-boot.html

Leftback said...

This bounce has a soggy feel to it, it isn't going to hold.

The SPX 1000 level will be defended like THE ALAMO. Bet on it.

Kampo said...

We will defend Japan honor.

CV said...

Bart Simpson says...

"Nobody better lay a finger on my BUTTERFINGER"

CV said...

Davy Crockett says...

"You need me in there at SPX 1000 sir?"

I-Man said...

Long soiled kimono.

CV said...

The good news about deflation is that the government can save money on INK not having to print all those zeroes on everything...

I-Man said...

I've heard of "inflation"... but what is this "deflation" you speak of?

Never heard of that before...

karen said...

i'm dying to know if cstr is going to close the huge gap from magic monday may 3.. it seems to be trying.

karen said...

the upside down cup and handle on jcg is huge.. everything looks scary to me..

karen said...

a quick note from stockcharts.. since this is in Murphys's 2004 book, "Intermarket Analysis", I feel I can copy and paste..

The Kondratieff Wave (discovered in the 1920s by Nikolai Kondratieff, a Russian economist) is well known to most technical analysts and describes a "long cycle" of economic activity which lasts approximately 55 to 60 years.

Gordon put the start of "Kondratieff Winter" in 2000. The 2004 book summarized Gordon's view as follows: "The main characteristic of the economic winter is deflation. Stock prices plunge (as do real estate values)...The two best defenses are cash and gold". Gordon refers to the long wave as a "lifetime cycle" because it happens only once in a lifetime (the last time being in the 1930s) and each generation is unprepared for its onset and unfamiliar with its solutions. I might add they don't see it coming either. What's worse, most of Wall Street doesn't seem to recognize that we're in the first truly deflationary environment since the 1930s. Once you understand it, most intermarket trends will make a lot more sense to you.

Leftback said...

Hmm... knives or fingers?

Sticking with the fingers for now.
Not Goldfinger though, he is really having a bad day.

Leftback said...

"Wall Street doesn't seem to recognize that we're in the first truly deflationary environment since the 1930s"

Their business is entirely dependent on their not seeing this.

karen said...

ps. i am eyeing gdx for a buy.. first piece at 47.50ish ? a buy range for me could be 48.50 down to 46.50 or so..

I-Man said...

Karen, right on top of the base uptrend...

http://dreadcapital.blogspot.com/2010/05/gdx-weekly-annotation-43010.html

karen said...

another paragraph:

DEFLATION SCENARIO... The Introduction to my 2004 intermarket book reviewed relationships that prevailed up to 1998 (which I had explained in my 1991 book on the same topic). One of the paragraphs containing the headline -- "Then Came 1998 and Things Changed" -- which explained that "deflation" played a key role from then on. A later paragraph (p. 52) entitled "The Deflation Scenario" explained that deflationary trends not seen since the 1930s were starting to take hold which would result in falling stocks and commodities with rising bond and gold prices. The biggest intermarket change was the major decoupling of bond and stock prices which has lasted until the present day. One sentence reads: "Market events of 1998 were a dramatic example of ... how bonds and stocks can decouple in a deflationary world". [Last Thursday's article on why falling bond yields were bad for stocks was based on that earlier deflationary theme]. Another explanation for deflationary trends over the last decade comes from Kondratieff Winter which was also described in the 2004 book

CV said...

Anybody get the feeling that when Europe closes there's going to be a massive dumping of Eur-USD and US equities are going to get beat to a pulp?

wunsacon said...

>> a "long cycle" of economic activity which lasts approximately 55 to 60 years.

Isn't there a Chinese saying about it taking 3 generations to build, spend, and then squander wealth?? Who should we blame more: (a) the 1st or 2nd generations for not teaching the 2nd or 3rd or (b) the 2nd or 3rd generation for not learning from their parents/grandparents?

karen said...

I-Man.. exactly. you know how i like to KISS. and very nice chart, btw!

CV said...

@wunsacon

We should blame BUSH and call it a day :-)

arbitrage789 said...

Karen @ 11:25

I almost never buy individual stocks anymore (just ETF's and futures).

