Morning Corner 2.17.11

Posted by AmenRa on Thursday, February 17, 2011 /
Rough Rice (weekly info)
new high 15.89
trend=no
direction=up (2 bars)
high= 15.89
rev= 13.70; mid= 14.80


This week rough rice is getting sold HARD. It's only Wednesday and it's already below the weekly 3LB mid. Weekly pattern has formed an evening star. It still is above all SMA's. I wonder if China is somehow involved in the sell off.



Coffee (weekly info)
new high 251.65
trend=up
high=251.65
rev= 240.50; mid= 246.08



Coffee is still getting more expensive. At least it hasn't broken above the trend line. If it does then Starbucks may have to change its name to Starchange.



SPX/Gold Ratio (monthly info)
-no change (above mid)
low= 0.7663
rev= 1.0700; mid= 0.9182




This ratio is back above its monthly mid and the weekly is trending up. The last time is made it above the mid was in April 2009. From this one can see that even if the SPX gets back to 1500 its value is still far off the peak. Using the high from July 99 of 5.5933 and todays gold price ($1375.10) the SPX would have to be at $7691.35 to be comparable. Or gold would have to be $238.91. Think either of these will happen anytime soon?





The Bears may have to break out "The Final Getsuga Tenshou" to get this market to correct...

204 comments:

«Oldest   ‹Older   201 – 204 of 204   Newer›   Newest»
Anonymous said...

Seems odd that ZROZ and TBT would both be down, dunnit?

February 17, 2011 at 4:42 PM
Anonymous said...

Yup. Welcome to the world of synthetic derivatives.

February 17, 2011 at 4:48 PM
A fixed income analyst to be named later said...

Mish is at his best when he composes simple posts like this:

http://globaleconomicanalysis.blogspot.com/2011/02/european-sovereign-debt-crisis-in.html

Elegant and without the ranting. No need. Data tell their own tale.

February 17, 2011 at 4:56 PM
Anonymous said...

guys,

the blitz in retail world to get people "in" is thick as hell right now, it's coming from all sides, recovery recovery!!!!!

i wonder if frizz or short c are out there still reading this blog and if they are seeing the same things as they are both advisors....it's pretty amazing on my end.

also, just got done with another meeting, no questions about gold, but there were questions about guns.....

maybe it's time to look at that Smith and Wesson Chart again.

- Ben

February 17, 2011 at 5:11 PM
«Oldest ‹Older   201 – 204 of 204   Newer› Newest»

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.