AmenRa's Corner

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



Creditcane™: I came. I saw. I got my azz handed to me by my bizarro image…Canecredit.



SPX
Bullish LONG day (another hanging man gets reprieve). Midpoint above EMA(10). Above all SMA's. Tested and blew through remaining fibos that lead to previous 2010 high. New high on daily 3LB (reversal is 1185.64). The monthly 3LB reversal has been placed on IR. QE2infinity.



DXY
Bearish long day (morning star implodes again). Midpoint below EMA(10). Tested and failed the 85.4% retrace at 76.29. May decide to test the 2009 low of 74.17. New low on daily 3LB (reversal is 78.18).



VIX
Bullish short day (morning star?). Midpoint below EMA(10). Back below all SMA's. Below weekly 3LB mid and monthly 3LB mid. Daily 3LB reversal down (reversal is 21.83). Getting comfortable in the "no fear" zone.



GOLD
Bullish LONG day. Back above all SMA's. Midpoint above EMA(10). Made a new 0% retrace. New high on daily 3LB (reversal is 1325.10).



EURUSD
Bullish short day. Midpoint above EMA(10). Held its 61.8% retrace at 1.3899. Well above SMA(21). New high on daily 3LB (reversal is 1.3732).



JNK
Bullish long day. Above all SMA's. Midpoint above EMA(10). Trading range is still between the Gann 3x1 and 4x1. Daily 3LB reversal up (reversal is 40.42).



10YR YIELD
Bullish long day. The 0.0% fibo retrace at 23.59 is the line in the sand. Back below the weekly 3LB mid (25.35) and below SMA(21). Midpoint below EMA(10). Failed the 14.6% retrace at 26.00. Daily 3LB reversal down (reversal is 27.12).



DJ TRANS AVG
Bullish long day. The upper trend line is far enough away to be historical. Above all SMA's. Midpoint above EMA(10). New high on daily 3LB (reversal is 4737.19).



CRB
Bullish long day. Midpoint above EMA(10). Above all SMA's. Still failing the Gann 1x1. New high on daily 3LB (reversal is 301.53).




XLF
Bullish LONG day. Midpoint above EMA(10). Back above all SMA's. Daily 3LB reversal up (reversal is 14.23). Resolved triangle/wedge higher. Sugarhoneyicetea. Repeat.



LEFTBACK'S BOND REPORT

The Post-Qoital Afterglow Bond Report 11.4.10

In the aftermath of Ben Bernanke's latest attempt at encouraging an increase in FELLATION, fixed income assets remained tumescent across the board, with all durations and all classes being happily snapped up by eager inwestors. A steady firming in govies was accompanied by a spurt upwards in lower-rated debt. Yes. It was good for me, too.

Corpies: LQD 0.95%; AGG 0.48%; JNK 1.03%; HYG 1.30%;
Govies: TLT 0.78%; IEI 0.32%; TIP 0.24%
Hedgies: TBT -1.41%

One can only smile and shake one's head at the antics of Helicopter Boy and his merry band. Sooner or later we are going to see some stronger economic data and these bond purchases may begin to look imprudent. We will follow the POMO and auction trail and do some timely shorting as opportunities present themselves.


IT LIVES!!! FEASTS ON 401K'S AND SAVERS!!! NO ONE IS SAFE!!!!

63 comments:

Leftback said...

Yes, AT, I know Liverpool are losing to Napoli....

Leftback said...

Gerrard scores. Who else?

Leftback said...

and another from the spot....

Leftback said...

...and one more for his hat-trick. Enough said.

McFearless said...

the best thing today was the claim made on dan's board that dan actually works on wall street, his blog, like all blogs, are a hoax, and that they are put in place on specific dates in order to sucker retail investors into staying short the market.

classic.

you guys all know that Ra, CV and Andy are doing the same thing right?

call me ahab said...

LB-

pretty cool avatar- whoever it is?

best/funniest thing I read today- from CNBC:

“The Fed is left to find ways to generate real growth that supports the asset gains.”

of course! The plan- get stocks to ratchet up- then wait for the growth to justify the values-

talk about forward looking

McFearless said...

