A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
"No comments at this time. My family and I would like to be left alone."
Creditcane™: The force is strong with the algos.
SPXBullish long day (setup for falling three method?). Midpoint below EMA(10). Failing SMA(144). Failing trend line (3/6/09-7/1/10). Held the 76.4% retrace (1277.73). No daily 3LB changes (reversal is 1288.00). QE2infinity.
DXYSpinning top day. Midpoint above EMA(10). No test of 0.0% retrace (72.70). Tested and failed SMA(89). Failing its 38.2% retrace (75.99). Held its weekly 3LB mid. No daily 3LB changes (reversal is 73.78).
VIXBearish engulfing day (blame it on the algos aka no volume). Midpoint above EMA(10). Still above all SMA's. Tested and failed its 38.2% retrace (20.77). No daily 3LB changes (reversal is 18.26). Finally escaped the "no fear" zone.
GOLDDoji day. Midpoint above EMA(10). No test of 0.0% retrace (1578.30). Held SMA(21). Held its 14.6% retrace (1539.32). No daily 3LB changes (reversal is 1557.30). Holding above upper trend line. Must have the precious.
EURUSDSpinning top day (didn't confirm morning star). Midpoint below EMA(10). Tested and held SMA(89). Failing its 76.4% retrace (1.4304). No daily 3LB changes (reversal is 1.4580).
JNKBullish long day (confirmed bullish harami). Midpoint below EMA(10). Failing all SMA's. No test of 0.0% retrace (38.59). Tested and held its 38.2% retrace (39.48). Failing trend line (2/5/10-2/12/10). No daily 3LB changes (reversal is 39.88).
10YR YIELDBullish long day. Failing all SMA's. Midpoint below EMA(10). No test of 0.0% retrace (28.93). Still below the upper trend line. No daily 3LB changes (reversal is 30.99).
WTIHammer day. Failing SMA(233). Midpoint below EMA(10). No test of 0.0% retrace (114.83). Tested and held its 85.4% retrace (93.07). No dally 3LB changes (reversal is 97.84).
SILVERDoji day. Failing SMA(89), SMA(55) & SMA(21). Midpoint above EMA(10). Still below the upper trend line. Held its 61.8% retrace (35.28). No daily 3LB changes (reversal is 38.30). "You want delivery! You can't handle the delivery!"
BKXSpinning top day (also bearish harami). Midpoint at EMA(10). Failing all SMA's. Tested and held its 76.4% retrace (47.07). No daily 3LB changes (reversal is 47.69).
HYG/LQDBullish long day. No test of 0.0% retrace (0.7899). Below all SMA's. Midpoint below EMA(10). No daily 3LB changes (reversal is 0.8092).
WORLD WIDE PREMIERE JULY 1, 2011
17 comments:
"The force is strong with the algos..."
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"The force is strong with the e-trade babies & TD Ameritrade "pattern recognition software" firing off the trade...
There... fixed it... :-)
See - look at this dude right here for example...
I'm guessing he's been utilizing the "PRACTICE TRADING" platform to hone his technique, & has it down to a science by now...
http://www.youtube.com/watch?v=15p6sp3jVj8&feature=related
With a bunch of DARK POOL SHARKS like that out there, I guess one has to be nimble (&, of course, come to EXPECT days like today)...
In any case...
It's a DOG eat DOG world out there... So don't come to a gunfight with a pocket knife...
& if you're a 'chick'... Don't come to the stadium if some Barry Ritholtz lookin' dude is sitting right behind you while you thought you had it made in your cozy dugout seat...
http://961thebull.com/fan-wrestles-woman-for-a-baseball/
Oh man.
What a douche bag ... ripping the ball out of the lady's hand... the keeps it!
He should get pummeled for that...
Today's QOTD is courtesy of Mark Hoffer....just another AAIP.
A friend e-mailed me this today:
"Barry closed his shorts down
this is apparently in the minds of many a big event, because he's "the man"
you know, 90% long on 4/29 he was
then he was "short" on 6/7
then on 6/14 he was looking for a "pop and drop" 7 day rally and more downside
on 6/20 he's "out of shorts"
whipishaw son!"
~~~~~~~~~~~~~~~~~~~~~
It just goes to show you even the 'best and brightest' (just ask him, he'll tell you) can get whipped around in the churn of the "market."
@ben (from other thread)
As I'm to understand the IRS tax code the tax ramifications of selling physical gold aren't too different from that of NFLX common stock, in fact, they are worse
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I'm not going to argue you 'tit for tat' on that one (because it would waste BOTH our times in the end)...
PAUSE HERE...
Peeps - (readers of this blog)... I'll say this again... I HOPE (well - I don't HOPE - but I don't mind if) y'all think I'm totally bonkers...
I'm just trying to provide a different voice here...
& TO BE SURE... I'm not doing it in a METHOD to be diametrically opposed to BEN... I'll say it again here... When I first started blogging on this stuff (it was spring of '09 - on Ritzy's blog)... The most coherent & intelligent bloggers, bar none, in that space (who inspired me to toss my hat into the ring were BEN & ANDY T)...
AMEN RA came shortly thereafter (not by deeds - but simply by chronology - as I remember 'embarrasingly' asking Amen Ra (on a quiet weekend summer on Ritzy's blog, WTF a '3LB' was - Amen Ra, quietly endulged me with a personal reply [I oughta pull up that sparse weekend post sometime - just for fun... IT EXISTS - unlike my 'non existent farm')...
