A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
"How many times do I have to tell you that this is MY HOUSE!"
Creditcane™: Tick tock. Tick tock. June 30th has arrived. Let the games begin.
SPXBullish long day. Midpoint above EMA(10). Tested and held SMA(55) & SMA(89). Failing trend line (3/6/09-7/1/10). Held the 61.8% retrace (1295.47). New high on daily 3LB (reversal is 1295.52). QE2infinity.
DXYSpinning top day (morning star forming?). Midpoint below EMA(10). No test of 0.0% retrace (72.70). Below all SMA's. Failing its 23.6% retrace (74.73). Tested and held its weekly 3LB mid. No daily 3LB changes (reversal is 73.78).
VIXBearish short day (morning star forming?). Midpoint below EMA(10). Below all SMA's. Tested and failed its 14.6% retrace (16.75). New low on daily 3LB (reversal is 22.73). Extradited back to the "no fear" zone.
GOLDBearish long day (wrong place for bearish engulfing?). 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 above EMA(10). No test of 0.0% retrace (1.1781). Daily 3LB reversal up (reversal is 1.1844).
JNKBullish long day. Midpoint above EMA(10). Back above SMA(233). No test of 0.0% retrace (38.59). Tested and held its 61.8% retrace (40.04). Held trend line (2/5/10-2/12/10). New high on daily 3LB (reversal is 38.78).
10YR YIELDBullish long day. Tested and held SMA(55). Midpoint above EMA(10). No test of 0.0% retrace (28.47). Back above the upper trend line. New high on daily 3LB (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).
SILVERSpinning top 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 37.88). "You want delivery! You can't handle the delivery!"
BKXSpinning top day (evening star forming or just resting?). Midpoint above EMA(10). Holding above SMA(21). Holding its 76.4% retrace (47.07). New high on daily 3LB (reversal is 46.32).
HYG/LQDBullish long day. No test of 0.0% retrace (0.7899). Tested and held SMA(55). Midpoint above EMA(10). Tested and held its 61.8% retrace (0.8296). New high on daily 3LB (reversal is 0.8111).
RBOB GasolineBullish short day. Midpoint above EMA(10). Held SMA(89). No test of 0.0% retrace (2.67). Tested and held its 38.2% retrace (2.92). New high on daily 3LB (reversal is 2.71).
WORLD WIDE PREMIERE JULY 1, 2011
15 comments:
@ben
I'm sure the Hugh Hendry comments are recorded somewhere... But where I used to hear it was on CNBC Europe (where he was often a studio guest on Morning Squawk back about a decade ago while he was still with Odey)... I was living in Europe at the time...
So you'd have to dig it up... I'm not making this stuff up...
MSNBC suspends Mark Halperin for Obama remark
http://news.yahoo.com/blogs/cutline/msnbc-suspends-mark-halperin-obama-remark-145819640.html
---
In similar news:
Jeff Spicoli gets sent to the principal's office for Mr. Hand remark...
http://www.youtube.com/watch?v=n9huSs0g67c
CV @5:33
A good example of the right comment made on the wrong network.
http://www.zerohedge.com/article/fed-halts-sales-toxic-aig-sludge-upon-realization-any-balance-sheet-unwind-crashes-market
Fed Halts Sales Of Toxic AIG Sludge Upon Realization Any Balance Sheet Unwind Crashes The Market
Three weeks ago, when discussing the failed (yes, failed) Maiden Lane 2 auction by the New York Fed, we said: 'Something quite disturbing happened during today's latest attempt by the Fed to sell $3.8 billion in face amount of Maiden Lane 2 assets: it had a busted dutch auction. In fact, the auction was so massively busted, the New York Fed managed to sell only half of the bonds for sale, or $1.898 billion in 36 Cusips of the total 73 Cusips offered for sale." Subsequently we noted the sudden radiosilence from the Fed on this issue on Twitter. To be sure, every MBS trader and the kitchen sink promptly complained that the Fed was saturating the market with toxic AIG garbage, which prompted us to declare that: "unless someone opens up a release valve, we are about to see a massive regurgitation and even more massive repricing of credit risk, first in IG, then in HY and ABX/CMBX, and lastly, and most massively, in equities, which continue to exist in their own world and which are now totally disconnected with HY, which they used to track so very closely." We just got the release valve: from Bloomberg: "The Federal Reserve Bank of New York is halting its sales of mortgage bonds acquired in the rescue of American International Group Inc. "Given prevailing market conditions” for residential mortgage-backed securities, “we do not anticipate any sales of bonds in the near term or until such time as the New York Fed deems it will achieve value for the public," Jack Gutt, a New York Fed spokesman said in an e-mail." Uh, what prevailing market conditions: a Nasdaq which has ripped over 100 points in one week (granted on no volume and on unprecedented market manipulation but so what). Regardless, this is a huge slap in the face for the Fed, which has just proven that even in a surging market it can not unwind an amount from its book that is less than 1% of its total asset holdings without actually crashing the market.
h/t zerohedge
I pick #6, or maybe #3, well, could be #4 also
Slang Dictionary
dick definition
1.n.
a detective; a police officer. (Underworld. From detective.) : Marlowe is a private dick who has to keep one step ahead of the cops.
