Morning Audibles 9.30.10

Posted by CV on Thursday, September 30, 2010 /
Well... We made it to September 30th... If you look back at the charts from July 2nd, (the beginning of the quarter), I guess you could say that, with the help of Brian Sack...




No wait... Not THAT Brian Sack... (Oh well, we'll just go with it anyway being as it suits our purposes and all)... & Brians "tool" wielding friends...


Well, most "hedgies" out there have to be breathing a sigh of relief realizing that they've safely coasted across the finish line (with their redemption requests muted & bonuses in tact)...




It's even spurred some... (The "Wall Streeters" who don't manage to find time to take a 3 hour train ride down to Washington to give a Congressional testimony), but find plenty of time to BLOG... To let their hair down and have a little playful fun... 


Why... Here's an example (of "what say me"):



Contest: Ideas for Goldman Sachs Ad Campaign

Excerpt (from the TWSW blogs author)"

"My own contribution is decidedly simpler:


“Goldman Sachs: Like we give a fuck what you think of us  . . .”


CrowdQuery: Whats your best (no holds barred) idea for GS’s new ad campaign ? Give me your cleverest pithiest Goldman Sachs PR phrases, and I will make sure they find their way to the right persons . . ."

---

So if you're bored watching the algos this morning... Go over there and submit your entry... Yours truly has been effectively BANNED from posting at that blog, so I'll make my submission here...

Very Simple...

New Goldman Sachs (Lite) - We STILL answer to a higher authority

Come to think of it... The "idea" that TWSWB had, wasn't really a bad one... I mean, TWSWB is the self proclaimed host of the most intellectually stimulating blog this side of Mos Eisley in the known galaxy... That point is ETCHED & CASE HARDENED with comments like "Like we give a fuck what you think of us", is it not?

With thoughts like that, I too might have thought twice before appearing in front of a Congressional panel... Ask Roger Clemens...

As for me... Since I have nothing better to do than sit around and wait for a "short entry" into this market of fools, I'm thinking I might dream up the same kind of contest... Let's just point fingers at blogs like ZH (and insult their comment pool)... Then, let's follow that up by "piling it on" on GS... It's all in good fun, right?

In the end, as we all know... Any problems that exist...? (see below)

287 comments:

«Oldest   ‹Older   201 – 287 of 287   Newer›   Newest»
McFearless said...

I swear I saw the bootprint on the moon through my scope one night

it was that or cheese.

September 30, 2010 at 2:43 PM
McFearless said...

Karen,

all that matters is put/call has stayed under 1 all day.

September 30, 2010 at 2:45 PM
CV said...

BTW...

For those of you who never caught CV's "OSCAR PREVIEW THREAD" this year...

Here's the link...

http://traders-anonymous.blogspot.com/2010_02_28_archive.html

I pretty much nailed all the major category winners (save 1 or 2)...

But anyway... Many of the top movies like "HURT LOCKER" & "UP IN THE AIR" are now running on The Movie Channel & Showtime...

Some of you ought to catch those movies...

Then maybe you can see where CV's "picks" came from... (because I seriously doubt most of you had seen those movies before last March)...

September 30, 2010 at 2:48 PM
arbitrage789 said...

The next 3% move in the market is to the downside.

September 30, 2010 at 2:50 PM
CV said...

@MCF (2:41)

My FIRST & SECOND charts that I inserted into the thread today...

That's my blueprint, and I'm sticking by it until it collapses...

Or... If I get bored and looney... I'll just browse around the internet and search for "up-up-and-away" comments (or comments that try to convince me that stocks will go up because of THE ELECTIONS)...

September 30, 2010 at 2:53 PM
karen said...

DL, I think you or Andy promised me that last week : )

Or was it the week before, laughing..

September 30, 2010 at 2:53 PM
CV said...

@DL (2:50)

3%... from where we stand now... would take us to 1110...

That's the .09 fibo from 1220...

I like any FIBO numbers...

I don't care if they're up or down...

September 30, 2010 at 2:54 PM
McFearless said...

DL,

hope you are right, I nibbled short again this afternoon.

