As expected, the Eurozone LTRO operation is turning into a nightmare... All CV can say is the FLASH CRASH I was predicting last week is turning into more of a controlled demolition...
Hey, aren't STATE budgets in the US due today also? I know, they're probably in the dumpster with the Federal Budget... Do they actually do anything in CONgress? Oh well, I guess the House passed FINREG overnight... Way to go Pelosi (rolls eyes)...
In any case, Mr. Market is basically saying... Keynesian experiment over... (So expect "double secret" QE2 to come along soon)... Boys - Get your PHD's out and ready to wave at us!
How do you think I'm gonna get along without you when you're gone?
You took me for everything that I had and kicked me out on my own
Are you happy? Are you satisfied?
How long can you stand the heat?
Out of the doorway the bullets rip... to the sound of the beat (Look out)
greenspan did say one thing that was interesting today:
ReplyDelete"thought is that the economy drives the stock market, I think it is in reverse"
even the Fed admits it, but all the Fed worshippers do selective listening, along with selective research.
isn't the queen song saying Decide to Sell Marijuana backwards?
ReplyDeletedouble secret QE2...lol.
Ben,
ReplyDeleteIf you listened carefully he slipped and actually briefly said the reason he kept rates low was to enhance equities. While this was going on, he always denied that...
@McF
ReplyDeleteNo... I think it's saying "Another One Bites The Dust"
interesting Bruce, I missed that, but you are right, I do know that he denied that in the past.
ReplyDeleteI'm just confident in saying these guys have no control and certainly don't have it "figured out"
not even close.
expect "double secret" QE2 to come along soon
ReplyDeleteno doubt- all hush hush-
probably going on right now
@BinT
ReplyDeleteSo, was he trying to irrationally exhuberance himself?
C,
ReplyDeleteUnless I'm losing it, I recall plugging that song into a keyboard playing it backwards and hearing that....maybe I was just high. lol.
TOGA TOGA TOGA!
ReplyDelete@McF
ReplyDeleteThe simple fact that you were trying to play a song backwards speaks VOLUMES on your state of inebriation at that moment...
you've never done that? lol.
ReplyDeletenot even Stairway To Heaven?
ReplyDeleteWouldn't Stairway to Heaven backwards be "Stairway to Hell"?
ReplyDeleteOr Highway to Hell?
ReplyDeletegood morning! laughing !! CV and Ben, neither of you ever sleeps.
ReplyDeletehere is our "unexpected" this morning:
Initial jobless claims unexpectedly increase to 472,000 in latest week, U.S. data show
07/01/2010 08:32:22 AM
Or... YES WE CAN
ReplyDeletehttp://www.youtube.com/watch?v=jqALdkTArqs
if you are sleeping you are probably missing something!
ReplyDeleteCV:
ReplyDeleteAS Ben stated in shorthand with his UFB statement, I can't see why you'd have a generally discredited Fed boss on this late after Bernanke. It is water under the bridge, and most of us practically minded, non-PHD in economics types will always feel that extremely low rates were the reason for the housing bubble....(along with government policy, etc...)
that video is nuts....I gotta test it out with my recorder.
ReplyDeletehumans are nuts.. what a crazy video.
ReplyDeletebut certainly not freddie and fannie bruce
ReplyDeleteas kanjorski said today, they weren't a problem really, and besides, it was republicans fault that happened anyway.
or, you could just say they were like any other bank
either way, all the excuses for the two are complete nonsense.
non-PHD in economics types will always feel that extremely low rates were the reason for the housing bubble.
ReplyDeletebruce- we're just babes in the woods- wide eyed and ignorant- trying to understand the world as best we can-
I wish I had a Phd in economics
@Bruce(9:10) "extremely low rates were the reason for the housing bubble".
ReplyDeleteNot just in the U.S., but on this EARTH!!! Everywhere, from China, India, to Africa. All that U$D borrowed at low rates fuelled the bubbles.
Wall Street doing God's work! Or was it Greenie's doing.
@karen
ReplyDeleteThat's what I'm saying "humans are nuts"...
A person could probably manipulate any sequence of anything and come up with a different meaning...
STOP... OMG if I rearrange the words it becomes POTS!...
