VIX (weekly info)-no change (below mid)
trend=up
high= 21.85
rev= 15.32; mid= 18.59
This is a hard one to figure out. It has not been representing risk the way it used to. A good way (for me) to use VIX is to take the six month high and low range using the top 10% and lower 10% as reversal areas. So that would mean above 29.58 is risk on & below 15.97 is risk off (IMHO). Its below its SMA(21) and forming a bullish harami on the weekly chart so it may be getting ready to bounce.
SILVER (weekly info)new low 33.70
trend=down
low= 33.70
rev= 35.30; mid= 34.50
Silver and oil are joined at the hip it seems. As oil is heading higher this week, silver is along for the ride. It's held its 38.2% retrace#2 (34.46) for nine out of the last ten weeks. It's below the SMA(21) which has turned down but the other SMA's are still sloping upwards. It's also back above its weekly 3LB reversal price.
46 comments:
http://www.bloomberg.com/news/2011-07-06/u-s-job-gains-in-private-sector-are-illusory-commentary-by-alan-tonelson.html
Job Gains in Private Sector Are Illusory for U.S.:
http://thebusinessrelocationcoach.blogspot.com/2011/06/calif-business-departures-increasing.html
Calif. Business Departures Increasing --
Now Five Times Higher Than In 2009
http://www.zerohedge.com/
Planned Job Cuts Increase by 12% In June, Second Sequential Increase
BinT
I never thought about the reclassification that was mentioned in the first article. Interesting.
this Stub..via TBP..
http://online.wsj.com/article/SB10001424052702304803104576426131256469252.html#
actually, supports a main tenet of cv--'s "Thesis" ...
AAIP
@Q's
re: SPX/Cup
not sure if it's one in $spx, but do like that idea on CSII
Looks like silver said f&*# oil. We're doing our own thing.
@Andy (other thread - re: apple juice)
For me... I hate buying beer... It usually only lasts an hour...
@B22, yeh, you right, CSII looks more like a real cup, SPX daily looks more like one of those collasping cups
BR fishing again...Are Markets Overbought or Not?
99ercharts
SPX
ES
@QQQ's
you know what....just make sure you sip the SODA if you get thirsty
yeah yeah yeah, the p/e ratio on SODA is high, but it was high when I mentioned the stock here at $60 too.
people will keep shorting it, like NFLX, someone always wants to fight the trend, and who needs earnings when you have
accountants
Also: Based on the recent RS interview, I'm short Lady Gaga.
CV
6-pack or case? :-)
99er seems to have this habit of trying to place diamonds on every chart s/he makes
diamonds are said to be rare and basically impossible to identify in real time
I don't see much value in the pattern personally
EURCHF is in the process of forming three black crows (one more day needed).
@B22, dang, gap up about 5% today, maybe if it comes back down some, I'll take a bite.
Q. Do you actually buy stocks with OPM?
Still working on the SPXU play, we're back to end of FEB levels, lots of resistance here, been nibbling on SPXU Sep calls end of last week and yesterday.
B22, re 99er, I check those charts often and seem to watch the drawn lines. Wish the charts showed a longer timeframe to see where those lines start, but more often than not, prices change at those lines.
they had some guy on CBNC talking about Soda today...it's starting to get highlighted more i think
99er gets called out alot at Evil Speculator for having a bearish bias, i.e., picks/draws charts to support his/her thesis. Also, One guy there who seems to be very good has a beef w/ how his/her charts are drawn, patterns include price from motions/waves/trends that are completed already, which he says is a no-no, but I do it all the time and it works for me (well, as well as anything works for me.)
We're coming up on the 6mo anniversary of the Giffords shooting....
Guess there's still no link to Palin?
Wonder if we ever get a mea culpa from the left-wingers like Krugman and Ritholtz who basically blamed the whole deal on "heated rhetoric."
Those are some interesting threads to re-read.
http://www.ritholtz.com/blog/2011/01/take-aim/
QQQQ,
Your charts are pretty much what I've been watching and thinking since 1305 and subsequently 1314-1317 were blown - which means you are wrong lol. Sorry.
Q's
sure, I trade OPM every single day, been doing it all morning in fact.
I'd rather not put all of them up right now as I'm using a lot of them for clients as well but I put quite a few call options and some spread plays on in the last week. I'll be sure to really highlight the good ones in the coming weeks and probably won't say anything about the trades that don't go so well.
re: SODA
apparently Cramer is all over it
I might normally say be careful then but as I said earlier, people keep finding these stocks whether its this one, LULU, NFLX, 51JOBS.....whatever, and they keep trying to short them....so who knows how far they'll all go but fighting the trend there is not wise.
@Amen (10:41)
...um... yes!
@QQQQ
BR fishing again...Are Markets Overbought or Not?
Yeah I'm sure BR needs to consult franklin411 & friends as to his next move...
Q's
I don't follow 99er very close, though he's on, like, every blog.
I just notice that it seems like in a lot of the charts of that persons that I click the diamond pattern is being advertised, not sure how accurate any of the calls are.
here's one I will throw out
IPSU
big volume break to the upside, now it consolidated or is still doing so but I think it will break higher.
lots o' constructive charts.....and I'm not even using pattern matcher....lol.