I gotta say this as well... I've always really enjoyed a number of other regulars...
karen, LB, I-Man, Q's, Bruce, ahab, & MEH (MEH - "you, my man" get the CREDIT here like that comes in the movie when they roll the opening credits, then there's a pause, then AL PACINO's name comes up all by itself)... Your 'special' quality MEH... is that you have 'COUTH' (unlike CV)... I unfortunately CAN'T have 'couth'... My passions & emotions run too hot to make it possible...
Anyway... I want to go back to BEN for a moment... What's special about BEN is that he's not only willing to FIGHT... But that he comes PREPARED for the fight (rare)...
If I'm going to WAR... I (CV), want a MF like that on my team... Naturally, one 'should' want a person like CV on their team as well (assuming I was capable of bringing something USEFUL to the table as well)... OTOH... sometimes a 'wild card' like CV could be considered a liability...
Nobody is battling for supremacy here... I think we're just laying the raw goods on the table...
For me... I'm really glad Andy T & Amen Ra are back in charge of this blog... If it were an army... I'm not 'naturally' the GENERAL type... I do better in the trenches commanding a tank or infantry unit... COLONEL would be my preferred rank...
In summary... READERS... Keep all that stuff in mind from time to time (especially on NON NEWS days like today in the middle of summer when the Barry Ritholtz's of the world are thinking more about Hampton's yacht parties than they really care about the junior varsity squad playing scrimmage games against the e-trade babies)...
@Andy (8:18)
I swear... That dude who wrestled the ball out of that chick's hand 'looked' like BR...
watch it again...
Of course we all know that BR would never do something like that... Hell - He's probably too busy to even attend a baseball game between dusting off his CD jazz collection, yacht shopping, writing corn fed OP-Ed's for WaPo, and trying to get himself on the 'guest list' to Gatsby's party in East Egg...
CV,
thanks
really the tax stuff on physical gold is no shocker, just another way to discourage people from getting move involved
these government guys got it all figured out
NOT!
while I may not agree on the middle road to there, the dollar is going down eventually, one way or the other.
Well... This is LATER than the exact weekend that I hooked up with Amen Ra... But it just goes to show you...
Cv was clearly interested (perhaps one of the ORIGINAL ones - of the company we all keep here), in AMEN RA's 'unique analysis'...
http://www.ritholtz.com/blog/2009/08/history-repeats/
@FWIW
'Thor & CV' didn't always battle it out either...
http://www.ritholtz.com/blog/2009/07/foreclosures-are-highly-regional/#comment-196123
@ben (8:54)
You said many 'seemingly different' things PERFECTLY there...
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I gotta admit... This SH** is TOUGH DUDE...
& I'll be the first to admit... CV has it 1000x EASIER than you (because I have ONLY MYSELF to position for what I imagine to be coming down the road)...
PEEPS... Fooking LISTEN TO ME... BEN... Has it 10,ooo^5 more difficult than anyone of you could possibly imagine...
How & Why?... Because he is HONEST & has a CONSCIENCE... & he's really trying to... not only manage for himself & his wife... But ALSO, for an array of personal clients that, most likely, have little clue as to how far down the rabbit hole goes...
EVERY SINGLE FOOKING DAY... He puts on his best face, & tries to QUANTIFY (to the best of his soundness & conscience), what's in the best interests of all of the above... To an audience of 'jackasses' (not INSULTING your clients there ben, just giving a real world example of the likely level of proficiency the average person might have - myself included)...
& the PLAYING FIELD that he (ben) must deal with is, most likely, full of crooks & liars... WHICH MEANS... There's nothing a stalwart like that can do except FIGHT & ACT on his honor...
IT REQUIRES MORE DISCIPLINE than most of the rest of you (or me), face in our entire lives...
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So please (ALL)... Again... Try & understand what BEN & CV 'toss across the blogs' every day...
We're all on the same team here... (despite what it mat 'read' like from time to time)...
Meahwhile... (on the 'biz' front)...
http://www.zerohedge.com/article/cme-cuts-treasury-futures-margins-30-under-three-weeks-despite-20-jump-volatility
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The coast is now clear to pile your 'scared asses' into UST's (now that the equity charts suddenly look shaky)...
If you're NOT a 'Rothschilds', Dimon, Blankfein, or Rockefeller FAMILY MEMBER... I'd also suggest that you exit your silver/gold PAPER trade...
Meanwhile... If you ARE a Dimon, Rothschilds, Rockefeller, or Blankfein family member... Well - you already probably know that your coin & bar dealer in Gstaad will be confiscating granny's tea set for ther rest of the summer & melting it down into .999 pure (they'll toss G-Pap a bone on the Cu portion of that - being all humanitarian and all)...
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This trade oughta be FUN... Why? Because it mostly will be unable to correlate (until Feb 2013 - that is)...
Daneric will be RIGHT ON TOP OF IT at that moment...
Greece will vote "confidence" just to make sure they get the next tranche. But they won't enact any austerity measures. When the next tranche distribution date comes around they'll claim ignorance and say they'll enact austerity measures for sure this time.
Almost forgot to mention this one a few days ago...
Houston gets more high priced talent floating its way....
Goldman Sachs opening up shop in this little town:
http://www.businessinsider.com/meet-the-two-superstar-traders-that-goldman-is-sending-to-houston-for-its-new-commodities-office-2011-6
I know a few of the guys who will be working in this shop.
Good read: Third Quarter 2011 GTAA Fixed Income
h/t zerohedge
BinT
Update on SHIBOR: http://www.zerohedge.com/article/china-conducts-emergency-reverse-repos-inject-money-market-liquidity
...or the PBoC performed some reverse repos to add liquidity to a couple of their banks.
S&P and Fitch both are saying that any type of debt rollover or restructuring for Greece is a default.
Troika: tag you're it.
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