TRADERS ANONYMOUS: Morning Corner 3.15.11

Morning Corner 3.15.11

AH views (10 hours to open)...

ES (weekly info)
-no change (below mid)
trend=up
high= 1342.50
rev= 1289.50; mid= 1315.63

It's a little after 23:00 ET and it's a bloodbath in the futures. If somehow this turns around before the open I will be astounded. Pictured is a 15 min chart of the AH carnage.

Nikkei Futures (weekly info)
WEEKLY REVERSAL new low 10005.00
trend=no
direction=down (1 bar)
low= 10005.00
rev= 10830.00; mid= 10417.50

Nikkei Futures oddly enough was a week behind in having a weekly 3LB reversal down. It's looking like this week will be confirmation. This is a log chart so that candle is no joke. Most of the Asia markets are participating in this move down. It's 23:19 ET so it's still early in the trading session and the final move down is not yet known.

TED Spread
Things are also not well in euroland...

250 comments:

«Oldest ‹Older 201 – 250 of 250 Newer› Newest»

karen said...: atlantis.. this would be something! on tonight. http://www.ritholtz.com/blog/2011/03/finding-the-lost-city-of-atlantis/; March 15, 2011 at 12:58 PM
Anonymous said...: 28 earthquakes just today off the Japan coast.

http://earthquake.usgs.gov/earthquakes/recenteqsww/Quakes/quakes_all.php

foghorn; March 15, 2011 at 1:00 PM
Anonymous said...: Weather forecast on CNN this morning had a low developing off the coast and pushing the wind toward Tokyo.
Not good.

foghorn; March 15, 2011 at 1:01 PM
karen said...: zerohedge
Rumor Nikkei To Remain Closed For Rest Of Week On "Margin Issues" http://is.gd/eHUJFw

margin issues or nuclear issues.. anyway, nothing like being told you can't sell..; March 15, 2011 at 1:02 PM
karen said...: Reuters Science News
Radiation plume could reach Tokyo: U.S. scientists http://dlvr.it/KM348

U.S. aims to shield Japan forces from radiation risk http://t.co/EJfw4EZ; March 15, 2011 at 1:03 PM
karen said...: BBC Global News
European Energy Commissioner Guenther Oettinger: Tokyo has lost almost all control of events at #Fukushima #nuclear plant, from AFP; March 15, 2011 at 1:03 PM
Anonymous said...: http://www.livestation.com/channels/18-rt-english

Just heard a great analogy from the above.
We're working on a car going 100 MPH with no brakes and no steering.
Hang on.

foghorn; March 15, 2011 at 1:08 PM
spoonman said...: CV,
Yeah, emphasis on "or something"...Gotta look into it.; March 15, 2011 at 1:08 PM
karen said...: Reuters Top News
Special report: Big California quake likely to devastate state reut.rs/gGcity; March 15, 2011 at 1:09 PM
Anonymous said...: IMO the whole thing has been out of control since the tsunami hit and wiped out the backup generators.
I watch the press conferences from Japan, TEPCO officials know what is going on. You can tell by the body language.
The only thing under control was the 'spin effort'.

foghorn; March 15, 2011 at 1:11 PM
karen said...: http://www.ritholtz.com/blog/2011/03/allocation-shift-closing-shorts-adding-longs/; March 15, 2011 at 1:11 PM
karen said...: http://blogs.wsj.com/marketbeat/2011/03/15/bank-dividends-fed-approvals-due-soonish/; March 15, 2011 at 1:13 PM
Anonymous said...: Here is what concerns me the most.
we are like 7 year old boys playing wit h fireworks.
We unleash shit we have no way of controlling and then say 'whocuddaknowd' like a bunch of fucking morons.

Well all this dumb shit is coming to a screeching halt.
We will get right or we will get gone.
It is the way of nature.

foghorn; March 15, 2011 at 1:17 PM
karen said...: funny little spike down on spy ten min at 1:00..; March 15, 2011 at 1:23 PM
ben22 said...: Karen,

I think the Bespoke survey is meaningless, it's 400 people taken in isolation

I only like to look at ratio's with sentiment indicators, otherwise you end up reading them like Barry does.....wrongly, as I've proved twice now in the last year.; March 15, 2011 at 1:28 PM
ben22 said...: Karen,

on the funny spike down, look at the funny spike up earlier today, target hit, don't be surprised if this one on the down side is too, very clearly 1280 got rejected:

http://bbs.cobrasmarketview.com/download/file.php?id=887&mode=view; March 15, 2011 at 1:32 PM
CV said...: @karen

I watched that NAT GEO special on "Atlantis" this past weekend...

once again... Ritholtz about a week late on "the trade"...; March 15, 2011 at 1:35 PM
karen said...: oh, yes, ben, fascinating that ignored that spy spike up.. now the relation is quite clear.. (agree with you on survey.. just wanted to post for interest that not EVERYONE is a bull, laughing.)

