AmenRa's Corner

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




Creditcane™: I see my second cousin twice removed is coming by for a visit.


SPX
Bearish short day. Midpoint above EMA(10). Still below all SMA's. Tested and failed the 61.8% retrace (1168.03). No daily 3LB changes (reversal is 1254.05). QE2infinity. Still below daily, weekly & monthly 3LB mids.



DXY
Spinning top day. Midpoint above EMA(10). Holding above its 0.0% retrace (73.51). Failing the 38.2% minor retrace (74.40). Still below all SMA's. No daily 3LB changes (reversal is 75.75).



VIX
Bullish long day (tested but didn't close gap). Midpoint below EMA(10). Still above all SMA's. Failing its 0.0% retrace (45.40). Tested and held its 50.0% minor retrace. No daily 3LB changes (reversal is 25.25). Escaped the "extreme fear" zone.



GOLD
Hammer day (unfortunately also bullish thrusting). Midpoint below EMA(10). Failing its 61.8% minor retrace (1781.50). Still above all SMA's. No daily 3LB changes (reversal is 1891.90). Must have the precious.



EURCHF
Bearish short day. Midpoint above EMA(10). Holding above its 61.8%% retrace (1.1078). Holding SMA(21). No daily 3LB changes (reversal is 1.1318).



JNK
Bearish engulfing day. Midpoint below EMA(10). Still failing all SMA's. Tested and failed its 38.2% retrace (38.07). No daily 3LB changes (reversal is 39.59).



10YR YIELD
Bearish thrusting day. Still failing all SMA's. Midpoint above EMA(10). Holding above its 0.0% retrace (20.92). No daily 3LB changes (reversal is 20.71).



WTI
Spinning top day. Still failing all SMA's. Midpoint below EMA(10). Holding above its 0.0% retrace (80.32). Tested and failed its 38.2% minor retrace (85.30). No dally 3LB changes (reversal is 92.08).



SILVER
Bullish harami day. Tested and held SMA(21). Midpoint below EMA(10). Tested and held its 38.2% retrace (40.69). No daily 3LB changes (reversal is 37.89).



BKX
Spinning top day (no 3rd day of 3 white soldiers). Midpoint above EMA(10). Failing all SMA's. Holding above its 0.0% retrace (36.25). No daily 3LB changes (reversal is 35.10).



HYG/LQD
Bearish long day. Tested and failed SMA(21). Midpoint above EMA(10). No test of its 0.0% retrace (0.7427). Tested and held its 61.8% minor retrace (0.7682). No daily 3LB changes (reversal is 0.7910).



USDJPY
Bullish long day. Midpoint above EMA(10). Tested and held SMA(21). Tested and held its 61.8% minor retrace (77.497). Daily 3LB reversal up (reversal is 76.46).




IT HAS BEGUN. BE WARNED.

22 comments:

cv said...

Just remember...

& on the 7th day... God said...

"Are you ready for some football?"

Anonymous said...

wow/yo~!/wtf?

was, just, listening to WBBR (Bloomberg Radio), on the way to the 'hither 'n yon'', was "Wall-to-Wall" Jobs/AAPL 'Swalllowing'/Sychophancy-City..

anyway, Ye of Logic, Ye of Faith, in Reason, Abandon All Hope, thee Who enter 'Here'--Today, these Daze..

AAIP

M E Hoffer said...

hey, and, as a, general, 'Shout-Out'..

recently, I've 'made' a few Posts that, I *thought, would generate a Response, or Two (3, 5, 8..)

but, really, no 'Dice'..

any *Reason why?

AAIP

Andy T said...

MEH. Will get to reading over the various posts today...

Andy T said...

I never (well, rarely) ignore what you have to say...

Andy T said...

John Paulson down 40% on the year...

The successful hedge fund model plays...

Make big bets. collect massive bonii.

Then, when you blow up, just say your investors...cash out the investors and think about huge bonus' you took down in the good years.

"Any hedge fund that eventually doesn't blow up wasn't trying hard enough."

Andy T said...

I'm drafting in 10 minutes....14 team PPR league. Got to be "on my game" and focused....

ben22 said...

good luck AT

MEH

on previous thread?

I always read your posts as well but had a lot going on here and there today

ben22 said...

I did catch that asshat at TBP claiming you were some right wing apologist for tax cuts for the rich or something

I thought that pretty hilarious, obviously they have no idea who you are.

AmenRa said...

MEH

I'm cynical enough already :) and not really surprised by the stories. I still do appreciate them.

AmenRa said...

Real GDP
Consensus 1.1% Range 0.7% to 1.6%

Is sub 1.0% possible?

ben22 said...

well, this is fairly interesting to watch

Michael Vick is getting rocked over and over by the Browns

Anonymous said...

I appreciate it, Guys..

I hear y'all ~!

ibid.

Matthew said...

Everyone is waiting for the Helicopter, and I suspect a lot of big players aren't going to touch ANY lower quality stuff until they detect a strong scent of pecuniary effusion (TM).

The Street is certainly not going to xmit any junk until they have a better sense of their clients' strategic direction.

I heard that some of the fast money is covering credit shorts (at this point, there's not much money left to be made there and why take unnecessary risk as the major desks become fully staffed again).

August is a really shitty month for things to go haywire.

Anonymous said...

