Morning Audibles


This week was supposed to be relatively quiet... Yesterday's trading proved that logic to be false, and just threw another log on to a capricious and enigmatic year... "It is a riddle, wrapped in a mystery, inside an enigma"... So how appropriate that tomorrow we celebrate Thanksgiving where we can feast on TURDUCKEN (a chicken, stuffed inside a duck, stuffed inside a turkey)...


Where you cook it in your oven, which is stuffed inside your kitchen, which is stuffed inside your home...

BOOM!... Anyway, since today still counts as a "work day" (I suppose), I'll try to sum things up for you in a simple way (like Madden himself)...


What Was The Reason For Yesterday's Market Sell Off?

Translation: Funny, But they missed the most obvious... THE ECONOMY!

Hmm... Maybe it had something to do with this...

Obama Sends Aircraft Carrier to South Korea After North's Attack

EXCERPT:
"President Barack Obama talked with South Korean counterpart Lee Myung Bak for 30 minutes by phone and dispatched the USS George Washington from Japan today..."

Translation: I hope Obama isn't sending the fleet there to surrender!

Speaking about "surrendering"...

Drink Like the French, Avoid Binges to Spare Heart, Study Says

EXCERPT:
"The French habit of drinking wine almost daily is less taxing to the heart"

Translation: Obama will find a way to tax it.

Bears are going to need drink when they read these next two...

German Business Confidence Unexpectedly Surges to Record High

Consumer, Business Spending in U.S. Probably Rose in October

EXCERPT:
"More jobs and bigger paychecks may give consumers the confidence to boost purchases during the holiday season, benefitting retailers like Wal-Mart Stores Inc."

Translation: Somebody go over to 2&20 Ritzy's blog and ask him if he's heading out to Wal Mart this weekend... We'll get to Ritzy later after we delve into why all the upbeat forecasts...

Bernanke Employment Goal Elusive With Profits Bringing No Jobs

EXCERPT:
"Not far from where Federal Reserve Chairman Ben S. Bernanke grew up, a revolution inside a Campbell Soup Co. plant explains why U.S. corporations are piling up profits -- with little need to hire more people."

Translation: So that's it... PROFITS! (over jobs)... That's music to this guy's ears...

---

by HarryWanger
on Mon, 11/22/2010 - 14:47
#747273

"I maintain that we will see highs of the year on SPX by Friday close. Huge turnaround today blew any bears out of the water."

---

It downright makes 2&20 Ritzy (and his band of yes men) want to go out and buy a new suit! (I heard they weren't going to Wal-Mart though)...



You might make some young girl mighty happy in one of those things...


Or maybe... (because in these mysterious times - you never know what you're gonna get)...

 
Happy Thanksgiving folks! :-)



113 comments:

call me ahab said...

You blind Republicans allowed Wall Street to Rape us, by deregulating Fraud, on Wall Street: Flash Crashes, Naked Shorts, Front running, and a Gutted SEC. Plus, you allowed the Healthcare/ Insurance industry to innovate: Pre-existing conditions, and a 3% yearly rate of Rescission[ simply canceling the policies of the sickest patients with coverage ]. And still today California is the only state to bring charges against Insurance Rescission Fraud. . .

. . .Now you have the gall to blame Obama for your 8 years of incompetence?

And let me tell you, if Obama were a Nazi: Limbaugh, Murdoch, Koch and Beck would all be dead. . . .Yet, they still live. . .

. . .I’m getting tired of this Hypocrisy.

You all are harping about those pat-downs, the prosthetic leg searches, the breast implants, et . . .But you all will be the first and the loudest if a terrorist uses these very same techniques to blow up a plane . . .I’m tired of the Republican-Never-Ending-Bitch-Party.
- signed "JimRino" (from TBP fame)

Laugh the fuck out loud!

ben22 said...

ahab,

thanks for that, hadn't seen that version of "blame Bush" until today, he even got credit for the flash crash in that one, what influence!

CV,

you are always good for a laugh man, the retail sales are rising article did the trick today.

call me ahab said...

mystery date-

that's pretty funny- I think I remember that commercial (first version)

b22-

the "if Obama were a Nazi . . ." line had me in stitches-(it's like a parody- but because it's not it makes it even more funny)

CV said...

