AmenRa's Corner

A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.


I think the bears are listening to this: Let's Go Dancin'

Creditcane™: I stretched even more in the morning trade warming up for the afternoon run.


SPX
Bearish long day. Midpoint below EMA(10). Now below all SMA's (all in one day). Holding above trend line (3/6/09-7/1/10). Failed the 38.2% minor retrace (1314.25). New low on daily 3LB (reversal is 1353.22). QE2infinity. Also below weekly & monthly 3LB mids.



DXY
Bullish harami day. Midpoint below EMA(10). Tested and held its 0.0% retrace (73.51). Still below all SMA's. Failing its weekly 3LB mid. No daily 3LB changes (reversal is 75.75).



VIX
Bullish long day. Midpoint above EMA(10). Still above all SMA's. Left its 38.2% retrace (20.28) in the dust as it gapped higher and closed above its 50.0% retrace (21.67). Daily 3LB reversal up (reversal is 15.87). Another escape from the "no fear" zone.



GOLD
Spinning top day. Midpoint above EMA(10). Tested and failed its 0.0% retrace (1624.30). Still above all SMA's. No daily 3LB changes (reversal is 1590.10). Holding above upper trend line. Must have the precious.



EURCHF
Bearish long day. Midpoint below EMA(10). Holding its 0.0% retrace (1.1467) and failing its 38.2% minor retrace (1.1726). Failing all SMA's. New low on daily 3LB (reversal is 1.1732).



JNK
Bearish long day. Midpoint below EMA(10). Now below all SMA's (see SPX). Failed its 61.8% retrace (40.20). No test of 38.2% minor retrace (40.45). Failing trend line (2/5/10-2/12/10). No daily 3LB changes (reversal is 39.86).



10YR YIELD
Bullish short day. Tested and failed SMA(21). Midpoint above EMA(10). Tested and held its 38.2% minor retrace (29.56). Still below the upper trend line. No daily 3LB changes (reversal is 31.97).



WTI
Bearish long day. Tested and failed SMA(55). Midpoint below EMA(10). Tested and failed its 38.2% minor retrace (97.98). No dally 3LB changes (reversal is 97.25).



SILVER
Spinning top day. Still above all SMA's. Midpoint above EMA(10). Still above the upper trend line. Tested and failed its 38.2% retrace (40.69). No daily 3LB changes (reversal is 39.08).



BKX
Bearish long day (really confirming hanging man). Midpoint below EMA(10). Failing all SMA's. Tested and failed its 38.2% minor retrace (47.20) and 50.0% minor retrace (46.69). No daily 3LB changes (reversal is 48.32).



HYG/LQD
Spinning top day. Tested and failed SMA(21) & SMA(55). Midpoint below EMA(10). Tested and failed its 38.2% retrace (0.8201). No daily 3LB changes (reversal is 0.8329).



XRT
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Tested and failed its 0.0% retrace (54.72). Daily 3LB reversal down (reversal is 55.00).




IT HAS BEGUN. BE WARNED.

37 comments:

AmenRa said...

Good for a laugh: http://www.zerohedge.com/news/beach-getting-tan-and-sipping-corona-we-got-monetary-plan-and-it-involves-lot-toner

Andy T said...

Dude.

That's classic....

"Raise the debt ceiling..."

I'm not sure what to think about this from a socionomics perspective....

Andy T said...

"Bachelor" perspective aside:

When you're used to having a family in the house all the time, it gets "real effin" quiet when you're alone.

Geezo.

Been doing whatever it takes to get out of the house last few days....

Meeting customers...hanging out in smokey bars with fat people....'whatev'....

Just trying to get out of this quiet house.

Andy T said...

I've got the entire weekend to work on charts and technical analysis....

Call me a geek...but I'm really looking forward to it.

AmenRa said...

Andy T

That's how I was when I was learning the 3LB.

AmenRa said...

BTW I thought smoking wasn't allowed in bars? So Texas didn't pass that particular law?

RPH said...

AmenRa

Have you been watching palladium or did it just catch your notice due to the upside break? I have been watching it for a while as an indicator of risk on/off.

cv said...

@Andy T...(9:19)

You're a geek...

I'm going to be fishing & BBQing ribs...

We got about a dozen bluegrass bands coming down to the riv-ah...

Little Honky Tonk action...

Kina like this...

Gimme a T for Texas
http://www.youtube.com/watch?v=SY63KTMrkTM

Gimme 3 steps (on't forget Georgia)
http://www.youtube.com/watch?v=SY63KTMrkTM

cv said...

