Morning Corner 3.28.11

DAX (weekly info)
-no change (below mid)
trend=no
direction=down (2 bars)
low= 6664.40
rev= 7426.81; mid= 7045.61


Germany is not doing too well. Made a confirmation low on the weekly 3LB and is still below the monthly 3LB mid. If they're supposed to be leading the way then it's clear which way we're headed.



DXY (weekly info)
-no change (below mid)
trend=down
low= 75.72
rev= 77.66; mid= 76.69



Last week formed a bullish piercing on the weekly chart. Is the dollar preparing to make its move higher? Many people believe the dollar should be heading to new lows because of monetary policy. The dollar may become a temporary safe haven as problems in Europe persist. Ireland is now talking about giving senor bondholders a haircut. The IMF is preparing for a major event. Fasten your seat belts.

63 comments:

Anonymous said...

Forex & Bonds Last Change Change %
EUR/USD 1.4046 -0.0034 -0.24%
USD/JPY 81.71 +0.37 +0.46%
GBP/USD 1.5978 -0.0049 -0.31%
5-Year Treasury 2.169 +0.056 +2.65%
10-Year Treasury 3.444 +0.04 +1.18%
30-Year Treasury 4.506 +0.036 +0.81%


also, who likes
http://finviz.com/quote.ashx?t=NTZ
as any kind of 'Canary'?

AAIP

Anonymous said...

you know, as an aside, when I across 'anonymous' d-bags that say negative things about me, I, for sure, am the first one to fold in my Tent, pack up the Ruck, and scurry away..

ibid..

BinT said...

"The income report also includes a section covering personal consumption expenditures, also known as PCE. PCE is comprised of three categories: durables, nondurables, and services."

Read more: http://briefing.com/Investor/Public/Calendars/EconomicReleases/income.htm#ixzz1Hth9hTjK


...income up .3% but spending up .7%...

...Now I wonder where it was spent?

AmenRa said...

BinT

At the gas station and grocery store...

AmenRa said...

Gold and silver getting sold hard. PM expiration must be irking Blythe.

Anonymous said...

yes, many anecdotal 'Stories' about J4P putting more, and more, of his Food & Fuel bills on the 'Credit Card'..

also, 'hardship' Withdrawals, for 200.5(k) Accounts, at record highs..

http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus&v%3Aproject=clusty&query=Hardship+Withdrawals+401%28k%29+records

ibid.

Anonymous said...

Futures Prices
Market Last Change %
Crude Oil 104.15 -1.25 -1.18
Natural Gas 4.504 +0.014 +0.31
Corn 689.50 -13.00 -1.88
Soybeans 1358.25 +3.75 +0.28
30yr Bond 120.00000 -0.25000 -0.21
10yr Note 119.187500 -0.312500 -0.26
NY Gold 1414.9 -12.7 -0.89
NY Silver 36.645 -0.404 -1.08
http://www.ino.com/

18 said...

I don't think I've said this before, better late than never I guess... Thanks Ra!, for the everyday charts and stuff... and thanks to everyone for your inputs!

18

Anonymous said...

http://market-ticker.org/

Denninger has some good articles Today..

incl.: "...We have plenty of laws already. The problem isn't that Elizabeth Warren is putting together the CFPB, it's that the entire concept of a CFPB is a joke and a fraud upon the public in the first instance. The more byzantine you can make a set of laws or regulations the more you can wave your arms and pretend to be doing something important while accomplishing nothing at the same time the Jester is stealing all the cookies right out from under your nose.

The banking industry has turned this sort of Washington DC hand-waving into an art form. We have seen money laundering, passing of funds to and from barred nations such as Iran while intentionally obscuring the source or destination of funds, crooked sewer contracts in Jefferson County Alabama and well over a trillion dollars in bogus mortgages made and peddled worldwide. Any of these, standing alone, should have been enough to shut all of these firms down.

The real scam is that we continue to fall for the false claims and people screaming and shouting about that which will do nothing to stem the scams and frauds, for the simple reason that we need no new laws to sanction the conduct that took place.

