EURCHF (weekly info)-no change (below mid)
trend=no
direction=down (2 bars)
low= 1.2036
rev= 1.3117; mid= 1.2577
It still looks like those deposits in eurozone banks are running to Swiss banks. I guess they don't believe things are that rosy in Greece. It's trading below all SMA's. It's currently making a new weekly low and will be trending down on the weekly 3LB if it holds. It's not what they say, it's what they do. They agreed to new austerity measures but the money is saying don't believe the hype.
IBEX (weekly info)-no change (above mid)
trend=no
direction=up (1 bar)
high= 11068.10
rev= 8923.40; mid= 9995.75
Spain is not Greece…yet. Greece has $5B of notional CDS while Spain has $18.392B of notional CDS. If/when Greece goes those holding Spain CDS have major problems. That doesn't include government bonds. The IBEX is trading below all SMA's. It's below its monthly 3LB mid. It's also back below its weekly 3LB mid. "The pain in Spain…"
33 comments:
tyler durden, once again, wins the 'funniest' thread [sarc] post for the day...
"Fukushima, which has yet to be wrapped up into the world's most surreal Christo project, has now entered the realm of the sitcom farce. According to Dow Jones, "A small 8.2 kilogram drone aircraft gathering data from heavily damaged areas of the Fukushima Daiichi nuclear power plant lost control Friday and landed on the roof of the No. 2 reactor building, plant operator Tokyo Electric Power Co. (9501.TO) said. The vehicle, known as a T-Hawk, is about 50 centimeters in diameter and looks like a small jet pack. It is used primarily by the military for reconnaissance work in dangerous areas. It has been used at Fukushima Daiichi since mid-April to assist in damage assessment." What next: Getco's SkyNet bots take control of the Johnny 5's crawling and snapping pics inside the damaged reactors and all commit ritual suicide in the spent fuel rod pool (while churning shares of GM stock of course).
"President Obama’s decision to open the Strategic Petroleum Reserve could offer a jolt to the economy"
http://finance.yahoo.com/news/Why-Gas-Prices-Should-Be-dg-1083875141.html?x=0
How 'Presiential'!
30 million effin' barrels from the SPR? That's like a day an a half supply...
So let me see... It's June '11... I suppose here's the agenda:
July '11 - Release 30 mil barrels
August '11 - Threaten Armageddon if debt ceiling not passed
Sept '11 - Pass debt ceiling raise over Labor day weekend while everyone is distracted by Labor day & NFL
Oct '11 - Shut down government for 2 weeks
Nov '11 - Announce QE3
dec '11 - Stand back and let prices rise again across the board - ('label' it as a bullish resurgent consumer)
Jan '12 - Get worried about it again
Feb '12 - start a skirmish somewhere or dial up the HAARP machines
March '12 - kill Bin Laden again
April '12 - open up SPR again
May '12 - worry about the Eurozone debt [again]
June '12 - open up SPR again
July '12 - Worry people over an attack at the London Olympics
August '12 - kill Bin Laden again
September '12 - open up SPR again
October '12 - Warn people that a comet is heading into the inner solar system that may disrupt life on the planet (but inform everyone that President Morgan Freeman has known about this and has 'Project Messiah' ready to go...
November '12 - Rig the diebold machines (which would be a redundant step if running vs. Mormon candidate)...
dec '12 - hunker down while people wait for the end of world
jan '13 - PRICE CONTROLS
feb '13 - shortages
Football Cops - I laughed out loud.
AT,
I'd have to say maybe I'm feeling some of that on the political hope front....maybe, or maybe not.
the MJ proposal may already be dead in the water, sure I'm glad to see two guys that are polar opposite get together to do something that "makes sense" but at this point it doesn't have much traction and will still be left up to the states.
Obama Troop w/drawal, well, color me unimpressed with his "duh we're winning" points on Afghan. after all, the troop w/drawal doesn't equate to less troops than we had there when he took office and I'm highly suspect it's all polictal, with carefully selected dates given right around the election cycle. The fact that he even claims "it's working" is strange to me....what's working? What is the mission? Can't also help but wonder if it's even wise, Joe Biden has been on the wrong side of every major forgein policy decision of the last 30 years, now we hear all the military generals saying they advised the White House not to do this....so we'll see is all I'm willing to say right now about this. The strategics here seem awfully similar to Nixon in 71/72....from what I've read, of course.
So yeah, I feel good about some of it, but then of course just yesterday we saw partisanship at its finest with the deficit talk breakdown based not on the issue at hand, but on the "values discussion on taxes"
And for every one of these "feel good" items lets not forget things like the Obama extension of some of the most intrusive sections of the Patriot Act, the bills that are being signed into law that will ultimately control nearly all aspects of farmers lives, the fact that people think Michelle Obama has some sort of authority to tell parents that the government should be the ones deciding what their kids can eat......and I could certainly keep going here.
