AmenRa's Corner

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



Creditcane™: When I appear I cause damage to all markets.



SPX
Bearish long day. Midpoint below EMA(10). Well below SMA(21). No daily 3LB changes (reversal is 1225.85). Still below weekly 3LB midpoint. Almost tested weekly 3LB reversal (ruh roh). QE2infinity.



DXY
Bullish long day. Midpoint above EMA(10). Tested and passed the 23.6% retrace at 78.72 and well above SMA(55). New high on daily 3LB (reversal is 78.22).



VIX
Shooting star day (at the SMA(55)). Midpoint above EMA(10). Below weekly 3LB mid and monthly 3LB mid. No daily 3LB changes (reversal is 22.58). Snuck out of the "no fear" zone.



GOLD
Bullish short day. Still above SMA(21). Midpoint above EMA(10). New 0% retrace has been holding. No daily 3LB (reversal is 1403.20).



EURUSD
Bearish long day. Midpoint below EMA(10). Closed below its 50.0% retrace at 1.3514. Back below SMA(55). New low on daily 3LB (reversal is 1.3649).



JNK
Bearish LONG day. Now below SMA(55) & SMA(89). Midpoint below EMA(10). Still failing the Gann 4x1. New low on daily 3LB (reversal is 40.30). Closed further below its weekly 3LB reversal price.



10YR YIELD
Spinning top day. Gap shut. The 0.0% fibo retrace at 23.59 is holding. Still above SMA(89). Held its 23.6% retrace (27.49). Midpoint below EMA(10). No daily 3LB changes (reversal is 24.84).



CRB
Bullish long day (Failed to confirm hammer but held weekly 3LB reversal). Midpoint below EMA(10). Still below SMA(21). Held the Gann 2x1. No daily 3LB changes (reversal is 315.25).



XLF
Bearish short day. Midpoint below EMA(10). Closed below the SMA(89). Actually below all SMA's now. No daily 3LB changes (reversal is 14.23).



HYG
Bearish long day. Midpoint below EMA(10). Closed below 61.8% retrace. New low on daily 3LB (reversal is 89.82).




LEFTBACK'S BOND REPORT

The Bond Report 11.23.10

A pre-holiday risk-off day in the bond market? Profit taking by HFs sated on QE2 gains? Liquidation by the same HFs who were long EEM and were beaten with a massive stick today? KJ selling high yield bonds from the North Korean SWF? Or was it Big Stevie or his many progeny dumping some junk to raise cash for an escape from Stamford in black helicopters? We shall find out soon enough.

Treasuries really didn't rally much AT ALL, given the impending collapse of Ireland, Portugal and the entire Western hemisphere and KJ posturing atop nuclear warheads aimed at the very Seoul of South Korea. So we are inclined to think this was a bit of risk dumping ahead of the holiday by those bargain hunters who were shopping last time HY was being discarded. We think they will be back when they see the results of the next lousy Treasury auction... if not sooner.

Corpies: LQD 0.05%; AGG 0.10%; JNK -1.39; HYG -1.37;
Govies: TLT 0.50%; IEI 0.14%; TIP 0.04%
Hedgies: TBT -0.92%

We are fading this spread widening trade. We added to our HYG position and we added to our short of the long bond today.


When keeping it real goes wrong...

15 comments:

Andy T said...

CV,

Thanks for the "Back to School" clip earlier...this was one of the best scenes

He's not for everyone, but I'm a Kinison fan.

AmenRa said...

Priceless: http://www.zerohedge.com/article/guest-post-please-santa-let-be-last-christmas-america-thats-supposed-save-us-economy

CV said...

@Andy (5:52)

Oh... Thanks for mentioning SK...

CV's favorite clip (over & above that one) was this Sam Kinison classic...

htp://www.youtube.com/watch?v=Xfi4s8cjLFI

It's pretty much the "spirit" in which "I" (and I caution to say "I"... not you & Amen [who are equal partners]... run this blog every day)...