What does it all mean? What does it all mean? - lol
alright all I'm out for the day
ReplyDeletegood luck today
Yall see the overnight low print in the ES?
ReplyDelete1016...
Not bad for a pen, ruler, and some gann without a plan...
and anon is right at 9:19, it's global baby.
ReplyDeleteBob Sugar says...
ReplyDelete"Because you're GLOBAL baby... W-O-R-L-D-W-I-D-E"
I am confused. How can futures go positive after such a bad jobs report and horrible numbers out of China?
ReplyDelete(totally sarcastic here - this should be interesting to see how CNBC/MW spin this)
Fed Made Taxpayers Junk-Bond Buyers Without Congress Knowing
ReplyDeletehttp://noir.bloomberg.com/apps/news?pid=20601109&sid=a6WbLuJFUkFw&pos=10
Eur-USD is smokin!
ReplyDeleteBut it could just be the final test of about a 34 day long reverse H&S...
ReplyDelete"mcHAPPY said...
ReplyDeleteI am confused. How can futures go positive after such a bad jobs report and horrible numbers out of China?"
It's simple, only so many peeps can lose jobs until there are no jobs left, we're close to the bottom so we can only go up from that point!?
Embrace the BS McHappy...
ReplyDeletepoor uup! knocked right out of bed this morning.. took gld with it! it all makes so much sense (actually, it does cuz everything seems to be cueing off the euro.)
ReplyDeleteI actually think this is just the final test to see if the Euro can get resurrected...
ReplyDeleteFail this H&S here (which may take thru Monday to complete), and it may be rollover city...
and everyone KNOWS CV's theories on holiday weekends in the US (that are not holidays in Europe)...
ReplyDeleteand what that does to FOREX & commodities...
Propping up the market for ISM. Hoping to get a squeeze in before the selloff commences.
ReplyDeleteI mean... The Euro hasn't even tested it's leading diagonal since mid-April...
ReplyDelete@Amen
ReplyDeleteYeah me too... I was hoping for a little 103.90 on SPY to add a few shorts...
We'll see if we get it...
wtf is wrong with EURUSD?
ReplyDeletePrashant
i love it when i get a headline gone wrong:
ReplyDeleteU.S. stocks defy pressure of jobless-claims data to eke out early gains
07/01/2010 09:48:40 AM
I was doing some longer term charts last night (24 year MONTHLY)...
ReplyDeleteThe FAILURE at 1131 (on a monthly basis) going way back sets up for an ominous H&S...
It basically means the next support of that very long term pattern might be around 736...
@ Prashant
ReplyDeleteToo many shorts.
Did someone get an early look at ISM?
ReplyDeleteMcHappy,
ReplyDeleteThis seems to me to be a set up for another day like we've had the last 6 weeks or so..."strength" or what passes for strength in the morning...and when no buys flood the market in the afternoon, late afternoon weakness going into the bell. If I were a trader like you guys, I think you could have made enough with this trend over the last month to buy Warren Buffet and put him out to pasture!
ISM 56.2% vs exp 59.7%
ReplyDeletePending Home Sales -30%
BANZAI!!!
Pending Homes Sales Plunge 30 Percent in May
ReplyDeleteno shit? Why is that a surprise to anyone?
All the news that is fit to print is horrible this morning:
ReplyDeletehttp://briefing.com/Investor/Public/Calendars/EconomicCalendar.htm
Someone gets an early look at all the data, right Ra?
ReplyDeleteThey're all leaked.
Ahab: it is unexpectedly not a surprise anymore. Except maybe to Krugman.
ReplyDeleteWarren Buffet and put him out to pasture!
ReplyDeletebruce- the dude rode the great credit induced bull market we had for the past 30 years
Where's all the money going?
ReplyDeleteTotal - All Money Market Funds
6/25/08 $3,491,210M
6/24/09 $3,713,332M
6/23/10 $2,817,897M
Timmy to Bernocchio:
ReplyDeleteCan we call it a double dip yet?
Or are we still lying to everyone?
USTs just keep on rolling.
ReplyDeleteWill hedge exposure.. eventually. May see a sell the kitchen sink on the rumour day here ahead of NFP, then a relief rally tomorrow.
Bill Gross sees this as a good environment for HY debt and I think in the short term that is a good trade.
