A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
"We're inviting Bernanke over to thank him."
Creditcane™: I sponsored Bernanke in a marathon so he flipped the script in the Senate.
SPXBearish short day (didn't confirm inverted hammer). Midpoint below EMA(10). Failing SMA(55). Holding above trend line (3/6/09-7/1/10). Failed the 38.2% minor retrace (1312.78). No daily 3LB changes (reversal is 1307.41). QE2infinity. Also now below the weekly and monthly 3LB mid.
DXYBullish long day. Midpoint above EMA(10). Tested and held the 61.8% minor retrace (74.94). Tested and held SMA(21). Holding its weekly 3LB mid. No daily 3LB changes (reversal is 74.79).
VIXBullish short day. Midpoint above EMA(10). Still above all SMA's. Above its 38.2% retrace (20.28). No daily 3LB changes (reversal is 21.32). Escaped out of the "no fear" zone.
GOLDSpinning top day. Midpoint above EMA(10). Tested and failed its 0.0% retrace (1588.90). Above all SMA's. New high on daily 3LB (reversal is 1482.30). Holding above upper trend line. Must have the precious.
EURCHFBearish long day. Midpoint below EMA(10). Tested and failed its 0.0% retrace (1.1574). Failing all SMA's. New low on daily 3LB (reversal is 1.1684).
JNKHanging man day. Midpoint above EMA(10). Held SMA(233). Tested and failed its 61.8% retrace (40.20). Below trend line (2/5/10-2/12/10). No daily 3LB changes (reversal is 40.39).
10YR YIELDBullish long day. Failing all SMA's. Midpoint below EMA(10). Failing its 38.2% minor retrace (29.56). Further below the upper trend line. No daily 3LB changes (reversal is 31.97).
WTISpinning top day. Held SMA(21). Midpoint above EMA(10). Tested and failed its 50.0% minor retrace (96.60). No dally 3LB changes (reversal is 91.02).
SILVERSpinning top day (evening star forming?). Holding SMA(55). Midpoint above EMA(10). Back above the upper trend line. Tested and held its 50.0% retrace (37.94). New high on daily 3LB (reversal is 33.60).
BKXBearish long day. Midpoint below EMA(10). Failing all SMA's. Failing its 50.0% minor retrace (46.69). Daily 3LB reversal down (reversal is 49.22).
HYG/LQDBullish long day (confirmed bullish engulfing). Tested and held SMA(21). Midpoint below EMA(10). Tested and held its 61.8% retrace (0.8128). No daily 3LB changes (reversal is 0.8332).
COPPERDoji day. Midpoint above EMA(10). Still above all SMA's. Failing its 38.2% minor retrace (4.430) but holding its 61.8% retrace (4.331). No daily 3LB changes (reversal is 4.282).
IT HAS BEGUN. BE WARNED.
19 comments:
I suppose I should be more interested in the debt debate...after all, it is a stealth balanced budget thingy...
But all the wringing of hands over the last 3-4 years has produced a strange ennui in something I had considered fascinating (investing) up to now...
..a good cold Mexican brew may improve my attitude..
There is still a lot of liquidity in credit. Financial paper flowed like the Amazon river today and credit spreads are still plenty tight.
I really don't buy the "bears feasting" hypothesis.
@Bruce
I'm not so sure it's ennui. The 21 year old in me is all too often surprised at being north of 55. I thought a vacation from the screens was in order about three years ago...but I still seem to be on it. Getting up with the birds for a 10 mile hike, planting a few hundred trees at the farm, a blue highways top down exploration with camera, a fresh walleye in the pan, a lake view and a good book on the porch, a to-do list longer than my leg, and new skill sets to learn...etc.etc...
Each to his own...but the news of the day, looking for an edge and chasing a buck just seems less interesting to me with each passing day.
Something tells me I'm going to be spending a lot more time in the real world than the digital one, now and in the future...although a Dos Equis sounds good.