September 30, 2010 at 2:54 PM
arbitrage789 said...

Karen,

I'm sitting here on a stack of bibles, and I solemnly swear that the S&P will decline 3% before long.

September 30, 2010 at 2:56 PM
mcHAPPY said...

Today is the cleanest looking 5 ways down I've seen in a long time. It is evident in all markets. I wonder if it is the start of a zig-zag?

Do I hear a Tuesday 1095 on the SPX?

September 30, 2010 at 2:58 PM
CV said...

@McHappy

That would make me MCHAPPY...

It would perfectly conform to the chart in thread...

September 30, 2010 at 3:01 PM
McFearless said...

a 5 mcHappy but maybe not one that is impulsive....zig zag would make sense for a 2 of C, I'm going to try and catch some of it...and hey, maybe it is something even worse.

September 30, 2010 at 3:02 PM
mcHAPPY said...

The zig-zag comment was a slap to all bears. If we hit 1095 area with five waves down, of course, I'll be thinking it is impulsive. Unfortunately there is a long way to go between now and then.

September 30, 2010 at 3:03 PM
mcHAPPY said...

If we don't get through 1110, I'll have to think corrective. But if we get through it with five down, count me in for the impulsion.

September 30, 2010 at 3:04 PM
karen said...

DL, i'm an atheist, so swear away.. I can assure you no harm will come to you.

September 30, 2010 at 3:05 PM
karen said...

TRADER JOES CHILE RELLENOS, something to live another day for..

September 30, 2010 at 3:06 PM
CV said...

"IMPULSION"...

by Calvin Klein...

Isn't that the cologne that LB swears by?

September 30, 2010 at 3:07 PM
McFearless said...

Trader Joe....is he long gold too?

September 30, 2010 at 3:07 PM
CV said...

@karen

at least it's getting a little fun here in the afternoon...

Maybe it'll cure your headache...

September 30, 2010 at 3:08 PM
karen said...

this is what we have to look forward to tomorrow: The 2010 edition of the Stock Trader's Almanac notes that in the 12-year period ending May 2009, the Dow Jones industrials "gained more points on the first trading days of all months than all the other days combined." The tally: plus 4,399 points on the first days of months, vs. a loss of 3,809 points the rest of the days.

http://www.fundmymutualfund.com/2010/09/amazing-stat-over-12-year-period-you.html

September 30, 2010 at 3:08 PM
McFearless said...

CV,

speaking of, did you see your girl has come out with her own scent:

http://shop.avon.com/shop/product.aspx?newdept=&s=AV_GGL_NB&c=iProspect&otc=keyword&bnd=&pf_id=39692&level1_id=300&level2_id=304&pdept_id=353&ym_mid=&ym_rid=

September 30, 2010 at 3:08 PM
GOLDMEMBER said...

I'm long gold

September 30, 2010 at 3:09 PM
CV said...

@karen

YEAH... and SEPTEMBER is historically the WORST trading month...

PASS

September 30, 2010 at 3:10 PM
karen said...

CV, when you find the fun, please show me where it is.

September 30, 2010 at 3:10 PM
McFearless said...

where's the page in the traders almanac where hirsch says DOW 38k?

full disclosure: I do buy one every year

September 30, 2010 at 3:10 PM
Jennifer said...

Hadn't been to TBP since the "can you really break your *****?" link day. Just read the GS slogan list...Number 1 brought tears to my eyes.

September 30, 2010 at 3:10 PM
McFearless said...

@Jennifer,

do you subscribe to the gloomboomdoom report?

September 30, 2010 at 3:11 PM
Jennifer said...

Is that Faber? Nope. I suspect its out of my price league...but I never really looked into it. I'm pretty maxed out in the reading category right now anyway.

September 30, 2010 at 3:12 PM
Jennifer said...

I get Fred Hickey though...I can pass that along when the next one comes in if you are interested. Its only once a month though, and ironically, the newsletter titled "The High Tech Strategist" only comes via snail mail.

September 30, 2010 at 3:13 PM
McFearless said...