"pretty cool avatar- whoever it is?"

are you serious!

Dude, that is Aragorn Strider!

but something tells me his character in Eastern Promises might be more your style.

call me ahab said...

. . .and then Bruce (here) and DH from TBP-

jumping in the market-

goddamit- can it really be that easy- print money-- make money?

personally- if things go as bad as I think they will- I hope we'll see Bernanke walking around in leg irons before it's all over

call me ahab said...

b22-

oh Aragorn!

Who's that?

AmenRa said...

Ben

3LB. The fact that the SPX couldn't break through the monthly reversal last week (after multiple tries) increased the chances of a reversal. Then QE2 happened. But the month still has time left so the current reversal may not hold. Bastids.

call me ahab said...

taking all the logic that I can muster at the moment-

a bad jobs number tomorrow is good news for trading- confirming that the Fed cannot retract itself from the market-

and we may now be seeing the beginning of off and on again QE-

for years

McFearless said...

funny ahab,......lord of the rings, though I might remember you saying you weren't very into that.

Ra,

yeah we'll see, I thought this month my options plays would end up being primarily on the short side but of course now I'm not so sure. I still haven't put anything on yet. there is a lot of month left, remember last thanksgiving was the whole dubai issue, which never really went away, as if that matters with the Wizard waving his wand, they (Dubai) are probably recovering though considering they were installing those ATM machines that dispensed gold.

http://www.youtube.com/watch?v=sr0gNJ090JA

on that video, it's right at :18, which reminded me...what hapened to 18?

McFearless said...

ahab,

I think right now it would seem the mood is that ALL news is good news, doesn't matter what the news is, it's quickly rationalized.

TCE wrapped in a GIB

call me ahab said...

Lord of the Rings-

of course- the walking trees

although- I will have you know- I use to read the Hobbit to my kids when they were just little whipper snappers-

very good story

call me ahab said...

b22-

well- if I was just to look at it very simply-

then commodities are a no brainer-

as the $ has no bid

call me ahab said...

. . .but as I said- looking at it simply

McFearless said...

ahab,

you know what I do know for certain.....I'll be seeing you on the dance floor on Sunday, and you are going down.

Jennifer said...

My daughter just finished the Hobbit and loved it. Tried to get her into the trilogy...she didn't like it. Figured out later she never made it past the foreward. Whoops. I <3 Aragorn.

call me ahab said...

b22-

sorry dude-

no clue what that reference is-

my guess is "dancing with the stars" but I have never seen it and have no idea when it's on--

although- I have been watching me some "Kenny Fucking Powers"-

"dude- I am going to have to fuck you up with some truth right now . . ."

lol

Jennifer said...

Interesting seasonality coming up. Nov 22 seems to be a strong up day every year. That whole pre-turkey day week is strong historically. After that...not so much. I can remember racing home from early black Friday shopping in '08 when I realized that we'd had 4 up days in a row but the market was only open for half a day -- had to get short before the weekend.

McFearless said...

fantasy football.....

Jennifer said...

Love the avatar Ben. My anticipated career path was much more vertical...must be why I drink so much.

call me ahab said...

jennifer-

Hobbits a great story- I use to do an incredible Gollum . . .

eerily similar to the Gollum in the movie- but long before it came out

Jennifer said...

Off to the homeowners assn meeting... should be good for a laugh...or a drink.

CV said...

@ahab

Don't listen to McF...

LB's icon isn't Aragon... It's Brian the Broker...

call me ahab said...

. . .oh-

well- as you know- I have had only one win-

with some pretty decent players-

some busts with Shaub and Mathews- who basically I put my whole team around-

but Houston all of a sudden has a runnig game w/ Foster and Mathews got injured early-

so...it's been brutal- Moss- another tragedy

AmenRa said...

You think there are enough Fed speakers tomorrow? I do want to hear what Hoenig has to say at the NAR conference. Talk about opposing viewpoints.

CV said...

I was just thinking of something...

Remember this summer when TONY ROBBINS put out a You Tube and was basically "warning" people to stay away from stocks?

