A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: It's my job to make you nervous holding over the weekend.
SPXBearish engulfing day. Midpoint below EMA(10). Closed below SMA(21). No test of 0.0% retrace (1370.58). Tested and failed the 23.6% (1341.90). No daily 3LB changes (reversal is 1363.61). QE2infinity. "JBTFD. Any questions?"
DXYBullish long day. Midpoint above EMA(10). No test of 0.0% retrace (72.70). Closed above SMA(55). New high on daily 3LB (reversal is 74.19). Also had a weekly 3LB reversal up.
VIXBullish piercing day. Midpoint below EMA(10). Back above SMA(21). Held its 14.6% retrace (16.75). No daily 3LB changes (reversal is 18.40). Still in the "no fear" zone.
GOLDBearish short day. Midpoint below EMA(10). No test of 0.0% retrace (1577.40). Failed to hold SMA(21). No daily 3LB changes (reversal is 1557.10). Holding above upper trend line. Must have the precious.
EURUSDBearish long day. Midpoint below EMA(10). Tested and failed SMA(55). New low on daily 3LB (reversal is 1.4508).
JNKBearish long day. Midpoint above EMA(10). Closed below 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 YIELDHammer day. Still below all SMA's. Midpoint below EMA(10). Holding above its 0.0% retrace (31.41). Back below the upper trend line. No daily 3LB changes (reversal is 31.42).
WTISpinning top day. Held SMA(144). Midpoint below EMA(10). No test of 0.0% retrace (114.83). Tested and held its 61.8% retrace (98.41). No dally 3LB changes (reversal is 113.93).
SILVERSpinning top day. Held SMA(89). Midpoint below EMA(10). Failed the upper trend line. Tested and failed its 61.8% retrace (35.28). No daily 3LB changes (reversal is 39.39). ""You want delivery! You can't handle the delivery!"
BKXBearish long day. Midpoint below EMA(10). Below all SMA's. Tested and failed its 50.0% retrace (50.11). Daily 3LB reversal down (reversal is 51.81).
WORLD WIDE PREMIERE JULY 1, 2011
26 comments:
Hope everyone had a good week. Will be working on the SP500 and Dollar this weekend.
But, tonight I'll be hanging with the "Redneck Bourgeoisie" at the Mets/Astros game.
I'll find out the latest game plan as to how Corporate America will keep ramming it to the Sheeple.
Will let you know what I found out....
Row 1 Behind Home Plate...... Winning!
Andy T
Enjoy the game. I'm waiting to see what news gets released late tonight...
>> I'll find out the latest game plan as to how Corporate America will keep ramming it to the Sheeple.
It's okay to "find out". It's okay to even "participate", because if you don't someone else will. But, at least "keep it real" when discussing the fact that our centrally-managed "goverbiz" really is screwing the Sheeple, in the hope that giving people the truth will encourage them to vote smarter or something...
The government operated for months without a budget. Why wouldn't this same organization issue more debt than technically allowed by some arbitrary political line in the sand? Increasingly, it seems laws and rules are made to be broken. "Power" does what it wants.
Damn the Astros suck. That team knows how to lose games for sure.
They're up 4-0 after six....4-1 after 7 innings. The pitch, Bud Norris (?!?), did a pretty good job. He was solid.
But, because they've got no relievers at all they have to leave Norris out there for another inning....
Then, all hell breaks loose. Astros lose 6-4.
Not Winning!
~~~~~~~~~~~~~~~~~~
Hell yeah, Memphis Grizzlies!
"But, at least "keep it real" when discussing the fact that our centrally-managed "goverbiz" really is screwing the Sheeple...."
Here's a question for you Wunsacon. And, I'm being quite honest in wanting an answer. Can you name a time period in our American history when the "goverbiz" wasn't screwing the Sheeple?
http://www.businessinsider.com/facebook-google-lies-2011-5
Nice story there about Jim Goldman. Now we know for certain that some folks at CNBC were/are PR Tools with agendas. Nice.
>> Can you name a time period in our American history when the "goverbiz" wasn't screwing the Sheeple?
There's never been a time when the goverbiz wasn't screwing the people at all. But, there seems to be differences in degree.
Contrast Obama with FDR. Although he made mistakes (recognizable in hindsight), FDR:
- Tried to make sure people had work and largely succeeded.
- Passed legislation that created firewalls within the financial system, that protected us somewhat from booms/busts and *excessive* corruption, for 40-50 years (until it was undone piece by piece over the next 20 or so years).
- Instead of naming insiders to every post, named, for instance, a well-educated/elite farmer/neighbor to head Treasury. (I disagreed with but was a tad sympathetic to W's consideration of Harriet Meiers.) We need outsiders in government. Cut down on the revolving door and the chumminess between "regulator" and "regulated".
Contrast FDR's response or even Bill Black's successful administration of the S&L crisis versus what's going on today. The crimes are bigger and the penalties are smaller.
How about tax rates? People who are rich enough to live off their capital pay lower tax rates than the average laborer.
How about wealth concentration?
How about predatory lending turning home-owers and students into the modern version of "sharecroppers"?
Well, those are a few easy hits...
Judging by what I see/read, I think the country's leadership has gotten worse over the past 30 years. Not stayed the same. Not gotten better. Gotten worse.
Not persuaded by what you see, Andy?
Andy, so your Astros experience was like this?
http://www.youtube.com/watch?v=pnwOzeWX3E8
Good nite, Andy, all..
