A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection
Creditcane: Knock knock. Market: Who's there? Creditcane: It's me. Now let me in. It's my turn...
SPXDoji day. An evening star perhaps? But don't tell the algos. 1041.83 (fibo .09 from high) has fallen asleep waiting for a retest. Closed above 1078.87 (fib using low). Still above the SMA(21) but below the SMA(233). Midpoint above EMA(10). Closed above the weekly 3LB mid. No daily 3LB changes (reversal is 1070.25). QE2infinity.
DXYBearish short day. Move running out of steam? Midpoint below EMA(10). The 85.11 (fibo .1459) has been violated. Now below the 61.8% retrace. New low on daily 3LB (reversal now 84.08).
VIXBullish short day. Midpoint below EMA(10). Closed below weekly 3LB mid & monthly 3LB mid. "Fear is here so don't get fooled on market pumps. Repeat ad nauseam." Back below the SMA(55),the SMA(21). Held the SMA(144). Back above the SMA(89). No daily 3LB changes (reversal is 45.79).
GOLDSpinning top day. Below the SMA(21) and tested the SMA(55) but failed (again). Midpoint below EMA(10). "To hell with fiat! Say it again! I'm gold and I'm proud!". No daily 3LB changes (reversal is 1240.70).
EURUSDSpinning top day. Midpoint above the EMA(10). No test of the fibo .1855 at 1.2336. Tested weekly 3LB reversal and passed. Still above the trendline (11/27/09-3/17/10). New high on daily 3LB (reversal now 1.2654).
JNKBearish short day. Possible bearish harami. Still above the 50.0% retrace. Now above the SMA(89) and the SMA(144). Midpoint above EMA(10). No daily 3LB changes (reversal is 39.38).
GSBearish short day. GS is running away from the SMA(55). Midpoint above the EMA(10). Still no test of the 2.058 fibo (using low) of 144.98. Still wants to test the 1.618 fibo (using low) of 124.12. No daily 3LB changes (reversal is 131.14).
10YR YIELDBearish long day. Tested the 14.6% retrace (passed). Midpoint above EMA(10). Back below the SMA(21). No daily 3LB changes (reversal is 29.27).
LUMBERDoji day. Almost a gravestone doji but not enough hair (upper shadow). Still above the SMA(21). Midpoint above EMA(10). No daily 3LB changes (reversal is 183.60).
XRTBearish harami day (also a spinning top). Midpoint above EMA(10). Still below all SMA's. No daily 3LB changes (reversal is 35.31).
36 comments:
@Amen
Thanks Ra...
Hmmm... EVENING STAR say thou? On the WEDNESDAY of opex week?
Looks suspiciously like the 2 consecutive evening stars put in during OPEX week in June...
- Which was about the same time the 10yy was visiting the 21SMA...
- Which was about the same time the VIX was getting supported by the 144MA...
Does CV need to point out market behavior during the:
- first few trading weeks of Q210?
- Q110?
- Q409?
- Q309?
- Q209?
karen-
some advice for omelette's-
scramble the eggs in a bowl- never in the pan- if using egg whites- best to add a real egg (as CV inquired)-
always use medium heat- spray the pan w/ oil (Pam or something similar) after the pan is hot-
poor the eggs in the pan-
take a spatula- like the one's you use for batter- and pull the firming egg at the edged inward and tilt the pan so that the liquid egg spreads into the area you just cleared-
after the egg appears mostly firm- take the spatula again and swoop around the edges of the pan- ensure the eggs are loose by shaking the pan-
flip the eggs in the air so the uncooked side lands in the pan-
immediately put in any fillings- fold and serve-
foolproof
I use allclad stainless steel (no teflon)- but should work w/ any decent pan-
if you use telfon- throw them away immediately and learn how to cook
alright I-Man-
dropped you a line @ dread-
interested in your AM story
CV
Well it did gap higher at the open but closed within the body of the previous day. It would have been better if it had gapped above the shadow.
@ahab
"after the egg appears mostly firm- take the spatula again and swoop around the edges of the pan- ensure the eggs are loose by shaking the pan...
- flip the eggs in the air so the uncooked side lands in the pan...
- immediately put in any fillings- fold and serve-
You left out a couple of important steps (karen wise)...
Don't drop eggs on floor...
http://comps.fotosearch.com/comp/PLD/PLD428/smashed-eggs-floor_~px349045.jpg
When flipping... Regulate flip intensity so as not to have omlette stick to ceiling...
The heat is too high if it looks like this...
http://www.escapethecity.co.uk/wp-content/uploads/2007/11/my-first-spanish-omelette-burned.JPG
If all else fails... Go to a local bistro and oreder an omlette from this chick...
http://goodbadfrench.files.wordpress.com/2009/08/hot-waitress.jpg
@Amen (7:49)
I hear ya...
But think about it... Spirit was that it WANTED to (after INTC earnings)...
IMO - Some 'loose' stuff happened overnight...