Buffet was long when it was good to be long. Now it isn't and he already admitted in the tech bubble when he wasn't in techs that he only was a one trick pony. Very good at his one trick, but he's on a different stage today, and the applause is running out.
ReplyDeleteCloser look at ISM:
ReplyDeletePMI 56.2 from 59.7
EMPLOYMENT 57.8 from 59.8
NEW ORD 58.5 from 65.7
PRODUCTION 61.4 from 66.6
EXPORTS 56.0 from 62.0
PRICES 57.0 from 77.5
Please make an orderly line to the exit. This is not a drill.
PRICES 57 = you're on the D-train, baby.
ReplyDeleteIf this isn't your train, then it's tough noogies.
If Bucky turns up sharply, commodities are in a world of hurt.
ReplyDeleteOil and gold are already off with DXY down big. Silver looks vulnerable.
"Do you take AMERICAN EXPRESS BLACK?"
ReplyDelete"No... but cash would be fine"
To 1000...
ReplyDeleteConstruction spending was $841.9 billion in May 2010, 0.2 percent below April 2010 and 8.0 percent below May 2009.
ReplyDeleteBinT,
ReplyDeleteThat is my problem. I didn't ride this one. I missed minute 1 of minor 1 as well so here is hoping I get my sh*t together for minute 3!
2.90 10y and 3.86 30y yields. Can't believe what I am seeing...
ReplyDeleteI think my low yield 10y prediction for 2010 was 2.75%.
Likely will lower that...
Yo, Morgan Stanley. 5.5% 10y? Are you out of business yet?
Current low
ReplyDelete10yr 2.892
30yr 3.843
VIX 35.37 and rising
K-A-T-H-E-R-I-N-E!!! K-A-T-H-E-R-I-N-E!!!
you're on the D-train, baby.
ReplyDeleteonly someone w/ a PhD can understand these matters-
hopefully one of the Fed economists can explain it so we can understand
Welcome back, LB... missed ya.
ReplyDeleteMust be that time of the month for Blogger...
ReplyDeletemay be better for DL to go long near 1020... just saying
ReplyDeleteThanks for the warm welcome on my return, blog creatures.
ReplyDeleteI missed you too.... 3.85% on the 30y... TLT running wild.
This has elements of a short squeeze in the long bond.
Pending Homes Sales Plunge 30 Percent in May
ReplyDelete"Housing has officially bottomed".
- Jim Cramer, June 16, 2009
Canadian market closed today. Holiday.
ReplyDeleteAnyone have an ES support level above 1000?
ReplyDeleteI'm short... but could we really go that far this morning?
Ra?
It's like a pachinko machine
ReplyDeleteCramer edit-
ReplyDelete"Housing has officially bottomed- for now- and by the way- when I told you to sell everything- I was joking"
June/16/2009
CV. Thinking about covering all my shorts here@spx1010. what say U?
ReplyDeleteDP
adjusting stops in waterfalls is tough... just keeping up with them is tough.
ReplyDeleteFlash Crash Dos Esta Aqui
ReplyDeleteLOL, CV, why do you even listen to that baffoon!
ReplyDeleteCV, thinking about covering all my shorts here@1010, What u say? DP
ReplyDeleteChief Martin Brody says (to Bernocchio)...
ReplyDelete"We're gonna need a bigger printing press"
@Amen, BP green?
ReplyDeletesorry for double post...
ReplyDeleteDP
Anon
ReplyDeleteThe most beat up get squeezed on days like today.
Si. Y con muy dolor.
ReplyDeleteFrench castle defender says (to Cramer)
ReplyDeletehttp://www.youtube.com/watch?v=M5WuHhVRZcY
@DP
ReplyDeleteunsure?
at least take 1/2
lock in sum profits
don't be a pig
@Amen
ReplyDeleteBP =
Beyond Petroleum?
Beyond Plankton?
Beaten to a Pulp?
BP-
ReplyDeletestill bucking the trend
The market better hold 1000 or it's off to the races.
ReplyDeleteAlso the MSM likes to use ISM Employment as a proxy for NFP. Except today. LMAO.
spy rsi below 30 now, 29.47 or so. important level..
