WEEKEND EDITION - Housekeeping Time

Nothing much to say except take care of a few HOUSEKEEPING odds & ends. We could either go with the 1932 version:

Or the more modern version (I'm sure there's a lot of good stuff in there - alas, only a "fakie", but it's hard to tell the difference anymore)...

Anyway, the HOUSEKEEPING changes are as follows:

1. AMEN RA's DAILY CANDLE WRAP (starting next week) - will launch at 5:00PM EST instead of 5:30

2. I'm going to "attach" LB's BOND WRAP to the end of AMEN RA's thread so the two summaries will appear as one. (on those occasions, which happen once in awhile, that the BOND market is a "snoozer", we'll use the following as our anthem song).

3. On a daily basis, there will now be a 2nd thread that launches either around the "lunch hour" (about 1PM EST), or, when the comment thread approaches 200. I've asked I-Man if he wouldn't mind publishing some of his charts to go along with that, and he's going to be contemplating if he can arrange that on a daily basis. Otherwise, I'll go with a "PART DEUX" model.

4. ANDY T will continue to publish his "Scribd" charts (and notes) on Sunday afternoons. For those of you who tend to be away from your computers for the entire weekend, I'll mostly use Andy's charts as the lead TECHNICAL story line to the Monday Morning thread. His comments are 'standalone', CV will simple add other stories which may have transpired over the weekend.

That's it all... Have a nice weekend!



mcHAPPY said...

EWI offers their free articles on a daily basis - of course nothing is ever answered, it is the hook and bait to get you to sign up.

They have a number of VERY timely posts in the last couple of days:





mcHAPPY said...

The above are interesting but the two must reads are:


"...Bob explains why he thinks that trading is not for workaholics or newshounds, but instead for those who can stand up under enormous pressure."

"...Discipline is much more difficult to obtain than a method."



Johnny is going to be scratching his head over this thinking, "But Brian said...."

McFearless said...


I always read those freebies, like you said, never get many answers, but every so often one of them gives some very valuable things for you to think about.

You should pick up Prechter's Perspective if you don't have it. Might be the best one out of all of them. He talked about the marine that he knew that he considered one of the best traders he ever met in it.

In the spirit of all the Canadian blog visitors:


Nic said...

One of my favourite trading books is written by an ex-marine and market wizard, Martin Schwartz called "Pitbull: Lessons From Wallstreets Champion Trader"
He left the marines and did an MBA at Columbia, then started out on Wall Street as a Securities Analyst and struggled for 8 years trading fundamentally but not really profitably. Then he left to become an independent home trader in 1979 and learned TA. The book is about his journey with money, getting his first client and becoming profitable and is really well written. He entered the US Trading Championships, which is run over a full year and he wiped the floor with the competition returning 781%, hence his title "Champion Trader"
Inspiring stuff.

1 said...

Housekeeping: How about releasing the "traders-anoymous" blogspot address to the rightful owners, as you have stated you would do?

Here we have a blog called "SURVIVOR CAPITAL" using the blogspot address of "traders-anonymous" and a blog called "Traders Anonymous" using the blogspot address "andytsgang". I am undecided as to which is the more ridiculous.

What I do know is that Bergsten owns the top level domain names for TA and that ownership is not likely to be successfully challenged. Of course, you know that, from your prior experience in such matters.

mcHAPPY said...


The lastest freebies are very timely in my opinion. He is speaking to the very core of the last bears standing.

Thanks for that book. I'm going to check it out.

@TR and CV
I would have to agree about releasing the name. This blog has evolved in to Survivor Capital and can most definitely stand on its own just as the other blog has evolved beyond "andytsgang".

mcHAPPY said...

Another famous Candian band, not as well known as Rush though. This one goes out to the bulls who see the world through "Rose Coloured Glasses".


Nic said...

McHappy do you like Amercan bands too?

karen said...

Taxa-Cola Why tax soda that we already subsidize?

Obama my go down as the most disappointing President in US history. I KNEW some of others would be bad.. and GWB is definitely the worst and most damaging President in US history.. but it seems to me, this administration has taken a disastrous situation and made it worse.

Anonymous said...

canadian music


mcHAPPY said...


