AmenRa's Corner

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



Creditcane™: I faked left then I faked right. Traders are clueless.



SPX
Spinning top day (also formed a bearish harami). Midpoint above EMA(10). Still above the trendlines (3/6/09-7/1//10), (2/5/10-5/6/10) & (4/26/10-8/9/10). Above the SMA(21), SMA(55), SMA(89) & SMA(144). Above 1110.02 (the .09 fibo from high). No daily 3LB changes (reversal is 1104.51). QE2infinity.



DXY
Bearish short day. Below all SMA's. Midpoint below EMA(10). Tested and failed its 50% retrace (and failing its weekly 3LB mid). New low on daily 3LB (reversal is 82.05).



VIX
Bearish short day again. Midpoint below EMA(10). Below weekly 3LB mid and monthly 3LB mid. Still below all SMA's. No daily 3LB changes (reversal is 23.89). Trending down on daily 3LB.



GOLD
Bullish short day (confirmed bearish thrusting). Still above all SMA's. Midpoint above EMA(10). Made a new 0% retrace. New high on daily 3LB (reversal is 1252.10).



JNK
Bullish long day. Above all SMA's. Midpoint above EMA(10). Still above 76.4% retrace. New high on daily 3LB (reversal is 39.49).




10YR YIELD
Bullish short day (stomped on the dragonfly doji). The 0.0% fibo retrace at 24.69 has been holding. Back above the 14.6% retrace (26.94) and below the weekly 3LB mid (27.60). Midpoint above EMA(10). No daily 3LB changes (reversal is 24.99).



AUDJPY
Spinning top day. Now above its 50.0% retrace. Did not test the 61.8% retrace. Midpoint above EMA(10). Above all SMA's. New high on daily 3LB (reversal is 77.0369).



TLT
Spinning top day. Now below the SMA(55). Tested trend line and passed. Midpoint below EMA(10). New low on daily 3LB (reversal is 102.79). Trending down on the daily 3LB.



CRB
Doji day (confirming the bearish harami). Held the 85.4% retrace at 277.70. Midpoint above EMA(10). Above all SMA's. No daily 3LB changes (reversal is 274.27).



DJ TRANS AVG
Bearish short day. A day late confirmation of the evening star? Holding above the upper trendline and all SMA's. Midpoint above EMA(10). No daily 3LB changes (reversal is 4401.18). Trending up on the daily 3LB.


13 comments:

DL said...

CV @ 3:51

FYI,

I went short today.

McFearless said...

DL,

good luck man.

all,

check out XLF option activity today, tomorrow may in fact end up being a pretty exciting day, postpone the golf until twilight.

CV said...

Check this out...

GUBBMINT sticking its "sticky mitts" into things again...

http://seekingalpha.com/article/225579-congressmen-weiner-and-waxman-set-gold-hearing

McFearless said...

nice, from CV's link:

"Under Rep. Weiner's bill, companies like Goldline would be required to disclose the reasonable resale value of items being sold." That's great. Are Mr. Weiner and Chairman Bernanke also going to agree to print on every dollar the reasonable expectation that its value will be eroded by inflation?


I really hope these guys just keep pressing their luck, gonna be a sad day for them in the not too distant future.

in any event, interesting date they picked for that hearing eh?

CV said...

@McF

That's why I said b4 that I'm taking your implied strategy...

CV is voting for ALL INCUMBENTS in the upcoming elections...

I want them around to tar and feather for the next 2 years...

Not much else to do...

CV said...

after all... there might be an NFL lockout next year...

Tar & feathering idiot politicians will be the only entertainment around...

CV said...

@DL

Welcome back!

I didn't even see your post there...

McFearless said...

it just goes to show CV, the central banks are hardly in control, I know gold has to be freaking out beard boy lately, I bet the mere thought of it turns that beard white lately.

maybe he'll have a future in just for men ads after this all blows up on the depression expert.

CV said...

Here's something to probably look at if & when anyone has time...

I haven't gotten thru it all yet...

Peter Orszag on Charlie Rose - 9/15/10

http://www.gawkk.com/charlie-rose-s18-e168-peter-orszag/discuss

CV said...

@All

NEW THREAD UP

Sorry Amen... I don't want to intercept your WRAP UP post here... But this interview I dredged up was fascinating and I wanted to get it up as the EARLY "Morning Audibles" for tomorrow...

Saves me from having to "mix it up" with a quad witching Friday, in kooky markets, that I have no idea which way will play out...

Most readers here (and I KNOW, you yourself) will appreciate this interview (if you haven't seen it already)...

It takes an hour to get thru, so I thought it was better suited for a Thursday Evening, instead as a EARLY MORNING piece on a quad witching Friday...

I know you'll understand...

Fantastic Interview S'Capitalists...

McFearless said...

having a little fun, check this out:

http://www.graspthemarket.com/articles/20091125a.php

The final season kicked off this week.

Maybe interesting, fun either way.

Andy T said...

Some anecdotal info:

Columbus Day weekend is a three day holiday for me and is also my B-Day. Was thinking about going to Vegas for the weekend....

Been investigating rooms/flights the last 48 hours. The prices are jumping pretty hard in just a two day period. Basically, Vegas, at least in the good spots, is getting booked. Places that could be had for "a song" last year are much more expensive. Maybe it's the holiday weekend or something...but, I'm actually surprised at how expensive it will be to stay somewhere on the Strip.

Bottom Line: Two years ago, Vegas was a fantastic bargain. Right now, not so much....

There has been a little "bottoming action" out there in the desert.

CV said...

@Amen

Ra - in your spare time...

Could you do a MONTHLY 3LB scenario on CAT... Then post it on your blogsite...

amenras3lb.blogspot.com

Then - link that here?

I'd like that... (& I'm certain others would too)...

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