I guess he's lost his persuasiveness and BEN BERNANKRUPT is the new sheriff in town...

ror

call me ahab said...

CV-

seriously-

I couldn't pull who that avatar was ever (whoever it is)- I just thought it was an interesting shot- a bit off center- kind of artsy

CV said...

@Amen

Frankly... I'd like to see all of them (save for Hoenig)... at an NRA conference...

As target practice...

CV said...

@ahab

besides Aragon... He's the same dude who starred in "The Road"...

So he has something in common with your Mad Max...

CV said...

CV is fascinated with this dude right here...

Take time and watch all the whole series...

1) http://www.youtube.com/watch?v=ozJvg0hOwb4&feature=related

2) http://www.youtube.com/watch?v=UwiBHpm4l-8&feature=related

3) http://www.youtube.com/watch?v=HN_DgX4i9jk&feature=related

4) http://www.youtube.com/watch?v=q5NVYiUc5T0&feature=related

5) http://www.youtube.com/watch?v=Eo2Fh4qmfA0&feature=related

6) http://www.youtube.com/watch?v=k6Rfxv0a81o&feature=related

call me ahab said...

I saw the Lord of the Rings-

and I guess I remember the "Rider"-

the first movie was pretty good- but as it progressed into the other installments- I lost interest-

the walking trees did me in- and I don't even remember which movie that is- the 2nd or 3rd

mcHAPPY said...

http://ca.news.yahoo.com/s/capress/101104/national/lotto_millions_gone

Nice little feel good story:

"We never had that money, we never went without anything but we wasn't born with silver spoons in our mouths, so we knew we had to work for what we got," she said.

"We have each other — that's the main thing. We don't live in a modern house or have new cars, no fandangle things. You're born with nothing, you're going to die the same way."

call me ahab said...

CV-

watched the first installment-

beautiful country- and I love fly fishing-

brutally hard in the wooded Shenandoah mountains- fishing for the brookies

prosciutto said...

No one else watched the KD video of the bloke shooting himself in the head? C'mon, guys. Where's your sense of panache?

Cold steel!

http://market-ticker.org/akcs-www?post=171216

call me ahab said...

mchappy-

saw that in the news earlier today-

pretty damn cool

Matthew said...

The most amusing thing I saw on CNBC this morning was Tony Crescenzi on this morning with:

1. Trish (The Dish) Regan
2. Larry Kudlow
3. Melissa (I sucked Art Laffer's Cock) Francis

Anyhow, Mr. Crescenzi, a fixed income manager, attempted several times to comment on the condition of various sector/quality trends and project implications of various macro themes on fixed income classes. Each time, he was able to get about twenty words out before Trish interrupted him and shouted, "WHAT DOES THAT MEAN FOR STOCKS?!?!?!?!?!?"

I wanted to choke her. It is the mark of a complete amateur to ignore credit markets.

Matthew said...

Sorry, replace "on this morning" with "on The Call"

Bruce in Tennessee said...

Watched the most amazing thing tonight.

Travel channel..First ascent. Guy free climbed half dome in Yosemite. All you have is your shoes, your chalk bag, and you. 2000 feet straight up. Vertical!

It is hard enough to climb when you are being belayed....Free climbing half dome...otherworldly....

karen said...

Ahab.. I put LB up to being Viggo.. told him it might make me more interested in him.. LOL..

CANNOT believe you didn't recognize him!! That's like not recognizing Clark Gable, Paul Newman, Robert Redford.. you kill me, Ahab : )

Don't even mention Eastern Promises.. i get goose bumps and shivers..

karen said...

i hate blogspot.. i thot i posted my comment 45 min ago.. it was holding it in limbo..

karen said...

Matthew.. i can understand your frustration!! I really appreciate/respect any Crescenzi insights..

so I am quite fascinated right now that the Fed is targeting equities when bonds and currencies are the bigger deals! and quite literally BEYOND their control.. so let's see what madness unfolds..

karen said...

Here you go! this is all you need to know.. Why it is right to trade this fed led rally..

http://www.cnbc.com/id/40007714

Andy T said...

