You know... THE FUN... Here's what it looks like... Remember that 1051.87 was yesterdays close on the S&P... I can't tell you how many times the "low", or point of recognition has occurred in the first 5 minutes this summer by the thug algos... Most of the time it happens right on FIBO extensions... So when I see 1042.75 on the heat map, and realize that the .009 FIBO from yesterdays close is 1042.40... Then those are things that make you go HMMMMMM...
1040-1040 have also been important technical levels for all of 2010... I know I don't have to tell any of you hardcore traders that, but the more casual readers should know... So the market is REALLY deciding something important here... Whether to "give it up" now, or DELAY "giving it up" until possibly after Labor Day... The dollar seems rather quiet (all things considered), but gold seems to be getting more expensive again (in Euros)...
Hold onto your hats... While it may or may not turn into a wild day (day after 3rd Hindenburg Omen confirmation)... It sure looks like it's going to begin that way... The NIKKEI was trying hard "not to lose" the psychological 9,000 level... Result? Epic Fail...
In Tokyo they were singing... NIKKEI Don't Lose That Number
So... Huckleberry's... Pick up the phone, pick some stocks, and have yourself some FUN...
250 comments:
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August 25, 2010 at 4:34 PM
«Oldest ‹Older 201 – 250 of 250 Newer› Newest»you aren't talking about soul sister are you?
that's Train.
mrtopstep
Stewart fut.MON [01:18:51 PM]: $ES_F needs to hold above 1050.25 to get a bullish bias
U.S. stock indexes edge into positive territory, with Nasdaq leading gains
08/25/2010 02:38:47 PM
(pls don't laugh)
@mcf
Your boy MAXCHERRY is over at Dan's with about a dozen charts to make a case for being a "nervous" bear...
I'll have to check them out, if they are wave conunts he's extremely sloppy with his counts, but he's tight with fibo and some other stuff, this is what the decline was supposed to be all about btw, nobody can figure out the direction all the way down, bulls keep buying, bears keep selling too soon.
good luck to us all the next 12 months, we will all need it, 2008 and 2009 had clearly defined trends, where we are now....not even close.
This one is for you, CV:
Market Up, Because It Was Down..."
Obviously the macro guy/gal was out getting coffee....
@b22
a lot of it is loosely tied into the mid term election cycle...
also... It basically seems to creatively "re-worked" the wave counts to reflect a MID-TERM LOW (which has happened many times in 4 year cycles...
Then, to top it all off, he's trying to say that since the market hasn't capitulated YET on all this bearish news (cardinal crosses, h.o.'s, death crosses), then you should take notice...
I just think he's bored & impatient...
Nouriel Roubini Tweet:
@Nouriel
Q3 GDP growth very likely to be below 1%; and likely to be closer to 0% than to a pathetically lousy 1%. So double dip risk is now > 40%
@LB
Ah yes... the famous FLOOR (1040)...
Let me write the headlines...
"Stocks rallied because they hit a FLOOR in the economy"... There is nothing under that floor so it's not possible to drop any further..."
There's never a CEILING though... They can go as high as they want...
ben.. laughing.. maybe that was it.. yes.. cuz it was a band i knew.. i'm an idiot! what can is say.. thanks : )
thanks, nic.. i can't be retweeting every second for these fellows..
I think that Q4 zero or near zero growth is now more or less priced in, and that is really as near a double dip as makes no difference.
The question now is: what does Q1 look like? Is QE2 on the way?
A floor and a ceiling would be good.
Love range-bound trading.
for ben: PIMCO, El-Erian: Disappointing numbers in housing, trade and employment all point to the economic recovery losing momentum.
and to think he gets paid the big bucks : )
CV,
"a lot of it is loosely tied into the mid term election cycle"
yuck, color me uninterested in such things.
Karen,
wow, some magic insight there from El-Erian. I'll submit that some of the housing data looked "ok" in 09, but to try and indicate that employment data is worse now, which implies that it had gotten better, that's a bunch of shet.
"Disappointing numbers in housing, trade and employment all point to the economic recovery losing momentum."
Oh... but if the government passes a $5 trillion dollar stimulus package, the recovery will be BACK ON right?
Franklin?
Karen - re high yield ETF's
http://blog.kimblechartingsolutions.com/2010/08/billion-dollar-inflows-into-high-yields-of-late-how-are-prices-doing/
@b22
"color me uninterested"
Exactly...