sorry on the Atlantis thing.. i don't get TV.. did not realize it aired already.; March 15, 2011 at 1:38 PM
Bruce in Tennessee said...: Probably going to be a few cancellations for that Hawaii vacation....; March 15, 2011 at 1:38 PM
karen said...: http://jessescrossroadscafe.blogspot.com/2011/03/us-dollar-and-japan-crisis-dog-that.html; March 15, 2011 at 1:42 PM
Bruce in Tennessee said...: For that matter, probably going to be a few cancellations for that California vacation....; March 15, 2011 at 1:42 PM
AmenRa said...: quote from http://www.fundmymutualfund.com/

Any aggressive dip buyers who think the coast will soon be clear and this is an overreaction can go in with a proposition that the S&P 500 will hold its yearly lows. Of course, if proven wrong by a move to new yearly lows - evasive action would be prudent. The lows of this morning will be a line in the sand many of the more nimble traders will be watching, after any cursory bounce. But rarely do you gap down and then do a 180 degree move back up.; March 15, 2011 at 1:42 PM
Anonymous said...: Bruce
'When Earth Erupts" is on tonite. The Science Channel. @ 8:00 TVA time.
Pretty fascinating stuff.

foghorn; March 15, 2011 at 1:43 PM
ben22 said...: no, not everyone is a bull, but there is also no denying that

sentiment survey's across the board were at or near 3 year highs going into 2/18

put/call ratio was at 7 year lows

margin usage was where it was in 2007

and on and on and on

and since 2/18

every day after each heavy decline someone prominent has come out to say buy the dip, and I've read countless retail investors/traders say it on blogs as well.

so all that considered we've dropped now if you use the futures lows nearly 100 handles off the S&P high and even still you get about 50/50 bears and bulls

if that's "too bearish" in the near term then I clearly don't have a clue.; March 15, 2011 at 1:44 PM
CV said...: @karen

This IS NOT a mockery of the current situation... But think of the IRONY...

Atlantis is FOUND just as Japan falls into the sea...

@spoonman

I've heard that "The Salvation Army" is a little better... My thinking is that if you're motivated, you have make a critical jump in LOGIC...

All the "knee jerk" is going to go to the Red Cross... (I did the same thing as I donated to the RC after both the 2004 Tsunami & Katrina)...

I didn't regret donating, just kind of regretted the Red Cross... Wished I'd have just sent it to the SA (as a "proxy" for what they might end up getting gipped on because of the donation budgets going to the RC)...

Just saying...

Hell - these days I'm starting to believe the best DONATION one could make would be riding a bike, or switching off the lights for a week (like a "Lent" sacrifice)...

Reduce energy demands and we wouldn't have to build all these facilities (like reactors, oil derricks, refining towers, geo fracking, hydro electric dams, coal smokestacks, and wind power bird guillotines) to operate our I-Pads and the signs on Times Square...

And, no... I wouldn't be a fan of going back to whale oil either...; March 15, 2011 at 1:45 PM
Jennifer said...: Ken Fisher was interviewed while I was out on my chauffeur gig. He was pushing all things Japan, especially Japanese tech. Kyocera, toshiba, those were his picks. Quote "natural disasters are always buying opportunities -- don't wait for a better price, buy today."; March 15, 2011 at 1:45 PM
Jenniferr said...: I guess 1280 was a good trade...sorry I missed it.; March 15, 2011 at 1:47 PM
Bruce in Tennessee said...: Ken Fisher is a bigger grasshopper than Liesman...I would like to see him work as a Starbuckista for awhile...; March 15, 2011 at 1:48 PM
I-Man said...: Fisher has been pumping Japan "big time" for the last 5 years at least.

That guy is a retard.; March 15, 2011 at 1:49 PM
Bruce in Tennessee said...: Ken Fisher is the male Abby Joesph Cohen..; March 15, 2011 at 1:49 PM
ben22 said...: "Quote "natural disasters are always buying opportunities -- don't wait for a better price, buy today."

only a Ken Fisher would say something like this, and by that logic, I suppose we should "hope" for a few more of these, what with all the buying opportunities they ALWAYS create.

If only an asteroid could hit us.

I love it....like I said yesterday

wall of worry my ASS; March 15, 2011 at 1:50 PM
Anonymous said...: CV
That is exactly what I meant by, get right or get gone.
It is now imperative for every one of us to reduce our use of everything and quit polluting the waterways.
The ocean is not a trash dump.

foghorn; March 15, 2011 at 1:50 PM
karen said...: any chance we can have a part 2 on the morning corner to save me some hassle? we've got hours to go..; March 15, 2011 at 1:50 PM
Bruce in Tennessee said...: I wouldn't invest with Fisher with Leftback's money!; March 15, 2011 at 1:50 PM
I-Man said...: I'd like to spit some redman in that dudes eye.; March 15, 2011 at 1:51 PM
Jennifer said...: Hyterical! Off to "Meet your child's future 4th grade teacher!" meeting. I mean, really, don't these people understand what I'm missing??? Hope I'm home for the close.; March 15, 2011 at 1:51 PM
I-Man said...: It will be here tomorrow. Rain or shine.; March 15, 2011 at 1:53 PM
ben22 said...: could be an H&S forming here on S&P; March 15, 2011 at 1:57 PM
AmenRa said...: pt. 2 up; March 15, 2011 at 2:01 PM
CV said...: ...and on OPERATING our electronics...

