Morning Corner 12.2.11

XLY (weekly info)
-no change (above mid)
low= 34.25
rev= 39.65; mid= 36.95

Last week XLY closed lower. Guess those products aren't on the X-Mas list. This week its back above SMA(55) and the monthly 3LB mid. But its well off the high for the week.

XLP (weekly info)
-no change (below mid)
high= 31.55
rev= 29.54; mid= 30.55

XLP didn't do to well last week either. Probably says more about the actual Black Friday than the MSM reports. Anyway, this week its back above all SMA's and appears to be making a new weekly high.

3 mth vs Overnite Libor Spread (daily info)
-no change (above mid)
high= 0.384
rev= 0.; mid= 0.374

It's still messed up out there. Doesn't appear the cross currency swap did that much to close the spread.


AmenRa said...

Deja vu? ECB to lend $270B to IMF (thru the back door).

AmenRa said...

Still no B/D info. BLS holding out.

AmenRa said...

Still no Table A-15 update either.

AmenRa said...

Something is terribly wrong if the BLS is afraid to release the info.

Skittle Eating Machine said...

Can anyone say Marshon Lynch, of course I have been a Seahacks fan long enuff to know, it's only one game and next week they will look just as horrible as always, but if they would have won last Sunday and again last night, that would have been impressive

Cvienne, If I had known you were going with the Eagles I would have made a friendly bet with yea, Seattle is a tough stadium for visiting teams and the farther east the team is the tougher it is for them to win.

Mangy Mutt

Back Door said...

AmenRa (8:19) - I would not mind getting $270 Billion, even if it meant receiving it through the back door.


BinT said...

Well, wages are down .1%...mathmatically impossible that the new jobs were, uh, well-paying...

Anonymous said...

anyone putting any 'Stock' in the 'Double-Top', observable, in this Chart of ZROZ?


Lynch was awesome, again..

it was, really, too bad, that they coughed up that game, against the (Fore-)'Skins, last week..

though, I, definitely, know how cv-- feels, I was thinking that the PHLea(b)les would beat NE, in PHL, last week--to 'Keep hope Alive' (for PHLly Phan)..

now, 5 years too Late, all they get is to howl--for the Sacking of Reid..


AmenRa said...


B/D -29k

U6 SA 15.6 prev 16.2, NSA 15.0 prev 15.3

Unemployment rate 8.6 prev 9.0 (cough BS cough)

Participation rate 64.0 prev 64.2

Part time 8518 prev 8896

Temporary 22.3 prev 15.8

Weekly hours (all) 34.3 prev 34.3

Not in labor force 86558 prev 86071

AmenRa said...

Mangy Mutt

Better read the fine print. For $270B it might not be a one time thing.

Reftback said...

Seems like another day of a weak-ass economy and another great day to take off some risk. Was actually hoping for a stronger number in order to buy some more USTs.

Sounds like US hired 130k Mall Santas and lost 10k govie jobs. Big whoop.

ben22 said...

Hey Mutt, I had picked up your boys D/ST for fantasy this week, got 17 points from them last night

Thanks Vince Young, I knew you'd come through for me....

AmenRa said...

Held without trial

According to the Act, the military is allowed to hold any person suspected of aiding al-Qaeda, the Taliban or an associated force without trial until the hostilities authorized by the Authorization for Use of Military Force, enacted just after the terrorist attacks of Sept. 11, 2001, are declared over.

Defense Secretary Leon Panetta and FBI Director Robert Mueller oppose the provisions, saying it could hobble attempts to elicit intelligence from suspects.

An amendment added later to the bill says the law does not require the military to hold either American citizens or foreigners living legally within the U.S., but it doesn’t explicitly ban it.

Amendment VI of the U.S. Constitution provides all accused persons with the right to a speedy and public trial by an impartial jury.

AmenRa said...

As usual NFLX not getting the love.

Reftback said...

XLF 13 and EEM 40 have been good sells in the past.
BUCKY flexing his muscles a bit....

