AmenRa's Corner

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



Creditcane™: The little engine that could is still chugging away. Time to pull out a few spikes.



SPX
Bullish long day (bah humbug). Midpoint above EMA(10). Above all SMA's. Tested and passed 1177.84 (the .0344 fibo from high) again. New high on daily 3LB (reversal is 1165.32). QE2infinity (aka the beginning of the end).



DXY
Gravestone doji day (aka really wants to go higher). Midpoint below EMA(10). Tested its 76.4% retrace at 76.29 and failed. Well below 78.41 (.0557 from low). No daily 3LB changes (reversal is 77.32).



VIX
Bearish long day (c'mon man). Midpoint below EMA(10). Below weekly 3LB mid and monthly 3LB mid. No daily 3LB changes (reversal is 21.21). Still hanging about in the "no fear" zone.



GOLD
Hanging man day (they really want this thing to reverse lower). Way above all SMA's. Midpoint above EMA(10). No test of new 0% retrace. No daily 3LB changes (reversal is 1347.70).



EURUSD
Bullish short day (failing to confirm dark cloud cover). Midpoint above EMA(10). Above its 61.8% retrace at 1.3899. Above all SMA's. No daily 3LB changes (reversal is 1.3840). Table throwing at the G20…yes!



JNK
Bullish short day (must…make…my…bonus). Above all SMA's. Midpoint above EMA(10). Closed back above the 100% retrace. No daily 3LB changes (reversal is 40.01).



10YR YIELD
Bearish short day. The 0.0% fibo retrace at 23.59 is the line in the sand. Back below the weekly 3LB mid (25.35) and SMA(21). Midpoint above EMA(10). No daily 3LB changes (reversal is 23.81).



DJ TRANS AVG
Bullish short day (possibly making a rising three method pattern). Holding above the upper trend line and all SMA's. Midpoint above EMA(10). No daily 3LB changes (reversal is 4583.57).



CRB
Bullish long day. Midpoint above EMA(10). Above all SMA's. Still failing the Gann 1x1. No daily 3LB changes (reversal is 299.93).




YEN (FXY)
Spinning top day. Above all SMA's. Midpoint above EMA(10). Tested and passed its new 0% retrace. New high on daily 3LB (reversal now 121.03).




DO NOT TURN OFF YOUR TV. DO NOT TRY TO CHANGE THE CHANNEL. WE CONTROL THE VERTICAL AND THE HORIZONTAL. IT'S ...

44 comments:

I-Man said...

History Lesson:

http://www.martinarmstrong.org/files/Nice%20Try%20but%20No%20Cigar%2010-9-2010.pdf

Some great quotes in this one...

Anonymous said...

the fed needs to buy apple to prevent a correction (given the weight of apple in indexes) tomorrow

I-Man said...

"Former NFL star linebacker Junior Seau drove off a cliff and was hospitalized with minor injuries Monday, less than nine hours after he was arrested on suspicion of domestic violence."


C'mon man...

cv said...

@AndyT

I've been more on a "Gin" run lately. Been enjoying the Tangueray and Bombay. For some reason, been tasting better than the Vodka to me...

---

http://www.youtube.com/watch?v=o6TUhx2wX0M

With regards... From I-Man & CV

"Raise up off these N-U-T-Z... cuz u gets none of these"... At ease...

cv said...

with my mind on my money and my money on my mind...

Andy T said...

"wunsacon said...
>> Octomom is getting foreclosed on

Did you see the ZH post regarding the Earls??

http://www.zerohedge.com/article/clusterfuck-complete-meet-those-most-hurt-earls-squatting-conejo-capital-partners-and-soon-m

9 friggin kids and they buy a $500k home?

