A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: Even with the Greece downgrade and Juncker's lying I can't cause any damage. What gives?
SPXBullish short day. Midpoint below EMA(10). Still above all SMA's. No test of 0.0% retrace (1370.58). Tested and held 23.6% retrace (1341.90). No daily 3LB changes (reversal is 1363.61). QE2infinity. "JBTFD. Any questions?"
DXYSpinning top day (also bearish harami). Midpoint above EMA(10). No test of 0.0% retrace (72.70). Still above SMA(21). Tested and failed its 23.6% retrace (74.73). No daily 3LB changes (reversal is 72.93).
VIXDark cloud cover day. Midpoint above EMA(10). Now below SMA(89). Failed its 23.6% retrace (18.28). No daily 3LB changes (reversal is 16.70). Still in the "no fear" zone.
GOLDBullish long day. Midpoint below EMA(10). No test of 0.0% retrace (1577.40). Now above SMA(21). Almost tested its 23.6% retrace (1514.39). No daily 3LB changes (reversal is 1557.10). Holding above upper trend line. Must have the precious.
EURUSDBullish thrusting day. Midpoint below EMA(10). Tested and held its 76.4% retrace (1.4346). Still below SMA(21). No daily 3LB changes (reversal is 1.4833).
JNKDoji day. Midpoint above EMA(10). Still above SMA(21). No test of 0.0% retrace (40.93). Tested and failed its 14.6% retrace (40.73). No daily 3LB changes (reversal is 40.81).
10YR YIELDBearish long day. Still below all SMA's. Midpoint below EMA(10). Tested and held its 0.0% retrace (31.41). Still failing the upper trend line. New low on daily 3LB (reversal is 32.23).
WTIBullish long day (would say morning star but didn't get above mid of 1st day). Back above SMA(89). Midpoint below EMA(10). No test of 0.0% retrace (114.83). Tested and held its 50.0% retrace (101.54). No dally 3LB changes (reversal is 113.93).
SILVERBullish long day (completed morning star). Still above SMA(89). Midpoint below EMA(10). Held the upper trend line. Tested and held its 61.8% retrace (35.28). No daily 3LB changes (reversal is 42.59). ""You want delivery! You can't handle the delivery!"
TLTSpinning top day. Midpoint above EMA(10). Still above all SMA's. Held above its 14.6% retrace (94.76). No daily 3LB changes (reversal is 93.93).
WORLD WIDE PREMIERE JULY 1, 2011
11 comments:
CME hikes Brent, WTI, etc. http://www.scribd.com/doc/55045032/Chadv11-162#fullscreen:on
"Even with the Greece downgrade and Juncker's lying I can't cause any damage. What gives?"
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Liar Liar... Pants on Fire!
TOP 5 "LIAR LIAR PANT'S ON FIRE'S" (in CV's immediate recollection - in no particular order)...
1. http://www.youtube.com/watch?v=ca9UfDAgeFo&feature=related
2. A FEW GOOD MEN
Lt. Mccaffey (Tom Cruise): Let's go over the doctor again.
Lt. Cmdr. Galloway (Demi Moore): It's the right approach.
McCaffey: We've been over this already... At 4 a.m., he didn't know what killed Santiago...
Galloway: But after he met Jessep, he said
it was poison. He's lying.
McCaffey: Oh Great! Then we can use the "Liar, liar, pants on fire". defense... We can't prove coercion... Let's go over what we have...
3. BLONDIE
http://www.youtube.com/watch?v=xR6AAXVocLw
4. BUBBA
http://www.youtube.com/watch?v=JEJ3kzfiBkE
5. O
http://www.youtube.com/watch?v=nW_PWzhgvDs
Speaking of LIAR LIAR PANTS ON FIRE:
So About That Speculative, And Undisputed, Silver Bubble
http://www.zerohedge.com/article/so-about-speculative-and-undisputed-silver-bubble
So - For all of you who like to wag your fingers and toss out "Committment of Traders" charts to prove your bias... Well... as they say... charts don't lie...