*Potential... Andy & Amen "dissention" on this frame of mind must be footnoted here... :-)

But here's CV's vote... (also - I love these SK revelries):



- http://www.youtube.com/watch?v=JuA0Xm2cy1s

OR

- http://www.youtube.com/watch?v=876pmxUFYmY



They're JUST regular jokes people... :-) (1:22)

Anonymous said...

CV,

might have lost previous post, though..

that Kinison clip, from BTS, is a f****** Classic ~!

also, the one of Dangerfield in the Econ. Class is great..

past that, CV, did you get paid on that 'Bolts pick?

over here, the guy (I thought I laid it off on) was, today, giving me some rap about ~"He's 'short', need 'Cache' for 'Car Repairs'"
'been an off-week'...

wtf is up w/ that?

AAIP

CV said...

@Andy

I just realized that your video clip & mine were the same...

Ha!

In any case... JUST COMEDY PEOPLE!... If you can't LAUGH about the absurdity of human existence...

then what... pray tell... CAN you do?

CV said...

@AAIP (6:22)

ooh... I've got a story on that too...

First... YES I got paid on the Bolts (small play as it was)...

But MY GUY has been carping as well...

Really - it shouldn't BE that way... Because the VEGAS aggregates tell a different story to the east coast underworld...

...but listen to this (& when you "reflect", you'll see it's true)...

Some of the EAST COAST results this year have been hard on books... MY GUY is complaining all the time... I swear, I had to have a personal conversation with my guy this past week suggesting he put a "circle" on the CAROLINA-RAVENS game...

There's too much "skew" this year... because locally, the Jets, Pats, Giants, Eagles, (& even Redskins) keep coming thru...

just sayin'...

CV said...

@AAIP

You know what a "circle" is...

It's a "bucky limit" on ANY game...

NO DIMES welcome... In parlance...

ben22 said...

sorry if someone already posted this, it's worth paying attention to though:

http://www.zerohedge.com/article/realtytrac-opines-coming-wave-gse-foreclosure-buybacks-final-liability-will-be-enormous

Anonymous said...

CV,

had no idea re: "circle"

interesting to hear about that 'East Coast' phenomena..

I guess that makes sense..

btw, is there a worse Team than the 'lina Pussycats?

AAIP

O, btw, this guy, here, was giving me the 'ol "I give you two free plays"-rap, too..

what a d*****, I told him to save it, and that I'll charge him 5 points/week..or, I'll just tell 'the bois', where he usually hangs, about 'payment capacities'..

how do handle something like that?

Andy T said...

AAIP--

Sounds like you had some "counterparty risk" there....

AmenRa said...

Sopranos, Boardwalk Empire, The Godfather 1-3 all detail how to deal with a person who can't pay...j/k

Anonymous said...

AT,

that's, exactly, it.

same phrase was going through my mind, as well..

~~

AR,

I hear ya, but those are the 'simple' solutions..

AAIP

CV said...

@AAIP

Sounds kind of "comical" in the end... (and EXPECTED), for that matter...

Go ahead and "get in over your head... HERCULES" (cv likes to say)...

I swear... Not just this past week (but LITERALLY - for the past month or so)... CV has been having to ACT as "personal shrink" to the EAST COAST SHARP on the collecting end of the vig...

I said... DUDE... you're gonna get killed by this skew (and there are too many of them going against you at the moment)... I said you don't have the total tally to make things even... (like Vegas does)... Nobody around here gives a FF on what Fresno St. does vs. Boise...

CUT YOUR LOSSES... Lay it off to a bigger whale...

EGOS bitchez! (= LOSSES)

AmenRa said...

Quiet tonight. Possible turkey squeeze? EURUSD, EURJPY, AUDJPY, Oil, Silver are up. JPY, DXY, UST's are down. Futures higher also. Arrgh. A shot of Grand Marnier and off to bed.

CV said...

new thread

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