This thing WANTS to print higher... This is EXACTLY like June OPEX... Which was dicking around that 1116 "gap fill zone"... Only now we're talking about SPY 110 MAX PAIN STRIKE & possibly even loose to that 1110 level that you know very well...
I'd say we hold onto that dream into the Friday AM open (and maybe a little push in the Johnny hour)...
B wave cometh afterwards...
CV @ 7;49-
LMFAO!!!!!
That's funny!
she needs to hire a cook obviously
still perusing the threads-
LB I think makes a good point w/ this-
If they did a QE2 that would be tantamount to saying that we are going to double dip - and that would be too TRUTHY for this environment.
my impression- the Fed would be exposed as powerless- unable to achieve their goals because they are outmatched by contractionary forces beyond their control-
I am not sure how the stock market would react- and the bond market- and mortgage rates- well-
rates were very low during the great depression that might be a clue-
tough to get inflation when there is 10% UE and people are taking jobs at less pay
I like Lee Westwood this week, he's having a nice season.
@ahab
Then again... Go over to ZH... Jim Grant (who is no shylock), did an interview with Margaret Brennan (hottie) from CNBC...
He was basically saying that he sees QE2 all lined up (based on the Fed nominations)...
FRANKLY (let CV put it in perspective)...
- In the "amped up" ZH way, it makes it all seem IMMINENT
- I don't think that's what Grant was implying AT ALL in the interview
- It is coming though
- And CV tends to agree with LB's timeline on that
I can't remember if LB put an "exact" time on it, but he seemed to imply Feb '11 (if I'm not in error)...
CV would VERY MUCH agree with that timeframe for many reasons...
1. It might not be right to do before the elections...
2. It's a "last arrow" move... Which means it is unlikely to be used in a PRE-EMPTIVE way
3. The "rhetoric" still remains that the last stimulus is working... So tell me how you do a QE2 until after you've abandoned that rhetoric...
4. The 2010 BUDGET hasn't even been drafted for GOD'S SAKE (and is not likely to arrive until after the elections)... I mean, C'MON!
5. QE2 would probably need to be accompanied by ANOTHER raise of the debt ceiling (the 3rd RAISE in OWEBama's short tenure)... The timeline on "running out of money" in this moment is around Nov/Dec... Therefore, it'll probably get RAISED in a LAME DUCK session during the Thanksgiving-Christmas period...
6. Feb is when the NEXT budget should be due... Let the NEW ARIVEES take the fall for it...
Basically - GOP... It's YOUR turn to fuck things up for awhile...
C,
I can't believe you missed the most important part of the QE2 story according to ZH:
"keep an eye out on the doubling in the price of gold the second QE2 is publicly announced, which will also double as the obituary for all fiat paper"
@McF
Fucking joke...
FRANKLY - the more I hear about QE2... The more I'm convinced we're going to see an "8" handle on gold...
(and I don't mean 8,000)...
and FRANKLY... (as I've said before)...
When TSHTF finally - in the last throes...
I'll be more interested in buying and holding PHYSICAL SILVER...
Just my "cockamamey" POV (from someone who people called a MORON) for SELLING NASDAQ holdings in March 2000... buying real estate, then, (at a 2% interest rate)... contracting to SELL that real estate in 2004... & buying physical gold with the proceeds, at the same time... (meanwhile, getting a .70 EURO CENTS appreciation to 1.35 EURO DOLLARS on those same holdings)...
Now... the same asshole is saying to:
- buy food
- buy containers
- buy lumber
- buy fuel
- start a fucking TILAPIA farm
I'm a fucking DICK!... I know... :-(
I don't manage OTHER PEOPLES MONEY...
So there's no way I'm smart enough to know what I'm talking about...
I don't have a PHD... (no wait - actually I do)...
Fuck...
That means I REALLY must be dumb!
@McF
Nevertheless... It was nice to just see Jim Grant just "kickin' it out in the open" like that on TV... :-)
Even if the ZH zombies misinterpreted the whole episode...
If I'm out of ideas for tomorrow (which I might just be, because my "feel" right now is none other than we're simply on a TRACTOR BEAM to hit the SPY 110 strike on Friday morning)... I might plug that interview into the thread topic...
Of course, I'll be accused of "stealing"...
Fuck 'em if they can't take a joke! :-)
China Data:
H1 GDP stronger than expectation at 11.1% - exp 10.5% after last 11.9%
CPI YoY +2.9% exp 3.3% after last 3.1%
Fixed Asset Investment YTD 25.2%, exp 25.2% last 25.9%
Industrial Production YoY +13.7%, exp15.2%, last 16.5%
PPI YoY +6.4% exp 6.8% after last 7.1%
CB Leading Index MoM… last +0.3%
Retail Sales YoY lower at +18.3%, exp 18.8%, last 18.7%
Risk on big time, stocks / EUR / AUD up Yen & USD being sold.
Cos a communist govt would never lie, right?
Benocchio can only dream of 11.1% GDP ...