2.n.
the penis. (Usually objectionable. Currently the most publicly used word for this organ.) : She told some dirty joke about a dick, but everybody just sat there and looked straight ahead.
3.n.
a stupid person, usually a male. (Rude and derogatory.) : What stupid dick put this thing here in the way?
4.n.
nothing. (Usually objectionable.) : The whole idea isn't worth dick.
5.tv. & in.
to copulate [with] a woman. (Usually objectionable.) : If you think I'm going out with a guy who only wants to get me dicked, you're crazy.
6.tv.
to cheat or deceive someone. (Usually objectionable. See also fuck, hose, screw.) : That salesman dicked me for ten extra bucks.
CV,
Oh I believe you, I tried to find a paper or something today doing some goog search but only for a few minutes and didn't come up with it, there are 5 brazillion hugh hendry links online of course
I find the idea pretty interesting so just wanted to read more about it
@ben
I'd always thought it was an interesting theory as well... Kinda makes sense (if one thinks that it ought to be relatively easy to move thin markets [like PM's, or commodity space], when "one side of the pond" is closed/distracted...
I heard him mention it more than one time as I recall... Then, I started casually watching it over the years and it seemed to have a fairly decent correlation...
One has to "think" from NOT just an American POV...
For example... CV hinted very strongly that the MAY 1 holiday weekend (not a holiday HERE, but a holiday in most of Europe), something would happen... Of course, it was all due to Obama though (justifying his Peace Prize by killing Obama)...
Got to think in terms of all holiday weekends that AREN'T shared... Like:
President's Day - only important here
May 1st (Labor Day Europe)
Memorial Day - only important here
July 4th - only important here
July 14th - important in France
August 15th - important throughout Europe
Labor Day - only important here
The Yom Kippur-Rosh Hashana interlude - important for jewish (but of course I'm "anti-semitic" for saying that - sorry)
November 1st - is important in many catholic countries
Thanksgiving - only important here
December 8th - important in many Catholic countries
Stuff like new Years, easter, & christmas are universal (I'm NOT "anti-semitic" for pointing out that Christmas, is, in fact, a holiday)...
---
In any case... It's just one more way of looking at things... For example... let's say there's a triangle or a wedge (in some PM)... You may interestingly note that the wedge often points to a conclusion on those holiday...
or - if a triangle breakout (or breakdown) occurs prior to the holiday... It turns out to be false and comes reeling back...
Bottom line... I don't like to be "positioned" for short term trading... It's often best to take market direction based on what happens a few days AFTER the dust settles...
What's wrong with saying the President was acting like a "dick."
His press conference was hackish in a dickish sort of way.
It is what it is...
@Amen (6:16)
Well if the "dutch auction" didn't work out... They could always resort to the trusty ol DUTCH OVEN...
http://www.urbandictionary.com/define.php?term=dutch%20oven
@Andy (7:57)
better get used to it... Now that the teleprompter has used up all the political capital he might have ever even HOPEd to have...
All the rest, going into 2012, is going to be subtle variations of this:
http://www.bing.com/images/search?q=race+card&view=detail&id=D024193138B5B13FC86AD6ED460AC18B235AF043&first=0&FORM=IDFRIR
---
Cv predicted this in 2008 (pre-election)... That, in the end, this man would prove to DIVIDE us rather than UNITE anything...
Jury is still out, but my prediction is looking correct thus far...
More brilliant ideas...
http://finance.yahoo.com/loans/article/113040/more-money-for-struggling-homeowners-smartmoney?mod=series-m-article-b
@cv 8:18, so I'm saving to pay cash for a house when I'm ready, and these irresponsible peeps may get up to $50,000? That just blows! I should start a website that will pay anyone $100 towards their house or rent payment that can prove they voted for someone other than obama the dick, (#6 on the list, he's dicking me for another $10 of my tax money). Other candidates would probably fund me.
ROR, CV.
I have to dig through a long list of fucked up ideas that have come from the Feds in order to find something that stupid. It reminds me of when Peter Schiff was bashing the Bush tax credit (you know, the one where they just mailed everyone a check) and he said, "Why not give everyone a million dollars?"
They have a basic formula for every problem.
Step 1. Identify Problem
Step 2. Give money to someone (Don't even think about appropriating the money efficiently or in an economically sensible way; just give it to SOMEONE and hope it shows up positively in one of the doctored economic releases)
Step 3. Hope [and change]
Let's look at an example:
Step 1. People are not wasting enough money on cars to give the impression that the economy is better than it really is
Step 2. Offer to buy cars for more than they are worth (and then fucking destroy them because, you know, cars are not capital or anything) in order to stimulate new auto sales.
Step 3. Hope equities go up.
@Matthew.
You're becoming one of my favorite online people....
>> It reminds me of when Peter Schiff was bashing the Bush tax credit (you know, the one where they just mailed everyone a check) and he said, "Why not give everyone a million dollars?"
At the time, I wasn't paying close attention to politics/economics and thought: "Since we're running a surplus, Bush's idea [to give the money back] is a reasonable response." But, when the surplus rather quickly turned back to deficit, I wondered why they left the tax rates lower... And, of course, since then, I've learned there never was a surplus anyway -- just Slick Willie and DINO/RINO lies.
Post a Comment