AmenRa's Corner

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



Creditcane™: Still need to convince a few more that it's safe to get back in.



SPX
Bullish long day. Midpoint above EMA(10). Well above SMA(21). No daily 3LB changes (reversal is 1225.85). Holding above weekly 3LB midpoint. QE2infinity.



DXY
Bearish long day (confirmed bearish engulfing). Midpoint above EMA(10). Failed the 38.2% retrace at 80.63. Back below 80.95 (major fibo from low). No daily 3LB changes (reversal is 79.87).



VIX
Bearish long day (confirmed hanging man). Midpoint below EMA(10). Back below SMA(21). No daily 3LB changes (reversal is 18.04). Back in the "no fear" zone.



GOLD
Spinning top day. Still above SMA(21). Midpoint above EMA(10). New 0% retrace has been holding. No daily 3LB (reversal is 1405.10). Somebody got spooked.



EURUSD
Bullish short day (confirmed bullish engulfing). Midpoint below EMA(10). Held its 38.2% retrace at 1.3129. Now above SMA(144). No daily 3LB changes (reversal is 1.3313).



JNK
Spinning top day (still in the triangle). Still below SMA(55) but above SMA(89). Midpoint below EMA(10). Still failing the Gann 4x1. No daily 3LB changes (reversal is 40.30).



10YR YIELD
Hanging man day. The 0.0% fibo retrace at 23.59 has held. Retested SMA(144) and passed. Above its 38.2% retrace (29.91). Midpoint above EMA(10). New high on daily 3LB (reversal is 29.11).



DJ TRANS AVG
Bullish long day. Well above SMA(21). Midpoint above EMA(10). New high on daily 3LB (reversal is 4749.99).




CRB
Bullish short day. Midpoint above EMA(10). Back above SMA(21). Above the Gann 2x1. No daily 3LB changes (reversal is 315.25).




XLF
Bullish long day. Midpoint above EMA(10). Now above SMA(21). Looking to test the lower trend line. No daily 3LB changes (reversal is 14.23).



XRT
Spinning top day. Midpoint above EMA(10). Still above all SMA's. New high on daily 3LB (reversal is 47.33). Santa Claus {sucker} rally?



LEFTBACK'S BOND REPORT

The Bond Report 12.2.10

All the pain was before the bond ETFs traded, but the selling of Treasuries continued in today's session. This must have been a really bad day for picking up pennies in front of the steamroller....

Corpies: LQD -0.22%; AGG -0.20%; JNK 0%; HYG 0.06%
Govies: TLT -0.27%; IEI -0.23%; TIP -0.04%
Hedgies: TBT 0.69%

We remain long HYG and SPY, with some TBT, and a pinch of TIP. It is very likely that we wlll move to a more conservative position over the next 3-5 trading days. Say what you will about LB but we have nailed the fundamental turns in the bond market fairly well in 2010....



30 comments:

cv said...

@I-Man (from other thread)

JBTFD (and go steelhead fishing)...

How hard is that? :-)

I-Man said...

Hey I saw that ZH bit that from you... maybe Tyler Durden reads this shit.

I-Man said...

And I just watched it!
Brilliant!

cv said...

@I-Man

other way around...

Oh... and I'm going to take ARIZONA STATE SUNDEVILS tonight (for a unit)... to add to the EAGLES...

I-Man said...

Not sure what to watch tonight, LeBron's Homecoming or Eagles/Texans...

cv said...

@I-Man

I got $$ on Eagles-Texans...

But I'll be watching LeBron... (and flipping back & forth)

McFearless said...

this pains me so so much, but if the big dance were to start today, Duke would likely run away with it

my heels have already lost!

and, Wisconsin / NC State last night....WTF was that?

Ben22 said...

just throwing this up, I don't have an opinion on the count yet:

http://2.bp.blogspot.com/_TwUS3GyHKsQ/TPgx5UBkJ6I/AAAAAAAAIJs/CuUI3R7qq-s/s1600/bonds.png

cv said...

@ben22 (7:24)

Looks like the "pre-stages" to a decade long 3P&ADH to me... :-)

Ben22 said...

we'll see, I'm in the Gary Schilling/Hugh Hendry crazy camp still with bonds, this is a correction, not the start of a massive bear market in fixed income.

Ben22 said...