If you've been wondering what Peggy Joseph has been doing in her leisure time (now that she is worryless in the knowledge that Obama is paying for her gas & mortgage)... Here's your answer... Apparently she's on jury duty...
http://sports.yahoo.com/mlb/news;_ylt=AoIPzZ3pnDf3D_RFmcdz0Ys5nYcB?slug=lc-carpenter_clemens_mistrial_blunder_071411
Blunder leaves Clemens case hanging by a thread
WASHINGTON – To most who follow baseball or at least find themselves caught in the cyclone frenzy of the New York Yankees, Andy Pettitte(notes) is seen as a good and decent man. Andy Pettitte is religious, they say. Andy Pettitte is pure. Andy Pettitte cannot tell a lie. When he admitted to Congress that he took performance-enhancing drugs he said he was confessing to his misdeed because in the end he would have to answer to God.
So when Pettitte said Roger Clemens told him he had used HGH, almost everybody who watches the game believed him because, after all, he was Andy Pettitte.
In the perjury case against Roger Clemens, already buttressed by used steroid-laced needles and used cotton balls covered with Clemens’ blood and DNA, there was always honest Andy. He gave legitimacy to the slimy characters and drug dealers who pointed their fingers Clemens’ way.
But the jury in this case did not know Andy Pettitte. Most of the 10 women and two men who sat in judgment of Clemens admitted during jury selection that they had barely heard of Clemens, let alone Pettitte. One prospective juror told Clemens’ attorney she “wouldn’t know Roger Clemens if he was sitting right next to you,” which, in fact, he was.
They were middle-aged and mostly African-American. They lived for most of their lives in a Washington, D.C. that didn’t have baseball and when a team did arrive it was sold to fans in the suburbs. Several liked football. A few talked about basketball. None seemed to have a thought about Andy Pettitte.
This is why Assistant U.S. Attorney Steven Durham must have felt compelled to push. He had Pettitte. He had the one man baseball fans believe in the steroid frenzy. But he needed to get the jury to trust Pettitte the way most baseball fans already do. And late Thursday morning, on the second day of Clemens’ trial, he stepped too far. (click link to read rest)
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Hmmm... US Attorney (likely an "Action Jackson" Holder appointee)...
Your gubbmint hard at work, as always...
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Methinks - CLEMEN(CY)TS will be paying PJ's gas & mortgage from here on out (which is good news, because now you're off the hook as a taxpayer)...
As true "ENTERTAINMENT" generally is... You can't make this shit up!
Please don't skip the 'Maryland Congressman Elijah Cummings' part...
I wouldn't want to deprive anyone of any possible morsel of hilarity...
@QOT
"Being busy does not always mean real work. The object of all work is production or accomplishment and to either of these ends there must be forethought, system, planning, intelligence, and honest purpose, as well as perspiration. Seeming to do is not doing. "
Thomas A. Edison
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Yeah... & when you're basically a 2 bit POSER like yourself, who just happens to be better connected... Steal all the innovation you can from Nikola Tesla, then, endeavor to discredit him... heaping all the credit upon yourself...
It's no wonder we now have a GE (who will be happy to play along an tell you that you need to but an AL GORE lightbulb, to, you know, "SAVE THE PLANET")... And because of all that "bringing of good things to life"... It's no woneder that we have a Kenyan as POTUS...
But it's all good... Somebody IN THE KNOW will not hesitate to tell u so...
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100W "incandescent" lightbulbs bitchez!
Stock up on them now (while you still can), before Obama declares you as being a 'terrorist' for not doing so & sends you to Gitmo...
Oh no wait... We closed gitmo right? That was the 1st agenda item of the HOPE & CHANGE era...
Well at least if you're gay you can probably get married now... Important things first, after all...
The kid leading the OPEN has a really awesome swing. I took a longshot bet on him to win the whole thing.
What the hell...
The last kid with that kind of awesome and natural swing was Rory McIlroy.
With this kind of young talent everywhere, I'm not sure Tiger will ever win another Major.
@Andy T
Tiger WILL get it together & eventually win, not just another major, but will TIE Jack Nicklaus...
Stop looking at it from a golf perspective & plot Tigers career as 'Elliott Waves' & you might see it...
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Come on man... It's time for you EWI faithful to start putting your 'socioeconomics' theorems to the test in things OTHER than the canned & contrived POST MOdERN, clownbux fueled S&P 500...
See...
CV 'sees' things differently than y'all...
