AmenRa's Corner

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



Creditcane: I've fallen and I can't get up!



SPX
Bullish short day. Killed bearish harami. Still holding above 1110. Back above the SMA(89) & SMA(144). Midpoint above EMA(10). Still above the weekly 3LB reversal price (1110.88). Above the trendline (3/6/09-5/25/10). New high on daily 3LB (reversal is 1102.66). QE2infinity.



DXY
Bullish short day. Midpoint below EMA(10). The 85.11 (fibo .1459) has been violated and also 80.95 (fib .09). No daily 3LB changes (reversal is 81.64).



VIX
Inverted hammer day. Midpoint below EMA(10). Still holding below weekly 3LB mid and monthly 3LB mid. Still below the SMA(89) and below the SMA(144). No daily 3LB changes (reversal is 24.25).



GOLD
Bullish short day. Above the SMA(21) and the SMA(89). Midpoint above EMA(10). Still above 14.6% retrace. No daily 3LB changes (reversal is 1195.70).



EURUSD
Bearish short day. Midpoint above the EMA(10). Tested and failed the SMA(144). Holding above 1.2935 (fib .1459). Still above the trendline (11/27/09-3/17/10). No daily 3LB changes (reversal is 1.2988).



JNK
Bearish short day. Tested and failed the 76.4% retrace. Still above all SMA's. Midpoint above EMA(10). No daily 3LB changes (reversal is 37.72).



GS
Bullish long day. Closed above the SMA(144). Still above 147.91 (fib .236). Midpoint above the EMA(10). The 38.2% retrace (153.99) was tested and passed. New high on daily 3LB (reversal is 152.58).



10YR YIELD
Bullish long day. Well below the 14.6% retrace. Almost touched the 0.0% retrace at 28.83 but ran away. Midpoint below EMA(10). Still below the SMA(21). No daily 3LB changes (reversal is 31.14).



DJ TRANS AVG
Bullish long day. Destroyed the bearish harami. Still trading above all SMA's. Midpoint above EMA(10). New high on daily 3LB (reversal is 4369.71).




LQD
Doji day. Above all SMA's. Midpoint above EMA(10). No daily 3LB changes (reversal is 109.62).





LEFTBACK'S BOND REPORT

The Bond Report 8.4.10

Not much good to say about fixed income today as investors abandoned bonds in droves, no not really, but there was probably some selling after a strong week or so in the bond market. Auctions ahead next week, so not unexpected. The 5y got whacked, but that was yesterday's big winner.

Corpies: LQD -0.31%; AGG -0.18%; JNK -0.23%; HYG -0.06%;
Govies: TLT -0.77%; IEI -0.33%; TIP -0.34%

We did nothing, although we remain alert, ready to buy on any deep selling of Treasuries this month. Basically we are totally convinced that interest rate risks remain low here, it's not like we are going to create a million jobs any time soon, right Mr Obama? Yup. Thought not...

23 comments:

karen said...

AR, you are always one step ahead.. : )

AmenRa said...

Karen

I do what I can. Do you think they are trying to get the 10yr yield higher before next weeks auction?

Anonymous said...

CV
AR
LB

Thanks for blog
charts,
comments,
everything!

18

Anonymous said...

@ CV, right after the olympics you said something about Vancouver r/e.

Today's Globe and Mail has a story,"Vancouver homes market goes cold". www.theglobeandmail.com

145 comments on that story.

45% drop y/o/y.

I have several uncles, residents of Vancouver, with inflated egoes(due ot flipping). I wonder how they fared?

From Canada

Nic said...

It might be old fashioned technical analysis but thats a triple bottom on that 10-yr yield chart ...

Nic said...

on twitter tonight:
"Im not a trader, I just eat a lot"

karen said...

Nic! the bottom on the ten year is closer to 2! Since July 1, we've gone sub 2.9, FIVE times.. look at the bond price chart and get ready for the 2008 high : )

Nic said...

Yeah you are right Karen. Ashraf just said FOMC next week is gonna kill it too.

McFearless said...

cool a wrap with a bond update. $$$.

thanks guys.

Karen,

it strikes me as odd that the majority of the "breaking news" from whatever site you are getting that stuff from is all about people dying....I'm not really sure I understand why that's the breaking news, lots of people die every day.

I find the whole ECRI debate such a complete waste of time....

are we going to double dip, we are, we aren't....blah blah blah,... who cares

distractions

Andy T said...

Random rant...


So, BP stock was back above $40 today and it seems like this well is going to get blocked permanently and it seems like they can't find any more oil.

When does Matt Simmons get permanently banned from the airwaves?

Has there been a worst call, ever? From June 9th Fortune article:
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
What do you think is in store for the future of BP?

They have about a month before they declare Chapter 11. They're going to run out of cash from lawsuits, cleanup and other expenses. One really smart thing that Obama did was about three weeks ago he forced BP CEO Tony Hayward to put in writing that BP would pay for every dollar of the cleanup. But there isn't enough money in the world to clean up the Gulf of Mexico. Once BP realizes the extent of this my guess is that they'll panic and go into Chapter 11.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

McFearless said...

I got this through Casey's Daily Dispatch which is a free daily:

http://www.breitbart.tv/congressman-at-town-hall-the-federal-government-can-do-most-anything-in-this-country/

“The federal government, yes, can do most anything in this country.”

Revolution!

Bruce in Tennessee said...

Well, I thought this was another slow day...I am intrigued by the thought that the federal government is going to once again give money to the states to help with a state function, that is paying teachers...

A side effect of this is the erosion of whatever rights the states thought they still had...and next year when there is another massive federal deficit and states need money once again for public employees, we will do.....

And it appears the tax cuts may be continued...

...CV, I think the economic laws of physics have been repealed...there is no equal and opposite reaction..all you do is spend without bringing in the dough...

Jennifer said...

@McFearless -- that was quite the video. Can't say I agree w/ the McDonalds bonds conclusion in the digest though...if I knew how to trade bonds, I'd buy those over lots of other stuff, starting yesterday.

karen said...

Andy, that icon is very debonair! it suits you, i think.. : )

I am the Ramsey in this story.. the founder's daughter-in-law..

http://www.sandiegoreader.com/news/2008/jul/09/city-light-1/

karen said...

Ben, what is movie-esque about that breaking news.. a train derails in India, a plane crashes in Kalamazoo, i get it all.. non-stop, your-number-is-up death every 15 minutes around the globe..

DL said...

K @ 10:34

Interesting.

McFearless said...

check out ARS, such a baller he pays above ask:

http://ny.curbed.com/archives/2010/08/03/business_reporter_pays_over_ask_for_upper_west_side_coop.php

karen said...

2nd bedroom didn't have it's own bathroom! not good for over $2m

karen said...

another BreakingNews story but I cut to the link.. another UFO cover-up:
http://www.msnbc.msn.com/id/38566733/ns/technology_and_science-space/?ocid=twitter

DL, you are frightening me with your unexpected comments..

DL said...

Karen @ 11:08

Nothing mischievous intended.

I was just trying to convey that I had read the article.

And thank you for sharing that bit of personal trivia.

karen said...

now your seriousness... smiling

see you all tomorrow! i have filled my belly with kashi cookies and pelegrino tonight.. not good!

wunsacon said...

I'm going to buy more commodities to protect my savings. The way things are going...it looks like currency collapse to me.

CV said...

NEW THREAD

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.