However liberal the fiduciaries appear to be in regards to allowing 401k investors to choose their own investments, the investor is still entirely at the mercy of the fiduciaries. Management changes. The options you have today may not be there tomorrow.

It is often the case that the only way to permanently extract money - and thereby control of said money - from a 401k is to quit the employer. For a lot of people, quitting is not really an option.

Extraction is not taxed at the long-term capital gains rate, despite the fact that most 401k gains are precisely that. Even if you lost money on your investments, withdrawals are taxed as income and substantially penalized as well.

While it may be difficult to appreciate the negatives of what plainly appears a scam, the fact is that an intelligent investor would be far better served by avoiding such tax shelters entirely.

All of the above are merely the negatives for those that understand investing. For persons that do not even really know what a stock is, the disadvantages are far greater. Are Jack and Jill Sixpack really qualified to be pension fund managers? For that is what they are.

401k plan nationalization has been proposed in the past. By the time this bear market has run its course, the deed will be done. How hard will it be to convince JJ6 to accept being made whole or a bonus payment of USG debt in exchange for their massive equity losses?

cv said...

well, this is fairly interesting to watch

Michael Vick is getting rocked over and over by the Browns


---

Look... LISTEN to me peeps (on Vick)... Just effin LISTEN to CV...

I kno you all HATE me for the silver call last year (that's why CV is RETIRED - pretty much - on 'market' calls)...

I kno you all HATE me for the 'arb into gold' call in May (that's why CV is RETIRED - pretty much - on 'market' calls)...

I kno you all HATE me for the 'back to neutral gold' call a few weeks ago (that's why CV is RETIRED - pretty much - on 'market' calls)...

BUT JESUS EFFIN TAPDANCING CHRIST ON A POPSICLE STICK BALANCING ON A HOTPLATE!!!

At LEAST... TRUST me on FOOTBALL...

Vick has turned the ball over 4x so far in 3 pre-season games... Not that he WON'T make a few highlight reels here & there... But READ my comments from the last thread (I figured the Browns would struggle on offense vs. the Eagles - 1st team anyway)...

---

In any case... the ACTION tonight is Redskins vs. Ravens... Some interesting stuff going on there...

I'll make an EARLY prediction & say BECK will start vs. the GIANTS in Week 1... I could EASILY be wrong... but it's an interesting battle...

QQQQ said...

I've been driving all night, my hands wet on the wheel... really drove all day, but did manage to buy some GLD Oct calls couple hours after open, but, it wasn't a paper trade... did it electronically ;P

(also about the same time bot BAC puts because today CNBS-XM thought the silly thing Moynihan did was a bigger story than jobs leaving)

re: 401k... I basically don't have any rights, can only trade twice each year (without penalty) within the 10 funds they have. But the match is 50% of each dollar invested up to 8% of my yearly gross, so that's not to shabby.

AmenRa said...

http://www.zerohedge.com/news/greece-activates-last-ditch-liquidity-rescue-package-preserve-its-financial-system
Greece Activates Last-Ditch Liquidity Rescue Package To Preserve Its Financial System

The biggest news of the day today was not that some old crony capitalist had doubled down yet more of his non-taxable wealth on a bet Bank of America would yet again be bailed out, or that Wall Street is about to be submerged under 3 feet of water. No, the most notable event from today was what we commented on in our first post from 7 am, namely that: "If we crossed through some spacetime vortex that brought us back in time just two short months ago, to July of this year, today's confirmation that the second Greek bailout has now failed, following the Finnish finance minister's comments that the country will defy Germany and will not give in to demands to abandon its deal for Greek collateral, which in turn has sent the Greek 2 year bond bidless, its yield up 227 bps to an all time record 46.38%, would have been enough to send the futures and the EURUSD plunging." Well, a few hours later, we did get a plunge, even if it was not in the US, but in Germany, where the entire local market flash crashed upon realizing what we noted hours prior: that Greece is now pretty much done. Yet it turns out there was more: unwilling to admit defeat yet, Greece was forced to pull out the last rabbit hiding deep in the recesses of the hat. As the Telegraph reports, "In a move described as the "last stand for Greek banks", the embattled country's central bank activated Emergency Liquidity Assistance (ELA) for the first time on Wednesday night." Such efficiency out of the Greeks for once- not a single Persian was harmed, or even needed, in this 21st century version of Thermopylae: the Greeks did it all on their own.

cv said...

"Greece Activates Last-Ditch Liquidity Rescue Package To Preserve Its Financial System

---

That's just 'funny' when you read it... Yeah... So that financial 'SYSTEM' is so darned good, they have to get in there & 'save' it... right?

cv said...

'Last ditch' no less...

Accept no substitutes for the meticulous superiority of 'last ditch' efforts...

cv said...

Bull semen spill causes scare, closes highway

http://news.yahoo.com/bull-semen-spill-causes-scare-closes-highway-155349874.html

"The incident began when the driver of a Greyhound bus carrying the freight alerted the fire department he had lost a part of his loadwhile negotiating the ramp on a highway near Nashville.

"he had lost a part of his load"... yeah... evidently!

cv said...

'World Peace' coming soon (by tomorrow, actually)

http://sports.yahoo.com/nba/news;_ylt=As34dh3NrJCLTSaDlXxbzos5nYcB?slug=mc-spears_ron_artest_name_change_082511

...in similar news, CV is changing his name to 'Whirrled Peas'

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