A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection
Creditcane: I've fallen and I can't get up!
SPXBullish short day. Killed bearish harami. Still holding above 1110. Back above the SMA(89) & SMA(144). Midpoint above EMA(10). Still above the weekly 3LB reversal price (1110.88). Above the trendline (3/6/09-5/25/10). New high on daily 3LB (reversal is 1102.66). QE2infinity.
DXYBullish short day. Midpoint below EMA(10). The 85.11 (fibo .1459) has been violated and also 80.95 (fib .09). No daily 3LB changes (reversal is 81.64).
VIXInverted hammer day. Midpoint below EMA(10). Still holding below weekly 3LB mid and monthly 3LB mid. Still below the SMA(89) and below the SMA(144). No daily 3LB changes (reversal is 24.25).
GOLDBullish short day. Above the SMA(21) and the SMA(89). Midpoint above EMA(10). Still above 14.6% retrace. No daily 3LB changes (reversal is 1195.70).
EURUSDBearish short day. Midpoint above the EMA(10). Tested and failed the SMA(144). Holding above 1.2935 (fib .1459). Still above the trendline (11/27/09-3/17/10). No daily 3LB changes (reversal is 1.2988).
JNKBearish short day. Tested and failed the 76.4% retrace. Still above all SMA's. Midpoint above EMA(10). No daily 3LB changes (reversal is 37.72).
GSBullish long day. Closed above the SMA(144). Still above 147.91 (fib .236). Midpoint above the EMA(10). The 38.2% retrace (153.99) was tested and passed. New high on daily 3LB (reversal is 152.58).
10YR YIELDBullish long day. Well below the 14.6% retrace. Almost touched the 0.0% retrace at 28.83 but ran away. Midpoint below EMA(10). Still below the SMA(21). No daily 3LB changes (reversal is 31.14).
DJ TRANS AVGBullish long day. Destroyed the bearish harami. Still trading above all SMA's. Midpoint above EMA(10). New high on daily 3LB (reversal is 4369.71).
LQDDoji day. Above all SMA's. Midpoint above EMA(10). No daily 3LB changes (reversal is 109.62).
LEFTBACK'S BOND REPORT
The Bond Report 8.4.10
Not much good to say about fixed income today as investors abandoned bonds in droves, no not really, but there was probably some selling after a strong week or so in the bond market. Auctions ahead next week, so not unexpected. The 5y got whacked, but that was yesterday's big winner.
Corpies: LQD -0.31%; AGG -0.18%; JNK -0.23%; HYG -0.06%;
Govies: TLT -0.77%; IEI -0.33%; TIP -0.34%
We did nothing, although we remain alert, ready to buy on any deep selling of Treasuries this month. Basically we are totally convinced that interest rate risks remain low here, it's not like we are going to create a million jobs any time soon, right Mr Obama? Yup. Thought not...
22 comments:
AR, you are always one step ahead.. : )
Karen
I do what I can. Do you think they are trying to get the 10yr yield higher before next weeks auction?
CV
AR
LB
Thanks for blog
charts,
comments,
everything!
18
@ CV, right after the olympics you said something about Vancouver r/e.
Today's Globe and Mail has a story,"Vancouver homes market goes cold". www.theglobeandmail.com
145 comments on that story.
45% drop y/o/y.
I have several uncles, residents of Vancouver, with inflated egoes(due ot flipping). I wonder how they fared?
From Canada
It might be old fashioned technical analysis but thats a triple bottom on that 10-yr yield chart ...
on twitter tonight:
"Im not a trader, I just eat a lot"
Nic! the bottom on the ten year is closer to 2! Since July 1, we've gone sub 2.9, FIVE times.. look at the bond price chart and get ready for the 2008 high : )
Yeah you are right Karen. Ashraf just said FOMC next week is gonna kill it too.
cool a wrap with a bond update. $$$.
thanks guys.
Karen,
it strikes me as odd that the majority of the "breaking news" from whatever site you are getting that stuff from is all about people dying....I'm not really sure I understand why that's the breaking news, lots of people die every day.
I find the whole ECRI debate such a complete waste of time....
are we going to double dip, we are, we aren't....blah blah blah,... who cares
distractions
Random rant...
So, BP stock was back above $40 today and it seems like this well is going to get blocked permanently and it seems like they can't find any more oil.
When does Matt Simmons get permanently banned from the airwaves?
Has there been a worst call, ever? From June 9th Fortune article:
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
What do you think is in store for the future of BP?
They have about a month before they declare Chapter 11. They're going to run out of cash from lawsuits, cleanup and other expenses. One really smart thing that Obama did was about three weeks ago he forced BP CEO Tony Hayward to put in writing that BP would pay for every dollar of the cleanup. But there isn't enough money in the world to clean up the Gulf of Mexico. Once BP realizes the extent of this my guess is that they'll panic and go into Chapter 11.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I got this through Casey's Daily Dispatch which is a free daily:
http://www.breitbart.tv/congressman-at-town-hall-the-federal-government-can-do-most-anything-in-this-country/
“The federal government, yes, can do most anything in this country.”
Revolution!
Well, I thought this was another slow day...I am intrigued by the thought that the federal government is going to once again give money to the states to help with a state function, that is paying teachers...
A side effect of this is the erosion of whatever rights the states thought they still had...and next year when there is another massive federal deficit and states need money once again for public employees, we will do.....
And it appears the tax cuts may be continued...
...CV, I think the economic laws of physics have been repealed...there is no equal and opposite reaction..all you do is spend without bringing in the dough...
@McFearless -- that was quite the video. Can't say I agree w/ the McDonalds bonds conclusion in the digest though...if I knew how to trade bonds, I'd buy those over lots of other stuff, starting yesterday.
Andy, that icon is very debonair! it suits you, i think.. : )
I am the Ramsey in this story.. the founder's daughter-in-law..
http://www.sandiegoreader.com/news/2008/jul/09/city-light-1/
Ben, what is movie-esque about that breaking news.. a train derails in India, a plane crashes in Kalamazoo, i get it all.. non-stop, your-number-is-up death every 15 minutes around the globe..
K @ 10:34
Interesting.
check out ARS, such a baller he pays above ask:
http://ny.curbed.com/archives/2010/08/03/business_reporter_pays_over_ask_for_upper_west_side_coop.php
2nd bedroom didn't have it's own bathroom! not good for over $2m
another BreakingNews story but I cut to the link.. another UFO cover-up:
http://www.msnbc.msn.com/id/38566733/ns/technology_and_science-space/?ocid=twitter
DL, you are frightening me with your unexpected comments..
Karen @ 11:08
Nothing mischievous intended.
I was just trying to convey that I had read the article.
And thank you for sharing that bit of personal trivia.
now your seriousness... smiling
see you all tomorrow! i have filled my belly with kashi cookies and pelegrino tonight.. not good!
I'm going to buy more commodities to protect my savings. The way things are going...it looks like currency collapse to me.
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