AmenRa's Corner

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



Creditcane™: Something's in the water...



SPX
Spinning top day (again). Midpoint above EMA(10). Still above all SMA's. No daily 3LB changes (reversal is 1258.84). QE2infinity. Still treading water. Que sera sera.



DXY
Spinning top day (maybe yesterday was engulfing). Midpoint above EMA(10). Held the 38.2% retrace (80.63). Still above SMA(144). No daily 3LB changes (reversal is 79.03).



VIX
Inverted hammer day (but we're not in a downtrend). Midpoint below EMA(10). Back below SMA(21). No daily 3LB changes (reversal is 15.45). Stuck in the "no fear" zone. Still has a monthly 3LB reversal.



GOLD
Spinning top day. Back above SMA(55). Midpoint below EMA(10). 0.0% retrace holding. Still below 14.6% retrace (1392.69) but didn't test the 23.6% retrace (1368.14). Daily 3LB reversal up (reversal is 1368.90). Must have the precious.



EURUSD
Bullish short day (failed bullish thrusting). Midpoint below EMA(10). Below its 38.2% retrace at 1.3121. Below all SMA's. No daily 3LB changes (reversal is 1.3395).



JNK
Bullish short day. Midpoint above EMA(10). Failing the Gann 4x1. Back above SMA(21) & SMA(89). No daily 3LB changes (reversal is 40.47).




10YR YIELD
Spinning top day. The 0.0% fibo retrace at 35.66 has held. Still below SMA(21). Below its 14.6% retrace (33.86). Midpoint below EMA(10). No daily 3LB changes (reversal is 32.36). Still holding its 23.6% retrace (32.75). Failing upper trendline.



CRB
Bullish long day. Midpoint above EMA(10). Back above SMA(21). No test of 0.0% retrace. No daily 3LB changes (reversal is 332.80). Back above 14.6% retrace (329.28).



XLF
Spinning top day. Midpoint above EMA(10). Still above all SMA's. No test of new 0.0% retrace. Back above the 14.6% retrace (16.20). No daily 3LB changes (reversal is 16.01).



IQI
Spinning top day (or is it the 2nd day of a morning star?). Midpoint below EMA(10). Back below SMA(21). Back below its 14.6% retrace (11.74). No daily 3LB changes (reversal is 11.52).



TLT
Spinning top day. Midpoint below EMA(10). Below all SMA's. Tested and failed its 76.4% retrace (92.50). No daily 3LB changes (reversal is 90.94).



AUDJPY
Spinning top day. Midpoint below EMA(10). Back below SMA(55). Below its 76.4% retrace (0.8226). Below lower trendline of current move. No daily 3LB changes (reversal is 0.8007).



LEFTBACK'S BOND REPORT

The Bond Report 1.11.11

HY outperformed IG again today across the board. We also had a mild steepener after a not-so-good auction of 3y was followed by slightly suspicious buying of the short end (to support B/D's brand new purchases at 1.03%?) after a POMO in the 7-10y range. Tomorrow's thrills and spills include a 10y auction at 1pm and the release of the next Ponzi, sorry we mean POMO, schedule at 2pm.

Corpies: LQD -0.05%; AGG -0.20%; JNK 0.30%; HYG 0.39%
Govies: TLT -0.56%; IEI -0.19%; TIP 0.04%
Hedgies: TBT 1.07%

We sold TIP today b/c we think that long duration will take a trip to the woodshed tomorrow and Thursday as we go into auctions of 10s and 30s and a PPI release.

We are 22% long HYG, 6% TIP, 3% LQD and hedged with 16% TBT. We are now looking to gradually offload HYG and will be reducing our position back down to 15% on strength, while looking to transition into LQD, AGG and TLT - over the next 3-4 weeks, perhaps?



17 comments:

Anonymous said...

Nice round-up Ra.

That IQI chart has "re-test" written all over it, eh?
AUDUSD and/or AUDJPY will be worth revisiting at some point.

FXI and EEM are showing signs of weakness.
They led us up and they will lead us down.

