Morning Corner 2.11.11

Posted by AmenRa on Friday, February 11, 2011 /
SUGAR (weekly info)
-no change (above mid)
trend=no
direction=up (2 bars)
high= 33.98
rev= 26.15; mid= 30.07


The sweet stuff is trying to show weakness but is still holding above its weekly 3LB mid. The monthly 3LB is trending up. Sooner or later the higher price will make its way through to finished goods.



EGPT (weekly info)
-no change (below mid)
trend=no
direction=down (2 bars)
low= 16.22
rev= 20.42; mid= 18.51


Mubarak offered to step down…in September. That's not exactly bullish. So this ETF will reflect reality soon enough. Plus the Egyptian Bourse isn't even open.



To free markets that are not manipulated we "Miss You"


TLT

229 comments:

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karen said...

year 2k spy high (the left shoulder) was 134.31.. today's high 133.27..

February 11, 2011 at 2:51 PM
A fixed income analyst to be named later said...

My longs aren't doing dick today. This is another pets.com day.

I bet NFLX is zooming. Is there a point to this? I mean, really? What effing use could there be pumping up this crap when people are going hungry and we are worrying about deficits all over the world.

February 11, 2011 at 2:53 PM
karen said...

nflx shorts, i cry for thee..

February 11, 2011 at 2:58 PM
Anonymous said...

another SPX dip from the high now?

LMAO, better buy it!

February 11, 2011 at 2:58 PM
CV said...

@Larry

You and Doug Kass...

Lemme guess... "BFF's" - ROR...

@Alan "We Didn't Start the Fire" Greenspan...

Well - THANK DOG that CV figured you'd end up saying something like that when I bought the 'distressed' farm 3 years ago and paid a 40% markdown with no mortgage...

I STILL figure that I ended up paying FULL retail... "FAIR" kinda guy that I am... (but it's easier growing tomatoes and cucumbers in DIRT than on a concrete driveway, I've found...

http://www.youtube.com/watch?v=eFTLKWw542g

February 11, 2011 at 3:11 PM
Anonymous said...

Spring 2009. Bankers SUFFERING...TERRIBLY. HEROES are needed. Wonder twin powers, ACTIVATE.

I, TIMMAY, will take the form of a lying banker's cabana boy.

I, BENNY, will take the form of a turbo-charged printing press.

Oh, wait. This is just a normally functioing market....

February 11, 2011 at 3:14 PM
Anonymous said...

http://www.salon.com/news/wikileaks/index.html?story=/about/inside_salon/2011/02/11/threats_against_glenn_greenwald_wikileaks

More info and background.

foghorn

February 11, 2011 at 3:17 PM
karen said...

ReutersBreakingNews
Magnitude 7.0 quake strikes Chile, near Concepcion - USGS

February 11, 2011 at 3:19 PM
karen said...

http://www.bloomberg.com/news/2011-02-11/vietnam-devalues-dong-by-record-7-seeking-to-spur-growth-narrow-deficit.html

February 11, 2011 at 3:20 PM
CV said...

The relentless march towards...

Another GAP UP Monday???

I'll leave y'all traders to decide...

Gotta go... (Amen - I'll do some non-sensical post for the weekend - in my usual gibberish - for the WEEKEND tomorrow)... Hoping Andy T will bring some sense and clarity into the realm come Sunday afternoon...

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

(CV actually makes a "cameo" in this video - if you dare to try and spot him)... :-)

Later peeps... (Mi dispiace molto x il solito stravaganza che mi fatto oggi - CIAO - BACIONE)...

February 11, 2011 at 3:23 PM
karen said...

the quality on that video is going to make it tuff, Chet..

interestingly enuf to me, nflx volume is low..

February 11, 2011 at 3:29 PM
CV said...

@karen

Don't rack your "dome"... Not even "I" can spot me...

I DO KNOW that I was in some of those scenes tho...

February 11, 2011 at 3:30 PM
karen said...

okay, the fellow in the blue pants, red tee, and white headband? you were outside the ring.. but then got in and danced around 3:06-3:07 ??

February 11, 2011 at 3:33 PM
Anonymous said...

We are not going to close red today....

He said, sadly.

February 11, 2011 at 3:37 PM
a fixed income analyst to be named later said...

Certain elements of this market are reminiscent of 2000.
Does anyone know what happens to money under these conditions?

February 11, 2011 at 3:38 PM
Giles Straightarrow said...

The SUCTION DEVICE worked perfectly in the emerging markets.
We may be ready for a full-scale test next week, Lloyd.

February 11, 2011 at 3:40 PM
Lord Blankfiend said...

Well done, Giles. Well done.
After the PPI number on Wednesday? Excellent.

February 11, 2011 at 3:41 PM
Anonymous said...

I may have had too much of this flu medication.
We seem to be hearing voices.

February 11, 2011 at 3:52 PM
Marc Faber said...

Your dollahr vill bekom VURTHLEZZ

February 11, 2011 at 3:53 PM
Bwarney Fwank said...

Level Global to liquidate in March:

http://www.bloomberg.com/news/2011-02-11/level-global-investors-will-close-4-billion-hedge-fund-after-raid-by-fbi.html

Look out for FWASH CWASH !!

February 11, 2011 at 3:57 PM
AmenRa said...

I come back and see the bears were forced back into hibernation.

February 11, 2011 at 3:57 PM
A fixed income analyst to be named later said...

Opened a 12% hedge on our fixed income positions.
Hunkering down until the PPI bomb has exploded.

February 11, 2011 at 4:01 PM
AmenRa said...

They tried to get to 1333.58 (100% up from low) but couldn't. That'll get hit with the gap up on Monday. Then can we finally get a selloff?

February 11, 2011 at 4:10 PM
karen said...

okay.. getting the heck off this machine in exchange for some sunshine.. later all!

February 11, 2011 at 4:17 PM
AmenRa said...

karen

...You'll be back. You know you can't resist.

February 11, 2011 at 4:17 PM
Matthew said...

I have been entertaining myself away from home the last two weeks, but I've been keeping my ear to the ground (and I've been reading the comments here in the evenings). As always, I am amused by the theatre of our capital markets.

Today was a well-received respite from the wintry cold steel of my long tsys position, with the warmth of the always-ephemeral common sense assuaging the few of us fixed income investors who actually demand a premium for taking risk (if only for a day).

Spreads in credit seemed a bit too tight for me yesterday, and I was forced to crack my strategy and sell the remainder of my high yield position that I was holding as part of my core (2%->0%). I hate to drop a core holding, but cash can be just as comfortable (unless you are into gold buggery--har har!).

I wouldn't be surprised to see more tomfoolery early next week, pressuring the long bond (again), only to abate on a sell-the-news Wednesday.

The shenanigans are quite amusing lately.
http://www.youtube.com/watch?v=nbgOQf4NaG8

February 11, 2011 at 4:26 PM
A fixed income analyst to be named later said...

My goodness me, I think that was a Bond Report !
Such an impressive take-off it almost qualifies as an homage....

Well, sod it. I can't follow that.

Ra, I hereby nominate Matthew as the Bond Reporter du jour !

February 11, 2011 at 5:00 PM
Andy T said...

"karen said...

my jaw is agape..1330+
"

Hey K. You can't use SAT words here! This the "dead ender" survivalist/loser blog....

We don't fancy words like "agape."

February 11, 2011 at 5:02 PM
Anonymous said...

If the shoe fits...

February 12, 2011 at 1:26 PM
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