Couple of thoughts on the thoughts here:

1) Lord of the Rings Trilogy was the best set of three movies I've ever seen...possibly better than the original Star Wars. Yes, they were THAT Good.

2) Melissa Francis does indeed have a huge mouth--which is useful for....

eating things.

3) I've lost money the last several weeks...but "I put my hands in the air like I just don't care"....I'm going all in bitchez'...and I love it.

4) Kudos to "Nic" and the "Curmudgeon" fellow at TBP in this comment section: http://www.ritholtz.com/blog/2010/11/usa-dysfunctional-polarization/#comments

5) And last, but not least, Something is Not Right with Me

karen said...

Andy, THAT IS MY SONG!! LOL.. I literally said that a number of times this afternoon to a "friend." Okay, now I'll try to find those comments at TBP..

karen said...

Andy, PS.. agree with your #1. Altho, i loved the first 2(?) Matrix movies.. and don't forget my infatuation with Jason Bourne.. or even the original 2 Terminator movies..

But seriously, I was never able to read the Tolkien series until AFTER the movies.. We were an addict family.. and the new one would come out around one of my sons birthdays.. birthday/movie night was our MO.. along with dinner after so we could TALK about it : )

karen said...

does this mean we are all ponzi now?

Bank of Japan to buy stock-index ETFs, some REITs; leaves policy rate unchanged 11/04/2010 10:49:28 PM

call me ahab said...

karen-

oh Viggo!

who's that?

call me ahab said...

. . .and I am supposed to pull from that avatar some dude that played in Lord in the Rings that I couldn't point out in a line up?

karen said...

Ahab, i will leave you to your Palin/O'Donnell crushes..

karen said...

Watch Eastern Promises!! Right up your alley.. Lots of tatts..

call me ahab said...

here's my new favorite- Kristi Noem from South Dakota-

http://www.kdlt.com/images/news_images/large/content_id_3153.jpg

Eastern Promises? Never heard of it.

karen said...

Born Viggo Peter Mortensen, Jr.
October 20, 1958 (age 52)
New York City, New York, U.S.
Occupation Actor, poet, musician, photographer and painter

call me ahab said...

oh! that Viggo!

the poet-

lol-

Andy T said...

@Karen.

The very first Matrix movie blew me away like no other movie. For sure.

The overall trilogy was really good, but the nod must be given to LOTR (over Matrix).

I thot it was so good that I actually forced my wife and mother (Mother knows JR Tolkien quite well) to watch it...after the first 30 minutes they were both "hooked." We finished the entire trilogy in one very late night with all of us crying with the return of the King.

I'm envious of very few people...but I'm definitely jealous of Peter Jackson. Whatever happens in his life, he can always say: "Yeah, but I did make those three movies. What did you do?"

For me the only other thing that was equally awesome (maybe a little more so) was the original Star Wars.

Just sayin'.

Andy T said...

My wife loves, loves, loves the Viggo.

G.I. Jane is one her faves most because of Viggo. Admittedly, I thought it was a really good film, despite the presence of Demi Moore.

karen said...

Mmm, your wife has the best taste!! But I am crazy now for that Cold War Kids song you posted : )

And, I'm with you on your movie critique, 100%.

karen said...

And, Ahab, obviously, needs to watch few more movies and a few less female politicians!!

karen said...

(PS> never saw G.I Jane.. I get pts for that : )

call me ahab said...

Karen-

I saw LOTR- as I said- the first one was pretty good-

but that stupid hobbit that kept crying all the time- the side kick- I was like- why is this dude crying all the time-

I wanted to punch him in the face- and when they had the walking trees-

I had to laugh . . .guess I'm not into fatasies (unless it's of a bow hunting, gun toting rancher woman turned politician living in South Dakota)

18 said...

on that video, it's right at :18, which reminded me...what hapened to 18?

He's around, just taking some time off after a couple of kidney stone days surgeries. Waiting for SPX 1242, that's if it breaks 1224 (not much resistance up around here), but it's run up too fast so maybe a pullback is in for the near future. Just a gut feeling though, not anything I see in the technicals.

CV said...

new thread

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