A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection
Creditcane: Rejected again. Marketman using second squad to try and slow me down.
SPXBullish short day. Swatted down the dragonfly dojis. Still holding above 1110. Still above the SMA(89) & SMA(144). Midpoint above EMA(10). Above the trendline (3/6/09-5/25/10). New high on daily 3LB (reversal is 1115.01). QE2infinity.
DXYBullish short day. I'd say bullish piercing but the first days body is too small. Midpoint below EMA(10). The 85.11 (fibo .1459) has been violated and also 80.95 (fib .09). No test of the 38.2% retrace. No daily 3LB changes (reversal is 81.54).
VIXBullish harami 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 still 24.25).
GOLDSpinning top day (also bearish thrusting). Above the SMA(21) and the SMA(89). Midpoint above EMA(10). Still above 14.6% retrace. No daily 3LB changes (reversal still 1158.60). Tested but failed (again) the weekly 3LB reversal price.
EURUSDBearish thrusting day. Midpoint above the EMA(10). Held the SMA(144). Holding above 1.2935 (fib .1459) and the 38.2% retrace. Still above the trendline (11/27/09-3/17/10). No daily 3LB changes (reversal is 1.3076).
JNKBearish long day (resolved doji lower). Tested and failed the 76.4% retrace. Still above all SMA's. Midpoint above EMA(10). No daily 3LB changes (reversal is 37.72).
GSSpinning top day again (talk about indecision). Still above the SMA(144). Midpoint above the EMA(10). The 38.2% retrace (153.99) is holding. No daily 3LB changes (reversal is 152.58).
10YR YIELDBullish short day. The 14.6% retrace is relegated to history. Barely held 0.0% retrace at 28.17 (new). Midpoint below EMA(10). Still below the SMA(21). New low on daily 3LB (reversal still 30.56).
DJ TRANS AVGBullish long day. Both hanging man days set free. Still trading above all SMA's. Midpoint above EMA(10). New high on daily 3LB (reversal is 4482.09).
TLTSpinning top day. Tested and held the SMA(21). Midpoint above EMA(10). Currently the SMA(55) is acting as support. No daily 3LB changes (reversal is 98.33).
Leftback's Bond Report
Credit markets were in their usual pre-FOMC paralysis. It is really too boring to discuss the day's "trading".
We added to a moderate short Treasury position. We could be wrong, but we have a hunch that too many players are overloaded on the long side, and so we are hedging here, but with the tightest of stops.
What if everyone has already bought into the idea that the Fed will extend the QE? Or what if there is none?
24 comments:
What recession?
got my new Barron's today with big $2 trillion in printing article.
of the many things the numbers game taught me to do, it was to ask
"is it big?" (feel free to use this line LB and DL)
in the face of the debt, you can all decide for yourselves how big $2 trillion actually is....
MONTHLY 3LB RETRACE LEVELS
1186.69 - 100%
1163.92 - 85.4%
1149.88 - 76.4%
1127.11 - 61.8%
1108.70 - 50%
1090.29 - 38.2%
1067.52 - 23.6%
1053.48 - 14.6%
1030.71 - 0%
just throwing this out there for the group, but what makes days like today tough are the facts that while volume was anemic at best the other internals of the market looked just fine in fact.
until this changes I'll just keep buying every decent dip I see intraday and selling before the close
I've been taking two showers a day so I don't feel so dirrty doing this, :)
McFear: When you're rubbing the filth off, just imagine the dollars you're making. It's always OK to make money.
AT,
Did you look at wheat at all during the recent activity? I know you like taking a look at the charts when things get hairy like that.
Also, you still think 1180's could be in the cards?
re: KKR
Why would they do a secondary offering after having an IPO on July 15th?
Doctors
(A) The number of physicians in the U.S. is
700,000.
(B) Accidental deaths caused by Physicians per year are 120,000.
(C) Accidental deaths per physician is 0.171.
Statistics courtesy of U.S. Dept of Health and Human Services.
Now think about this:
Gun Owners
(A) The number of gun owners in the U.S. is 80,000,000.
(Yes, that's 80 million)
(B) The number of accidental gun deaths per year, all age groups, is 1,500.
(C) The number of accidental deaths per gun owner is .000188.
Statistics courtesy of FBI
So, statistically, doctors are approximately 9,000 times more dangerous than gun owners.
Remember, 'Guns don't kill people, doctors do.'
FACT: NOT EVERYONE HAS A GUN,
BUT
Almost everyone has at least one doctor.
This means you are over 900 times more likely to be killed by a doctor than a gun owner!!!
Please alert your friends to this alarming threat.
We must ban doctors before this gets completely out of hand!!!!!
OOPS, Obama already did with Healthcare!!
Out of concern for the public at large, I withheld the statistics on lawyers for fear the shock would cause people to panic and seek medical attention.
Jorge-
what of Doctors who are packing?
dangerous mix there I imagine(-:!
EURUSD has fallen out of its rising channel. It didn't rally with stocks today, I think bucky has dug his toes in and a bigger correction could be underway.
10yr note is up so the yield is dropping again. TG making emergency phone calls advising (no begging) them to stop.
If it isnt a fakey overthrow then we get a retest of 1.30 next anyway and see what happens there.
Of course ... obesity, sugar, lack of exercise, pesticides and poverty aren't killing people ... doctors are.
George,
700k doctors and 120k accidental deaths a year?
I have seen one accidental death in 33 years.
Some people will believe anything if it is put in writing.
(That would mean each doctor would see an accidental death every 5 years, wouldn't it?)
I have a bridge to sell you...
McF,
How big is it?
Hard to know how many physician-induced deaths really occur.
Those who know don't say; those who say don't know.
George, please drop that tired "doctors, guns" half-comparison. If you want to compare one thing with another, to be fair you must perform a cost-benefit analysis of both. The half-comparison only looks at costs, whereas doctors save far many more people's lives than legal gun owners save.
I offer this criticism in the hope you'll find it constructive. Personally, I think private ownership is fine, possibly a net plus. But, the gun lobby irks me with their near single focus. Mark Hoffer, a guy on TBP, regularly posts concerns about our Orwellian government. And Wall Street is strip-mining this country's wealth. But, the gun lobby is worried about being able to buy an assault rifle that they'll never use, except perhaps on the wrong people after their rights, wealth and hope are gone.
Any of you boys ever work in a hospital? Watched an operation? Know what kind of safety procedures are gone over every day?
...The gullible factor seems to be in the water here tonight..
B in T @ 10:58
No, No and No.
Reassuring as those gun accident statistics are ... I still would not go duck hunting with Dick Cheney.
Or cut anyone up on the freeway in Texas ...
Nic
Euro looks to be having problems trying to get back to its rising channel.
NEW THREAD UP
Early because CV is 48 hours w/o sleep...
Acknowledged, Bruce. George's post can be criticized for flaws in both its "logic" and its "facts".
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