ReplyDelete$spx below 200 ma of 1014, $indu would match at 9500 (actually 9496) and $compq at 2000 (act. 1971)
ReplyDelete@CV, your July 6th date for flash crash is early. Good call.
ReplyDeleteWhat about BTE earning
Blogger - sign of that times, eh.
ReplyDeleteIt's a "controlled detonation" flash crash...
ReplyDeleteClassic "sell the rumour" bear market Thursday...
ReplyDeleteTomorrow should be quiet, unless we break below SPX 1000.
The Death Cross looms.
Just a quick note that TIPS and gold are off together.
ReplyDeleteThat is often a sign of distress, margin calls, liquidation, watch this.
Earnings?
ReplyDeleteWhat do those matter? All books are cooked...
It has no bearing on anything (except to be used as an EXCUSE for non-PhD's to explain to you why the market went up or down that day...
The market better hold 1000 or it's off to the races.
ReplyDeleteXtreme downhill?
Welcome back LB!
ReplyDeleteToday is a bond yield story, USD can't rally with collapsing yields. USDJPY is the fx driver today.
EUR and GBP will be shorts tomorrow
Correlations gone to hell in a handbasket ... tough day
ReplyDeleteLB
ReplyDeleteThe Death Cross may hit sooner than expected because the days leading to Flash Crash One are about to become part of the SMA(50) calculation.
ahab
ReplyDeleteWidows Peak
Two Canadian Bank CEOs getting awarded "Order Of Canada" award today, Canada Day. Royal Bank and TD Bank CEOs. www.globeandmail.com/report-on-business/streetwise blog
ReplyDeleteWhat bullshit! Bailout money.
Clavadista d'Oro™
ReplyDelete@AmenRa (11:18)
ReplyDeleteI was referring to that last week...
We're boinking past 1220... The time to "kick save" anything was last week... Now it's a done deal...
Terry Jacks says...
ReplyDelete"We had joy we had fun we had seasons in the sun"
Eddie Munster says...
ReplyDelete"You talkin' to me Amen?"
DL, i have to ask, buying aapl? or waiting : )
ReplyDeleteWes,
ReplyDeleteThat is a classic. All-time.
Oil and gold, classic leveraged mark-ups. Wonder if Krugman still thinks crude is governed by "supply and demand"? Tool.
"So long, my friend, it's time to die.."
ReplyDeleteSharing total recall of music with CV is... scary.
Leveraged markets. LB is wondering how Cognos is doing...?
ReplyDeleteUsual melt up into the European close. Give it a few minutes after their close before the Wile E Coyote moment.
ReplyDelete@ LB(11:29)
ReplyDeleteShould see Steve Barry at TBP today.
"It's so hard to say goodbye to yesterday..."
ReplyDeleteGreenspan says decline typical of recovery.
ReplyDeleteYou can't make this shit up...
>> Should see Steve Barry at TBP today.
ReplyDeleteI love Steve Barry. With the rampant Fed job though, I feel like he was robbed.
It's like rooting for someone on reality TV and then watching them not win the million dollar prize. (Of course, since I don't watch reality TV, I don't know why I use that analogy.)
New mantra
ReplyDeleteMUST...HOLD...S&P...AT...1000...BEFORE...HOLIDAY
"You'd better run for your life if you can little girl"
ReplyDeleteSteve Barry should have taken the money and run.
ReplyDeleteLB is not doing a thing until we see the last hour. Not the JOHNNY HOUR. The one that matters, the LLOYD HOUR.
BoJ on the bid in USDJPY to stop disorderly appreciation.
ReplyDeleteSqueeze time
Steve Miller says...
ReplyDelete"Go on take the money & run"
BUCKY rally... now who is that bad for... ?
ReplyDeleteHi-ho Silver.... and Copper, the metal with the PhD...
Billy Jack is a detective down in Texas...
ReplyDeleteYou know he knows just exactly what the facts is...
He ain't gonna let those two escape justice...
He makes his living off of the people's taxes...
LB
ReplyDeleteEngland lost because the coach banned butter. Sacrilege.
http://thehealthyhomeeconomist.blogspot.com/2010/06/butter-banning-world-cup-team-gets-boot.html
This bounce has a soggy feel to it, it isn't going to hold.
