ATHEN (weekly info)-no change (below mid)
trend=no
direction=up (1 bar)
high= 1308.48
rev= 1232.60; mid= 1270.54
That didn't take long. The Greece stock index is already making a weekly 3LB reversal down barely a week after getting the bailout. It's still below all SMA's. It even gapped lower to start the week. No wonder Greece is already asking for the next tranche.
FT MIB (weekly info)new low 19049.88
trend=down
low= 19049.88
rev= 20117.49; mid= 19763.69
The FT MIB (Italy Stock Index) started off the week in a serious down mode. As you can see it's now near its highs. Italy's bond auction went ok (thanks to China & ECB). The week did gap lower and is the second gap (continuation) so the down move isn't over.
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AT's Quick Glimpse on Silver and Gold below. It's been a while since I've Scribd anything on the metals. This is my best guess on what's going on with the 'shinier' things...
Silver and Gold Commentary 14JUL11
28 comments:
Yeoman's Work, AmenRa ~
AAIP
This headline cause a "WTF" spit my coffee out....
Guess I should have intuitively known this....
But, Black people are safer in prison.
http://www.reuters.com/article/2011/07/14/us-prison-blacks-idUSTRE76D71920110714
The U.S. may have its AAA long-term and A-1+ short-term credit ratings cut by Standard & Poor’s Ratings Services, which said there is an increasing risk of a substantial policy stalemate enduring beyond any near-term agreement to raise the debt ceiling.
S&P put the ratings on Creditwatch negative, meaning there’s a one-in-two chance they may be cut in the next 90 days. The outlook on the AAA rating was revised to negative from stable by S&P on April 18.
The long-term rating may be lowered by one or more notches into the AA category in the next three months if S&P concludes Congress and President Barack Obama’s administration haven’t achieved a credible solution to the rising U.S. government debt burden and aren’t likely to achieve one in the foreseeable future, according to the statement.
...From Bloomberg. This threatened downgrade is not about August 2nd. It is about not getting a handle on spending. Even Italy passed an austerity budget this week, we haven't had a formal budget in years.
..It appears that we are about to transition from living in interesting times to living in really, really interesting times.
GOOG back above 6 Benji's, well, was
AAPL wants to go back to it's all time high?
CNX up, technically
WYNN, why?, doubletop?
AT, thx for the updates...
SPX going acting goofy this morning
scratch that "goofy" statement, etrade 1min chart showed prints below 1304 about 5 minuted after open, now there not there... hmmm
news from Zedge Hero
them chinese!...
@Andy
Thanks for the metals charts!
"Channeling Stocks" (dot com - no less) - ror
---
See peeps, what you have to do is, you have to "buy low & sell high" (the same stock over an over)...
Instant Classic!
It's just that simple!
http://www.youtube.com/watch?v=Vuak4c9w7h8
whocoodanode?
http://www.thestar.com/news/article/1023775--city-offers-buyouts-to-17-000-employees
"At 1 p.m. Tuesday, 17,000 City of Toronto staff were offered a buyout package that would pay them up to 6 months severance as a lump payment, based on years of service.
At a noon press conference, Mayor Rob Ford also appeared to open the door to layoffs when he said the city has “thousands” too many employees.
“We have to look at ways of downsizing our workforce. We have too many employees here. Everyone you talk to agrees with that assessment. And it’s eating up a huge chunk of our budget.”
A little under half of the city’s budget goes toward salary and benefits."
...Apparently Canadians are downsizing government too..
BinT
Say it isn't so....
On the S&P update a few days ago, I mentioned I was booked every weekend in JULY.
This weekend I get to enjoy a 5 hour drive to s.padre Island for a "Cheer Competition." The pay-off is I get to see my daughters cheer team perform once for about 5-10min.
the last boat ramp on Lake Travis closed this week, Andy
I was born at the NAS in Corpus, Andy. We used to have an old film of my grandfather holding sand in his hand and watching it blow away horizontally at Padre Island when I was just a couple of weeks old...
