Morning Corner 10.19.11

IBEX (weekly info)
WEEKLY CONFIRMATION new high 8975.50
direction=up (2 bars)
high= 8975.50
rev= 7910.20; mid= 8442.85

This move higher in the IBEX is about done. The two notch downgrade should have it testing previous lows soon. It managed to get above the SMA(13), the 61.8% minor retrace and the monthly 3LB mid. It's making a bearish engulfing this week (so far).

AUDJPY (weekly info)
WEEKLY REVERSAL new high 0.7915
direction=up (1 bar)
high= 0.7915
rev= 0.7376; mid= 0.7646

It appears that the EU rumors caused a "risk on" condition. Unfortunately that long bullish weekly candle is not a reversal candle. It could be a part of a longer pattern but this week is negating that idea. It couldn't hold the SMA(89) or SMA(13). It's struggling to hold the 50.0% retrace.


AmenRa said...

$1.12 Of Morgan Stanley's $1.14 Q3 EPS Comes From Benefit Of Spread Blow Out

3Q EPS $0.02. Nuff said.

ben22 said...


just read your message from last night

you know what else keeps running into fibo's? run a ratio chart of spx and dollar and/or UUP

as for, my team is toast!

ben22 said...


but what is morgan stanley's p/e

oh no, what is their forward p/e

was the accounting gimmick "priced in"????

the article from Karen seems more the relevant as this week rolls on

AmenRa said...


Once the first bank used DVA to boost its EPS we knew the rest were not far behind.

If they are not actually going to buy back the debt then they shouldn't be able to use it in their earnings.

Anonymous said...

House bill 195 basically says those who buy and sell second hand goods cannot use cash to make those transactions

cv said...


Andy T said...

Been meeting with a lot of chemical people last few weeks for various reasons.

Seeing "run cuts" for chemical plants world wide. Physical naptha becoming very long in Europe.

Butadiene prices going to zero.

China actually turned away a butadiene ship they had contracted...they just decided they woudln't take it. They DK'd the trading house.

Very ugly picture out terms of the "funnymentals"

The performance of the S&P500 is remarkable compared to what i'm hearing about on the very front lines of the economy.

Anonymous said...


that's in Louisiana, right?

yes, wait for it, 9-9-9 is to 'soften' up peep with the VAT 'Idea'..

if We don't pay attention, We'll catch a VAT+an Income Tax, 'Cash' will be "outlawed" for 'second-hand' Transactions, and, Only, 'The Select' will be able to "Launder 'Earnings'" (see Wachovia y Friends, et al.)

also, note the recent Chase commercials, featuring the 'Wineglass'-set, splitting a 'Dinner Check' by using the Chase App., on their (sp-)iPhone, to e|mail 'their part' to the account of the Payor..

and, less recently, the Commercial, for Debit Cards, placed in a Coffee Bar/"SBUX", where all was going swimmingly, the cube-clones, all, paying by Debit Card, whistling 'Dixie' out of the orifice between their 'Southern Cheeks', til', of course, 'Lame-oid' crashes the 'Party' by trying to pay w/ 'Cash'..

(I think that makes sense, helps if you've seen the Commercials..)

Anonymous said...


those "Chemical-Sector" 'look-ins are Very Informative..

I've, always, found that if you're hearing Stories about 'all the Big Buildings being erected', go check with the "Block" Manufacturers..


Anonymous said...

who likes UTX to 'de-conglomerate' ?


Anonymous said...


should be interesting to see how this 'Trades Out', into Friday...



that Chart, is, still, a 'Head-shaker'..


niice..what a, still, over-priced POS..



ya know, yesterday, "island Reversal" was 'running through my mind'--in relation to this Chart..~

should have said so, then..~

ben22 said...


I work with a few peeps at DD in the titanium dept.

they tell me that China shut off all orders for Q4, did it in one week in September, just shut the whole thing off the rest of the year...

ben22 said...

If SODA can't hold $30

um, where's that Katie girl for the door?

ben22 said...

I just watched the MISH video link

to say that I'm sick to my stomach wouldn't really describe it

ben22 said...

anyone here ever attend a storage unit auction?

what was it like?

Know What you Want said...

Ben - I have been to a couple storage unit auctions.

If I can make a couple suggestions.

1) Know what you want (Are looking for)
2) Know how much you are willing to spend (And ONLY take that amount with you)
3) Be willing and able to move the stuff out of the unit quickly.
4) just go to a couple just to observe.

And just like anything be prepared to learn.

I am sure you have seen shows like "Storage Wars" they tend to show how easy it is to make money at these things and they have helped to bring out the wanna be's and it is easy to get caught up in the exitement of the moment.

And when you see that life sized rocking horse (Or whatever) you have always wanted, it is easy to get caught up in the moment.

It is very important to know what you want and how much you are willing to pay for it.

Mangy Mutt

AmenRa said...

Working on the corner now. Been a little busy lately.

Anonymous said...


MMutt makes good Points..applicable to most 'Auctions', as well..


Anonymous said...


did you see that the Raiders picked-up Carson Palmer, from the Cincy Puddy-Tats?

good 4 OAK & Palmer, methinks..


ben22 said...


thanks, good tips there. you don't have to say if you don't want but did you buy anything at the one you went to?


re: Carson Palmer, yeah saw that, I'm pretty pumped about it, but they gave up a lot for it, Oakland, they are banking a lot on this season. I hope he makes a run this year, it'd be cool, I've always sort of felt bad for him since the injury against the Steelers, that was a tough Bengals team.

Anonymous said...


yes, here, too, that '005 Playoff injury, where he was 'rolled-up' on, really blew..


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