TRADERS ANONYMOUS: Morning Corner 2.25.11

Morning Corner 2.25.11

New Highs New Lows

Even though the SPX and Dow closed lower there were more new highs than new lows. That might more to do with the late push in the afternoon. Dip buyers? Knife catchers? Nothing wrong with trying to fake the bullish case…not that there is anything wrong with that ;-)

Comparative Currency Performance

From 2007 (pre GFC) to present. Obviously Gold (+101.48%) has outperformed all fiat currencies. Hard to believe the Yen (+43.66%) is doing better than the Swiss Franc (+32.12%). The laggard is DXY (-8.90%).

90 Day Treasury

From what I see here the Fed will not be raising rates anytime soon. ZIRP forever.

I've uncovered an unknown Nostradamus document. It said the identities of those pictured are The Fed, Bank of England, ECB and IMF.

243 comments:

«Oldest ‹Older 201 – 243 of 243 Newer› Newest»

I-Man said...: Hit 1320 on the nose that time...

Now, after this pullback, it will be time to hit it.; February 25, 2011 at 2:20 PM
I-Man said...: I love how any time the market goes up 15 pts, its a "buy program"...; February 25, 2011 at 2:21 PM
karen said...: well, in the case of this fellow.. he calls it before it happens.. or at the very start of it.. i don't know.. he must be trading futures like you.. can you see the bids and asks come in like on level2; February 25, 2011 at 2:27 PM
karen said...: http://voices.washingtonpost.com/44/2011/02/wisconsin-dems-shout-shame-aft.html; February 25, 2011 at 2:29 PM
karen said...: Brenna Hardman
$XLF 141,000 March 15 puts have traded so far today making it the most active options contract among exchanges; February 25, 2011 at 2:33 PM
I-Man said...: yeah, you can see them all on both sides... problem is, you never really know if they are "real" or not, until after the fact when you see the volume on the chart.; February 25, 2011 at 2:33 PM
Anonymous said...: Jury Nullification Advocate Faces Indictment
February 25th, 2011

Via: New York Times:

There was, in fact, nothing wrong with Mr. Heicklen, 78, who eventually opened his eyes and told the judge, “I’m exercising my Fifth Amendment right to remain silent.”

Indeed, it was not his silence that landed Mr. Heicklen, a retired Penn State University chemistry professor, in court; it was what he had been doing outside the federal courthouse at 500 Pearl Street.

Since 2009, Mr. Heicklen has stood there and at courthouse entrances elsewhere and handed out pamphlets encouraging jurors to ignore the law if they disagree with it, and to render verdicts based on conscience.

That concept, called jury nullification, is highly controversial, and courts are hostile to it. But federal prosecutors have now taken the unusual step of having Mr. Heicklen indicted on a charge that his distributing of such pamphlets at the courthouse entrance violates the law against jury tampering. He is to appear in court on Friday for a conference in his case.

Mr. Heicklen insists that he never tries to influence specific jurors or cases, and instead gives his brochures to passers-by, hoping that jurors are among them.

But he feels his message must be getting out, or the government would not have brought charges against him...
http://cryptogon.com/?p=20762

ibid.; February 25, 2011 at 2:33 PM
karen said...: I-Man, exactly what i discovered with Level2 so I don't bother with it at all, and would have to agree with you.. but that was before HFT, too.. before a lot of things, like debt monetization..; February 25, 2011 at 2:39 PM
karen said...: silverbugs have regrouped and will take slv to new highs i guess.; February 25, 2011 at 2:42 PM
karen said...: Rick Santelli on Dollar Decline http://bit.ly/hGuscM; February 25, 2011 at 2:49 PM
Anonymous said...: Crazy?

http://www.dailymail.co.uk/news/worldnews/article-1271319/Gadhafi-Switzerland-Mafia-state-dissolved-carved-France-Germany-Italy.html; February 25, 2011 at 2:52 PM
Cold Steel said...: Yawn....

It only takes 5 minutes, girl, to fall in love.....; February 25, 2011 at 3:04 PM
Mr Shorty said...: Look at this beast.. there'll be some shorting fun on the back side of this puppy....

http://www.bloomberg.com/apps/quote?ticker=ERX:US; February 25, 2011 at 3:12 PM
I-Man said...: Its time...

Take 'em.

It was hard to wait for this one yall, I swear, the best algo out there would be one that knows how to capitalize off human impatience...

You'd be a rich geek if you could program that one.

Trying to teach a toddler patience has taught I much about my own...

The market sure as shit dont reward impatience.; February 25, 2011 at 3:24 PM
Anonymous said...: Someone pissed LB off. Check it out...

http://www.blogger.com/comment.g?blogID=34323687&postID=2967826030485911696&page=1&token=1298665506725; February 25, 2011 at 3:26 PM
Anonymous said...: New Stealth Bomber Could Control Drones, Fire Lasers, Bust Bunkers
February 24th, 2011

Recovery!

Via: Wired:

The Air Force’s new stealth bomber might do more than just drop bombs, top generals said in recent days. The so-called “Long-Range Strike” plane — likely to be designated B-3 — could also carry bunker-busting, rocket-boosted munitions, high-powered lasers for self-defense and datalinks, and consoles for controlling radar-evading drones.