Anonymous said...

DHAKA's market index also showing signs of volatility.....

AmenRa said...

Satyajit Das has a nice article over at naked capitalism: http://tinyurl.com/5t2q64o

AmenRa said...

Added AUDJPY.

Anonymous said...

One very interesting graph here, we all know where the bankstaz be located in this cumulative probability distrubution...

http://economix.blogs.nytimes.com/2011/01/11/why-so-many-rich-people-dont-feel-very-rich/

Anonymous said...

Be cautious. They are watching.

http://www.salon.com/news/opinion/glenn_greenwald/2011/01/10/fear

Mr Bond said...

I may need a few months off:

http://www.bbc.co.uk/news/entertainment-arts-12168421

Anonymous said...

Not sure if there will be many comments from NY tomorrow.
We have anywhere between 6 and 24 inches of snow on the way.

ben22 said...

yeah good luck up there, sounds like you guys are about to get crushed, only 4-8 inches in DE and sunny tomorrow so it will all mostly melt.

AmenRa said...

Loonie high 1.0101

Paging Canada. How much pain can you handle?

Anonymous said...

http://www.elliottwave.com/freeupdates/archives/2011/01/10/Robert-Prechter-Dispels-10-Popular-Investment-Myths-Conclusion.aspx

Anonymous said...

http://whatreallyhappened.com/

worth reviewing today..

AAIP

Andy T said...

Packers are approx +600 to win the Super Bowl. For some reason, I'm feeling a deep desire to place money on them. It just feels like they're getting hot right now. That "line" against Atlanta tells me they're going to take the Falcons. They can certainly beat either the Bears or S'Hawks in an NFC Finale.

Also, think the odds of Patriots NOT making the Super Bowl are better than most people think.

Bottom Line: At this point, the best looking Super Bowl odds are the Packers in my mind.

Now watch, they'll get spanked by the Falcons....

karen said...

I am crossing my fingers on another day of loonie high.. i can only transact 3k at a time thru wfc.. : (

thank you, AR! and for the Das article, too.

LOL at Mr. Bond.. but Craig is my favorite bond, sighing : )

wunsacon said...

Andy, I just don't think the Packers' run offense is productive enough to win the SuperBowl.

I'm rooting for them though. For all his concussions thus far, god owes Aaron Rodgers a ring.

And Green Bay is the only team that has real roots to the town where its from. Every other team is a business that tries to finagle stadium deals that cost taxpayers money and threatens to skip town if they don't get what they want.

CV said...

@Andy

Packers & Ravens were CV's preseason picks to go to the Superbowl...

Both have tough matchups this weekend, but if they can get by, I really like those chances... (especially in the case of Green Bay)...

CV said...

Sidenote to that...

Since 2002, Teams that won their first playoff game as a ROAD DOG (Packers), are 7-2 ATS since 2005...

Playoff teams with a bye (Falcons) are 10-18 ATS since 2003...

(Might want to consider that ALSO when looking at the Jets & Seahawks this weekend...

Doesn't apply to the Ravens... They were ROAD FAVORITES... (vs. KC)...

Joe Flacco is 0-5 vs. Ben Rothleisberger...

Jay Cutler (Bears) is starting in his FIRST EVER postseason game... Cutler is 1-8 against the spread as a "favorite" of 6 points or more... (0-3) as a favorite of 9 or more... The Bears are coming off a BYE week (see above), AND a loss (to Packers - Week 17 - Where the starters played all game and Aaron Rogers was joking with Julius Peppers during the game begging them to lighten up a little)...

Post a Comment

Disclosure/Warning

This blog should not be interpreted as investment advice of any kind. The authors are NOT representing themselves CTAs or CFAs or Investment/Trading Advisor of any kind. The authors may or may not trade in the markets discussed. The authors may hold positions opposite of what may by inferred by this blog.The information contained in this blog is taken from sources the authors believes to be reliable, but it is not guaranteed by the authors as to the accuracy or completeness thereof and is presented here for information purposes only. Commodity trading involves risk and is not for everyone.