October 18, 2010 6:42 PM"
~~~~~~~~~~~~~~~~~~~~~~~~~~

Pretty amazing stuff there. The part that got me was not that they had purchased a 500k house...it was that they refinanced it for 1,000,000 and took the equity out.

Where did that money go?

These poor victims....

Can't believe that some of these banks made these kinds of loans. The banks deserved to lose everything on these loans and go bankrupt (if applicable) and the idiots who took on the debt they couldn't service deserved to go bankrupt.

Amazing country...

prosciutto gristle said...

Hey, how come you guys haven't discussed Hussman's latest? The guy is a genius, and he sounds none too sanguine. The inflection point can't be too far off.

God I miss mannwich.

karen said...

Andy @ 8:18, TMI.. now we know where the $100k came from... Replicate this case thousands of times and acquaint yourself with the american way!! i'm beginning to think i cannot leave fast enuf.

Barney Frank said...

The Earls should get bailed out if they're underwater.

Or at the very least, a foreclosure moratorium for another two years.

DL said...

Karen @ 9:05

Leave??

Anonymous said...

This question is for McF if he's out there - regarding Neely's count - if we are in 5 of 3 of C, what is the projected low for 4 of C?

ben22 said...

anon,....1155-1160ish for wave 4 on that count....

ben22 said...

@wunsacon....bottom thread, nah, hadn't seen the Earls, but yeah, would love to know how anyone with that many kids can afford a home that expensive.

I just got home so I need to spend some time looking through all the odd lot orders that came through on AAPL after hours....I need a laugh to wrap up my Monday.

ben22 said...

also, anon, GN only has us in 3 of C....he's got the terminal C wave ending as high as 1225, 1230....this would match some targets Nic was putting out on her blog today based on some fibo work. Nic's got game.

ben22 said...

last post until someone else shows up.....yeah, my heart aches for these sad sad folks that ripped all the "equity" out of their homes and it somehow just went pooooooof and now they are magically underwater.


somebody call the waaaambulance for them

ben22 said...

"smart money" gets more bearish while homegamers load up long:

https://spreadsheets.google.com/ccc?key=rQFT1bog0Gq2w4RfDrdquDw&hl=en_GB#gid=0

crude short doesn't seem like a bad idea but as I've mentioned, I don't trade the oil well so assume that statement is worthless

Andy T said...

@Karen 9.05.

Yeah, I have to tell you that I get conflicted about these kinds of cases. A part of me says: "Hey if you want to be stupid and take on a bunch of debt and some bank wants to be equally stupid by giving you a loan, then have at it."

What two consenting adults want to do in private is their own business. Live and let live.

However, we live in "victim" culture where there is ALWAYS someone to blame for our problems. I've come to the conclusion that the American people can't stomach failure any more. We can't just let people bomb out.

So, it's a conundrum for Libertarian types...you want to let people do what they want to do with their own cash and let banks make dumb loans if they want to, but the American public can't stand the outcome--so we interfere with the "unwind."

Although it's against my free market leanings, it seems that states like Texas had it correct in not allowing equity withdrawals at all. The Earl family couldn't do that in Texas. Essentially, we have a law on the book here that prevents you from being stupid with your home equity.

A 1,000,000 refinance on a house they bought for $500K... fascinating.

karen said...

confession: I have never bot an iphone app.

karen said...

Andy, I did not know that about TX.. it's a country unto itself after all !

Andy T said...

@Karen.

In 2004, after the GWB election, I investigated leaving the country. I sort of had my sights set on New Zealand upon some research.

Probably not a popular comment here, but I thought GWB was one of our worst Presidents ever and was extremely depressed on the state of the country and the direction we were headed.

ben22 said...

who would disagree with the absolute disaster that was GWB,....who could?

anyway, part of the reason I opened the gold money was in case I needed to leave the country. Did I mentioned I opened one ;-)....hehe

call me ahab said...

. . .but Karen- it matters not if you even turn it on- just that you are seen with it-

it's that cool (sadly- that big wide moat is about to get crossed en masse)

call me ahab said...

2004 election-

sadly- the other (electable) choice was John Kerry (aka Herman Munster)

where was the compelling candidate to vote for? Must have missed it.

karen said...

I SWORE I would leave the country if GWB was re-elected.. I there was a God, I'd be dead.. Actually, I have now moved on to Palin.. she is the last straw for me. If she is even nominated, i am leaving.

McFearless said...

ahab, I turned 18 in 1998, consider my voting options for president since I've been eligible to vote.

call me ahab said...

b22-

I guess my point is- to get people interested- they have to be energized to vote for the non-incumbent- which requires a compelling candidate-

John Kerry wasn't compelling- and not only that- I am confident the outcomes would have been the same- war and economy- whether Kerry was elected or not