Of course not. The CRTC will not allow it.


Yes, another great tune. I'll never forget the year it came out as in the summer I was working at a rich kids camp in northeastern PA - little fuckers - haha.

karen said...

From Doug Noland (remember, his commentary is at the bottom.)

The massive issuance of government "money" has always been inflationism's trump card. It's now in play, and this latest round of inflationism is again profoundly distorting market perceptions. "Too big to fail" has broadened from large financial institutions to encompass the entire system. Today, GSE obligations and municipal debt enjoy "moneyness" only because of the markets' belief that Washington will not tolerate disruptions in these key markets. Risk premiums throughout the corporate debt market have collapsed on the back of the view that massive stimulus ensures economic growth and strong company balance sheets. Throughout the risk markets, prices are bouyed by confidence that the Fed will restart monetization operations in the event of any market liquidity disruption. Hedge funds and other speculators are thriving once again as they successfully exploite Washington's inflationary policymaking. Washington is there with ongoing massive fiscal stimulus, ultra-low interest rates, and a liquidity backstop.
I noted above that "'Money' is inherently dangerous because virtually insatiable demand creates a propensity for over-issuance." There is a second fundamental danger inherent in "money:" A loss of confidence immediately incites a very disruptive systemic dislocation. If you can't trust money, what can you trust? No trust - no functioning Credit system or stable economy. Indeed, you really don't want to mess with "money."
Importantly, you don't want to allow distortions in money perceptions to establish a foothold. Such distortions are always and everywhere the lifeblood of Bubbles. Above all, you certainly don't want to finance a massive inflation of non-productive debt with "money." This only ensures a problematic widening gulf between perceptions of safety and liquidity and the actual deteriorating underlying soundness of these financial claims. And when the inflation of this money is also distorting market perceptions for Credit and asset prices throughout the entire system, inflationism is really playing with fire. Money Not Good.

karen said...

Read this and the comments if you haven't already.


I am so disgusted.. that's why i said 3 closes of GS over 180 and I'm out.

bergsten said...

@TR, CV As I've said elsewhere and elsewhen, I'm more than happy to do whatever "the group" wants with regard to Blog Names. Equally happy to "turn over" the Domain Names as long as I recoup the $250 they cost. I mean, fair is fair.

Nic said...
This comment has been removed by the author.
CV said...


You and I have discussed this via e-mail many times. The last exchange (that I remember), was about 6 weeks ago.

As we left it, there was no 'fret' (between you and I), about getting this finally resolved. We'd re-iterated the following (which has been the situation since day 1).

#1 CV had verbally promised to throw back the "traders-ananymous.blogspot" to the group as soon as I was able to do so... I'm under no legal requirement to do so (which is why the 'gravity' of the situation as expressed by 3rd parties is a little perplexing to me)... Nevertheless, I gave a 'verbal commitment' to bergsten that I'd honor that promise, and I intend to do so. My agreement to do so is a 'handshake' (virtual as it may be) between myself & bergsten. Therefore, it is NON-TRANSFERRABLE. It doesn't extend to a 'group'.

That doesn't mean that I WOULDN'T extend my offer to an 'assignee' of bergsten. Bergsten and I have always had a friendly relationship. Others, seem bent on complicating matters.

#2 There is a PROCESS involved in transferring a domain locator. First, is getting people used to a new name (or "slogan", as the case may be)... I've decided on SURVIVOR CAPITAL, and have been feeding that for about a month now (hence the discrepancy between LOCATOR & NAME that currently exists)... It will be resolved in due time... As I said before, bergsten himself has place no time frame as to when this should to occur. There are no legal elements to this other than a verbal agreement...

#3 Notwithstanding the above, it's not that CV is purposefully "dragging his feet" here... I put a lot of time into this blog (and my efforts are not 'monetarily' compensated for)... I have other things I have to do in my life as well... Most of my free time (if I have any), is on weekends... The springtime is very busy in that I have to spend a lot of time turning over earth, and preparing outdoor planting... My fingernails are always dirty...