OK... I'm going to compare 2006 data, 2002 data, 1998 data, 1994 data, 1990 data, 1986 data and 1982 data and come up with some real hard conclusions...
pls hold everything (down) while i get the margaritas going : )
ZeroHedge - The elusive Canadian Housing Bubble
Nic,
Some of the MACRO TOOLS™ who were short Ts may have been long HY ETFs as part of a pairs trade. So the unwind may have also affected these. LB has observed that they are being bought every afternoon when they are down. Would not be surprised to see JNK bounce off its 55 DMA.
I mean hell...
We were in a recession in '02, '94, '90, & '82...
'98 was the fall-up after LTCM
'86 & '06 you still had mortgage equity tailwinds
ALL in a credit bubble...
Yeah... Stocks go up!
was this posted already? Collector Pays More Than $30 Million for 1936 Bugatti, http://www.youtube.com/watch?v=8qa-SIhIgmM
"pls hold everything (down) while i get the margaritas going : "
It's hard to keep a good man down, Karen.
Especially when you are around.
MUST... NOT... LET... DOW... UNDER... 10,000
Dow under 10,000
with Obama in Martha's Vineyard & Bernanke at Jackson Hole...
Bad television there...
Don't worry guys... RACHEL & KEITH will cover for you by pummeling the airwaves on how white males are racists & anti-semitic...
mrtopstep
[02:29:33 PM]: SPX vs 1052 mar 875 puts 35.80 bid, seeing @ 36.10 21^
mrtopstep
no proof reader quit s/b hold 1050 of course would not mention 1150 we leave the long term stuff to Top Notch... like his 1037 today!!!
I'm wondering if it doesn't settle right here at 1058...
Why?
Because a .009 rise from here would effectively JUMP THE SHARK tomorrow morning on that gap from Tuesday morning...
1067.5
You know who could be back tomorrow....
"The Shark" is 1065
I'm knocking...
eh, dan's site is slowing my whole computer down, will have to look later.
@b22
that's why I don't put any gadgets on this blog...
It bogs things down...
Unless you people are pining to see Jim Cramers face in the margins...
this should spark a few comments:
http://finance.yahoo.com/news/Food-price-inflation-lowest-rb-3475577603.html?x=0&sec=topStories&pos=1&asset=&ccode=
Have a nice ride, Karen.
(To the airport....)
yeah his site and Kenny's site
slllllloooooooooowwwwwwwww
Naked Capitalism Guest Post: Gulf Chemist Says Mercenaries Hired By BP Are Now Applying Toxic Dispersant – at Night and In an Uncontrolled Manner – Which BP Says It No Longer Uses
CV
My computer automatically shuts down if "he" appears anywhere on the screen.
If you say "Booyah" 3 times in a row... His face appears out of nowhere...
LB.. i'm hiring his friend to take him.. which is even more reason why tonight's gonna be a good night !!
CV
Is his office in a building that looks exactly like the one across the tracks? One is office/condos. The other is the projects.
@karen
Yeah I was going to ask you how you expected to combine those margaritas with a drive to the airport...
@Amen
I kind of was thinking "Joker - JOKER - JOKER!" - from the Jokers Wild...
(Cramer)
Hypo’s U.S. Property Woes Crystallized at Snowmass Ski Resort
http://noir.bloomberg.com/apps/news?pid=20601087&sid=a9zH9RuUDPOM&pos=7
And yet, US gov't owned Stowe resort(AIG), continues construction.
mrtopstep - $ES_F SPU CASH CLOSE 1053.30 Goldman sold 5-600 going into the close
PIMCO, El-Erian: We hope policymakers will move from being cyclically focused to dealing with the structural issues that our economy faces today.
what i am really excited about? it's only wednesday! we get to do this again tomorrow !!
The Bond Report 8.25.10
Another bizarro day in Bond World. After ticking 2.419% this morning, the 10y immediately reversed and finished the day at 2.54%. HY recovered well during the day and was bought heavily in the last half-hour, as usual. That's where the PROS trade, son. IG was steady.
Corpies: LQD 0.19%; AGG -0.23%; JNK -0.05%; HYG -0.13%;
Govies: TLT -0.33%; IEI -0.26%; TIP 0.00%
Hedgies: TBT 0.72%
LB is now only involved in IG and HY, so the action in the Treasury pit was simply the amusement du jour. There is a POMO in the 10y/30y tomorrow, and we expect to see a lower high in TLT, or a higher low in the yield, that might be a good place to start shorts, now that there are no shorts any more.... but our attentions are elsewhere for now.
Karen,
If you're excited, I am excited.
Hope you have an exciting day....
We'll be back tomorrow... for THE FUN...
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