But if I WERE going to buy-and-hold an individual tech stock for six months, I think buying AAPL would be a reasonable bet.

For one thing, iPhone sales should surge if it is really true that Verizon and others will be selling it (hell, I might get one).

wunsacon said...

>> We should blame BUSH and call it a day :-)

Oh, CV. That's soooo Q1 2010. ;-)

karen said...

CV, last night i left a comment to you unposted by sheer blogspot dumb luck.. i feel asleep in my dinner dress.. awoke around 1:30 AM to turn out lights and noted my laptop and comment. Thanked my lucky stars and got ready for bed properly !

BinT said...

Thursday, July 1, 2010
Morning Audibles 7.1.10
Sorry... I'm a little late this morning...


....You know, they have a test now for that...turns blue if you are, you know....

wunsacon said...

Off to salt mine (with open PHYS wounds)... Later, taters!

Leftback said...

Karen,

You do seem to KISS a lot. You must be very good at it !!

Obama said...

Bush is also responsible for the oil spill.

It was his lax regulatory policies that caused it.

CV said...

It will live for all time...

BinT said...

http://finance.yahoo.com/banking-budgeting/article/109972/valuations-at-mid-year?mod=bb-budgeting&sec=topStories&pos=7&asset=&ccode=

Commentary: The market's P/E ratio is relatively high by historical standards

...Another reason I like Hussman.He's been saying this for months. Not this idiot Rip Van Winkle who slept through the first 6 months of the year, WHEN THE DOW WAS HIGHER, and now wakes up to tell you and me "STOCKS MAY BE OVERVALUED"...

....This is the type of tea leaves reading that makes me want to holler enough already.

CV said...

@karen

One can only wonder :-)

karen said...

Oh, I do blame that Bush Administration for nearly EVERYTHING. 9/11 was the missed pass that could have been a game changer.

karen said...

12:38 PM ET 7/1/10 | Dow Jones
Italy June Car Sales Fall 19.12% On Yr As Govt Incentive Ends

MILAN (Dow Jones)--Italian new car registrations fell for the third consecutive month in June, down 19.12% to 170,625 units, government figures showed Thursday.

The decline was due to the end of a government program that gave financial incentives to new car buyers.

karen said...

i just checked twitter:

fundmyfund (aka trader mark)
$$I cannot wait to see $TSLA at $4 in 2013.
9 minutes ago via we

karen said...

so why are we melting up? i missed something : )

arbitrage789 said...

I'm sure all of you are eagerly awaiting the release of Bush's memoirs in November

http://blogs.abcnews.com/thenote/2010/04/bush-memoir-set-for-december-release.html

Autographed copies cost only $350.

CV said...

"The decline was due to the end of a government program that gave financial incentives to new car buyers."

whoocoodanoode?

CV said...

"so why are we melting up? i missed something : )"

It was gay Johnny (from the movie Airplane)...

he was JUST KIDDING...

BinT said...

http://www.cnbc.com/id/37999266/

MacDonald: Damage from Gulf Disaster Will Last Lifetime

"This is what was said by oil industry apologists about Prince William Sound after the Exxon Valdez spill. It was untrue then and it will be untrue a year from now.

Despite all the skimmers and sweepers, most of the oil sinks to the bottom or washes up on the shore and then sinks down in shallow layers below the sand, profoundly restructuring the ecosystem. The change cannot be undone in a lifetime."

...This is perzactly the way I look at this spill also. Forget "ecosystems" tripe, try the fact that the oil will linger near the shore or under the sand for years and years. Oyster beds...you better like the taste of WD-40...

Unlike wunsacon, I now get to take the afternoon off from the salt mine. Later taters...

karen said...

hilarious!! http://www.zerohedge.com/article/imeltup

Leftback said...

Usual post-Europe close afternoon rally.
Fails in the last hour. Bears in control again.

karen said...

DL, coincidentally, i just found this for us!

"this guy says Apple has potential to fall to $115. While seemingly impossible as this is Teflon Stock #1, it is true that Apple was in the $70s during the panic of 2008. Someone remind me to put the whole portfolio into Apple if it gets below $120."

http://www.fundmymutualfund.com/2010/07/this-guy-really-hates-apple-aapl-as.html

I-Man said...