Anonymous said...

who likes AZO "Triple-Top"?

now ~332.25

also, is 'strength', in this "name"..

a +, from a 'socionomics' POV?


ben22 said...


look at 5 yr weekly chart of AZO, there is very large RSI negative divergence as RSI peaked last year on ~12/27 at $270/share

this is the same type of negative divergence that developed in AAPL when I started to make the 426.50 call

that said, note that on any drops on the weekly time frame RSI is not falling below 50, so the larger trend still is very much up there.....on the daily chart yes, a triple top could be forming and there is also negative RSI divergence and perhaps a volume sign of buying climax in septemer

if it fails at the shooting star candle from 11/14 it might be in for a big drop but I wouldn't make that bet just yet personally
one to watch I suppose

will keep an eye though, might be a lot of meat on that bone at the right time

Anonymous said...


re: AZO

I hear ya, thank you~ for the input.

this: "...there is also negative RSI divergence and perhaps a volume sign of buying climax in September..."

could be 'the Signal' ..

+ 'earnings' are due to be reported on the 6th..

Monday's 'action' may be telling..

to me, overall, thing looks 'over-valued'..


QQQQ said...

what a week... yeh right

if ya take out mondays 5 min rip up +$32
if ya take out wednesdays 5 min rip up +$31,
= $63,


1247 now
1158 monday open
= $89
- $63
the remaining 388 5 min segments only made $26, not what I'd call a frik'n most excellent SPX rally since "oh, whenever" I keep hearing from the talking heads on the tube.

only up a few pennies on the SDS Jan 20 calls, added more today when they went on sale. Let's see where they stand over a bowl of oatmeal monday morning. (can't choke easily on oatmeal can ya?)

...AZO 10YR monthly chart looks lofty

18 said...


bounce off 1244, take it out, take it out!

ben22 said...


it could be, next week should be great time to watch it

a similar stock to that in terms of strong trend there was serious intraday reversal yesterday in LULU that had some great follow through today, might be worth looking at that chart intraday yesterday to prep for AZO's report....

AmenRa said...

...and it's gone.

AmenRa said...

Haven't seen this much determination/manipulation to keep the market positive in a while.


Reftback said...

Reduced risk by another 4% today, to what you could call 50% risk on.
But the longs are defensive and backed by 27% fixed income.
No net SPY position. No short positions.

15% EWJ, 6% HYG, 29% dividends.
17% TIP, 10% AGG, 23% cash.

Our macro view is we bumble between 1210 and 1270 this month.
We would fade any big moves, the rest of the time stay out of trouble.
At this point we are +11.0%, and well ahead of the benchmark.

Q's said...

no doubt

Waiting for the Wrap WRa...

Ain't got no regrets
And I ain't losin' track
Of which way I'm going
Ain't gonna double back
Don't want no misplay
Put on no display
An angel? no!
But I know my way
I used follow
Yeah, that's true
But my following days are over
Now I just gotta follow through
I remember what my father said
He said "Son, life is simple"
It's either cherry red or...

AmenRa said...

Is that a double top on Copper (daily chart)?

Anonymous said...

re: Red Metal

not, too, obvious, re: "Double-Top"

'Congestion' @ ~3.60? Yes.


S&P 500 1244.30 +0.70 +0.06%

how does that play, in '1244'-land?


AmenRa said...
Republican Jewish Coalition Bars Ron Paul From Presidential Debate, Saying He's Too "misguided and extreme"


Reftback said...

Seems like the dollar rally was interrupted briefly this week by the BERNANK dropping swap lines from the helicopter.

A continuation of the BUCKY run would be bearish for commodities and stocks in general. The Submerging Markets 2011 beat down may resume. EURUSD has no business being up here. Crude looks rich. Copper and China both look lifeless.

Let's see what Monday brings. Not super-bearish but you'd have to say that a follow through next week would be the Dumb Money. Still, it's too quiet to short, for now.

We all know that the Greeks didn't get any less insolvent this week, and the Fed's action can be read as a Hail Mary substitute for ECB printing. December 9 is likely to be a failure, but the credit markets will tell us what we need to know before equities do.

QQQQ said...

ibid, you're gonna think I'm crazy, it's ok

1244 is sitting right on top of 18's Major fib, 50% middle of 1800 X 0.764 (1375) and 1800 X 0.618 (1112). Then if ya want, you can fib inbetween the majors...


I plotted a few lines on this...

I've traded successfully using these numbers more often than not.

QQQQ said...

ibid, don't think the lines will show up on the link for ya, draw your own

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