I can just smell the lockout, going to really try to soak in the rest of the season:

http://sports.yahoo.com/nfl/blog/shutdown_corner/post/Now-Terrell-Suggs-is-bashing-the-NFL-says-leagu?urn=nfl-291236

Ben22 said...

hey, just a reminder, ISM came in WTE yesterday, but you didn't see that headline to explain the market

all the news that fits.....

lol

AmenRa said...

Anyone have the link to GS forecast for 2008? Considering they just released something on how to play the bull market in 2011 I want to see what they predicted for 2008.

AmenRa said...

Ben

Weekly claims and continued claims were WTE also. They quickly changed the subject to something else.

McFearless said...

http://numbers.computation.free.fr/Constants/Miscellaneous/Records.html

Supernerds unite

a new record in the computed digits for Phi!

McFearless said...

no doubt Ra, none of it matters

daily news = noise

Anonymous said...

As Sergio Marchionne brings back Fiat SpA to the U.S. after nearly three decades, he may add another Italian speciality: the natural gas engine.

Marchionne, who is chief executive officer of Fiat and Chrysler Group LLC, says natural gas engines offer a better way to cut emissions because they're cheaper than competing technologies. He also argues electric cars, which General Motors Co. and Toyota Motor Corp. are betting on, present "too many obstacles" such as the recharge time for batteries.

"Natural gas is very suitable for the U.S.," Constantinos Vafidis, who oversees transmission and hybrid development at Fiat's research center in Turin, Italy, said in an interview. "Especially for public services and goods transportation, where vehicles are refueled from a central base."
http://www.bloomberg.com/news/2010-12-01/fiat-s-marchionne-bets-on-natural-gas-for-u-s-as-gm-toyota-go-electric.html

AAIP

McFearless said...

lebron is having a sweet game, cavs getting smoked

the close ups of the fans are nice

McFearless said...

So, Leftback, I'm guessing had the world cup come here you would have def. gone to the matches.

How about Qatar, gonna try to make it?

AmenRa said...

Quiet as its kept the Fed is shitting bricks: http://www.businessweek.com/magazine/content/10_50/b4207035613107.htm

AmenRa said...

Oh yeah the ISM Business Report new orders/inventories ratio is 0.9982 which according to Rosenburg indicates a sub 50 ISM is coming.

cv said...

@Amen

CV is the one **itting bricks...

OK... So I have Arizona State (+4)... They're winning 20-14 with 20 seconds to go...

Arizona scores a TD... No problem, right? Kick the damn extra point and win the game by one (I get 4... I win)... How hard can that be?

BLOCKED!!!!!...

20-20... Overtime...

So now I'm biting my nuts because of this silly NCAA rule of giving both teams a chance to score...

ARIZONA could still win by 6 or 7... (making me lose)

(rolls eyes)

wunsacon said...

I-man,

What's not to like about bailing out HOG? It's a symbol of 'merika, baby. Overpriced shit bikes sold by a company saddled with loans by piece of shit borrow-and-hold experts.

Your hatin' HOG makes Baby Sonny Barger cry.

Anonymous said...

http://quotes.ino.com/chart/?s=NYMEX_CL.F11.E
http://quotes.ino.com/chart/?s=CME_ES.Z10.E

check the correlation between Oil, and the SPX E-Mini..

AAIP

McFearless said...

as you read more about the details of the fed bailouts it is clear that there is no money, it is all debt, and they bailed out a tiny tiny little fraction of it so far


and in return

The data also demonstrate how the Fed, in its scramble to keep the financial system afloat, eventually lowered its standards for the kind of collateral it allowed participating banks to post. From Citigroup, for instance, it accepted $156 million in triple-C collateral or lower - grades that indicate that the assets carried the greatest risk of default.


good thing the economy is getting better

bwahahahahahaha

McFearless said...

that stevie johnson can play, get em while they're hot:

http://dealbreaker.com/2010/12/bills-bonds-great-idea-or-greatest-idea/

karen said...

ben @ 7:28.. thanks for that chart.. i know it is possible.. tho it is hard to fault HH! but technically.. he might have to acknowledge it.

karen said...

this fellow is long GovMo: tradefast

i am stymied by peeps who can quote $GM pension liability to the penny but appear clueless about tax asset worth $14bln

McFearless said...

anyone else watch LeBron continue his greatness last night?

(his words, not mine....)

or, were you all setting your VCRs for "the number" today

VCR's....you guys are so old school

CV said...

new thread

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