Just had to test a Gann... back to business.

AmenRa said...

LB

I was just looking at the FTSE hours to see when the games would begin. 4:30 GMT close time. The melt up kicked off instantly. Jump you f'ers!

arbitrage789 said...

Karen @ 1:00

Of course, if AAPL drops to $120 because the SPX has dropped to 800, there'll be lots of other places to put money to work.

CV said...

@DL

But 800 won't happen for, like, 6-7 years right?...

We'll probably drop, like only .18 each day on the S&P until we get there...

CV said...

Time for a tweet from Mr. TOPSTEP...

arbitrage789 said...

CV @ 1:11

I didn't say it would take that long.

I just didn't think it would happen in the next 18 months... but at the rate we're going, it could be a lot sooner.

mcHAPPY said...

Be warned.... I"m short.

Both the DOW and SPX failed to get through yesterdays lows during that mini-melt up.

karen said...

CV, he has said nothing since yesterday.. at that was that his 16 yo daughter would be working on the floor this summer.

18 said...

someone say 18?

1044 lost
1026 still holding, prolly good support/resistance area into next week
1008 never hit

1008 breaks then 954 is next level 18 support

one never knows

mcHAPPY said...

In the next 18 months, March '09 lows will look like a great point to get out for buy and holders.

I really have no right to say anything though....

karen said...

Jaycee Dugaard is getting $20 million from bankrupt CA?

http://www.msnbc.msn.com/id/38041101

arbitrage789 said...

Karen @ 1:19

Isn't the state of CA still paying people to buy houses?

Anonymous said...

@Karen, J.C. - sad story. Good for her. I wouldn't want any kid to go through her ordeal.

I-Man said...

@ 18

Would you mind running those numbers on the es?

karen said...

anon @1:27.. yes, one of those stories that makes you shake your head.. i read about it in great detail at the tie. however, i just wonder if the state takes out incompetence insurance on it's corrections officials.. our society is so weird!

karen said...

topstep:

http://www.youtube.com/watch?v=6FKw0XuiVP0

karen said...

"the fundamentals are having their way with the markets." ha ha quote of the day! and remember, i did say i didn't agree with danny yesterday.

I-Man said...

thx for the hookup, K

karen said...

wow, don't watch that 100 greatest movie insults video posted at TBP... it will make you feel bad.. i had to shut it down or i would start crying!

karen said...

CV, are you in need of my services again this afternoon? laughing

CV said...

Always! :-)

arbitrage789 said...

Perhaps the two of you (CV & K) should explore the idea of a video hookup.

18 said...

@I
don't use on the ES to make my calcs, but after looking at the ES charts, I did see it bounce off 1008 Sep charts this morning. If using the close on my levels, it didn't break 1008. Using high/low then it would show it broke ES 1008.

karen said...

just reduced! (now only 29.95)

http://www.mcmoniglegroup.com/listing_detail.php?ID=1619&area=newport

karen said...

well, this is over my head:

nntaleb - Most feed their obsessions by getting rid of them.
7 minutes ago via web

Today's $vix sonar report:

http://www.youtube.com/watch?v=-Ez4j4mu_jQ

CV said...

@18

61.8% fib retrace 1008-1044 would be 1,030.24...

Mannwich said...

Morning, I mean, afternoon, all! What did I miss? Anything consequential? ;-)

karen said...

DL per your 1:50, yesterday, I had a passerby yell over to my male friend and I at the beach to "GET A ROOM !" I laugh every time I think about it.

karen said...

Jeff, thank you so for being gone ! I doubt I could have made the money I did if you were here from the beginning.. I do have more to sell tho so once you've had a look around, maybe you could leave for the last half hour?

karen said...

this will never play out but look at the rev h&s in dto on a weekly chart starting last december..

Nic said...

Haha Karen I wish I had half as much fun as you

Mannwich said...

I may duck out again for a workout, karen. I'll let you know when, OK? ;-)

I-Man said...

going to take a shot on the long side here...

Anonymous said...

CV... there's your 1030

CV said...

@18

per my (1:59)... It just tagged 1,030.29

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