You go back and look at all the MEGALITHIC stuctures, or even the pre-Colombian cities like Tiwanaku, and archaeologists marvel that the civilizations had no known form of written language...

I say BS (well maybe)...

Who's to say they didn't have computers (or crystals), or something where eventually all their data was stored...

a couple of thousands of years from now, when they did up the ruins of what WAS the great ancient American civilization, they'll find no written records (because all the iPads will have been crushed back in to fine dust)... The "mummified' remains will probably just be everyones teenage sons & daughters with "piercings" all over their bodies and they'll wonder how a PRIMITIVE culture like ours ever built such big cities...; March 15, 2011 at 2:01 PM
Anonymous said...: "If only an asteroid could hit us."

no doubt that Cramer would be pitching CAT; March 15, 2011 at 2:03 PM
Anonymous said...: There is language all over the Pyramids.
What if we mis-interpreted and it means
stay the fuck out nuclear waste storage.
Apropos

foghorn; March 15, 2011 at 2:05 PM
Bruce in Tennessee said...: http://www.cnbc.com/id/41958428

Cramer: Post-Gaddafi, Dow to Rally 1,000 Points

..Well, let's see. Although we are "tightening the noose" there may not be a post-Gaddafi for some years...and there is that other little thing in the news. I do hope the Cramerites, and the Fisherites, and the Cohenites, and the Leismanites bought hand over fist March 7...

But seriously, this is the problem with predictions...they very often suck...; March 15, 2011 at 2:06 PM
Anonymous said...: retard- pronounced re-tard'- emphasis on tard- spoken thusly:

http://www.youtube.com/watch?v=yMpsttlXye8; March 15, 2011 at 2:08 PM
Anonymous said...: "What if we mis-interpreted and it means
stay the fuck out nuclear waste storage."

pretty funny stuff there foghorn; March 15, 2011 at 2:09 PM
Anonymous said...: my 2:08 comment directed towards I-Man's 1:49; March 15, 2011 at 2:11 PM
Anonymous said...: well- my 22.56 limit order for SDS was bot-

could go either way- keeping my fingers crossed-

gotta roll for now- all be good; March 15, 2011 at 2:33 PM
Anonymous said...: http://www.youtube.com/watch?v=pSiUIiF6tdU

Vid of ground opening and closing.
Very weird.

foghorn; March 15, 2011 at 2:34 PM
Anonymous said...: http://www.dailymail.co.uk/news/article-1366308/Japan-earthquake-tsunami-Meltdown-3rd-reactor-blast-hits-nuclear-plant.html

very informative stuff here.

foghorn; March 15, 2011 at 3:28 PM
Anonymous said...: http://e.nikkei.com/e/fr/tnks/Nni20110315D15NY123.htm

"...The government ordered the plant's operator, Tokyo Electric Power Co., on Tuesday night to inject water into the pool at the No. 4 reactor to cool it down "as soon as possible to avert a major nuclear disaster."

TEPCO said the water level in the pool storing the spent fuel rods at its Fukushima No. 1 nuclear plant's No. 4 reactor may have dropped, exposing the rods. Unless the spent fuel rods are cooled down, they could be damaged and emit radioactive substances.

The firm said it has not yet confirmed the current water level or water temperature in the pool and will try to pour water into the facility from Wednesday through holes that were created following an explosion earlier Tuesday in the walls of the building that houses the reactor.

Due to high radiation levels at the No. 4 reactor, workers on Tuesday were unable to prepare for the pouring of water into the troubled pool. Difficult conditions have led the utility to evacuate around 730 of the 800 workers from the site, according to TEPCO.

The firm said its workers were only able to remain in the central control rooms at the Fukushima plant for 10 minutes to avoid exposure to excessive radiation levels. They have retreated to a remote site to monitor data on the reactors, it added...."

==================================

Reading the article further,
all 6 reactors at Fukushima #1 are overheating.
4 have suffered explosions, one #3 suffered a HUGE explosion.
Spent fuel rods from 20 years are stored atop the reactors.
700 personnel have been evacuated-ran away.

5 nuke plants were reported in trouble after the tsunami.
This is just the ONLY one they are reporting on.
TEPCO officials act like they are on death row at the pressers.
All adverse conditions are 'just under' safe thresholds.
Somebody, anybody, explain how you use fire engine pumps in a pressurized closed nuke cooling system. Anybody. Please.
And how the fuck does said pump run out of fuel?
Nothing to see here, move along.

foghorn; March 15, 2011 at 4:11 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 3.15.11

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