@mcHAPPY, my charts? now where would those charts be located? I know I've posted the 18's numbers but most of the time I don't give a direction. I may from time to time trade on these numbers but don't remember posting any SPX charts saying buy or sell. Please enlighten me.
On that thread from BR's, couple thoughts:
1. The window dressing thing from last week became to simple an argument that a lot of people adopted, more charts look like accumulation than they do milisecond holdings.
2. Cumulative A/d analysis is supposed to be "reset" at major bottoms, anything you look at prior to 2009 on this front isn't likely to be very helpful imo.
3. Maybe we are near term overbought, and not that I'm some raging bull, but it's also easy to see on the chart most all the big intermediate term rallies since 2009 were kicked off with an overbought reading
Gold....forming a larger scale triangle again....
guess there was support in the 1480s....
HaBOOBS bitchez!
http://www.msnbc.msn.com/id/43650426/ns/weather/
"@mcHAPPY, my charts? now where would those charts be located? I know I've posted the 18's numbers but most of the time I don't give a direction. I may from time to time trade on these numbers but don't remember posting any SPX charts saying buy or sell. Please enlighten me."
Sorry to offend and sorry to have misread. I clicked on the links. Looking back through comments, I am assuming 99er is a poster somewhere else? I didn't realize this.
Again, apologies on obvious offense. It was more of a comment of my own abilities of late.
"Again, apologies on obvious offense. It was more of a comment of my own abilities of late."
Further to the above, my original comment meant no blame on you or anyone else for their ideas, suggestions, charts, whatever. The idea was if anyone is thinking like me of late they are most likely very incorrect - again dig was at myself.
@AAIP (8;38)
So now all Auric Goldfinger (or Silverfinger, or Copperfinger, or [nominate metal or hard commodity of your choice here] finger can just set off a dirty nuke in downtown detroit (hell - even a cobalt-60 woul have a half life of 5 years... and pull the rug out from unerneath the supply chain...
Hell, if you ask me... That's EXACTLY what Jamie & Lloy are planning...
- They leak it out that they have the stuff warehoused in detroit (but the real supply is secrete elsewhere - hell - the detroit stuff is probably tungsten)...
- you have all those muslims who have taken over the detroit metro area...
- So a nuke goes off, an it can all be blame on a new terrorist strawman...
Meanwhile... Jamie & Lloyd have taken out huge insurance premiums on their "stuff" stored there...
- It gets irradiated (& taken off the market)... Jamie & Lloyd collect the insurance money...
Meanwhile, they've gone heavy on cds's of the insurance companies...
Then they incrementally sell the "other" precious into the market uring the time the supply chain is bottlenecked...
---
But I'm glad to know SOME of you think it's "fun" to daytrade with these people...
What's that?... The fun!
...at least we all know now where the first shot of ww3 is going to be fired...
mcHAPPY, NP :)
Giant hogweed can scar and blind you, N.Y. warns
cv, I lived in Phoenix and Yuma when these dust storms rolled in (maybe not as big as this one though). They're nasty, it even gets inside your house and car.
@qqqq
Well all I can say is they'd better stay vigilant...
From CV's extensive 'meterological' experimentation, I've discovered that 'haBOOBS' tend to come in pairs...
@ben
Hey ben... Your office pal will be coming by telling you to load up on Korean ETF's in 5...4...3...2...
http://sports.yahoo.com/olympics/blog/fourth_place_medal/post/IOC-gets-it-right-Pyeongchang-will-host-2018-Wi?urn=oly-wp390
lol, a pair of haBOOBS, I'd like to see the data, or pics on your discoveries.
Them Chinese!... "Since 2009, Oregon's politicians have collaborated with the timber industry, its scientists and token environmental groups to ratchet up federal logging supposedly to "restore" forests and increase jobs. At year's end, we'll have lost potentially 48,000 timber jobs to log exports during this three-year period."
Want to create timber jobs? Stop the export of raw logs
chatter on a few blogs...
more peeps are opening gold shorts today... hmmm
@qqqq
all the talk of haboobs... & next thing u know gold loses its charm...
(5:00 - 6:50)
http://www.youtube.com/watch?v=nUFiqqgtEy8
http://sports.yahoo.com/nba/blog/ball_dont_lie/post/Muhammad-Ali-8217-s-8216-greatest-8217-gift?urn=nba-wp6056
Ball don't lie...
Earthquake 7.8
click on map upper right hand corner... zoom +/-
Headline: Obama expects debt deal in one or two weeks
BWAHAHAHA!!1 Yeah right. Until Congress deals with the major cost areas it's just smoke and mirrors.
Again I despise bearish haramis (SPX). They rarely get confirmed.
Ra, they could this time.
There is a pop gun set up - barely - but it is there.
This follows the major cold steel set up from last week on all the 'good news'.
More info here on two bar popgun set up.
http://www.fxtsp.com/education/technical-analysis/688-two-bar-popun-trading-pattern.html
BTW that is on the daily charts. The first is JUne 27 and the second today.
mcHAPPY
At first I though it looked like a harami followed by an engulfing. But those are based on the candle bodies. The popgun is based on the high-low range.
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