I'm very tempted to back up the truck on the dollar though I need to think more about where I want the stop.

September 30, 2010 at 3:14 PM
CV said...

@karen (3:10)

Coming right up...

September 30, 2010 at 3:15 PM
McFearless said...

it is Faber, but it's really cheap, I think $250-$300 for the year (well, cheap compared to some anyway)

he's really been on fire since 2007, I don't know that the letters are really actionable, because it's typically some charts with his opinion but not too specific, but he's really nailed most of his big calls since early 07.

He did rec' a shot at shorting appl in the last one, hoping he prints a new one this weekend.

Hickey always seems to be one of the voices of reason at the annual Barron's Roundtable...of course, a monkey would seem like Einstein next to that Joe Cohen guy.

September 30, 2010 at 3:16 PM
McFearless said...

Faber is a once a month as well, sometimes with a special report from a guest, and those are typically very good.

that's funny that letter comes regular mail...who is still doing that?

heck, Martin Armstrong is in jail and you can get his stuff on-line.

September 30, 2010 at 3:18 PM
mcHAPPY said...

a hard reversal at 1148 would be nice.

September 30, 2010 at 3:20 PM
CV said...

@Karen

new chart in thread

5 down? 3 up?

MEH - It's possible... (at least I know where my stops are)... :-)

September 30, 2010 at 3:20 PM
Jennifer said...

Hickey seems like he'd be nice to know in person, but the newsletter isn't too actionable. I guess if you lived in a cave you could get all caught up with the real scoop if you read nothing but Hickey. Otherwise, there's lots of back-patting on fantastic puts that he's bought and already sold at a huge profit. He likes gold and MSFT. That's pretty much constant. Otherwise, nothing terribly insightful imo. Thinking he might get kicked out of the collection whenever his term is up. Maybe I'll add Faber. You're right, that price isn't bad (less than the individual investor price Reggie Middleton used to charge!)

September 30, 2010 at 3:20 PM
arbitrage789 said...

You can subscribe to one of these newsletters; maybe two. But beyond that, they better be giving you some actionable (and correct) information.

September 30, 2010 at 3:21 PM
McFearless said...

alright, I'll be back at the close, I have an urge to play some Heart and watch my screens.

I love some Ann and Nancy Wilson.

September 30, 2010 at 3:21 PM
karen said...

CV.. that chart! no wonder my head hurts..

September 30, 2010 at 3:26 PM
Jennifer said...

DL -- maybe I should explain my addiction. I was overcompensating for my complete lack of technical background. Fundamentally, I could see 2008 coming a mile away, and even managed to trade it reasonably well all things considered. Didn't have a margin account until October of '08. Managed mostly w/ inverse ETFs until I was all in SKF the night of the short sale ban. The ensuing panic set off a chain of bad decisions and I gave back pretty much everything I had made for the whole year that day. So, I figured I needed to learn more about how to do this -- and fast. So, I went a little overboard in the "study aid" department. I'm weaning myself, but slowly.

September 30, 2010 at 3:26 PM
CV said...

"a monkey would seem like Einstein next to that Joe Cohen guy..."

ROR

"heck, Martin Armstrong is in jail and you can get his stuff on-line."

RMFAO

Actually... CV happens to have a video clip of the last BARRON'S ROUNDTABLE...

http://www.youtube.com/watch?v=juClsOrfAs0

September 30, 2010 at 3:28 PM
karen said...

NicTrades

%SPX chart posted 22Sep, measured move complete http://stock.ly/0atjnu

September 30, 2010 at 3:29 PM
CV said...

@karen

My guess is that I-Man nailed all the reversals and is going to be chiming in here soon (after the festivities have concluded)...

September 30, 2010 at 3:30 PM
CV said...

@McF (3:21)

Here... I'll help you out...

http://www.youtube.com/watch?v=4gpNqB4dnT4

September 30, 2010 at 3:32 PM
arbitrage789 said...

Jennifer @ 3:26

You can get a lot of “bang for the buck” by reading a book on technical analysis. Plenty of them around. Michael Kahn’s book isn’t bad, for example.