ReplyDeleteThe SPX 1000 level will be defended like THE ALAMO. Bet on it.
We will defend Japan honor.
ReplyDeleteBart Simpson says...
ReplyDelete"Nobody better lay a finger on my BUTTERFINGER"
Davy Crockett says...
ReplyDelete"You need me in there at SPX 1000 sir?"
Long soiled kimono.
ReplyDeleteThe good news about deflation is that the government can save money on INK not having to print all those zeroes on everything...
ReplyDeleteI've heard of "inflation"... but what is this "deflation" you speak of?
ReplyDeleteNever heard of that before...
i'm dying to know if cstr is going to close the huge gap from magic monday may 3.. it seems to be trying.
ReplyDeletethe upside down cup and handle on jcg is huge.. everything looks scary to me..
ReplyDeletea quick note from stockcharts.. since this is in Murphys's 2004 book, "Intermarket Analysis", I feel I can copy and paste..
ReplyDeleteThe Kondratieff Wave (discovered in the 1920s by Nikolai Kondratieff, a Russian economist) is well known to most technical analysts and describes a "long cycle" of economic activity which lasts approximately 55 to 60 years.
Gordon put the start of "Kondratieff Winter" in 2000. The 2004 book summarized Gordon's view as follows: "The main characteristic of the economic winter is deflation. Stock prices plunge (as do real estate values)...The two best defenses are cash and gold". Gordon refers to the long wave as a "lifetime cycle" because it happens only once in a lifetime (the last time being in the 1930s) and each generation is unprepared for its onset and unfamiliar with its solutions. I might add they don't see it coming either. What's worse, most of Wall Street doesn't seem to recognize that we're in the first truly deflationary environment since the 1930s. Once you understand it, most intermarket trends will make a lot more sense to you.
Hmm... knives or fingers?
ReplyDeleteSticking with the fingers for now.
Not Goldfinger though, he is really having a bad day.
"Wall Street doesn't seem to recognize that we're in the first truly deflationary environment since the 1930s"
ReplyDeleteTheir business is entirely dependent on their not seeing this.
ps. i am eyeing gdx for a buy.. first piece at 47.50ish ? a buy range for me could be 48.50 down to 46.50 or so..
ReplyDeleteKaren, right on top of the base uptrend...
ReplyDeletehttp://dreadcapital.blogspot.com/2010/05/gdx-weekly-annotation-43010.html
another paragraph:
ReplyDeleteDEFLATION SCENARIO... The Introduction to my 2004 intermarket book reviewed relationships that prevailed up to 1998 (which I had explained in my 1991 book on the same topic). One of the paragraphs containing the headline -- "Then Came 1998 and Things Changed" -- which explained that "deflation" played a key role from then on. A later paragraph (p. 52) entitled "The Deflation Scenario" explained that deflationary trends not seen since the 1930s were starting to take hold which would result in falling stocks and commodities with rising bond and gold prices. The biggest intermarket change was the major decoupling of bond and stock prices which has lasted until the present day. One sentence reads: "Market events of 1998 were a dramatic example of ... how bonds and stocks can decouple in a deflationary world". [Last Thursday's article on why falling bond yields were bad for stocks was based on that earlier deflationary theme]. Another explanation for deflationary trends over the last decade comes from Kondratieff Winter which was also described in the 2004 book
Anybody get the feeling that when Europe closes there's going to be a massive dumping of Eur-USD and US equities are going to get beat to a pulp?
ReplyDelete>> a "long cycle" of economic activity which lasts approximately 55 to 60 years.
ReplyDeleteIsn't there a Chinese saying about it taking 3 generations to build, spend, and then squander wealth?? Who should we blame more: (a) the 1st or 2nd generations for not teaching the 2nd or 3rd or (b) the 2nd or 3rd generation for not learning from their parents/grandparents?
I-Man.. exactly. you know how i like to KISS. and very nice chart, btw!
ReplyDelete@wunsacon
ReplyDeleteWe should blame BUSH and call it a day :-)
Karen @ 11:25
ReplyDeleteI almost never buy individual stocks anymore (just ETF's and futures).
But if I WERE going to buy-and-hold an individual tech stock for six months, I think buying AAPL would be a reasonable bet.