Note to CV on Tom Lewis, the amateur who co-led the British Open after the first round. 24 putts yesterday in a 65, 34 putts today in a 74. He had more GIR today than yesterday.
- Whammer
@Whammer
Good catch...
http://www.youtube.com/watch?v=BvpOcAVuYXM
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But I suppose it was all just lucky indivination... because as you all know... CV just makes this up as he goes along...
Believe it or not...
I'm just gettin thru the last few comments on last nights thread... Good stuff if you managed to make it thru all the CV stuff...
@Matthew
I think ur right... debt ceiling raised, can kicked (I've maintained that posture all along)...Frankly - I can't really see what all the kabuki theatre is about (other than - that's all this government is good for anymore)...
& to be clear... When we blow thru this $2.5 trillion or whatever it is, (as we will)... & come to this point again (which we will - likely with about a "half life" of the last carnival)... There will be much hand wringing, TEOTWAWKI pronouncements, finger pointing, an overall histrionics... AGAIN...
Hermans Hermit's wrote a special song for such an occasion...
http://www.youtube.com/watch?v=TsCeVdCDqjE
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Now... On to 'modules'... Andy (yesteray), probably was on the right track...
"Slow pay" bitchez... I can see that (hell - it's just a glorified version of what they're oing this summer by raiding the pension fund)...
Share the pain...
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@Andy...
I'll TAKE the TIGER WOOdS bet... (Roll of 64 Kennedy's is fine with me - being as... I have them IN STOCK & I'm sure you do too)...
Personally - I'd be willing to up those stakes to a MONSTER BOX of Eagles (save for two factors)...
1. I'm 'arbitraging' Ag as we speak (so - like COM(EdY)-EX - it would be capricious to guarantee a supply)
2. On that SIZE... I'd need 'bookmakers' odds... As you know... It's NEVER about the REALITY of the bet... It's about the ARBITRAGE on the bet...
Ben can handle the escrow... I trust that dude...
http://finance.yahoo.com/news/US-credit-Raising-the-ceiling-cnnm-3642388950.html?x=0&sec=topStories&pos=7&asset=&ccode=
"If only lawmakers would raise the debt ceiling before Aug. 2, the United States will get to keep its top-notch credit rating. Right?
Yes, but not necessarily for long.
Two key ratings agencies have said they are expecting policymakers to not only raise the debt ceiling but to agree to meaningfully reduce the debt.
Moody's Investors Services said Wednesday it would likely change its outlook on the AAA rating to "negative" from "stable" unless "substantial and credible agreement is achieved on a budget that includes long-term deficit reduction."
Standard & Poor's on Thursday took it a step farther, announcing there was a one-in-two chance it would downgrade the United States within 90 days."
I wonder if Benelzebub would feel so sanguine about interest rates once the downgrades occur...just something to mull over the weekend..
And this pretty much knocks a hole in the idea of further unpaid stimulus...
@Bruce
In respect of THE OPEN CHAMPIONSHIP this weekend, here's CV's pre-weekend MULL...
http://www.youtube.com/watch?v=nYhTye_A9H0
Ritholtz can have all the fun he wants overpaying for bottles of wine in East Egg...
Instant regognition bitchez! (it's a curse)...
right up there with 'typo' errors...
@Amen
More tragic "Instant Recognition" curse...
Re: Today's SPX close...
http://www.youtube.com/watch?v=ZyhrYis509A
"Kiss me here... Touch me there... HANKY PANKY"
"life in plastic... It's fantastic!"
"I'm a blonde
be my girl... in a fantasy world"
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BTW... LENE made it onto the top 5 of CV's ALL TIME hottest babes...
bonus LENE...
Who has been a "hit" in CV's classes for more than a decade now...
Lo siento for the delay. Corner is up now.
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