Weekend Edition - 5.21.11

Wasnt't today supposed to be the day of the RAPTURE?

http://www.youtube.com/watch?v=pHCdS7O248g

Aww rats! Looks like I didn't make the cut... I think it's probably because I said... "Jesus Tapdancing Christ on a Hotplate" one too many times...

But that dude in the Blondie "rapture" video was one hell of a fine tapdancer in his own right... I wonder if he made it...

Oh well, I guess God works in mysterious ways, and has a reason for everything... You'd think, for example that EVERY SINGLE EFFIN' Goldman Sachs EMPLOYEE will not show up for work on Monday... I'm sure they were all 'chosen' (because besides the fact that they are doing 'God's work', they're all 'God's chosen people')...

My mission in life, I suppose, is to go to Pimlio Race Track today and bet the Preakness...

If you like using "socioeconomics" to pick horses names, how can you NOT like ANIMAL KINGDOM? (the morning line favorite at [2-1] & Kentucky Derby winner)... See, that's why I know I wasn't raptured, because if I was in heaven, the Preakness entry would have probably been "HEAVENLY KINGDOM" or something... Or, I suppose, if you think you have until midnight tonight for that rapture thingy to come calling, you could go with MIDNIGHT INTERLUDE...

CV??? I don't really like betting favorites, so I won't be on Animal Kingdom...

I'm going to go with a 3 horse exacta box of DANCE CITY, MUCHO MACHO MAN, & ASTROLOGY...

A 3 horse exacta box 'costs' 6x the amount of the wager amount... So, a $2 (3 horse exacta box) would run you $12...

I'll go 10x that... $120 (3 way box) on DANCE CITY, MUCHO MACHO MAN, & ASTROLOGY...

BTW... The "Woodland Vase" (the trophy for the Preakness winner), is the most expensive trophy in all of sports (and that was BEFORE silver went to $50 an ounce)...

The Preakness Stakes is also called "The run for the Black Eyed Susans" (which is the state flower of Maryland... The winning horse is draped with a blanket of Black Eyed Susans in the winners circle...

Only trouble is... They're not really Black Eyed Susans... The BES does not usually bloom in Maryland until the heat of July & August... So what you're probably seeing is a blanket of yellow petaled daisies, with the button in the middle painted black...

Like the Kentucky Derby (roses), the ladies come decked out in fancy hats...

And the drink is... Appropriately, the Black Eyed Susan...

1 - 1/4 cup vodka

4 cups orange juice

1 - 1/4 cup light rum

ice ring

3/4 cup triple sec

1 tbspfresh lime juice

4 cups pineapple juice

Nobody really drinks that though... Most of the hoi polloi are just in the infield in the largest keg party in the world... Enjoying the:

SOUNDS

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

SIGHTS

http://www.youtube.com/watch?v=jVhSERIBxPY&feature=related

...& of course, THE not to be missed RUNNING OF THE URINALS

http://www.youtube.com/watch?v=L_m138G9Vac&feature=related

What most people don't know, however, is that the famous INFIELD tradition at the Preakness did NOT actually originate from the Preakness itself... Instead, it originated to accomodate the throngs of fans, who in 1938, wanted to be part of the SEABISCUIT vs. WAR ADMIRAL match race (which was called the "Pimlico Special"...

MOVIE VERSION

http://www.youtube.com/watch?v=NF4ug6ip-tg&feature=related

ACTUAL FILMAGE

http://www.youtube.com/watch?v=WVT2MPNCqgM&feature=related

---

AmenRa's Corner

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

Creditcane™: On a light economic news day I appear. I'm unpredictable by nature.

SPX
Bearish long day. Midpoint below EMA(10). Still below SMA(21). Failed trend line (3/6/09-7/1/10) aka nice weekend treat. Tested and failed the 23.6% retrace (1341.90). No daily 3LB changes (reversal is 1360.48). QE2infinity. "JBTFD. Any questions?"



DXY
Bullish engulfing day. Midpoint above EMA(10). No test of 0.0% retrace (72.70). Held SMA(55). Still below its 38.2% retrace (75.99). No daily 3LB changes (reversal is 74.19).



VIX
Bullish long day (confirmed inverted hammer). Midpoint below EMA(10). Held SMA(21). Held its 14.6% retrace (16.75). No daily 3LB changes (reversal is 18.40). Trying to escape the "no fear" zone.