@ben22

It's not me dude...

The internet, and would be pundits serve up Thanksgiving Turkeys every day of the year...

I just sit at the table, have my fill, and feed the table scraps to the dogs... :-)

CV said...

@ahab

...and to think that cv got "banned" from TBP for facually stating that...

1 gram of protein = 4 calories
1 gram of carbs = 4 calories
1 gram of fat = 9 calories

I'm going to have to work on that rhetoric before I hit the SEND button...

CV said...

I'm also going to have to work on typing a "t" in factually before hitting the send button...

Living in my car... but I also download songs from iTunes daily said...

not bad for the 1st week

call me ahab said...

b22-

I'll tell you what's good for a laugh-

the comment section at TBP

CV-

BR sent me an email saying everyone hates my guts over there and want me banned-

yet- Ahab lives as my comments still post-

good thing I stayed off the carb and protein topics

call me ahab said...

b22-

. . .and now- JimRino is my latest "go to" for a good laugh-

nothing like free entertainment

ben22 said...

ahab,

no doubt, I read a lot over there the last three days, had not for some time before that, quite a change.

CV said...

@ahab

Everybody here wants CV banned too... I'm on thin ice...

I live in constant fear of the moment that they pull the plug on me...

CV said...

@ahab

With that 6.5mm pricetag Ritzy put on his blog, maybe he's courting Rachel, Keith, or the DNC to buy his customers...

ben22 said...

"BR sent me an email saying everyone hates my guts over there and want me banned-"

perhaps he should take a poll in order to determine the best plan of action with you ahab.

call me ahab said...

ahab said...

everyone hates my guts over there and want me banned

and here I was- trying to make friends

CV said...

In the "turducken" spirit...

That's a liberal... wrapped up in a libertarian... wrapped up in a librarian...

and eaten with a side of Grey Poupon...

call me ahab said...

CV/b22-

I will say this about TBP- there does appear to more folks willing to speak out over there (not all cheer leaders)- almost turning into "Crossfire" w/ Pat Buchanan and whoever that other guy was

AmenRa said...

Just realized the dollar tagged 80 in the overnight.

ben22 said...

alright team, I'm out the door for the road trip to turkey land

hope all of you have a great thanksgiving and get some time to relax. I'll check in if I can get the www up there, otherwise see you all next week.

Mr Bean Counter said...

Your blog, ritholtz.com/blog/, is worth $427,356.78

How Much Is Your Blog Worth?

Your blog, traders-anonymous.blogspot.com/, is worth $564.54

CV said...

can I have that in nickles please?

call me ahab said...

Everybody here wants CV banned too... I'm on thin ice...

it's your blog- so you are the "master of your own universe"

(and really- think about it- all the rest of us have to do is our drive by's)

CV said...

have a safe trip ben!

call me ahab said...

here is the next big initiative from the TSA-

http://4.bp.blogspot.com/_wkgIzuqJM0w/TOp_-sw381I/AAAAAAAAHTI/fHsnUAce9jc/s1600/SPEX.jpg

cost effective too

call me ahab said...

b22- have a great time with the family

AmenRa said...

Ben

Have a great time!

AmenRa said...

SPX trying to retake its weekly pivot before the holiday.

karen said...

good morning! see you all have been spouting off without me.. CV.. still have to get to your post.. not enjoying this yo-yo market.. it is stupid : )

HYG is still under 89. $gaso went down just before the Thanksgiving driving frenzy.. i like that..

CV said...

The "trading tools" areout today...

Retail is UP

AmenRa said...

CV

"See that! I just got a buy signal as the 20 crossed the 50 to the upside!"

call me ahab said...

so how many of you have your tent set up outside of Walmart or Bestbuy?

as an aside- a few years ago I was driving by a Bestbuy- must have been around Thanksgiving-

and there was a line wrapped around the building- tents, lawn chairs-

first time I saw such a thing

karen said...

today is absolutely absurd.. it is giving me a headache.

call me ahab said...