Okay, two more points.
First, from Yves Smith's Naked Capitalism:
The People vv. Goldman Sachs Matt Taibbi, Rolling Stone. Key quote: In 1995, according to an independent study, banking regulators filed 1,837 referrals. During the height of the financial crisis, between 2007 and 2010, they averaged just 72 a year.
Second, we used to have a working system of recording mortgages and property rights in this country. Maybe we inherited it from the British and it'd been with us for 200+ years. And now?? Now, it's confusing to figure out who-owns-what, as minimum-wage clerical workers with "VP" titles concurrently from multiple banks robo-sign loan documents in an assembly line lacking any kind of quality control.
It seems like the whole system is breaking down.
@wunsa 1.22am
Family Guy is so good. That was hilarious.
Just combed through BI's list of 10 richest people in the world:
http://www.businessinsider.com/richest-people-in-the-world-2011-3#10-christy-walton-1
What's noteworthy to me is that most of that list are people who are self-made, came from humble beginnings and a few didn't even graduate from college (Ellison/Gates).
You have to give global capitalism the nod there....
The same list a few hundred years ago would have contained mostly Royalty.
YTD Percent Change
Seems YTD SPX outperforming Gold... by an inch...
Spending a couple days in Santa Cruz, CA. No shortage of tourists here. I'd say the motels are 70-80% full and at $120/Friday and $160/Saturday rates where I'm staying, when the summer season gets going, seems many peeps will still be spending. Oh, unleaded is $4.25 here. Had to drive over the Golden Gate Bridge ($6 toll) through SF to get here, what a freak'n mess, about 2 hours to get through and out of SF area. How can peeps live like this?
About the leadership in this country, agree... it has gotten worse over the decades. Is their going to be a U.S. (as we know it now) in another few decades?
http://www.reuters.com/article/2011/05/13/us-usa-stocks-weekahead-idUSTRE74C76320110513?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28News+%2F+US+%2F+Business+News%29
A storm gathers over equities markets
Is their going to be a U.S. (as we know it now) in another few decades?
Sure there will...
There will be clean renewable energy for everyone... No more wars (only 'laser tag' where both sides go to Chuck E. Cheese after the fight and the bill paid for by the Gates Foundation)...
Everyone will be gay, and the only jobs needed will be politicians, and schoolteachers , because everyone knows that all you have to do is THINK about stuff and it gets called into existence... The schools themselves will indoctrinate the LIBERAL thought ideals (the first one of which is NO DISSENTING OPINIONS ON MY BLOG)...
Global Warming will have ceased due to high paying tech jobs, and there will even be apps on your IPhone that allow you to "climate control" your space (like those cars that you can program to 70 degrees on one side, and 70.8 degrees on the other side because that extra .08 degrees takes you out of your comfort zone)...
Your team will always win the Superbowl because #LOSING anything will be banned...
Barack Obama will, STILL, be President of the United States... Ellen DeGeneres will be VP... Oprah Winfrey will be the CZAR of entertainment (but that will be AFTER the "OWN" using taxpayer money, and "monetized" by the Galactic Reserve [which used to be the Federal Reserve] has purchased "The VIEW")... It will be the only channel anyone needs to watch (pre-empted only by speeches from the teleprompter in chief himsself)...
400 more years!
cv@8.36
Classic.
"Everyone will be gay."
qqqq:
Have fun in Santa Cruz. One of my best friends lives there still.
Gas is more expensive in California cuz' it's 'special' California Air Resource Board mandated gasoline which is not fungible with the rest the World. They got it all figure out over there...
>> No more wars (only 'laser tag' where both sides go to Chuck E. Cheese after the fight and the bill paid for by the Gates Foundation)...
On the one hand, I think: If it's still going to be "red" team vs "blue" team, I say just nuke the goddamn planet (like in the end of that reaaally bad installment of Planet of the Apes)! ;-)
On the other hand, laser tag? Cool!
Andy, in defense of Kalifornia... I don't know whether their gas formulation is optimal. But, for all other variables being equal, warmer climate leads to more ozone production and/or other pollution. That's why you'll notice two things about California's eco and eco laws:
- They're more stringent. (This is local gov doing what it should.)
- Despite the extra effort, because of the climate they still have more air pollution than most other states.
http://www.bloomberg.com/news/2011-05-15/obama-says-debt-default-may-unravel-global-financial-system.html
Obama Says U.S. Default May ‘Unravel’ Global Finances
http://www.bloomberg.com/news/2011-05-14/damage-from-defaulting-on-debt-would-be-irrevocable-geithner-tells-bennet.html
Geithner Says Default Damage May Be ‘Irrevocable’
Fear mongering in full force over the weekend.
I forget: in case of deflation, are we supposed to "starve the people"? Or is that in case of flu?
Meh, I screwed that one up... How 'bout:
I forget: in case of deflation, are we supposed to "starve the people" with monetary policy? Or is that in case of flu?
Ech, still a little weak... Alright, off to chores.
http://finance.fortune.cnn.com/2011/05/10/gross-boosts-wrong-way-bet-on-a-bond-crash/
Gross boosts wrong-way bet on a bond crash
http://online.wsj.com/article/SB10001424052748703864204576317612323790964.html
What If the U.S. Treasury Defaults?
Stanley Druckenmiller on US Bonds
NEW POST UP
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