A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: Tick tock. Tick tock. June 30th approaches. I shall not be moved.
SPXBullish long day. Midpoint above EMA(10). Tested and held SMA(144). Failing trend line (3/6/09-7/1/10). Held the 61.8% retrace (1295.47). New high on daily 3LB (reversal is 1279.56). QE2infinity.
DXYBearish long day. Midpoint below EMA(10). No test of 0.0% retrace (72.70). Tested and failed SMA(233). Failed its 23.6% retrace (74.73). Held its weekly 3LB mid. No daily 3LB changes (reversal is 73.78).
VIXBearish long day. Midpoint below EMA(10). Below all SMA's. Failing its 23.6% retrace (18.28). Daily 3LB reversal down (reversal is 22.73). Extradited back to the "no fear" zone.
GOLDBullish short day. Midpoint below EMA(10). No test of 0.0% retrace (1578.30). Failing SMA(55). Failing its 23.6% retrace (1515.29). No daily 3LB changes (reversal is 1557.30). Holding above upper trend line. Must have the precious.
EURCHFBullish long day. Midpoint below EMA(10). No test of 0.0% retrace (1.1781). No daily 3LB changes (reversal is 1.1887).
JNKBullish long day. Midpoint above EMA(10). Back above SMA(21). No test of 0.0% retrace (38.59). Tested and held its 50.0% retrace (39.76). Failing trend line (2/5/10-2/12/10). Daily 3LB reversal up (reversal is 38.78).
10YR YIELDSpinning top day. Holding SMA(21). Midpoint above EMA(10). No test of 0.0% retrace (28.47). Back above the upper trend line. Daily 3LB reversal up (reversal is 28.71). Above weekly 3LB reversal price.
WTISpinning top day. Failing all SMA's. Midpoint above EMA(10). No test of 0.0% retrace (114.83). Held its 85.4% retrace (93.07) but failed the test of the 76.4% retrace (95.46). No dally 3LB changes (reversal is 95.22).
SILVERBullish long day. Tested and held SMA(144). Midpoint below EMA(10). Still below the upper trend line. Failing its 61.8% retrace (35.28). No daily 3LB changes (reversal is 37.86). "You want delivery! You can't handle the delivery!"
BKXBullish long day. Midpoint above EMA(10). Back above SMA(21). Holding its 76.4% retrace (47.07). Daily 3LB reversal up (reversal is 46.32).
HYG/LQDBullish long day. No test of 0.0% retrace (0.7899). Tested and held SMA(233). Midpoint above EMA(10). Tested and held its 50.0% retrace (0.8220). New high on daily 3LB (reversal is 0.8055).
WORLD WIDE PREMIERE JULY 1, 2011
14 comments:
sp500 just launched through that 1295 resistance point....like a hot knife through butter.
We'll probably get a chance to sell 1340's in the next several days. Whoopeee....
The curve sure changed shape this week. What a move!
Equities lit up like a Molotov cocktail in Greece.
There are a lot of constructive charts, now. It's hard to tell if the squeeze will be short lived and provide nice short entries.
All or nothing paint the tape moves. Go to cash above 1300. Wait until Aug/Sept and look for deals. Moves like this scream of desperation and/or absolute fear.
I like the idea of letting out very small, very short term oriented shorts in gold and silver....
1525-1533 would be a decent zone in gold to take a shot i think.
35 - 35.50 on the silver as i discussed on the Sunday night comments.
I like trades where I know I'm wrong very quickly.
Today close was 38.92 over Fridays close. Or if viewed in this way 38.20 + 0.7070 + .021 over the close. I know it's a stretch LMAO.
@Andy T (9;28)
Why not just do what CV said 2 months ago...
ARBITRAGE out... Go long gold & short silver for the next 12 months...
Jeez Louise!
This ain't rocket science...
speaking of rocket science....
Pretty genius TED discussion in re: Math.
http://www.ted.com/talks/lang/eng/conrad_wolfram_teaching_kids_real_math_with_computers.html
As a father that had to tutor/teach Alegbra to his 8th grade daughter....I can strongly get behind these ideas.
Math is NOT calucation....but, I can tell you that's the way it's taught...and it's the thing that kids struggle with...we WASTED Sooooo much time this year doing "calculations" of problems and not really learning anything.
The guy in the video NAILS it.
cv. Yeah. The silver chart has been looking "hairier" than the gold chart for a few months now....too much 'retail' in the silver market into the peak. that's for shiz.
I found out i was "picked" to run the Houston Marathon in Jan. The event is so oversubscribed that they hold a lottery....
I'm about 30lbs overweight right now...so training for a 26.2 mile run should be a good diet/exercise plan. Last time I did this, I shed a ton of lbs...
Long distance running ain't great for the joints, but finishing that run is one of the more emotionally fantastic experiences I've ever had.
Can't wait.
Saw a poll today that said Michelle Bachmann ad 69% name recognition...
Two days ago I laid 100:1 against her winning the 2012 presidency. If she wins I'm out $1,000.
Seeing that stat today made me a little nervous...
Love the bet, though...
I laid 15:1 against Rick Perry (if he enters the race).
You aren't going to lose any money. Obama is going to win the 2012 election.
I have already bet three people dinner on this certainty.
If you want to get free meals for life, just go into farm country in a "red state." Those farmers are totally convinced that everyone is fed up with Obama.
@Matthew
"Those farmers are totally convinced that everyone is fed up with Obama"
The farmers are right... Everyone IS fed up with Obama (except Paul Krugman & Barry Ritholtz)...
...and - Obama IS going to win in 2012 (that is - assuming he stays clear of book repositories and theatre shows)...
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