And then the sneaky chinese publish later that Q2 GDP was only 10.3 vs 10.5% expected which has taken some shine off.
@Nic
Benocchio probably NEEDS 11%... annually... for the entire next decade... with ZERO taxes... NON based on the "G" expenditure in the:
Y = C + I + G + (X − M)
To achieve that dream...
BASICALLY... He needs:
- An AL GORE to invent "INTERNET 2"
- The discovery of an abundant FREE ENERGY source on the moon, and every nation on earth simultaneously singing "KUYMBAYA" in an effort to share that resource
- A lot of free "pot", "crack", and "alcohol" to be doled out freely to the public...
- Immediate DISARMAMENT of any & all weapons, worldwide...
- Britney Spears, Lilo, Kim Kardishan, & Justin Bieber to do a "simulcast" benefit concert...
- The CUBS winning the World Series...
...all happening in unison
Put together the quotient of outcomes?
He might... MIGHT... Have a chance...
@karen
Whoa now... The "don't drop eggs on the floor" was solely... SOLELY... based on your FREQUENT rumination of COFFEE BEANS being spilled on same floor...
Now onto more important things...
SALMON marinade? Please share! :-)
Damn I missed it...
Blogger Police better delete his post as it was only meant for him and his buddy, Ahab. I know how blogspot works, CV.
@karen
Blogger Police is a "tool"
oh, that's perfect.. 24/7 TWILIGHT ZONE !! LOL !!
I'm impressed with that magic!
Now...
SALMON Marinade?
I swear I need this... Because CV has an INTENSE taste for a salmon pasta combo...
BTW...
One of you people is going to have to start thinking of a SUCCESSION PLAN for this blog...
Why?
Because CV's FARM has turned into a PROLIFIC MACHINE...
Pretty soon... I'm going to start a FRUIT & VEGETABLE stand and blow all you MF's off... :-)
nope.. this is a salmon "steak" marinade to grill or broil.. serve as you wish.
1/4 cup apple cider (juice not vinegar!)
6 T soy sauce
2 T unsalted butter
multiple garlic cloves crushed/chopped
2-3 lbs salmon (prefer skin off fat fillets.. or steak cuts)
Combine cider, soy sauce. Bring to a boil and reduce - simmer 3 min.
Add butter and garlic.. cont to cook for ~ 20 min. Let cool..
Pour over salmon and let marinate 20 min.
They are bombing the heck out of Camp Pen again tonight.
Sighing, off to bed. my madness has subsided for now.
thanks k... :-)
OK... Now CV has to go back further...
THE "OPEN" CHAMPIONSHIP
(for wagering afficianados - in prep for NFL season)
Tiger Woods (11-2)
Come on man... I know TW won the last 2 opens here on this course... But that's while he was BANGIN' HOES "at will"... MANHOOD things change in trying to get over the PUBLIC PERCEPTION that one needs to distance that behavior behind them... I'm NOT talking SOCIAL MORALS here... I'm talking BIRDIES, CHAMPIONSHIPS, & CLARET JUGS... No chance...
Lee Westwood (10-1) The "McFearless" pick... CV likes LW a lot... A LOT, I say, A LOT... But not now... He's nursing a lower leg injury... It's hard to play 4 rounds of golf like that... Especially when it's going to be driving rain for 4 days...
Phil Mickleson (10-1) The world has substituted PHIL for TIGER these past 8 months... Rightfully so... WRONGFULLY (only) because "the world" is perceived only to be Americans... There's no doubt in my mind that Phil will SHOW UP here... He's going to be one of my FAVORITES to win the PGA Championship at "Whistling Straits" in Wisconsin...
Ernie Els (13-1) He's probably the guy that I'm OVERLOOKING here that's actually going to win, that I'm not making a case for at the moment...
Rory McIlroy If this were a HORSE RACE and CV needed to compile an "exacta box"... Rory would be IN that box... I still think he's TOO YOUNG to win though (maybe a 2nd or 3rd for young Rory)...
JUSTIN ROSE (14-1) This is CV's horse... No elaboration... I like the guy, I like his golf, I like his chances here...
Padraig Harrington (18-1) He's going to get picked by many... He certainly stands a chance to be on the front page of the leaderboard... His "wide stanced" putting style certainly may benefit him in what may be BRUTAL weather conditions... But in the end he may be JUSTIN LEONARD at "Carnoustie" in 1999...
Other horses? (basically - golfers who CV might end up on the top 10 on the LEADERBOARD come Sunday?)...
- Graeme McDowell
- Ian Poulter
- Luke Donald
- Paul Casey
- Ross Fisher
- Steve Stricker
- Jim Furyk
dollar is taking a pounding.....
JPM cut their loan loss reserves over 50%. Really?
C,
My starting line-up for fantasy Golf this week:
A Group: Els Bench> T Woods
B Group: L. Westwood, Sean O'Hair, Bench> Dustin Johnson, Robert Allenby
C Group: J. Rose Bench> Tom Watson
NEW THREAD
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