September 30, 2010 at 3:34 PM
Jennifer said...

I've spent a lot of time in that section of the library...I don't think I've read Kahn's book though, so I'll check it out. Thanks for the suggestion.

September 30, 2010 at 3:36 PM
karen said...

I think Nic's chart is really quite spectacular.. but where now ?

http://stock.ly/images/charts/full_0xw3bkz6.gif

September 30, 2010 at 3:41 PM
CV said...

@karen (3:29)

If they BEND TIME BACKWARDS, they can get the most recent parabola to the April highs by the... DRUMROLL...

ELECTIONS!

cannons boom... confetti falls from the sky... orchestra plays... choir sings... angels flutter... cats & dogs live in harmony... donkeys & elephants unite!

September 30, 2010 at 3:41 PM
karen said...

ha! she just answered my question.. with another chart at least:

http://stock.ly/content/details/4136

September 30, 2010 at 3:44 PM
karen said...

crazy $spx candle today..

September 30, 2010 at 3:45 PM
mcHAPPY said...

This is astonishing how fast things have turned around. I'm trying to be subjective and not let the EWI updates influence all my thought, but if you think where we were at the end of August to where we are at the end of September, it is night and day, black and white, chalk and cheese, oil and water, get the point?

This is not normal for such a drastic in ONE months/4 weeks.

If it was impulsive I would expect there to be many doubters - but there is not.

Outside of orthodox EW'ers, who are being ridiculed daily, I'm not hearing much about going down any time soon.

Glenn Neely is gone bullish near term. Time will tell.

I think the 1090-Karen's top is very important near term.

September 30, 2010 at 3:45 PM
karen said...

in case anyone missed the Whitney chat..

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aw9Q_5AAfOHA

September 30, 2010 at 3:46 PM
CV said...

@karen (3:44)

Oh... there you go... Cv's famous 1065 level...

September 30, 2010 at 3:46 PM
mcHAPPY said...

Karen,

Nic's chart is the ultimate quandry for EW'ers if it comes true. If that comes to be, then RP and GN will have very workable counts going. Max confusion with drastic near term consequences.

September 30, 2010 at 3:47 PM
CV said...

@karen

Even the "lower band" of CV's first chart in thread today points to 1065...

If we want to go there...

I'll take it one step at a time...

September 30, 2010 at 3:48 PM
karen said...

1065 is the fulcrum.. no doubt, important

September 30, 2010 at 3:50 PM
karen said...

tradefast

so much drama - meanwhile, $SPY is trading about a penny from monday's close, and has traded in a 50 cent range all week (closing basis)

September 30, 2010 at 3:53 PM
Jennifer said...

Karen -- that October 5th date matches up nicely with some of the candle patterns you've pointed out...we would need 2 more candles to duplicate the pattern from the August peak.

September 30, 2010 at 3:54 PM
karen said...

he is absolutely right.. i just plotted it..

September 30, 2010 at 3:56 PM
CV said...

I'm sticking by my charts... ABOVE

We could see an OCTOBER candle that stretches all the way down to 1065... and all the way up to 1190's...

September 30, 2010 at 3:56 PM
I-Man said...

Anyone seeing this defense?

On YM it is 10730, and it aint budging...

September 30, 2010 at 3:57 PM
karen said...

It's all a bit freaky to me, Jennifer : )

September 30, 2010 at 3:58 PM
I-Man said...

I think its 1136 or so on ES, judging from the gargantuan congregation of bids there.

September 30, 2010 at 3:59 PM
CV said...

@I-Man

I see it... But I'll also contribute that I see it potentially a MONTHLY defense...

Which means... at the exact moment of this post...

IT's over...

September 30, 2010 at 3:59 PM
karen said...

http://www.zerohedge.com/article/mexican-central-bank-takes-fx-warfare-21st-century-writes-600-million-worth-dollar-options

September 30, 2010 at 4:00 PM
I-Man said...

Conspiracy aside, someone has a an interest in supporting that level, and it aint I-Man...

September 30, 2010 at 4:00 PM
CV said...

@karen

Put it this way...

