A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: Not as bullish of a day as you thought it would be.
SPXBearish short day. Midpoint above EMA(10). Still above all SMA's. Made a new 0.0% retrace (1370.58). No daily 3LB changes (reversal is 1347.24). QE2infinity. "JBTFD. Don't question it. Just do it. Trust me."
DXYSpinning top day. Midpoint below EMA(10). Made a new 0.0% retrace (72.72). Below all SMA's. No daily 3LB changes (reversal is 73.84).
VIXBullish long day (failed bullish thrusting). Midpoint below EMA(10). Still below all SMA's. Daily 3LB reversal up (reversal is 14.62). Still deep in the "no fear" zone.
GOLDDark cloud cover day. Midpoint above EMA(10). Made a new 0.0% retrace (1577.40). Still above all SMA's. No daily 3LB changes (reversal is 1509.10). Holding above upper trend line. Must have the precious.
EURUSDDoji day again. Midpoint above EMA(10). Still holding above the 85.4% retrace (1.4640). Still above all SMA's. No daily 3LB changes (reversal is 1.4614).
JNKBearish long day (after huge gap lower). Midpoint at EMA(10). Still above all SMA's. No test of 0.0% retrace (40.93). Daily 3LB reversal down (reversal is 40.90).
10YR YIELDBearish short day. No test of 0.0% retrace (37.44). Still below all SMA's. Midpoint below EMA(10). Tested and held the 23.6% retrace (32.83). Holding the upper trend line. New low on daily 3LB (reversal is 33.20).
WTISpinning top day (possible bearish harami). Still above all SMA's. Midpoint above EMA(10). Made a new 0.0% retrace (114.83). No dally 3LB changes (reversal is 106.84).
SILVERBearish long day. Still above all SMA's. Midpoint above EMA(10). No test of 0.0% retrace (49.80). Holding upper trend line. Daily 3LB reversal down (reversal is 48.60). "Protect the 50" is the rally cry heard around the world.
BKXBearish short day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and failed its 38.2% retrace (51.48). No daily 3LB changes (reversal is 51.66).
XRTBearish long day. Midpoint above EMA(10). Above all SMA's. Tested and held its 14.6% retrace (52.88). No daily 3LB changes (reversal is 52.79).
18 comments:
CME hikes margins by 12% today
http://www.zerohedge.com/article/and-scene-cme-hikes-silver-margin-third-time-7-days-raises-initial-maintenance-margins-12
Anything to stop the inevitable.
Why did gold open at 1545 and drop to 1516? It recovered back to 1540. Look at the 5 min chart of gold futures.
@Amen Ra (6:18)
Latest Richard Russell (on gold)...
http://www.321gold.com/editorials/russell/russell050211.html
OOOH... I just heard a chopper overhead...
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I think "Ralphy" (from a Christmas Story) lives nearby in a palace compound in "Costellosbad"...
Just as prophecy foretold!
"You'll Shoot your eye out kid!"
http://www.youtube.com/watch?v=ppOXpyhM2wA
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Little did you all know that standard SEAL issue was a "Red Ryder, carbon action, 200 shot, range level, air rifle"
File this one under "strange coincidence"?
It was at precisely 2230 hours (military time) that a newsreader announced the death of Adolf Hitler on May 1, 1945. It was at exactly 2230 hours on May 1, 2011 that President Barack Obama announced the news from the White House that Osama Bin Laden was dead.
What are the odds...really?
@cv. heard that one today....that is really nutz.
@AmenRa. Amazing how Silver richoceted off the 21d SMA....
I'm seeing more gold/silver coin shops opening up around the neighborhood.
I went into a larger place today and saw this sweet little old lady plunk SEVERAL thousand dollars down to buy some gold coins....
I've now discovered that even the "good" shops sort of screw you on the bid/offer if you want to sell come PM....Ebay is slightly better.
Heard an interesting take from a buddy from the Kashmir...
He basically insinuated that the Pakistanis probably helped out more than the media is letting on but that helps everyone involved to believe that the Pakis didn't really help at all and were complicit in harboring him.
i.e....the Pakistani would lose their shit if they found out their government was heavily involved.
Not sure what the "truth" is there...probably somewhere in the middle.
Read an article in Wired Magazine at the dr.'s office today entitled "How Android Beat the iPhone"....had to read it. Sort of an interesting story....
I didn't realize how much market share the Android platform was grabbing....not that it matters much...afterall Steve Jobs is actually Jesus Christ and Apple is the greatest single company on Planet Earth.
Chet,
I don't know if you saw this today but the Front PAGE of the NY Times had a big article on Tilapia Farms....
I chuckled when I saw it....thinking about "Tilapia bitchez."
http://www.nytimes.com/2011/05/02/science/earth/02tilapia.html
Tilapia bitchez...
&
"A Red Ryder, carbon action, 200 shot, range level, air rifle"
I hear the CIA sent one to OBL for Christmas...
Chicago Bulls in a 'dogfight' with Atlanta. Ditto OKC with Memphis...could be a bunch of good series....
Bulls couldn't pull it off.
CV
re: Richard Russell
He's right that there are too many large players owning gold and the government would be nuts to try and take it. Silver OTOH can be ganked.
Andy's latest little turd -
Andy T said...
"Thor said...
Emmie - I don't think we've ever had a 130 comment weekend thread. Not in years!
May 2, 2011 12:13 AM"
98% of the Comments were from three people.
Yawn
Yawn....Indeed.
Silver definitely is a smaller market compared to it's big brother Gold.
I may be misreading the chart, but it sure looks like there's "one more" blast higher coming.
$42/oz is the Line in the Sand for bulls and bears.
Ruh roh Lakers...
Yeah, just finished watching that one....Kobe was unconscious most of the 2/H...they still lost at the end. Lots of good series going down next several days.
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