GOLD
Bullish long day. Midpoint above EMA(10). No test of 0.0% retrace (1577.40). Held SMA(21). No daily 3LB changes (reversal is 1556.40). Holding above upper trend line. Must have the precious.



EURUSD
Bearish engulfing day. Midpoint below EMA(10). Back below SMA(55). Still below its 76.4% retrace (1.4346). No daily 3LB changes (reversal is 1.4508).



JNK
Spinning top day. Midpoint above EMA(10). Still above all SMA's. No test of 0.0% retrace (40.93). Held its 14.6% retrace (40.73). No daily 3LB changes (reversal is 40.49).



10YR YIELD
Bearish short day (confirmed shooting star). Still below all SMA's. Midpoint below EMA(10). No test of 0.0% retrace (30.98). Still below the upper trend line. No daily 3LB changes (reversal is 32.30).



WTI
Hammer day (also possible bullish harami). Held SMA(144). Midpoint below EMA(10). No test of 0.0% retrace (114.83). Held its 61.8% retrace (98.41). No dally 3LB changes (reversal is 111.41).



SILVER
Spinning top day. Failed SMA(89). Midpoint below EMA(10). Failed the upper trend line. Failed its 61.8% retrace (35.28). No daily 3LB changes (reversal is 35.29). ""You want delivery! You can't handle the delivery!"



BKX
Bearish long day. Midpoint below EMA(10). Below all SMA's. Tested and failed its 50.0% retrace (50.11). No daily 3LB changes (reversal is 51.81).

WORLD WIDE PREMIERE JULY 1, 2011

Morning Corner 5.20.11

Nifty 50 (weekly info)
-no change (below mid)
trend=no
direction=up (2 bars)
high= 5927.50
rev= 5398.50; mid= 5663.00

This is the third week that the Nifty 50 couldn't get above its weekly 3LB mid. It's already below its monthly 3LB mid. It's also below its SMA(21), SMA(55) and SMA(89) on the weekly chart. The weekly 3LB reversal beckons.



IBEX (weekly info)
-no change (above mid)
trend=no
direction=up (1 bar)
high= 11068.10
rev= 8923.40; mid= 9995.75

The problems in Spain are starting to catch up with its market. It's showing weakness by trading below its monthly 3LB mid. It's trying to desperately hold on to the SMA(55). Just like Greece, Spain can't avoid it forever.



PSI 20 (weekly info)
-no change (above mid)
trend=up
high= 7765.00
rev= 6727.00; mid= 7246.00


Portugal seem to be holding up despite taking a bailout. Go figure.

AmenRa's Corner

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

Is it that time again?

Creditcane™: C'mon man. Philly Fed drops to 3.9 and I can't make an appearance?

SPX
Spinning top day. Midpoint above EMA(10). Still below SMA(21). Held trend line (3/6/09-7/1/10). Tested and held the 23.6% retrace (1341.90). No daily 3LB changes (reversal is 1360.48). QE2infinity. "JBTFD. Any questions?"



DXY
Bearish short day. Midpoint above EMA(10). No test of 0.0% retrace (72.70). Failed SMA(55). Still below its 38.2% retrace (75.99). No daily 3LB changes (reversal is 74.19).



VIX
Inverted hammer day (a warning shot across the bow?). Midpoint below EMA(10). Failed SMA(21). Failing its 14.6% retrace (16.75). New low on daily 3LB (reversal is 18.40). Deep in the "no fear" zone.



GOLD
Spinning top day again. Midpoint below EMA(10). No test of 0.0% retrace (1577.40). Failing to hold SMA(21). No daily 3LB changes (reversal is 1556.40). Holding above upper trend line. Must have the precious.



EURUSD
Bullish short day. Midpoint below EMA(10). Back above SMA(55). Still below its 76.4% retrace (1.4346). No daily 3LB changes (reversal is 1.4508).



JNK
Bearish short day. Midpoint above EMA(10). Closed above all SMA's. No test of 0.0% retrace (40.93). Held its 14.6% retrace (40.73). No daily 3LB changes (reversal is 40.49).



10YR YIELD
Shooting star day (closed flat so didn't confirm hanging man). Still below all SMA's. Midpoint above EMA(10). No test of 0.0% retrace (30.98). Still below the upper trend line. No daily 3LB changes (reversal is 32.30).



