A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection
Creditcane: I'm coming ashore. Batten down the hatches.
SPXSpinning top day. Still below 1078.87 (fib using low). Still below the SMA(21) and below the SMA(233). Midpoint below EMA(10). Back above the weekly 3LB mid. Held the trendline (2/5/10-5/21/10). No daily 3LB changes (reversal is 1096.48). QE2infinity.
DXYBearish short day. Did confirm Fridays hammer. Midpoint below EMA(10). Will it break the SMA(144)…NO 2x. The 85.11 (fibo .1459) has been violated. Now below the 61.8% retrace. No daily 3LB changes (reversal now 83.64).
VIXBearish long day. Midpoint is above EMA(10). Closed below weekly 3LB mid and monthly 3LB mid. "Fear is here so don't get fooled on market pumps. Repeat ad nauseam." Still below the SMA(55),the SMA(21). No daily 3LB changes (reversal is 45.79).
GOLDBearish short day. Below the SMA(21). Tested but held the SMA(89). Midpoint below EMA(10). "To hell with fiat! Say it again! I'm gold and I'm proud!". New low on daily 3LB (reversal is 1206.70).
EURUSDDoji day again. Trying to hold off start of evening star? Midpoint above the EMA(10). Closed above the SMA(89). Held the fib .1459 of 1.2935. Still above the trendline (11/27/09-3/17/10). No daily 3LB changes (reversal now 1.2702).
JNKBearish harami star day. Did hold the 50.0% retrace. Still below the SMA(89) and the SMA(144). Midpoint above EMA(10). No daily 3LB changes (reversal is 39.38).
GSBearish short day. Still above the SMA(55). Back below 147.91 (fib .236). Tested 23.6% retrace (passed). Midpoint above the EMA(10). Tested 144.98 (fib 2.058 from low) and passed. The 1.618 fibo (using low) of 124.12 is on vacation for now. No daily 3LB changes (reversal is 138.06).
10YR YIELDBullish short day. Possible bullish harami. Didn't test the 14.6% retrace (already failed). Midpoint below EMA(10). Still below the SMA(21). No daily 3LB changes (reversal is 29.27).
LUMBERBearish long day. Building permits anyone? Still above the SMA(21). Closed back below the weekly 3LB mid. Midpoint above EMA(10). No daily 3LB changes (reversal is 195.00).
COPPERSpinning top day. Midpoint below EMA(10). Still below SMA(21). Tested 23.6% retrace (failed). No daily 3LB changes (reversal is 311.70).
22 comments:
Thx for the wrappah, Rah!
(Missing your chatter in the intraday, btw... hope that gets straightened out for you.)
Here's a good link for the traders:
http://www.zerohedge.com/article/greatest-traders
Education, education, education.
Think for yourself.
Adapt or Die.
Fail to plan, you plan to fail.
Be like Machine.
Know your tools.
Know Thyself.
Profit & Loss.
In Conclusion:
"The greatest traders work hard to get ahead and even harder to stay ahead. Through increased and niche knowledge they constantly adapt with the market and remain profitable in every environment. Drive, tenacity and the will to succeed is the greatest edge of every successful trader."
From:
www.pivotfarm.com
All of the MSM hype over tech sector earnings. How are they going to spin it this time? Nasdaq Comp's death cross (55/233) has been accelerated by a day.
my impression- Creditcane is ashore- fierce winds but advancing slowly-
Ra-
IBM and TXN miss- not a good sign- the revenue angle-
sales obviously not what were hoped for- shape of things to come?
also- for those interested- BR has a post up now- due to his contrarian nature (imagine me coughing while saying bullshit) he thinks the democrats are going to pull out a win in November-
Independent?
hahahahahahahahahahaha!!!!!!
@ahab: I actually think that might happen. I'm not saying that as someone who's going to participate or even cares at this point, but I could see it happening. It wouldn't necessarily be a vote of confidence for the Dems but merely a look at the other guy/gal/party - the old holding one's nose and pulling the lever kind of thing. I could see just about anything happening at this point. Like I said, I couldn't care less though.
mannwhich-
my point is only BR is sooooooo full of shit- he is hoping and praying for a Democrat win-
that is what he wants- however he posts it- under the contrarian banner-
because he is so independent- cough . . .cough!!
Possibly, ahab. Or perhaps he's just poking YOU guys with a stick this time!
It's like BR farted in a noisy room full of people and he's anxiously looking around pretending it was someone else (or that it won't end up stinking to high heaven)...
Who knows? Maybe he'll do a good acting job... Or maybe it'll just be a popcorn fart...
my impression-
I am way more independent than BR is-
I voted for Ross Perot for crying out loud!!!
LOL
Theme Song
http://www.youtube.com/watch?v=dxLMr784l0Q
Once upon a time you dressed so fine
You threw the bums a dime in your prime,
didn't you?