@Amen

If you're gonna pull out SPARQUE... You might as well pull out this...

http://www.youtube.com/watch?v=GxrCMA3k6rc

http://www.youtube.com/watch?v=X_khn1_16kE&feature=related

http://www.youtube.com/watch?v=bWgcOk_ot_E&feature=related

...& the finale

http://www.youtube.com/watch?v=fsXKpQV2ZdU&feature=related

cv said...

CV might as well just say...

CHOCOLATE BITCHEZ! (while we're at it)...

But we all know that 'Netflix' (bought or sold with worthless FIATS is MUCH more interesting in the carnival barking world)...

Me???

I'm going to go out... buy

cv said...

so...

(10:54) should be before (10:51)... & 10:51 wasn't even complete...

I'm keeping this short because blogger is acting weird...

cv said...

OK...

So CV's (10:54) post will NEVER EVER be seen by anyone...

Too bad... It could have made somebody some $$...

AmenRa said...

RPH

I have charts of most of the PMs. I haven't thought about using it as a risk on/off indicator. I did notice that in 2007 it never took out the 2006 high while the SPX reached new heights.

cv said...

@Amen

WTF with my (10:54) post getting dumped twice???

Matthew said...

CV:

I am jealous about you fishing. I just bought a new poll, but it's too damn hot for the fish to bite. I haven't been fishing since this winter.

I just need about a week of temps around 90 or lower and I am going to hunt down the biggest bass in the midwest.

Matthew said...

Sorry. I meant to say that I bought a new --pole-- (as in rod and reel). I am ready, when the time comes.

AmenRa said...

CV

Probably more this: http://www.youtube.com/watch?v=Hpx8ExVVa10

or this: http://www.youtube.com/watch?v=9wOE7mWZXpg&feature=related

or this: http://www.youtube.com/watch?v=hphcW5_W8hU

AmenRa said...

CV

Don't know. I haven't had any problems.

cv said...

@Matt

I think it's finally time... The midwest, seems 2 me, was BRUTAL this summer (temp wise)...

I only got a chance to catch some bass ONCE (a few weeks ago - midweek - in a pretty deep quarry - that was chained off the the public)...

So I kno what you're saying...

I'm hoping temps may cool 10 degrees or so a bit... Best I've been able to do lately is actually catch some live bait (which ought to pay off at some time or another)... :-)

AmenRa said...

Cv

or this: http://www.youtube.com/watch?v=xeQdCwdwEPY&feature=related

or this: http://www.youtube.com/watch?v=iSn7vp9YC1M

or this: http://www.youtube.com/watch?v=XsUIMUDmvqk

cv said...

@Amen (11:40)

careful where u go... That direction leads straight (no pun intended) to THOR... who may just want you back...

http://www.youtube.com/watch?v=oFI5WT9Gc80

cv said...

@Amen

I've gotta admit... You're the ONLY one who has EVER been able to 'bitch slap' CV in pulling out the 'tone down' vinyl out of the milk crates (only YOU - could know what I'm talking about there)...

Alright... CV is gonna regroup now... The pockets are still deep - they haven't been emptied yet...

cv said...

In the process... (10:54) was dumped a 3rd time...

AmenRa said...

CV

I grew up partying to this music (still do). It's house nowadays.

AmenRa said...

http://online.wsj.com/article/BT-CO-20110725-715643.html?mod=WSJ_qtoverview_wsjlatest
In Symbolic Move, Tavakoli Strips Rating Firms of Key Status

NEW YORK (Dow Jones)--As U.S. credit-rating companies largely avoid regulatory changes hitting most financial markets in the financial crisis's aftermath, one analyst is taking matters into her own hands, at least symbolically.

Janet Tavakoli, one of the most vocal critics of the machines behind the complicated debt structures that exponentially enhanced subprime bonds, inasmuch as she can has decided to strip the rating companies of their status bestowed on them by the Securities and Exchange Commission.

In a report scheduled for release Tuesday, the analyst is firing at the companies' nationally recognized statistical rating organization (NRSRO) designation that allows banks and money managers to use credit ratings to determine capital and what investments can be bought. Her frustration over SEC policy years after the agency failed to catch billions of dollars in "blatantly misrated" bonds has intensified since she called on the U.S. agency to revoke the NRSRO status of the companies four years ago.

"Since the SEC failed to act, I now revoke the NRSRO designation for all credit-rating agencies for every class of credit rating with the exception of corporations not engaged in structured finance in a meaningful way," Tavakoli wrote in a 50-page review of the inadequacies and conflicts of the rating companies through the financial crisis.

The Dodd-Frank Wall Street Reform and Consumer Protection Act seeks to reduce financial firms' reliance on the rating companies but hasn't hurt the idea of NRSRO status that Tavakoli said is the root of the problem. She hopes to draw more attention with her symbolic declaration, which she will be sending to Congress, she said in an interview.