WTI
Bearish short day (possible bearish harami day but not in uptrend). Held SMA(144). Midpoint below EMA(10). No test of 0.0% retrace (114.83). Back below its 61.8% retrace (98.41). No dally 3LB changes (reversal is 111.41).



SILVER
Doji day. Still failing SMA(89). Midpoint below EMA(10). Failed the upper trend line. Failed its 61.8% retrace (35.28). No daily 3LB changes (reversal is 35.29). ""You want delivery! You can't handle the delivery!"



DJ TRANS AVG
Bullish long day. Back above all SMA's. Midpoint above EMA(10). Back above the lower trend line. No daily 3LB changes (reversal is 5510.06).



CRB
Bearish long day. Midpoint below EMA(10). Back below Monthly 3LB reversal price. Tested and failed its 23.6% retrace (341.84). No daily 3LB changes (reversal is 336.48).

WORLD WIDE PREMIERE JULY 1, 2011

Morning Corner 5.19.11

DXY (weekly info)
WEEKLY REVERSAL new high 75.76
trend=no
direction=up (1 bar)
high= 75.76
rev= 72.93; mid= 74.35

The dollar reversed higher last week (after two weeks of gain) but weakness has set in as this week is forming a dark cloud cover.



USDJPY (weekly info)
-no change (below mid)
trend=no
direction=down (1 bar)
low= 80.58
rev= 84.80; mid= 82.69

Last week formed a bullish harami and may be confirmed this week. It is also back above its 50% retrace of the move since 3/11/11. Now that the GDP for Japan was WTE the BoJ may print Yen which would send this cross even higher.



Swiss Franc (weekly info)
-no change (below mid)
trend=up
high= 1.1562
rev= 1.1090; mid= 1.1326


After all of the volatility in other currencies the Franc appears to be holding up. This week it is back above the weekly 3LB mid and has also held its 14.6% retrace. Weekly %R is not overbought but MACD (9,15,7) is starting to cross below zero. Time will tell.

AmenRa's Corner

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

Creditcane™: Down but not out. Bring it.

SPX
Bullish long day. Midpoint below EMA(10). Still below SMA(21). Tested and held trend line (3/6/09-7/1/10). Almost tested the 23.6% retrace (1341.90). No daily 3LB changes (reversal is 1360.48). QE2infinity. "JBTFD. Any questions?"



DXY
Spinning top day. Midpoint above EMA(10). No test of 0.0% retrace (72.70). Held SMA(55). Still below its 38.2% retrace (75.99). No daily 3LB changes (reversal is 74.19).



VIX
Bearish LONG day. Midpoint below EMA(10). Failed SMA(21). Failed its 14.6% retrace (16.75). No daily 3LB changes (reversal is 18.40). Deep in the "no fear" zone.



GOLD
Spinning top day. Midpoint below EMA(10). No test of 0.0% retrace (1577.40). Failing to hold SMA(21). No daily 3LB changes (reversal is 1556.40). Holding above upper trend line. Must have the precious.



EURUSD
Bullish short day. Midpoint below EMA(10). Still below SMA(55). Still below its 76.4% retrace (1.4346). No daily 3LB changes (reversal is 1.4508).



JNK
Hanging man day. Midpoint above EMA(10). Closed above all SMA's. No test of 0.0% retrace (40.93). Tested and held its 14.6% retrace (40.73). Daily 3LB reversal up (reversal is 40.49).



10YR YIELD
Bullish engulfing day. Still below all SMA's. Midpoint below EMA(10). Tested and held 0.0% retrace (30.98). Still below the upper trend line. No daily 3LB changes (reversal is 32.30).



WTI
Bullish long day. Held SMA(144). Midpoint below EMA(10). No test of 0.0% retrace (114.83). Back above its 61.8% retrace (98.41). No dally 3LB changes (reversal is 111.41).



SILVER
Bullish long day. Still failing SMA(89). Midpoint below EMA(10). Failed the upper trend line. Failed its 61.8% retrace (35.28). No daily 3LB changes (reversal is 35.29). ""You want delivery! You can't handle the delivery!"



TLT
Bearish long day. Midpoint above EMA(10). Still above all SMA's. Tested and failed its 14.6% retrace (95.59). Tested and failed its upper trend line. No daily 3LB changes (reversal is 94.59).



XLE
Bullish long day. Still failing all SMA's but the SMA(144). Midpoint below EMA(10). Daily 3LB reversal up (reversal is 73.13).

WORLD WIDE PREMIERE JULY 1, 2011