These add-ons, described by Air Force generals Philip Breedlove, William Fraser and David Scott, are meant to make the new bomber more lethal and harder to shoot down, even in the face of rapidly-modernizing air defenses such as China’s. “The purpose of this aircraft is to survive in an Anti-Access Area Denial environment,”Scott said, using the latest Pentagon term for defended airspace.

To that end, the bomber’s lasers might zap incoming missiles and fighters; the drones could fly ahead to scout and disable air-defense radars; the bunker-busters should ensure the bomber can actually destroy the enemy’s facilities once it breaks through the defenses.
http://cryptogon.com/?p=20752

ibid.; February 25, 2011 at 3:37 PM
I-Man said...: Might be wrong about this one... happens.; February 25, 2011 at 3:41 PM
I-Man said...: Well, we avoided the stop out by 1 tick just now...

If Team Bid shows up now, we will ride.; February 25, 2011 at 3:41 PM
I-Man said...: And if we get stopped out, we wont cry... been a hell of a week.

Thanks all for listening to I and I chatter.; February 25, 2011 at 3:44 PM
karen said...: LOL.. it won't happen but the dow is really good at dropping 50 in 5 min..; February 25, 2011 at 3:44 PM
karen said...: or popping : ); February 25, 2011 at 3:45 PM
I-Man said...: I know...

I'm cautiously hoping for one of those 50 tick rips right now...

:)

Only reason I'm still here on a friday afternoon.; February 25, 2011 at 3:46 PM
I-Man said...: That and some of my best trades have been the ones where I missed getting stopped out by 1 tick.; February 25, 2011 at 3:47 PM
A fixed income analyst to be named later said...: The Bond Report 2.2.5.11 ...
"The Daily Diary of the American Scream"

They were up.
All of them.
THE END.

By AFIA2BNL, aged 12.

See you Monday.; February 25, 2011 at 3:50 PM
I-Man said...: Nothing like waiting til the last minute, Mr Market.; February 25, 2011 at 3:52 PM
AmenRa said...: AFIA2BNL

LMAO; February 25, 2011 at 3:56 PM
karen said...: okay, a close under 1320 calls for my red satin spanish dancer shoes..; February 25, 2011 at 3:58 PM
karen said...: especially if the 12 year old has left the party!; February 25, 2011 at 3:58 PM
AmenRa said...: Karen

The 12 year olds bat signal just went off.

---------------------
The SPX found a way to close above its weekly 3LB mid. Props to the bulls. Still think it's a head fake.; February 25, 2011 at 4:03 PM
I-Man said...: Yeah, not too enamored with the way we closed today...

We should have ripped a lot harder if we are going to make a higher high.

This may end up setting up the first lower high on a daily chart we have seen in a long time.; February 25, 2011 at 4:06 PM
I-Man said...: Nothing a good old fashioned gap up Monday cant fix tho, I suppose.

As always, we shall see.

TJIF!; February 25, 2011 at 4:07 PM
karen said...: AR, I wish you hadn't told me that !! (meaning the spx above weekly 3LB)

However, weekly candle looking weak and a confirmation?? calls for another down week at the least, then we can all JBTFD..

I am rather shocked we closed under 1320, however.. that backfired on me : ); February 25, 2011 at 4:08 PM
Anonymous said...: I-Bro,

might I suggest
http://barberhalf.com/

a nice 1913-S, should do the trick..

AAIP

:); February 25, 2011 at 4:11 PM
Anonymous said...: 1319.97 +13.87 (+1.06%)

doesn't get too much closer to 1320, than that..

http://quotes.ino.com/chart/?s=CME_INX

ibid.; February 25, 2011 at 4:13 PM
AmenRa said...: Karen

The weekly would've looked better if it had gapped higher at the open this week. A hanging man that didn't gap higher takes away some of its bearishness.; February 25, 2011 at 4:13 PM
karen said...: oh! i just found something bearish! DIA and $INDU.. neither retook the 13 ema on my trend chart.. but that's grasping at straws..

$tran is ugly; February 25, 2011 at 4:23 PM
karen said...: i was just looking at this solid div payor, SYY, and their recent news:

Sysco 2nd-Quarter Profit Fell 3.8% On Higher Costs
2/7/11 NEW YORK (Dow Jones)--Sysco Corp.'s (SYY) fiscal second-quarter earnings fell 3.8% as the company continues to face higher food, fuel and overhead costs.

Sysco, the largest food-service distributor in the U.S., is struggling to find a balance between keeping up with commodities inflation and keeping its customers happy.

"It's a catch-22," said Chief Executive Bill DeLaney on a conference call Monday. "The rate of the cost increases is 10% to 12%, and it's just hard to grow the price point at that level and still make the sale."; February 25, 2011 at 4:32 PM
karen said...: okay, time to go I guess, laughing.. since I seem to be the last one left.; February 25, 2011 at 4:33 PM
AmenRa said...: Karen

I still have to do the corner :-); February 25, 2011 at 4:43 PM
karen said...: Well, i will certainly be back!! Thank you; February 25, 2011 at 4:44 PM
BinT said...: I think I'll have to quit posting here....

I think someone reads the usual nuttiness we post and within a few days the regular internet gets ahold of it...stagflation just being the lastest.

Have ya'll noticed the same thing?; February 25, 2011 at 4:59 PM
AmenRa said...: BinT

I'm waiting for them to pick up on the Four Horsemen.

:-); February 25, 2011 at 5:29 PM
karen said...: LOL!!; February 25, 2011 at 7:33 PM

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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.

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Morning Corner 2.25.11

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