If we do go down to 1065 (which I have no doubt we will at some point)...

I'm expecting it to occur in a FLASH CRASH manner...

Hell - They've even been giving AAPL the "flash crash" test drive this past week...

Just to see how she runs... Kick the tires a little...

September 30, 2010 at 4:02 PM
CV said...

@I-man

"has" or "had"...

Quarters over brah...

September 30, 2010 at 4:02 PM
arbitrage789 said...

Mary Schapiro promised no more "flash crashes".

September 30, 2010 at 4:04 PM
I-Man said...

The waterfall pattern is a strong one... and it will replicate on the daily and weekly charts...

Just gotta get us one on the hourly charts, and we're golden.

I-Man has taken note of a few of them on the 1min charts this week... that eery feeling of no bid has to have the working group a bit perplexed...

September 30, 2010 at 4:07 PM
CV said...

@DL

Promises?

http://www.motifake.com/image/demotivational-poster/0909/promise-me-hermione-finally-uses-her-magic-wand-on-harry-demotivational-poster-1254057213.jpg

September 30, 2010 at 4:07 PM
McFearless said...

well, we'll see what tomorrow brings, gonna be a fun one.

Until then, i've got ann and nancy, and my joe banks card, so just like the wizard....I'm all set.

off to meetings, see you all tomorrow.

September 30, 2010 at 4:12 PM
CV said...

I can't wait to see what AMEN RA makes out of today's daily candle...

Besides a brooch, or a hat, or a teradactyl...

September 30, 2010 at 4:18 PM
CV said...

http://www.youtube.com/watch?v=em9PtzQzWOg

September 30, 2010 at 4:19 PM
karen said...

i'm eating an arugula salad.. with tuna, a whole avo, raisins, goat cheese brie, black pepper, olive oil and lots of balsamic..
my headache is dissipating already : )

September 30, 2010 at 4:20 PM
karen said...

http://mrtopstep.com/2010/09/30/ffffade-away-day/

September 30, 2010 at 4:21 PM
karen said...

PIMCO

Gross: In the old normal, prosperity & overconsumption were driven by asset inflation that in turn was leverage & interest rate correlated.

September 30, 2010 at 4:23 PM
CV said...

That sounds pretty good...

I'm cooking pasta sauce out of my harvested tomatoes...

September 30, 2010 at 4:23 PM
CV said...

"Gross: In the old normal, prosperity & overconsumption were driven by asset inflation that in turn was leverage & interest rate correlated."

Translation: "Please DOG... Let me sound intelligent, so that even though I went to Duke & UCRA... not Harvard... the teleprompter in chief will appoint me to his new econ staff...

September 30, 2010 at 4:26 PM
karen said...

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aHl_oMqgz7h0

Waddell & Reed E-Mini Trades Said to Help Trigger May 6 Crash

September 30, 2010 at 4:27 PM
CV said...

AAAAAH...

u sopri I speeka u RANGUAGE...

Bu u fo-geh I were educata eh UCRA!

September 30, 2010 at 4:28 PM
karen said...

nevermind.. you all watched Danny and Tim earlier.. I just got to it..

September 30, 2010 at 4:30 PM
karen said...

CV, hope you are using lots of garlic! bet that smells mouth-watering..

even with my bib, i still got balsamic all over my white linen blouse.. i warned myself!

September 30, 2010 at 4:32 PM
CV said...

Gotta go peeps...

Cya all in "the Corner"...

September 30, 2010 at 4:33 PM
CV said...

@karen

Just turned the burner off...

It's been simmering for hours... I'm outta here for a bit... :-(

be back later...

September 30, 2010 at 4:34 PM
I-Man said...

Inspired to make a red sauce now...

Not pasta sauce per se, just an all around sauce.

Good for dumping on beans and rice, quinoa, and such.

I like to put spinach and arugula chiffonade up in mine... also basil, golden oregano, and parsley.

And of course, a messload of garlic.

September 30, 2010 at 5:07 PM
I-Man said...

BTW,

Anyone else getting sick of squash and green beans?

September 30, 2010 at 5:08 PM
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