Tavakoli, president of Tavakoli Structured Finance in Chicago, in her report recommended ways to boost ratings accuracy, including conforming to third-party benchmarks and ratings scales.

She called the top, AAA rating on the United States a "convenient fiction" that exists because there is no alternative system. Potential downgrades of the nation by Moody's Investors Service and Standard & Poor's would be "largely irrelevant," she added.

-By Al Yoon, Dow Jones Newswires; 212-416-3216; albert.yoon@dowjones.com

AmenRa said...

CV @11:48

This is the one: http://www.youtube.com/watch?v=4Fwkf3lKys0&feature=related

and this: http://www.youtube.com/watch?v=_08jLgQoM9s&feature=related

cv said...

@Amen

I think I'm gonna have to put the (10:54) on another blog (& link it - or something)... 3 strikes - now I'm out (must be formatting)...

Anyway - CV will say this RIGHT NOW...

disco (or something similar)... is going to make a comeback... I can already see it (because CV works in different trenches than most of y'all)...

It became popular, IMO, because MOST wanted to escape the high stress - high inflation - atmosphere of the 70's... I know... PRECHTER rules now... and... great be gosh a huckleberry howdy doody gosh a mighty... we're headed to that FIRE & BRIMSTONE deflation purgatory (@ light speed) as we speak...

Meh... CV thinks otherwise... 70's bitchez... (Caution: because the finale will take us past the 9's - but it won't seem so bad in the process)...

Might as well just have some fun... doesn't matter much if it's stupid or not... That's how we used 2 do it... miraculously - it worked!

http://www.youtube.com/watch?v=T6LtSSOCjI4&NR=1

cv said...

@Amen

dammit Amen! u were 2 clicks away from this...

(In the top 5 of CV's ALL TIME tunes that rocked the bones out of class students)... One NEVER knows how that works until you do it as both a class instructor (over 3 decades) & as a dJ (in da club)...

http://www.youtube.com/watch?v=VaVSdj38inI&feature=related

AmenRa said...

Don't get me started: http://www.youtube.com/watch?v=JGahV4WWz1E&feature=related

http://www.youtube.com/watch?v=RQUx9Zc7TdE

http://www.youtube.com/watch?v=1XySGeNIdY0

cv said...

@Amen

What u gotta love about TABU records is how they later scored with the SOS Band... (Morris day also had a hand in that)...

http://www.youtube.com/watch?v=z_Da9cEUHNI

http://www.youtube.com/watch?v=tQh3clSDH90

---

Morris day (TIME)

http://www.youtube.com/watch?v=OZCiLAqMQZY

...but CV's FAVORITE (Time) production...

http://www.youtube.com/watch?v=39Z-kE08P1U

"Why you big... toss salad hairdo havin'..."

LOL

(maybe in my 10 best ALL TIME)...

AmenRa said...

CV @12:28

That's definitely a cut.

This one still goes over well here: http://www.youtube.com/watch?v=AwIuvN-Njkg&feature=related

and http://www.youtube.com/watch?v=eIxlqhdXrLs&feature=related

and this one (which may be a little "deep"): http://www.youtube.com/watch?v=ANZ991LvqyQ

cv said...

@Amen

If you want to go all Gwen Mcrae on CV...

It's UPdATABLE... (used it last week)... These chumps need to get eased into the groove - u kno???

http://www.youtube.com/watch?v=KpN3fSPPhzY

AmenRa said...

CV

Take You Time (Do It Right) is still a cut.

cv said...

@Amen (12:43)

Now ur throwin down...

South Shore (around the way)... wouldn't have made into most joints... (but actually CV remembers that)...

..."around the way" is important... as in...

http://www.youtube.com/watch?v=o2AJoRtuYfo&feature=related

Melba Moore... always... makes all around EVERY way...

AmenRa said...

More current: http://www.youtube.com/watch?v=Voqu7V7vaTw

and not so current: http://www.youtube.com/watch?v=CgoxI0j0mPw

AmenRa said...

CV

South Shore is/was a Chicago & NYC classic.

cv said...

@Amen

I swear... I kno... I'm not tryin 2b right here... (on scooping up the past)...

But consier this... (Cv's 12:28 link)...

http://www.youtube.com/watch?v=qVbku5TfPzg&feature=fvwrel

This was just like the kid (when it counted)... it doesn't bother me now because it doesn't count anymore (in my muscle sinew - or what I train for)...

...but it's still amn entertaining... & it will ALWAYS be... over the years... It's kinda COOL to watch it that way...

One 'knows' or they 'don't'... That part of it is actually fun too... :-)...

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