@CV, what, no golf?
@B22, PrezO is a bloggers wet dream, if one chose to dedicate the entire blog to his mishaps. When I worked in Reno, tearing out the electronics from of the old ATCT, I worked with a younger kid from Chicago, who was loaned to us for 3 months. If I ever said anything bad about PrezO, he immediately got on the defensive. Funny thing though, he defended him but didn't have facts to back up why PrezO was so great, even though he just bought his 2nd iPhone and it was in his hand 75% of the workday. (couldn't miss those twitter updates!)
wow, gold still getting knocked down to yard sale prices!
Q's,
I have a friend here in DE that is just like that with the O man, he'll defend him with everything he's got.....defend what? He's not exactly sure, but he's doing it, like Hansel.
he's one of those people that is still on the "better than Bush" bandwagon too
which I really find hilarious considering he's also told me that Bush was "the worst president ever" to which I always say:
"then why is he your benchmark for what to be better than?"
usually at this point in the conversation is where a person tells me.....well I'm a Democrat on social issues.....
B22, yeh, this guy brought up Bush also, usually I just stopped chatting with him and kept working.
is this something?
SPX hour chart since 1st of this month, seems we're forming 60% of a cup. Look how nicely curved it is. I like curves :)
Here's some curves to listen to while checking out the other curve.
rounded bottoms?
I think that's leftbacks department
http://www.zerohedge.com/article/nigel-farage-holds-funeral-procession-euro-middle-brussels
Nigel Farage Holds Funeral Procession For Euro In The Middle Of Brussels
LMAO
TRIN continues to inch higher as the day progresses.
I see that there is a lot of buying every time the SPX breaks below the recent low weekly close of 1270.98. Plus the EMA(200) & SMA(200) are at the door ringing the bell.
The Barney Frank interview on CNBC this AM was good viewing. This guys sounded a lot like a Libertarian this morning in re: MJ.
It warmed my loins.
http://video.cnbc.com/gallery/?video=3000029578
10yr yield 2.860% and falling...
@Andy
Barney warmed your loins? ;-)
My last splif warmed my loins.
he did a good job squashing those moronic questions
"there must be another guest here, I don't know who you are asking that question to"
that was hilarious
but I'm with mel, I'd much prefer a splif to warm myself up than that dude....gooooooo
lol
@Mel (2:50)
+2.618
---
My thinking, basically, is that 'Barney Frank' & 'warmed my loins' ought not collide in the same sentence...
Now let me get back to my bathroom remodeling project...
@Amen (2:07)
10yr yield 2.860% and falling...
Operation TITTY TWISTER (aka - Purple Nurple) bitchez!
Live it! Know it! Front run it!
---
a little musical accompaniment (CV does this off the top of my dome bitchez)... Been busy all day, just checking in for a sec or 3 - if I'm not mistaken out of the recess of my melon - Andy T will like this link)...
http://www.youtube.com/watch?v=pUx5z9O2ZGk
@CV
I was merely hoping to get on top of it before you...for a change.
Sheesh...now I'm scanning for double entendre.
I see the shenanigans have begun again...
CV
@3:15 - I was thinking that when I read it but decided to leave it alone.
-------------------
Shhhhh!!! The 200 (sma & ema) are lurking just below...
What if the orders (set for the close) for the Russell rebalancing are sell orders?
@Amen (3:38)
OK then... So it's officially 'put to bed' (BLACK COFFEE notwithstanding)...
Andy T (ur off the hook)...
CV hasn't even looked at charts today)... 'NON-EXISTENT' farm work beckoning (as the case may be)...
Yesterday... SCORE CITY!... CV was hauling a coupla truckloads of dogwood & cherry branches (from one of the 'NON EXISTENT' properties) to the landfill...
Sweet!... As I'm unloading, I spy about 3 cords of... CUT & SPLIT, perfectly dried, red oak logs... RIGHT THERE (a frontloader ready to push them onto the heap of other compost)...
I said (Whoa! WTF dude)?... I'll take that!
It amounts to about 3 winters worth of heat on a downstairs fireplace...
Might have just as well said... "Here dude... Just hand me over 30 oz. of PURE SILVER"...
Nutz! (which basically means - YOU MF's gotta get with the program)...
I hope all you bloggers today are having as much luck as JP MORGAN shoving 30 pieces of SILVER into your pockets...
Never kno when the WARMTH may come in handy some winter! :-)
CV
34 pieces of silver...