It's because I'm willing to not be shackled by labels like 'anti-semitism' (& instead, simply see things for the aggregates that they are & portray - often BY INTENTION)...
For instance...
I've been saying since march that the NFL labor dispute woul go down to the ZERO hour and then get 'miraculously' resolved...
Why? What was my inspirational wisdom of such soothsaying foreknowledge?
Well... Simple... Because the PROCESS is controlled by a bevy of greedy *** lawyers... (who - by the way - bill by the hour)...
Think they're gonna leave a few months worth of billable hours on the table??? Even a 'days' worth??? Think again...
Now click on over to Barry Ritholtz & ask him what he thinks about it...
@Andy
& your right...
The amateur does have an awesome swing (mostly swing plane - to be precise)...
Fuck that though... He had 9 putts thru 9 holes...
Putting bitchez!
See how well his swing holds up when the putter takes a lunch break... Then we'll talk...
Andy
In competition (either for $$ or medals)...
I've carded:
- a 63
- a 65
- a 68 (with 4 bogeys on the card)
- a pair of 69's
- & at least a half dozen 71's & 72's
conmmon denominator?
None of the rounds I had over 24 putts...
& it's not like I was beating the pins down in any of them...
LOL
& if you think I'm making any of this up...
Let me tell you... You remember EVERYTHING about the day you shoot a 63 or a 65...
Everything down to what you ate for breakfast that morning, to the flight of the ball on the range, to the exact color of the sky, to the smell of the grass, to the looks on your playing partners faces...
I wish I could remember SEX that well...
In the Oh you gotta be fucking kidding me department...
http://sports.yahoo.com/soccer/news?slug=ro-rogers_obama_world_cup_invitation_071311
Can somebody... You know... Some SMART person... Please explain to me why the TOTUS doesn't have Air Force One burning fumes on the Andrews Air Force Base tarmac, just waiting to 'wing it over' to Sandwich, England in case Lucas Glover wins THE OPEN Championship...
He... Being the 'golfer in chief' an all...
More... How fucking clueless are these women's soccer team members anyway???
I mean... Jesus Tapdancing Christ... You got debt ceiling walkouts, Camp david summit requests, fucking pomp & circumstance grandstanding going on left & right inside the Capital beltway... & what????...
Oh nevermind... I'm just going to douse myself in gasoline now, light a match, & the world will INSTANTLY become a better (& more informed) place...
Happy to inform you that I'm 'saved' from the brink by this...
http://tv.yahoo.com/blog/everything-goes-wrong-in-an-australian-morningnews-segment--3330
but just so you know that there's always something to push you back...
http://news.yahoo.com/blogs/ticket/voters-blame-bush-more-obama-economy-143014602.html
Tom Lewis' (aka the Kid) putting stroke was silky smooth as well.
I like how defensive Lee Westwood got in a post round interview....something to the effect: "These guys aren't amateurs like I was an amateur. They're flying all over the world playing tough courses and tough competition. They're like semi-pros."
C'mon Lee...that's all true, but it sounds a little sour.
Just pull your head out of your ass and finally win a Major.
CV: I will bet you one roll of 1964 Kennedys that Tiger will NOT match Nicklaus's record. not sure how we can escrow that one...but I would bet you that.
I'm sort of hoping they don't raise the debt ceiling. We don't default on our debt...and the SS checks will keep going.
We might not be able to pay the various bloated USG Departments...like the Department of Education, Interior, Energy, Homeland Security...but um....um....I think that'd be OK with me.
Some defense contractors might get 'slow payed'...that'd probably be where the 'tension' hits.
They'll raise the debt ceiling. If there is one thing that I have learned in my relatively short life, it is that you can't make a bunch of babies take their medicine; you have to jam it down their fucking throats.
We'll solve the debt problem in government when lending to the government is as pleasurable and safe as getting a blowjob from a shark.
Given how recklessly they are spending at the moment, we will reach that singularity much more quickly than I anticipated. People will be frustrated and angry (and probably won't understand why they can't have all of these government services for free, no matter how clearly it is explained to them). They will be tear-gassed and blame the "opposite" party for the woes.
And then, they will do something that makes absolutely no sense: Slowly, they will rebuild the same unsustainable machine.
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