Black Friday strategies- CNBC

Block and Tackle. If brick-and-mortar holiday shopping is part of your Black Friday weekend tradition, visit stores a day or two in advance to find out where the items are.

Divide and conquer. Go with a group “so you can attack separate sections of the same store,” which will increase your chances of snatching doorbusters.

wow- sounds like loads of fun- well, maybe not

karen said...

ahab.. how embarrassing!! don't they know you can shop on-line?! in comfort and warmth, with can of PBR in one hand.

CV said...

@ahab

So I guess that means "shopping is warfare"...

Jesus Herman Christ... If this is how an abundant society behaves, I can't wait to see what happens when we fall on hard times...

AmenRa said...

Karen

NOOOOO!!! Not PBR :-)

karen said...

all this fantastic, strong dollar news..

karen said...

optionmonster

October New Home Sales come in at 283K. Consensus expectation was 312Ke versus 307K prior

mcHAPPY said...

Monday and Tuesday will be ugly next week - IMO.

call me ahab said...

CV/Karen/AmenRa-

and the last few weeks- while driving around- I noticed the following-

"Doggie Day Care"(so you own a pet why?)

"Doggie Park" (Are you kidding me?)

"Barbecue's Galore" (what- they don't sell barbecues at Home Depot)

and then- I say "organic" and "vegetarian" pet food being advertised-

wow (am I out of touch or is all mentioned above laughable?)

AmenRa said...

ahab

You mean a dog can't stay home and wait for their owners to return? Does the dog need a psychiatrist? Wait...I've seen a dog psychiatrist office LMAO.

call me ahab said...

and here is why we need to scan passengers people-

http://1.bp.blogspot.com/_wkgIzuqJM0w/TOkAmxzQh6I/AAAAAAAAHQ0/6LTsGIOGyHY/s1600/TSA+MUMBAI.jpg

packed and stacked (as G Gordon Liddy used to say)

AmenRa said...

Hold up. Where did this surge come from all of a sudden?

AmenRa said...

ahab

There is such a thing as "too" much ;-)

karen said...

i'm giving up on attempting to post now..

karen said...

damn thing wouldn't let me post!! i won't repeat the ones you missed about dog parks and dog beaches..

karen said...

let's talk about this insane push here.. amzn at all time highs! gold, no.. amzn is the new gold : )

AmenRa said...

Karen

Maybe traders think more folks will stay home like you suggested. Retail bah humbug.

karen said...

check TBT.. shoulda bot that yesterday.. its my new theme.. : )

call me ahab said...

AmenRa-

please note the 2 bombs shes concealing- thus why she is "too much" on the top side-

gotta roll out- all have a good day

karen said...

darn.. uso was about to go trend down today.. it may still.

AmenRa said...

ahab

I wonder how the bombs get "triggered"?

karen said...

tbt up 2.56% now..

AmenRa said...

Karen

What do you mean "trend down"? It's not like a trend day or "internals" look bad is it?

karen said...

AR, on the 13/34 ema chart.. uso was close to turning down.. i.e., the 13 was gonna undercut the 34..

CV said...

This is just a big ol triangle (on a slow day)...

karen said...

markets open till 4 today??? till 1 on friday, i know..

CV said...

Funny! :-)

http://www.zerohedge.com/article/guest-post-federal-reserves-visa-card-statement

AmenRa said...

Got to get the constituents feeling happy about the holidays so they will SPEND. Markets closing higher is good dinner conversation. Makes them even more giddy for shopping. BWAHAHAHHA

AmenRa said...

CV

US Treasury $600,000,000,000.98

the ninety eight cents part had me LOL

CV said...

new chart in thread

a little busy... but the range should be pretty clear (unless Obama has some Waddell & Reed employees aboard the aircraft carrier heading into the Yellow Sea)...

I might be taking off for the rest of the day here (with this in mind)...

karen said...

zerohedge

Record $4.78 billion outflow from municipal funds

US taxpayers (who are funding 2+ years of mortgage free living for millions) are subsidizing this Thanksgiving shopping season

CV said...

when the going gets tough...

CV said...

