AmenRa's Corner

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




Creditcane™: I almost ruined September for everyone. Well there's always tomorrow.



SPX
Spinning top day. 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 all SMA's. Above 1110.02 (the .09 fibo from high) and tested 1151.86 (the .0557 fibo from high). No daily 3LB changes (reversal is 1125.07). QE2infinity.



DXY
Bearish short day (or mini bullish harami). Below all SMA's. Midpoint below EMA(10). Well below its 61.8% retrace at 79.72. No daily 3LB changes (reversal is 79.39).



VIX
Bullish long day (as compared to previous 10-20 days). Midpoint above EMA(10). Below weekly 3LB mid and monthly 3LB mid. Still below all SMA's. No daily 3LB changes (reversal is 23.89).



GOLD
Doji day again (but with more volatility). Still above all SMA's. Midpoint above EMA(10). Failed test of new 0% retrace again. No daily 3LB changes (reversal is 1298.00).



EURUSD
Spinning top day. Midpoint above EMA(10). Above its 50% retrace. Above all SMA's. No daily 3LB changes (reversal is 1.3467).




JNK
Hanging man day (escaped the other day but was recaptured). Above all SMA's. Midpoint above EMA(10). Above the 85.4% retrace. New high on daily 3LB (reversal is 39.65).



10YR YIELD
Inverted hammer day (also confirmed bullish harami). The 0.0% fibo retrace at 24.69 has held. Still below the weekly 3LB mid (27.60) and all SMA's. Midpoint below EMA(10). No daily 3LB changes (reversal is 27.95).



DJ TRANS AVG
Bearish short day (should have a gap up for shooting star). Holding above the upper trend line and all SMA's. Midpoint above EMA(10). No daily 3LB changes (reversal is 4475.12).



AAPL
Bearish long day. Above all SMA's (uh oh NASDAQ the pain cometh). Midpoint above EMA(10). No daily 3LB changes (reversal is 283.77).




GS
Inverted hammer day. Below all SMA's except SMA(89). Midpoint below EMA(10). Back below the 23.6% retrace. No daily 3LB changes (reversal is 154.37).







54 comments:

call me ahab said...

well-

I've decided I am not mad anymore-

yes the financial meltdown (and how it was dealt with) sent me over the edge w/ very negative feelings about the country, the economy, the future-

and destroyed my profits (to just a nudge above a zero percent return)- from a nice 23% return I had going for me-

that's what anger does for you-

in any event- I am pushing on to a less emotional approach to things-

yes- I was waiting for the collapse- so I could dance around in my jubilation that 666 was not the low-

and swoop in on some nice bargains- because my natural inclination is to be for something not against something-

and I watched the S&P inch up non-stop for months- expecting a big swoosh down once everyone came to their senses-

the market is irrational indeed-

and I missed out on beautiful buying opportunities (because- I knew it would soon collapse even further)-

but now- I am going to be like the Fonz- I'm going to be cool-

http://www.youtube.com/watch?v=8DU9iQMnVFM

karen said...

Ahab.. I needed that scene. Thank you very much.

AR, sighing.. today was crummy.. you depicted it well!

mcHAPPY said...

Positives, my friend. You still have what you started with. Not all can say that.

I don't know where we are going shorter-intermediate term (days to weeks) but I do sense we are going to have a little more volatility.

Bring on the VXX.

CV said...

@ahab

now THIS is Cool...

http://www.youtube.com/watch?v=QmdfD2byTuY&feature=related

ben22 said...

nobody can claim too bearish when 2.2 billion in Citi preferreds moved this week

are you kidding me?

CV said...

Speaking of VIX... I'm going to put another chart in the thread in a minute...

Jennifer said...

Well...I may not have any brilliant trading ideas for tomorrow (yet) but me and the young whippersnappers cleaned the basement so that's exciting...no more tripping on tinkertoys.

CV said...

new chart in thread

Bears might be rooting for the 13MA to "cross" up over the 55MA here (and take out that LD in the process)...

Perhaps...

Jennifer said...

In case anyone was wondering...just read that the Harvard University endowment posted an 11% return for the year ending June 30th.

CV said...

@jennifer

What's that in relation to how much Larry the Lounge Lizard lost for them?

call me ahab said...

mchappy-

yeah I guess- but now I'm like that old Bill Cosby skit- where the karate dude broke his hand on a cement block- so now practices on jello-

CV-

never saw that movie(maybe parts of it)- was that Dana Delaney at the end of that clip?