Without a prosecutor who will actually prosecute all we're doing is making noise to divert the public's attention while the thieves steal all the loot..."
http://market-ticker.org/akcs-www?post=183081

ibid.

wunsacon said...

http://www.nakedcapitalism.com/2011/03/the-sandbagging-of-elizabeth-warren-and-49-state-attorneys-general.html

http://market-ticker.org/akcs-www?singlepost=2485603

karen said...

good morning! i wish i was more with it today..

Anonymous said...

wunsa-

I know you like her new Clairol #1321 dye-job/hair-do, but, really?, ya think she's, actually, doing anything constructive, or, is she being used as a 'Tool'?

AAIP

AmenRa said...

Definitely a battle for position in the markets. Bulls are struggling to keep the market up but it's not looking good.

AmenRa said...

Holy crap! Buy programs just kicked into overdrive. Bastids.

Anonymous said...

Jack Welch vs. Elizabeth Warren-

http://www.cnbc.com/id/15840232/?video=1598062673&play=1

Why does his family let him out of the house anymore?

Anonymous said...

PS- The next video in the cue is straight up crazy town time with Jack.

AmenRa said...

Trying to force a Momo Monday. Every dip being bought with reckless abandon. Esto no terminar√° bien.

karen said...

this was quite clever... overlay charts of the (circa y2k) and silver, as well as some ratio charts..

http://www.marketanthropology.com/2011/03/topspotting.html

AmenRa said...

That's weird. Only zerohedge has the Dallas Fed release. I didn't see it on marketwatch, finance yahoo, bloomberg, reuters. I guess when it's really bad no one wants the trading public to know.

ben22 said...

AT,

great charts as always

all,

since the site is apparently being shut off on friday, for those of you that have my e-mail feel free to keep in touch from time to time

I-Man said...

Yeah same here.

I-Man dont feel like participating in a blog where the author dangles "deletion" like a threat.

Lame.

BinT said...

I-Man:

I am going trout fishing in a couple of weekends. I will try to post some pics to remind you of us hillbillies...

karen said...

bruce, that's great.. i have your blog bookmarked..

Andy, seconding Ben.. thanks for the charts! Finally got to them this morning.

karen said...

LULU is having an 8% up day on no news.. of course, the 12.5% of float short position can't be having an impact..

Anonymous said...

Been reading Ben, BinT, Leftback, AmenRa, all.

Hope you find a place to meet again.

Thanks also to CV.

karen said...

just received a recorded message about renegotiating my home mtg including principal reduction under the government's mandate to help all distressed homeowners blah, blah, blah.. UFB..

karen said...

The Japanese reactor news just gets worse http://www.forexlive.com/176236/all/the-japanese-reactor-news-just-gets-worse

karen said...

http://finance.yahoo.com/news/Buffetts-firm-defends-apf-2169409035.html

Book Cooking is alive and well.

Warren Buffett's company offered a strong endorsement of five stocks it holds as part of discussions with regulators about how it should value Wells Fargo & Co., Kraft Foods, Sanofi Aventis, Swiss Re and US Bancorp.

Berkshire ultimately agreed to record an impairment of the value of its holdings in drugmaker Sanofi Aventis, reinsurance firm Swiss Re and banking company US Bancorp at the end of 2010. But it didn't write down the values of Kraft and Wells Fargo.

Berkshire officials told regulators on Jan. 11 that they remain confident all five stocks were trading at levels below their true value, and the market price will eventually reflect that.

karen said...

Bespoke
Breadth now at new bull market highs. http://bit.ly/hGheVZ

AmenRa said...

Berkshire is full of BS.

karen said...

JPMorgan's Chief US Equity Strategist Thomas Lee Says 1250 to Hold as S&P 500 Low for 2011 http://ow.ly/4nTDF

Uncle Warren said...

I like my books like I like my steaks - well done and with a cherry coke.

ben22 said...