I swear, I was buying beer the other day and the person in front of me was buying lottery tickets with a credit card...

Anonymous said...

CV said...
I swear, I was buying beer the other day and the person in front of me was buying lottery tickets with a credit card...

CV, that makes sense. Gamble on winning the big one, if you win then pay off the CC, if not, just go bankrupt.

CV said...

BERNankrupt

CV said...

or... BernanKORRUPT

AmenRa said...

Karen

HYG turning into a bullish harami. As usual it will need confirmation.

karen said...

AR, check the HYG:LQD ratio! could be a trick !! LOL

sorry for my lack of comments.. i'm listing stuff for sale on ebay : )

CV said...

@Amen

the gap up today (spx) was the 2nd gap up in a week of that 1080-1183 zone...

What doesn't the market like about that?

Or more importantly, what is it trying to conceal? (because both 60 minute candles that followed charged right thru 1-1-8-6)

CV said...

@karen

why bother with e-bay?

Got a bunch of crap you want to unload? Just call Bernanke...

karen said...

dto.. looking ripe for a picking again : )

karen said...

look at tbt go!

Anonymous said...

@K
you still short AAPL from yesterday?
maybe next week better

I'll be short this biatch soon :)

karen said...

anon.. i was never short aapl.. i can't short stocks.. no margin account... i only short thru etfs..

AmenRa said...

MUST...GET...TO...1200...OR...ELSE...

karen said...

gunning the market the day before thanksgiving is truly pathetic

AmenRa said...

Karen

But it happens almost all of the time. I've learned to get out on Tuesday and look to reenter on Friday (late) or on Monday. Got squeezed one good time and said I wouldn't let that happen again.

karen said...

Bankers Rigging Municipal Contract Bids Admit to Cover-Up Lies
http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aMfgQCxmDD.M

AmenRa said...

Geezus. Talk about propping up the market:

S&P ISSUES A/D 10.83
S&P VOL A/D 10.91
S&P NET $ VOL +45.71M

NYSE ISSUES A/D 4.52
NYSE VOL A/D 6.74
NYSE NET $ VOL +10.52M

NASDAQ ISSUES A/D 3.42
NASDAW VOL A/D 7.79
NASDAQ NET $ VOL +26.72M

RUSSELL 2K ISSUES A/D 10.18
RUSSELL 2K VOL A/D 5.20

karen said...

Jamie on VIX watch Sonar Report from CBOE here http://youtu.be/pUV9nSFvYd4

karen said...

uup.. 23.07 (don't pass out!)

karen said...

sarah palin in the last 48 hours

http://www.businessinsider.com/sarah-palin-north-korea-comment-2010-11#

karen said...

well, the $xeu:$xjy correlation to the $spx is clearly broken today.

but the FXA correlation is fine, as is the FXC.

GLD not getting much of a lift out of the falling euro either..

karen said...

wow.. volumes are pathetic, too.

karen said...

23.09 on uup now.. i know, i know, i am counting pennies ; )

karen said...

nice rev h&s on 60 min uup chart..

CV said...

Sorry I've been in and out all day...

Not focused on these markets at all today...

CV said...

@karen

UUP up .22%
SLV up .35%

lol

CV said...

jjc up 1.43%...

so if the pennies you're counting are pre-1982...

they're worth 2.4 cents today...

http://coinflation.com/

Are you F'ng With me? said...

@Ahab - I got a late start today and don't know if you are still on, but I read your post about BR saying "Everyone hates you"

1st, I have no reason to believe you would make it up, but I still feel compeled to ask. Are you serious? Did he really send such and email?

2nd, Although I do not frequent TBP to often. I can honestly and clearly state, you are very well liked. You have always given your opinion and view on things and if BR does not like that, that is his problem.

Keep on posting man, what you have said should have been heard and what you will say wants to be heard.

Mangy Mutt

CV said...

This will be the lowest volume day since 12/24 last year... and that was only a half day trading...

karen said...

UUP, the reverse h&s on the daily chart spans 5.5 weeks. much better than that puny 60 min one i was looking at spanning 6 days..

karen said...