I always had a thing for her

Jennifer @8:50- WoW- tell us more(-:!

CV said...

In any case... I'm sure we can anticipate a "cracking" jobs report next Friday... (last one before elections)...

Charting Statistical Fraud At The BLS: 22 Out Of 23 Consecutive Upward Revisions In Initial Jobless Claims

http://www.zerohedge.com/article/charting-statistical-fraud-bls-22-out-23-consecutive-upward-revisions-initial-jobless-claims

CV said...

@ahab

Yeah Dana Delaney was hot...

Jennifer said...

A mere drop in the bucket I'm afraid...he pretty much lost the entire city of Allston as far as I can tell.

Jennifer said...

Bedtime rituals beckon...tales of lightsabre battles and crumbling lego castles must wait. Its standardized testing week...we must get a good night's sleep.

Anonymous said...

I liked that China Beach show w/ Dana Delaney but it only lasted one season.

call me ahab said...

2009 could be looked at as one non-stop short squeeze-

people buying the leveraged inverses from the folks who couldn't take any more pain and then selling to someone else when they couldn't take any more pain. . . etc.

this rain is ridiculous

call me ahab said...

I remember her from "Light Sleeper"- never saw China Beach-

but thought it lasted more than one season

McFearless said...

it's pretty much been coming down hard since I got up this morning ahab, some big trees in the road on my way home tonight.

call me ahab said...

and Jennifer Tilly was another- probably about the same age as Dana Delaney-

http://www.girlskickbutt.com/images/girls/jennifer_tilly/jennifer_tilly_007.jpg

call me ahab said...

b22-

non-stop since last night- ridiculous

CV said...

@ahab

Jennifer Tilley was in that movie "Let It Ride" with Richard Dreyfus...

A hilarious movie...

spoonman said...

Rain all day up here in MA too. It's beautiful though, I love it. Not paying much attention to the market here. I'll see you guys at 1170...

CV said...

http://www.youtube.com/watch?v=YUuFVVG0q-4&feature=related

call me ahab said...

I remember her from "Bound"-

I'll check that Dreyfus movie out- never heard of it-

the clip looks great in more ways than one(-:!

call me ahab said...

she's a poker diva now-

http://pokermitologia.com/biktop/pn/jt02.jpg

Jennifer said...

Anyone have any experience w/ non-profits? I'm currently the treasurer of my neighborhood moms group. We have about 65 members and an annual budget of between $2500-$3000. (You'd be amazed how much sugar $2500 buys.) Up until 2 or 3 years ago we had no formal organization. The treasurer at the time simply carried the checking account for the group under her own SSN. Then, a previous treasurer didn't care for that arrangement and wanted the group to get its own TIN. So, they incorporated as a 501(c) 7 non profit social organization. This seems pretty good, but there is a limit on revenue raising -- sources of revenue that are not membership dues can not exceed 35% of the total revenue raised through revenue dues. This is tricky for us since we keep dues low but sell ad space in our annual members directory (little neighborhood phone book). Ideally, I'd like a way to get around this -- either a different code section to incorporate under or it seems we could call the ad revenue "donations" and not count it as revenue. Thoughts? {might be off topic, but sure beats tinkertoys.}

CV said...

@ahab

The movie is hysterical...

Or... You can just watch this scene over and over...

http://www.youtube.com/watch?v=mdMkIQi94R0&feature=related

CV said...

@Jennifer

CV has basically been a "non-profit organization" all year...

ROR

But not the kind you're referring to...

call me ahab said...

CV-

worthy of a continual loop- both clips(-:!

Jennifer- sorry- no experience in that area at all-

curious- what's a mom's group do?

call me ahab said...

wow- feel like I living the Ray Bradbury story "The Long Rain"-

the skylight is driving me crazy- so loud

Jennifer said...

Ahab -- we welcome new people to the neighborhood, organize playgroups for moms and their kids based on the kids ages, have 3 or 4 moms' night out activities a year and 2 or 3 big couples activities (nice to give the husbands a chance to meet the people we talk about all the time) do a few small philanthropic activities (care packages to soldiers, food donations to the food pantry, school supplies for needy kids) and some bigger kids events like Easter egg hunts, Christmas caroling (no one knows the songs, but everyone comes for the hot chocolate -- I think the moms' hot chocolate is spiked) and the highlight of the year -- the Fall Flashlight Hike -- 250 kids running around in the dark on a golf course waving flashlights at eachother for an hour who then come to MY BACKYARD to roast marshmallows and make smores. Its a blast. So far, no one has ever burned themselves, any one else, or my house...lets keep it that way.

spoonman said...