For one thing, iPhone sales should surge if it is really true that Verizon and others will be selling it (hell, I might get one).
>> We should blame BUSH and call it a day :-)
ReplyDeleteOh, CV. That's soooo Q1 2010. ;-)
CV, last night i left a comment to you unposted by sheer blogspot dumb luck.. i feel asleep in my dinner dress.. awoke around 1:30 AM to turn out lights and noted my laptop and comment. Thanked my lucky stars and got ready for bed properly !
ReplyDeleteThursday, July 1, 2010
ReplyDeleteMorning Audibles 7.1.10
Sorry... I'm a little late this morning...
....You know, they have a test now for that...turns blue if you are, you know....
Off to salt mine (with open PHYS wounds)... Later, taters!
ReplyDeleteKaren,
ReplyDeleteYou do seem to KISS a lot. You must be very good at it !!
Bush is also responsible for the oil spill.
ReplyDeleteIt was his lax regulatory policies that caused it.
It will live for all time...
ReplyDeletehttp://finance.yahoo.com/banking-budgeting/article/109972/valuations-at-mid-year?mod=bb-budgeting&sec=topStories&pos=7&asset=&ccode=
ReplyDeleteCommentary: The market's P/E ratio is relatively high by historical standards
...Another reason I like Hussman.He's been saying this for months. Not this idiot Rip Van Winkle who slept through the first 6 months of the year, WHEN THE DOW WAS HIGHER, and now wakes up to tell you and me "STOCKS MAY BE OVERVALUED"...
....This is the type of tea leaves reading that makes me want to holler enough already.
@karen
ReplyDeleteOne can only wonder :-)
Oh, I do blame that Bush Administration for nearly EVERYTHING. 9/11 was the missed pass that could have been a game changer.
ReplyDelete12:38 PM ET 7/1/10 | Dow Jones
ReplyDeleteItaly June Car Sales Fall 19.12% On Yr As Govt Incentive Ends
MILAN (Dow Jones)--Italian new car registrations fell for the third consecutive month in June, down 19.12% to 170,625 units, government figures showed Thursday.
The decline was due to the end of a government program that gave financial incentives to new car buyers.
i just checked twitter:
ReplyDeletefundmyfund (aka trader mark)
$$I cannot wait to see $TSLA at $4 in 2013.
9 minutes ago via we
so why are we melting up? i missed something : )
ReplyDeleteI'm sure all of you are eagerly awaiting the release of Bush's memoirs in November
ReplyDeletehttp://blogs.abcnews.com/thenote/2010/04/bush-memoir-set-for-december-release.html
Autographed copies cost only $350.
"The decline was due to the end of a government program that gave financial incentives to new car buyers."
ReplyDeletewhoocoodanoode?
"so why are we melting up? i missed something : )"
ReplyDeleteIt was gay Johnny (from the movie Airplane)...
he was JUST KIDDING...
http://www.cnbc.com/id/37999266/
ReplyDeleteMacDonald: Damage from Gulf Disaster Will Last Lifetime
"This is what was said by oil industry apologists about Prince William Sound after the Exxon Valdez spill. It was untrue then and it will be untrue a year from now.
Despite all the skimmers and sweepers, most of the oil sinks to the bottom or washes up on the shore and then sinks down in shallow layers below the sand, profoundly restructuring the ecosystem. The change cannot be undone in a lifetime."
...This is perzactly the way I look at this spill also. Forget "ecosystems" tripe, try the fact that the oil will linger near the shore or under the sand for years and years. Oyster beds...you better like the taste of WD-40...
Unlike wunsacon, I now get to take the afternoon off from the salt mine. Later taters...
hilarious!! http://www.zerohedge.com/article/imeltup
ReplyDeleteUsual post-Europe close afternoon rally.
ReplyDeleteFails in the last hour. Bears in control again.
DL, coincidentally, i just found this for us!
ReplyDelete"this guy says Apple has potential to fall to $115. While seemingly impossible as this is Teflon Stock #1, it is true that Apple was in the $70s during the panic of 2008. Someone remind me to put the whole portfolio into Apple if it gets below $120."
http://www.fundmymutualfund.com/2010/07/this-guy-really-hates-apple-aapl-as.html
Just had to test a Gann... back to business.