"Crude oil rises 3.2% to $83.86 a barrel, its highest settlement in more than a week" who knows why cuz $gaso has been falling for 2 weeks..and the dollar has been rising for 3 weeks..

CV said...

Now metal thieves turn to stealing taps

http://www.expressandstar.com/news/2010/11/23/now-metal-thieves-turn-to-stealing-taps/

See all the economic activity QE2 initiates?

karen said...

it does seem to me that BB has succeeded in inflating a few necessities this week.. just not the roof over our head.

karen said...

uh-oh.. 1200 here we come.

CV said...

"it does seem to me that BB has succeeded in inflating a few necessities"

If ben were here, he'd nail you on that one :-)

CV said...

bens point... which I understand...

Is not whether prices did this or that... It's the "notion" that gets developed when these masterminds pull levers...

It re-inforces a belief system...

karen said...

i have an offer to subscribe to bloomberg businessweek for $30.. rolling my eyes.. i swore i wouldn't subscribe to any more print materials unless they had beautiful pictures in them.. cote sud or veranda, for example..

AmenRa said...

CV

Ben?!? Hell LB would be out of control after seeing that statement LMAO :-)

Bruce in Tennessee said...

I simply cannot help it...

I look forward to thanksgiving because we eat that canned cranberry jelly. And I love it. Not fresh cranberries, that Jello-looking stuff from the can. My wife likes fresh berries, but not bubba...

I think I could eat the whole can by myself, sometimes.

CV said...

@karen

bloomberg?

Hell... you get my "Translations" on all their stories each day for free here... :-)

AmenRa said...

Dang. Gotta make a run. Corner will be up later. Enjoy the rest of the day mi gente.

karen said...

CV, I kno, right?! tossed the offer..

Bruce.. yup, that canned stuff is a must, but i also like the fresh : )

karen said...

cursing dto.. i bot a bit too soon.

CV said...

canned baby!

karen said...

Come on.. where is 1200..

CV said...

I've gotta head out of here in a few minutes too...

Tomorrow I'll have a thread up (with some football picks for the Thanksgiving games)...

But I'm going to run the thread straight thru Friday...

Amen... Because Friday isn't much of a day (trading wise - or "ought not" be)... As far as I'm concerned, no need for a Friday wrap if you have other things to do...

I can just continue to run the Thanksgiving thread into the weekend and add to it if need be...

Later folks! Happy Thanksgiving!

CV

ben22 said...

ah, back home, everything looks the same, the trees are all bigger.

haven't really had a chance to check everything out after today's action being in the car all day but I'm wondering if this correction is over or nearly so.....it's almost over people, hopefully you can smile at all the bull taunting that is going on, they should be speared within 8 months, there will be blood.

call me ahab said...

Are you serious? Did he really send such and email?

mutt- sort of. He had mentioned in one of his posts that some folks had been sending him emails asking for comments to be moderated and that my name was brought up quite a bit- here's the exact post from BR-

Several regulars have emailed suggestions as to ways to make the comments more useful. These include scoring/ranking comments, “super commentors” with moderation rights, and other group moderation of comments.

Ahab, your name seeems to come up a lot (lol)


so I emailed him asking him if I was being banned- my email to BR:

hey BR-

you banned me? My comments now relegated to the Spam queue?

and here I was trying to make friends!

lol



and his response-

No, you are not banned -- you are not even moderated
Based on emails, the crowd wants you banned, but I dont care to give in to each whom of the crowd.

I do, however, object to your constant misstating of my views. That will get you a time out



so there it is- the rest of the story- and it appears that some folks just don't appreciate ol' Ahab-

but- all in all- BR not a bad dude

AmenRa said...

Corner's up...

SPX just couldn't break 1200 no matter how hard the market pushed.

Thanks for clarifying said...

Ahab - Thanks, for clarifying that.

Sounds like BR was just letting you know what was going on.

Keep up your great posting and have a great turkey day.

Mutt

Canned Baby said...

Cvienne (3:56) - Just an FYI, but babies don't come in a can.

I got a great book that goes through the step on how they actually get here, it's yours if you want to borrow it :)

Mangy Mutt

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