Andy T said...

@Ahab. Yeah, I thot that was one of the Democrats' big failures was not producing someone to challenge GWB in 2004. That was a gift for the GOP....hand them Kerry.

I think things would have turned out somewhat different. The economy would still have been punk, but the war, and the spending on the war, would have been different.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Karen on Palin: Agree. She was the "gift" the other way for the Democrats in 2008. Maybe there was some sort of secret "quid pro quo" there....

DL said...

Karen @ 10:11

Your views on economic policy (i.e., what it ought to be) remain shrouded in mystery.

I think I more or less understand where CV, Andy, and Leftback are coming from.

But you've managed to keep your "cards close to the vest" (although I would assume that you want to eliminate "tax cuts for the rich").

call me ahab said...

AT-

I would venture to say that McCain was the issue vs Palin- since he was at top of the ticket-

did anyone catch Walen (and Ritholtz) on Kudlow?

I caught the clip at Denninger's- Walen is pretty forceful in his argument that the banks will be nationalized-

for those who missed it-

http://market-ticker.org/akcs-www?post=169580

start at the 3:30 mark

I-Man-

thanks dude- Armstrong- great read- dude knows a thing or two

karen said...

i am so into these! i recommend substituting minced garlic for salt, however, and definitely add red chile peppers.

http://www.elanaspantry.com/

currently in my oven: butternut squash cubes with tons of coarsely chopped garlic, olive oil, dried red chile pepper, and a pre-made pesto mixed in..

karen said...

DL, eliminate tax cuts.. are you crazy!! i don't believe in taxation! Tax consumption.. Bill me for my state services.. Less is more.. I'm a true Republican in that I believe in State governance over Federal..

DL said...

Andy T @ 10:27

I really don't know who McCain could have paired up with in 2008 that would have gotten him elected. That year (2008) was a lost cause for any and all Republicans.

However, McCain's selection of Palin has had a lasting impact on the political landscape (for better or worse), as we've seen.

Anonymous said...

Ben:

Have you ever heard of Perth Mint certificates? I don't know much about them, but those electronic gold transaction processors make me nervous because the U.S. government is good at freezing the accounts/shutting down the servicers on the grounds that they are money launderers. The foreign domiciled ones are even at risk because of Washington's ability to apply pressure on foreign governments.

DL said...

Karen @ 10:43

"State governance over Federal"

. . . . . .

Music to my ears.

9th and 10th amendments.

I don't care if some state governments want to get big and bloated. If I don't like the state, I'll move to another one.

A bit more difficult to get away from Uncle Sam.

karen said...

Anon, I have, and I have heard NOTHING good about them.. the worst that can happen with James Turk's gold money is taxation, imo.. in the meantime, by coins, and watches : )

Andy T said...

@Ahab. Indeed, McCain was not a great force in 2008...GOP have a way of trotting out guys who are a bit late in their careers (i.e. Dole and McCain)

I actually liked McCain enough in 2000 to vote for him in the California primaries...against GWB. It was a 'wasted' vote by that point in time....but I liked McCain enough in 2000 to get my lazy ass to a polling booth.

In 2008, he was "off his game" no doubt. When he announced his running mate, it was pretty clear that it was over. It was a strategic blunder.

call me ahab said...

Dole-

how could I forget? (or how couldn't I forget?)

It was Dole's turn, it was McCain's turn- protocol and all that nonsense

McFearless said...

anon,

sure, you want to have some of your stuff domestic as well, like a few bags of silver a la CV, no doubt the governments tentacles will stretch far if it comes to it though I do not believe hey have the ability to shut down gold money accounts with physical gold stored in zurich, london or hong kong based own the Turk has it set up and insured.

I've heard of it but I'm not familiar with Perth Mint.

McFearless said...

DL/Karen above, state over federal

X2

call me ahab said...

and here's my thought for the night-

the Welfare state-

keeps people from rioting in the street- keeping the populace at bay- so the government is kept in tact (regardless of party)-

it's like a giant pacifier-

control and conquer-

(all bought by the scraps from Longshank's table)

Anonymous said...

b22/McF-
thanx for your 920/928 responses.

AmenRa said...

Apple ruined the overnight pump session.

McFearless said...

I had not even noticed this yesterday, did any of you catch it?

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aPyUT.S_73X0

"A system upgrade at Arca triggered what appeared to be a 9.6 percent plunge yesterday in an exchange-traded fund that tracks the Standard & Poor’s 500 Index, a drop that would have erased $7.9 billion from one of the most popular securities in the U.S. Data published by the electronic venue at 4:15 p.m. New York time showed the SPDR S&P 500 ETF Trust at $106.46, compared with its opening level of $117.74."

CV said...

new thread

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