Morning Corner 10.10.11

ES (daily info)
-no change (above mid)
trend=down
low= 1086.25
rev= 1193.00; mid= 1142.13


ES is back above the 61.8% retrace and the SMA(21). It's still below the weekly 3LB mid.



DXY (weekly info)
new high 78.73
trend=up
high= 78.73
rev= 77.19; mid= 77.96


DXY still trying to breach its 38.2% retrace. It's also trying to hold the trend line. Last week made another high but the candle was a spinning top so no direction is apparent.



GOLD (weekly info)
-no change (below mid)
trend=no
direction=down (2 bars)
low= 1622.30
rev= 1876.90; mid= 1749.60

Gold is treading water at its monthly 3LB mid. It did make a higher low and high than the previous week. It never tested its SMA(55). Not dead yet.

21 comments:

spoonman said...

Hope you had a good birthday Andy. Happy 40.

AmenRa said...

So the plan for a plan of a plan (that has yet to be planned) to help EU banks is behind this move?

AmenRa said...

Hmmm. I think I see what happened. There were not enough shorts at the break of 1120 so they pushed the market down to 1075 to see if they would bite. And bite they did. A $100 move use to take weeks/months. Now it's done in four days.

Leftback said...

Bond markets are closed today, so this is all b.s. to my eyes.

Eurofollies back in full swing. Macro Man manages to take the piss out of them every day without repeating themselves, which is amazing....

Broadly bullish but short-term cautious...

AmenRa said...

http://www.youtube.com/watch?v=m72AVUKiLwk
Plastico - Ruben Blades & Willie Colon (Bugz in the Attic remix)

Andy T said...

What a market...sp500....

AmenRa said...

Ok algos. The bond market is about to wake up soon. Better get those numbers back to reasonable levels or your hand will be forced.

A moment of silence for:
Dexia
Greek Proton Bank
Danish Max Bank

Anonymous said...

http://www.finviz.com/quote.ashx?t=S

Caution: "Dumb Trade o' the Day (potentially)"

short the Oct 2.50 Puts, net ~0.44+

Should make the next ~10 Trading Days, a little more ~interesting..

~
AAIP

Leftback said...

Another one for you, Austria's Erste Bank:

http://www.bloomberg.com/news/2011-10-10/erste-to-keep-state-capital-as-writedowns-cause-net-loss.html

Mel said...

Amen Ra

Sarc aside:-)...nice grooves...

OT...but you might dig this...I was dancing around to it this morning...Tata Vega

http://www.youtube.com/watch?v=emBDrNMRJ-c

As for Nola... the Treme theme song (with the exception of some wonky tempo in the chorus)...combines nicely with the Northern Exposure theme...if you're into mixes.

http://www.youtube.com/watch?v=1M1Iagf3GSs

http://www.youtube.com/watch?v=5-w-inT91AI

AmenRa said...

Mel

Ha! That was in a mix I was listening to last week.

AmenRa said...

WTF just happened? Was that a "1200 or Bust" move?

AmenRa said...

The bad thing for bulls is that they are near the top of the current trading range (aprox 1120-1220).

Cold Steel said...

That's the move where shorts come in at 3.45 and then get their asses burned and have their stops run before the close.

We love that move.

Leftback said...

Happy to go home with a little less risk on than I had this morning.

Anonymous said...

+3.4%, well, that there is a squeeze.

Mel said...

Ra

Okay, okay...this could go on forever...but one more... I was messing with this a while back...

Up the tempo on My Girl by the Temps a little bit...cut out a few loops...and drop them into Flowers by the Emotions..

http://www.youtube.com/watch?v=4P1x7Yy9CXI

http://www.youtube.com/watch?v=Lch3gGZ6kaY

AmenRa said...

Mel

I haven't heard that Emotions song in a minute. Nice.

AmenRa said...

Mel

With todays technology you can change the key on "My Girl" to match "Flowers".

Mel said...

Ra

Yeah...no kidding...just plugging a keyboard into Garageband could suck up the next year before you knew what happened.

AmenRa said...

Mel

I know. I know. :-)

Post a Comment

Disclosure/Warning

This blog should not be interpreted as investment advice of any kind. The authors are NOT representing themselves CTAs or CFAs or Investment/Trading Advisor of any kind. The authors may or may not trade in the markets discussed. The authors may hold positions opposite of what may by inferred by this blog.The information contained in this blog is taken from sources the authors believes to be reliable, but it is not guaranteed by the authors as to the accuracy or completeness thereof and is presented here for information purposes only. Commodity trading involves risk and is not for everyone.