People'd call, say, "Beware doll, you're bound to fall"
You thought they were all
kiddin' you
You used to laugh about
Everybody that was hangin' out
Now you don't talk so loud
Now you don't seem so proud
About having to be scrounging for your next meal.
How does it feel
How does it feel
To be without a home
Like a complete unknown
Like a rolling stone ?
You've gone to the finest school all right, Miss Lonely
But you know you only used to get
juiced in it
And nobody has ever taught you how to live on the street
And now you find out you're gonna have to get used to it
You said you'd never compromise
With the mystery tramp,
but now you realize
He's not selling any alibis
As you stare into the vacuum of his eyes
And say do you want to make a deal?
How does it feel
How does it feel
To be on your own
With no direction home
Like a complete unknown
Like a rolling stone ?
You never turned around to see the frowns on the jugglers and the clowns
When they all come down and did
tricks for you
You never understood that it ain't no good
You shouldn't let other people get your
kicks for you
You used to ride on the chrome horse with your diplomat
Who carried on his shoulder a Siamese cat
Ain't it hard when you discover that
He really wasn't where it's at
After he took from you everything
he could steal.
How does it feel
How does it feel
To be on your own
With no direction home
Like a complete unknown
Like a rolling stone ?
Princess on the steeple and all the pretty people
They're drinkin', thinkin' that they
got it made
Exchanging all precious gifts
But you'd better take your diamond ring,
you'd better pawn it babe
You used to be so amused
At Napoleon in rags
and the language that he used
Go to him now, he calls you, you can't refuse
When you got nothing, you got nothing to lose
You're invisible now,
you got no secrets to conceal.
How does it feel
How does it feel
To be on your own
With no direction home
Like a complete unknown
Like a rolling stone
CV-
BR is a poser- he likes to think he is independent- but reality-
democrat lever every time- I have never heard him utter one word to make me think otherwise-
in any event- it's irrelevant-
but it still amazes me how he is posting "it's all Bushes fault" links when Obama has carried on the same policies
@ahab
Princess on the steeple and all the pretty people
They're drinkin', thinkin' that they
got it made
Exchanging all precious gifts
But you'd better take your diamond ring,
you'd better pawn it babe
You used to be so amused
At Napoleon in rags
and the language that he used
Go to him now, he calls you, you can't refuse
When you got nothing, you got nothing to lose
You're invisible now,
you got no secrets to conceal.
CV-
a bit of Dylan (not Ratigan!)
a rebellion?
Ahab:
Actually I think Obama is still running against "the establishment" when he has been the establishment for a year and 1/2. I think this is just his general take on society, and why a certain portion of the population still believes what he says.
Some people do their best work when attacking the straw man...the real question is: Are we paying enough attention to call him on it?
This has to be one of the funniest posts I've read in a while.
This is hysterical. Taibbi is one talented dude. This paragraph may rank as my favorite of the whole post:
"In no other country do people genuinely love their bosses the way Americans do. They'll go home after 12 hard hours of capricious superiors peeing in their faces, and the very first thing they'll do is call up some talk radio show and denounce the graduated income tax that gives them a break at their bosses' expense. In other countries bosses need to constantly fend off revolts and strikes; in America people tune in by the millions to cheer on an impetuous, bloated asshole like Donald Trump as he ritualistically fires a succession of sheepish sacrificial stand-ins who are clearly chosen for their resemblance to the target demographic. And The Apprentice was just one of many reality shows where people literally jack off to their own job insecurity!"
http://www.rollingstone.com/politics/matt-taibbi/blogs/TaibbiData_May2010/181073/83512
@BinT (8:47)
I have a theory on exactly what you're asking...
Forgive me for not answering that directly now, but I'm actually working on a THREAD TOPIC on just that...
For now... I'd say... YES... The same question you posed is on peoples minds at the moment... But it waves in and out during the long hot summer...
Couldnt resist... had to dig up some fingerling yukon golds to roast up tonight...
@I-Man
Perfect!
I just dug up a bunch of white & red potatoes I'd put in back March...
I was AMAZED...
Tomatoes are starting to ripen...
And I have CUCES that I don't even know what to do with... My neighbors are VERY happy...
Hee hee heee....
Excuse me if I am wrong, but didn't CRAMER call a BOTTOM in HOUSING in JUNE 2009????
Monkeys pick bottoms...
and yet futures have turned positive. YGBFKM
CV @ 9:52, please don't remind me of Andy's avatar.. but laughing, I know someone who called 666 so can't totally disagree with you there : )
AR, thanks for the wrap.. no worries on those futures.. it's when they are deep in the red that they turn on us.. which reminds me, tomorrow is TT. Good night! Hope to wake up early and happy after a good sleep : )
NEW THREAD
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