Karen,

as should be clear by the Bespoke chart
cumulative a/d as a stand-alone is worthless in terms of peredictive value.

for starters, the amount of issues on the exchanges even being traded are different than they were a year ago....

karen said...

in contrast to the cumulative a/d, $nyupv:$nydnv isn't so hot..

but thanks for your comments, ben. i've really don't see it being useful on that type of a chart..

karen said...

put slv on a 30 min chart.. starting at friday's close to the apex.. and this morning's open to the apex.. yeah.. i gave it away.. another triangle.

karen said...

slv breakout? seems like it.

AmenRa said...

Karen

Ask Blythe if she wants to see SLV breakout.

ROR

karen said...

this might be worth reading.. i'm trying to get thru it:

http://pragcap.com/paul-krugman-the-conscience-of-a-neo-liberal

karen said...

$JPM http://chart.ly/rugd5ad Rolling over nicely. GS BAC joining party. XLF weak.

karen said...

Breaking News
More than 40 people refuse to leave nuclear evacuation zone - Japan Times http://bit.ly/dNv8l8

AmenRa said...

Karen

That pragcap article has my head hurting :-)

Anonymous said...

http://moslereconomics.com/mandatory-readings/soft-currency-economics/

Along the lines of the Pragcap piece.

AmenRa said...

Dammit. Buy programs gunning it again...

karen said...

http://dealbook.nytimes.com/2011/03/28/for-sale-illiquid-assets-hard-to-value/

AmenRa said...

Very uneventful for a Momo Monday. MoNo Monday?

OT

Almost didn't recognize David Rosenberg on Bloomberg.

AmenRa said...

karen

quote:
The discounts are not necessarily a reflection of the asset quality, however, experts say. Sometimes, investors just do not have the estimated two to five years to wait it out for the asset value to recover.
/quote

ROR if you want to get out you're going to get screwed.

AmenRa said...

Anyone know the details of the PM expiration from today? How many took cash? How many want delivery?

Andy T said...

From ESPN article...on the Vegas Sports Books and VCU:

"Colbert said his books made the Rams an 80-1 longshot when the final 16 teams were set -- the most improbable team to win a title -- and took some big-money bets at that price.

"VCU is the one team that we don't want to win," he said. "Every other team is good for the house."
~~~~~~~~~~
Guess we now know that VCU WON'T be winning the Title.

AmenRa said...

Andy T

What were the odds on VCU from the start of the tournament? How bad was the hit on Vegas?

karen said...

AR, maybe this will help.. i'm just getting to it now:

http://seekingalpha.com/article/260168-gold-and-silver-options-expiry-march-28-2011-expect-volatility

karen said...

Just received an email from Tulving: We Have A Ton Of
Silver & Gold For Sale In Stock, In Large Quantities

karen said...

Mr Top Step says "you want to know how slow it is here? narrowest spx day since the feb chicago snow day (and prior to then back to december) so arguably smallest spx day

AmenRa said...

karen

I'm going to do some charts of GLD & SLV with dates to see how they act.

AmenRa said...

Shhh!!! The weekly 3LB mid approaches...

Anonymous said...

Don't want to impose but could we just meet up at AmenRa's 3LB site next week if for some reason the lights go out here? Just asking...Do enjoy everyone's commentary immensely....

RPH said...

Agreed.

AmenRa said...

Anon

All we have to do is give Andy & myself full admin rights. We could then continue here with no problems.

72bat said...

anonymous -
to whom do you refer?
we know who we are, but as the caterpillar said, "WHO are YOU?

AmenRa said...

VIX jumped a full percent in the final 15 minutes.

karen said...

Bespoke
$LULU rallies 8%, breaks to new all-time high, then announces 2 for 1 stock split after the close.

karen said...

I'll do whatever.. but at least we have AR's site as a backup plan.

karen said...

back this evening.. gotta run! thanks, AR..

wunsacon said...

AAIP/anon @ 9:35 AM

I LOVE Elizabeth Warren but believe Obama Volckered her, almost immediately, by not nominating her to a real post. Does that make her a "tool"? Yeah, from one perspective. But, that's not her fault. I hope she keeps talking enough to stay in the limelight and to cause a commotion. What else can we do?

Obummer is "no hope" and "no change".

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