"Yes: according to the CFTC, the level of non-speculative net longs in silver is, in the week ending May 3, at the lowest since July 28, 2009. So while one could speculate that silver may have been in some pseudo-bubble back in October 2010, when net specs hit over 50,000 contracts, the most recent reading of 23,354, which is merely the latest in a downward sloping trend starting in February, alas throws a lot of very cold water over the whole silver bubble popping thesis.
And yes, going forward we urge readers to always check with primary sources such flamboyant claims as those uttered every single day by the CNBC peanut gallery about record this and bubble that. Oddly enough, nobody on CNBC will ever mention that the one true bubble continues to be in stocks, where the net speculative leverage on the NYSE as expressed by surging margin debt total and declining positive investor net worth, is at the second lowest ever, meaning investors are more levered into the beta rally than just one time in history: the very peak of the credit/housing bubble in 2007!
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Of course what this all means is that anyone trading FIAT in speculative R2K & Dow futures has a far superior intellect than those PEONS 'accumulating' physical PM's or basic goods as a hedge to fiat debt destruction...
But don't let me distract you from your charts...
@cv.
The chart I presented yday suggests that silver will take out the previous highs and has another leg up coming eventually.
I know some big guys that have played college basketball and semi-pro leagues. I've had conversations with them about the difference between the mediocre players (themselves) and the guys who could go professional.
This one guy explained something to me that I had not thought of before...it went something like this:
"The really good players can recover from a game much faster than normal or average players. After I play a hard game of basketball (he's 6'7"), my knees and legs hurt...I'm exhausted for days. I don't know how some of those guys can play every other day. It's nuts."
Indeed...case in point: Rajon Rondo. That dude dislocated his elbow two days ago. And, he's playing tonight.
WTF?!?!
@Andy (8:51)
I saw that chart...
Look... I don't even know... But I'll say this for the BRAZILLIONTH time...
FIAT is dead... (not even TPTB wan't fiat anymore - They'd prefer to somehow usher in a "one world currency" standard [whereby ALL PREVIOUS DEBT would get re-valued on a ratio basis])...
THAT is the bull they're riding (and from my account, they're only about 1-2 seconds into that ride, thinking they're in control)...
But think about it... If you start to ALIGN YOUR HEAD with the idea that CB's ACTUALLY WANT TO DESTROT FIAT at this juncture, then you'll make the right moves...
They'll print to infinity because in that game, over enough time, they can print themselves enough 1's & 0's to take all the physical precious off the market...
They already OWN your land (that you're negative equity on)...
It's a RUSE that's being played out that CB's would be devastated by high precious metals prices... These PAPER SHORTS, are only a ploy to get their hands on the low hanging fruit (which is granny's tea set)...
When the SHEEPS finally figure out it's a ruse, getting their paws on PHYSICAL won't be so easy anymore...
That's the horserace at the moment...
DEFLATIONISTS aren't WRONG... They're just wrong about the ORDER in which it will occur...
In a debt laden society, it's easier to KEEP PLAYING THE GAME... We're just now entering the "no-doc loan" phase of soverign debt... It's an excuse to turn on the printing press full bore (and use the added liquidity to accumulate the precious for the eventual day that the reset button is hit)...
As for fiat???
SELL NOW OR BE "PRICED IN" FOREVER...
This one guy explained something to me that I had not thought of before...it went something like this:
"The really good players can recover from a game much faster than normal or average players. After I play a hard game of basketball (he's 6'7"), my knees and legs hurt...I'm exhausted for days. I don't know how some of those guys can play every other day. It's nuts."
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I don't doubt that at all...
I've taught group fitness for 30 years now...
It's ALL ABOUT how you recover...
In the past, I could go ALL OUT for 15-20 classes a week (2-3 a day), with no ill effects...
I still have the same performance (in one all out effort now)... But it wipes me out... I need painkillers sometimes to get thru 5-6 classes a week all out...
I remember walking by David Carr, the Houston QB who got beat like a RagDoll every Sunday, in the Mall on a Monday afternoon after a game...it was right before Xmas. The guy was walking like an 80 yr old man...you can tell he was sore as shit.
I "almost" felt bad for him....
Boston is dead in the water.
The key takeaway from the playoffs is that you have to inject some youth into these older teams sometimes.
The Lakers and Celtics both looked "old" and slow out there.
They are hard checking Durant on every play.
andy -
david carr walking like phil elliot
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