@Amen (4:05)
U be right... (You 'judas iscariot' mofo)...
This is the closest CV ever came to 'judas'...
http://www.youtube.com/watch?v=L397TWLwrUU
'arbitrage bitchez'!
30 vs. 34...
That's why u nee to check w/AMEN RA 1st...
:-)
@CV
It's absolutely stunning what people drop off at the town dump. On my next visit, I'll need a bigger truck and a bobcat to take back more stuff I can use at the farm, or sell...than I'll ever leave there.
But the better idea is a new "reality series" called "Dumpster Divers" (of course) ....for which I've got a treatment going. It can lead in for Ice Road Truckers. You wanna host? ;-)
http://www.zerohedge.com/article/guest-post-unforgiven-part-five
that is a good Art.
AAIP
snippage from, above, link..
"..I’ve previously detailed how the baby boom generation contributed to our financial quandary in Part One – For a Few Dollars More, how the traitorous deeds of the Federal Reserve over the last few decades have ruined the middle class and placed the country on the precipice of disintegration in Part Two – Fistful of Dollars, addressed the nefarious conception of a central bank in Part Three – The Good, the Bad, and the Ugly and revealed how the super rich have used the tax code and their control of politicians to pillage the nation in Part Four – Outlaw Josey Wales. Now I will detail the likely result of years of frivolous consumerism, creation of a debt tsunami, corrupt myopic leadership, crooked bankers, and a angry despondent populace. The lack of preparation by government and individuals ensures this Crisis will be far worse than it had to be. The violent clash between competing forces will be extreme, bloody and result in retribution dished out to the guilty. Ultimately, the country will need to atone for its sins.
Preparation
“Reflect on what happens when a terrible winter blizzard strikes. You hear the weather warning but probably fail to act on it. The sky darkens. Then the storm hits with full fury, and the air is a howling whiteness. One by one, your links to the machine age break down. Electricity flickers out, cutting off the TV. Batteries fade, cutting off the radio. Phones go dead. Roads become impossible, and cars get stuck. Food supplies dwindle. Day to day vestiges of modern civilization – bank machines, mutual funds, mass retailers, computers, satellites, airplanes, governments – all recede into irrelevance. Picture yourself and your loved ones in the midst of a howling blizzard that lasts several years. Think about what you would need, who could help you, and why your fate might matter to anybody other than yourself. That is how to plan for a saecular winter. Don’t think you can escape the Fourth Turning. History warns that a Crisis will reshape the basic social and economic environment that you now take for granted.” – Strauss & Howe - The Fourth Turning
This Fourth Turning was as predictable as the seasons. The American Revolution Crisis ended in 1794. The Civil War Crisis arrived 66 years later in 1860. That abbreviated vicious Crisis ended in 1865. The Depression/World War II Crisis arrived 64 years later in 1929. Our current Crisis arrived in the 2008/2009 time frame, exactly 64 years after the end of the last Crisis. Strauss and Howe wrote their book in 1996. They knew we had about a decade to prepare for the looming winter ahead. We had time to fortify, prepare, save, not waste our seed corn on foreign adventures, and reduce all non-essential spending. Not only did we not do what needed to be done, we did the exact opposite of what needed to be done.
The reason is the country has been run by ideologue linear thinkers. Believers in linear history are constantly blindsided by the fact that history is cyclical and periods of progress are counterbalanced by periods of regression..."
ibid.
@Amen
AMEN...:-)
@Mel
http://traders-anonymous.blogspot.com/2011/06/morning-corner-62411.html?showComment=1308948466420#c4207413488418634226
CV had a 'post' on this subject awhile back...
---
THIS (Where I virtually 'called' the QE2 intervention (which - as we all know NEVER EXISTEd in a MARKET SENSE - it was all just hypothetical... EWI & Prechter says so...)...
http://traders-anonymous.blogspot.com/search/?q=dumpster
Oh yeah... Then I guess there's THIS TOO (Chart filled even... Whereby CV eventually becomes 'triply' secure that NO FUCKING ONE is impressed by the observation - whilst sampling that 'San Clemente' or Northern Oregon wine)...
http://traders-anonymous.blogspot.com/search?q=dumpster&updated-max=2010-03-04T08%3A22%3A00-05%3A00&max-results=20
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Not that I fucking care... CV (being the imbecile [non-intellect] that I am...
CV
Just looked at that post from 7/1/10. Outside of the fact that there were over 300 posts (I checked the charts and markets were getting killed). You were a month early. But since QE1 had ended you knew the Fed was planning for the second coming.
Weekly 3LB Update 6/24/11
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