Sorry Jennifer. I keep the books for my church, but all our incorporation nonsense was done before I got there. I know that we're a 501(c)(3), but I don't know what the restrictions are on us. We don't really sell anything, although we rent a couple rooms above our main space to some tenants. Sorry it's not that helpful, but that's all I got off the top of my head. I think 501(c)(3) means we're a charity according to the tax man, so if there's any charitable aspect to the group...? We have done larger events in partnership with businesses in the community where they make contributions and then we recognized them as "sponsors" or something like that. That money would have been a very small percentage of our operating budget though...

spoonman said...

ha, didn't see your comment before I posted...

call me ahab said...

jennifer-

that's a lot of work- I always knew I sucked as a parent-

kids still like me- and I am not even sure why

Jennifer said...

Thanks, Spoonman. I'll keep combing through the 501(c)s...there must be something better than 7!

spoonman said...

Good luck, Jennifer. Sounds like you're quite the mom. Personally, I hate the paper work stuff, but it has to be done I suppose...

CV said...

@Jennifer

If you get stuck on any paperwork, just use the approach of the BLS per my (9:04)...

Jennifer said...

You guys read this blog? http://www.whitecollarfraud.blogspot.com/

The disclosure alone makes me smile every time. This quote from the most recent post was great! "As an award, I am sending Comtech President and CEO Fred Kornberg a personally autographed Crazy Eddie Antar wanted poster. However, he will have to settle for my autograph since Eddie and I are not on speaking terms."

72bat said...

had thots of hanging about walmart near midnight to check out the reported shopping surge, but have been up too late and up too early all week long. anyone here an insomniac? ben?

call me ahab said...

72b-

you just reminded me- I meant to do that myself-

leaving now- I'm hungry anyway and Mcdonald's is right on the way-

will check in later or tomorrow

karen said...

Jennifer, you are quite "accomplished" after all.. everyday! and certainly not "old" to be involved with all those young ones..

i got some stuff done today, too, laughing..

-changed 3 light bulbs all by myself (req. a ladder, too!)
-herded a salamander looking lizard out of the house (w/o screaming once!)
-moved 2 heavy citrus trees using a dolly (good girl!)
-raked gravel
-met with contractors over balcony repair
-lost a lot of money
-watched the surf
-unmentionable with surfer

but the evening is not over! i always have my ironing : )

karen said...

Our Treasury, backstopping, promoting and profiting from fraud:

(Reuters) - The Treasury said on Thursday it will earn a net profit of $2.246 billion on the sale of Citigroup trust preferred securities and has cut its ownership stake in the bailed-out banking giant to 12.4 percent.

http://www.reuters.com/article/idUSTRE68T65K20101001

maybe i'm sounding to ZH-ish

Jennifer said...

Oooh...I love those real world updates -- can't wait to hear about your Walmart shopping experiences. That's what I miss most about Mike Morgan -- anybody follow him back in the day? He had a lot of good scoop on how bad things were going to get. But, it was so stressful he had a heart attack and when he mostly recovered he gave up all his work.

Jennifer said...

Not very ZH ish at all, Karen! I think I need to go to bed...'night all.

BinT said...

Wall Street Money Never Sleeps...

...Don't bother.

McFearless said...

I could go to a wal mart but Im not really feeling like it, maybe another night and I'll bring the video camera

karen said...

If you want to sleep tonight, do not look at futures..

I shouldn't be eating dinner this late at night.. dried pomegranate seeds..

AmenRa said...

I looked and made myself another drink.

karen said...

shoot, i'm afraid to check again! yawning, hitting power off.. i'll peek again in the morning.. expect the worse.. it's gonna happen.. sooorrrreeeee.

call me ahab said...

alright-

checked it out, a complete ghost town- but needed eggs anyway, so not a wasted trip

a lot of Walmart employees stocking shelves though

AmenRa said...

ahab

Maybe it depends on the neighborhood the Walmart is in.

CV said...

MORNING AUDIBLES UP - EARLY

call me ahab said...

Ra-

Loudoun County is one of the richest counties in the country-

so you may have a point

I am going to finish up this book I've been reading then hit the hay-

have a good night

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