Basically what I'm saying is that when:

- The soil is turned
- The seeds are in the ground
- The fences are fixed (& the nets are up)
- The pool is cleaned & 'summer-ized'
- The deck is stripped & re-weatherproofed
- The machines are serviced
- The boat is prepared
- The Pergola is up
- The taxes are done
- The broken roof shingles are fixed

Then, I can get around to spending a few hours on a weekend to make sure the "locator" of "traders-anonymous.blogspot" POINTS correctly to "survivor-capital".blogspot". (and the "archives" remain in tact with no glitches). I say that because I've already made one attempt at this, but had some problems. There can be more problems than one expects because of how things get saved from one template to another.

@ TEXAS RADIO... all I can say is "be patient". While you're at it, maybe you could spend your time thinking up a site SLOGAN...

Happy Sunday everyone... Back to the chores! (CV uses his pitchfork for the 'original' purpose)...

CV said...

You can have all the transfer orders you want... But you have to ask me "nicely"

DL said...

CV @ 9:03

Haven't done your taxes?

Better get crackin'

DL said...

Pictures of the new Dell "Mini 5":


I-Man said...

I keep putting off heavy garden work in favor of charts...

I'll be dropping 4 SPX charts, and a few USO later this afternoon.

There was some sick college lax on yesterday for the Big City Classic... anyone catch those games? It was the first athletic event at the new Meadowlands stadium... place looks pretty sick- cant wait to see the Redskins kick the shit out of the Giants there this fall.

Gonna hit the farmers market for some groceries, dig up some earth for my potato patch, transplant some herbs into bigger pots... (lost my damn basil seedlings, forgot to bring them in Fri night... low was 32, and they were toast,) plant some beans in their pots, and then post some charts later.

Sounds like a good Sunday.

Positive vibes,

1 said...

"I'd be happy to designate the "traders-anonymous.blogspot.com" moniker to your group... It's my final offering to a group of people who I'd considered for a long time to be friends... I ask you all (who may be reading this), just one simple favor... Please give me a week or two of TIME before I do so, so that I can establish a new identity, and a fitting NAME for what I'd like to pursue & present... I haven't had to think along those lines yet...

That was on January 17th. Here is the original link:
CV's written statement regarding the disposition of the blog address.

Emails to Bergsten? That was what, March 19th? As I recall, you concluded that you wanted nothing whatsoever to do with the Traders Anonymous site. Which I am sure is fine with all of the principals.

Slogan? You would build a house without the foundation being poured first? (Evidently so: hence the incongruous name/address of this very blog.)

AmenRa said...

What time will the Greece announcement come to juice the futures market?

Nic said...

Juncker has already announced 30bln aid for Greece at 5% and there is an IMF announcement for tomorrow for a further 15bln. Not sure if the euro loans will have the same seniority as the IMF ones but if they do it will be ugly for Greek bonds. Following all of that Greece came out and said actually they need more than that.
Eurogroup statement - http://www.reuters.com/article/idUSLDE63A0GE20100411
Greek raises them - http://www.reuters.com/article/idUSATH00535520100411

Nic said...

Actually I am not sure Greece can even afford 5%, I think the can has just been kicked down the road here.
Still it was interesting to see Germany capitulate on this one.

Nic said...

Tonights open will be interesting in FX

Unknown said...

Reuters said:
finance ministers of the 16 nations that share the single European currency backed a detailed plan for Greece to borrow from euro-zone governments and the IMF at significantly below market rates

If I die today, I want one of you to resurrect me as either a reckless lender or an irresponsible borrower. Its obvious that I've missed out on my bailout in this lifetime, but I'll be damned if I miss out on mine in the next!

Anyway, within the context of this present mortal coil, I sure hope that this lame attempt to put a ceiling on rates fails miserably. The moral hazarrd line up is a queuein' as we speak.

I do wonder about intended consequences too -- CV joked through the week about "release the Cracken". But I wonder if the Cracken will show up in the form not anticipated: While it would be nice to see some sort of demonstration/push back against the retarded bailouts provided to socialist Greeks, I wonder if it will (unfortunately) come as a rise/re-insurgence of neo-nazi types in Ger and/or elsewhere. Time will tell, but my guess is that social mood, like many other things, will swing too far, and we do get a reactionary movement. Over the long run, the costs of bailouts could be much much more then anyone ever fathomed.

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