ReplyDeleteLB
ReplyDeleteI was just looking at the FTSE hours to see when the games would begin. 4:30 GMT close time. The melt up kicked off instantly. Jump you f'ers!
Karen @ 1:00
ReplyDeleteOf course, if AAPL drops to $120 because the SPX has dropped to 800, there'll be lots of other places to put money to work.
@DL
ReplyDeleteBut 800 won't happen for, like, 6-7 years right?...
We'll probably drop, like only .18 each day on the S&P until we get there...
Time for a tweet from Mr. TOPSTEP...
ReplyDeleteCV @ 1:11
ReplyDeleteI didn't say it would take that long.
I just didn't think it would happen in the next 18 months... but at the rate we're going, it could be a lot sooner.
Be warned.... I"m short.
ReplyDeleteBoth the DOW and SPX failed to get through yesterdays lows during that mini-melt up.
CV, he has said nothing since yesterday.. at that was that his 16 yo daughter would be working on the floor this summer.
ReplyDeletesomeone say 18?
ReplyDelete1044 lost
1026 still holding, prolly good support/resistance area into next week
1008 never hit
1008 breaks then 954 is next level 18 support
one never knows
In the next 18 months, March '09 lows will look like a great point to get out for buy and holders.
ReplyDeleteI really have no right to say anything though....
Jaycee Dugaard is getting $20 million from bankrupt CA?
ReplyDeletehttp://www.msnbc.msn.com/id/38041101
Karen @ 1:19
ReplyDeleteIsn't the state of CA still paying people to buy houses?
@Karen, J.C. - sad story. Good for her. I wouldn't want any kid to go through her ordeal.
ReplyDelete@ 18
ReplyDeleteWould you mind running those numbers on the es?
anon @1:27.. yes, one of those stories that makes you shake your head.. i read about it in great detail at the tie. however, i just wonder if the state takes out incompetence insurance on it's corrections officials.. our society is so weird!
ReplyDeletetopstep:
ReplyDeletehttp://www.youtube.com/watch?v=6FKw0XuiVP0
"the fundamentals are having their way with the markets." ha ha quote of the day! and remember, i did say i didn't agree with danny yesterday.
ReplyDeletethx for the hookup, K
ReplyDeletewow, don't watch that 100 greatest movie insults video posted at TBP... it will make you feel bad.. i had to shut it down or i would start crying!
ReplyDeleteCV, are you in need of my services again this afternoon? laughing
ReplyDeleteAlways! :-)
ReplyDeletePerhaps the two of you (CV & K) should explore the idea of a video hookup.
ReplyDelete@I
ReplyDeletedon't use on the ES to make my calcs, but after looking at the ES charts, I did see it bounce off 1008 Sep charts this morning. If using the close on my levels, it didn't break 1008. Using high/low then it would show it broke ES 1008.
just reduced! (now only 29.95)
ReplyDeletehttp://www.mcmoniglegroup.com/listing_detail.php?ID=1619&area=newport
well, this is over my head:
ReplyDeletenntaleb - Most feed their obsessions by getting rid of them.
7 minutes ago via web
Today's $vix sonar report:
http://www.youtube.com/watch?v=-Ez4j4mu_jQ
@18
ReplyDelete61.8% fib retrace 1008-1044 would be 1,030.24...
Morning, I mean, afternoon, all! What did I miss? Anything consequential? ;-)
ReplyDeleteDL per your 1:50, yesterday, I had a passerby yell over to my male friend and I at the beach to "GET A ROOM !" I laugh every time I think about it.
ReplyDeleteJeff, thank you so for being gone ! I doubt I could have made the money I did if you were here from the beginning.. I do have more to sell tho so once you've had a look around, maybe you could leave for the last half hour?
ReplyDeletethis will never play out but look at the rev h&s in dto on a weekly chart starting last december..
ReplyDeleteHaha Karen I wish I had half as much fun as you
ReplyDeleteI may duck out again for a workout, karen. I'll let you know when, OK? ;-)
ReplyDeletegoing to take a shot on the long side here...
ReplyDeleteCV... there's your 1030
ReplyDelete@18
ReplyDeleteper my (1:59)... It just tagged 1,030.29