A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection
Creditcane™: You're confused? How do you think I feel when my havoc powers continue to be weakened?
SPXHammer day. Still below the SMA(55). Midpoint below EMA(10). Below the trendline (3/6/09-5/25/10) and the next lower trendline (2/5/10-5/6/10). New low on daily 3LB (reversal is 1083.61). QE2infinity.
DXYBullish long day. It's waiting for something (looks like it found it). Back above the SMA(144). Midpoint above EMA(10). New high on daily 3LB (reversal is 82.29).
VIXBearish thrusting day. Midpoint above EMA(10). Still holding below weekly 3LB mid and monthly 3LB mid. Still below the SMA(89) but above the SMA(144). No daily 3LB changes (reversal is 25.39).
GOLDBearish short day. Still above all SMA's. Midpoint above EMA(10). Still inching higher (a little profit taking perhaps?). No daily 3LB changes (reversal is 1225.00).
EURUSDBearish long day. Midpoint below EMA(10). Still below 1.2935 (fib .1459) and tested the 23.6% retrace. And now testing the 4x1 Gann. It's above the trendline (11/27/09-3/17/10). New low on daily 3LB (reversal is 1.2878).
JNKBullish short day. Back above the 61.8% retrace. It has failed to close gap. Still above the SMA(89) and the SMA(144). Midpoint below EMA(10). No daily 3LB changes (reversal is 37.72).
10YR YIELDBullish thrusting day. Recent gap is still resistance (holding with a vengeance). Actually tested and held the 0.0% fibo retrace at 25.72 (again). Midpoint below EMA(10). Below all SMA's. No daily 3LB changes (reversal is 28.22).
AUDJPYBullish short day. Still below the SMA(55). Midpoint below EMA(10). Had a change of mind and tested the 23.6% retrace at 75.5696 (passed 2x). No daily 3LB changes (reversal is 79.1783).
TLTBearish thrusting day. Way above all SMA's. Midpoint above EMA(10). Currently the gap is support. Resistance found at recent high? No daily 3LB changes (reversal is 102.03).
DJ TRANS AVGTakuri day (or dragonfly doji which happens to work better in uptrends). Tested and held the trendline and the SMA(233). Still below the SMA(55) and SMA(144). Midpoint below EMA(10). No daily 3LB changes (reversal is 4452.13).
LEFTBACK'S BOND REPORT
The Bond Report 8.20.10
A dull day if you just look at the numbers, but a thriller in the pits, I am sure. We opened with the AXE, Axel Weber, chopping a lump out of the Euro and causing the long bond to seek yet another new low yield, but this finally brought out sellers and the yield reversed up sharply in the afternoon. Spreads TIGHTENED by the end of the day, but HY had hung in well even in the morning.
Corpies: LQD 0.18%; AGG -0.14%; JNK 0.31%; HYG 0.24%;
Govies: TLT -0.11%; IEI -0.23%; TIP -0.12%
We added to our hedge in the morning, and then we sat. Is this the beginning of a grind higher for HY? Will LB's SPREAD TIGHTENER bring him more fame and fortune, as did the now-legendary 2s30s FLATTENER? Will the exit of MARQUEE NAMES from the TREASURY SHORT space in macro HFs signal that it is now time to ... SHORT TREASURIES? Will LEFTBACK appear on BLOOMBERG SURVEILLANCE?
Watch this space....
56 comments:
Great day today. Some things you might not know:
There was a study last year, I think in Lancet, that showed that runners get the same arthritis and joint problems that everyone else gets...
BUT, on average they get the problems 15 years later than the rest of the population.
My best friend in M. School sent me an e-mail yesterday..he had a total hip 3 weeks ago. Hell, he's my age! I run 12-15 miles/week and hike and climb and so forth...
I simply couldn't believe it..I was floored. No dove hunt this year...
The five worst habits in fantasy football
Is Yah**'s FF advice better than their Finance robo-headlines?
2nd Hindenburg Omen confirmed...
As explained only in a ZH comment section...
by Village Idiot
on Fri, 08/20/2010 - 15:43
#533685
Really O/T!
Greg Gutfield To Open A Gay Bar Next To Ground Zero Mosque To Cater To “Islamic Gay Men”
by Jon Bershad | 8:23 pm, August 9th, 2010
No, this is not a joke. In fact, it is instead one of the most brilliant pieces of provocations in recent years. Greg Gutfield from Fox News’ Red Eye announced today via his blog that he is actively speaking to investors and plans on opening a gay bar next to the controversial mosque being built near Ground Zero in New York. To make matters worse (better?) the bar will be specifically designed to cater to homosexuals of the Islamic faith. God, this is going to be an exciting block.
Here’s Gutfield’s entire post which he will expand upon during tonight’s Red Eye:
“So, the Muslim investors championing the construction of the new mosque near Ground Zero claim it’s all about strengthening the relationship between the Muslim and non-Muslim world.
As an American, I believe they have every right to build the mosque – after all, if they buy the land and they follow the law – who can stop them?
Which is, why, in the spirit of outreach, I’ve decided to do the same thing.
I’m announcing tonight, that I am planning to build and open the first gay bar that caters not only to the west, but also Islamic gay men. To best express my sincere desire for dialogue, the bar will be situated next to the mosque Park51, in an available commercial space.
This is not a joke. I’ve already spoken to a number of investors, who have pledged their support in this bipartisan bid for understanding and tolerance.
As you know, the Muslim faith doesn’t look kindly upon homosexuality, which is why I’m building this bar. It is an effort to break down barriers and reduce deadly homophobia in the Islamic world.
The goal, however, is not simply to open a typical gay bar, but one friendly to men of Islamic faith. An entire floor, for example, will feature non-alcoholic drinks, since booze is forbidden by the faith. The bar will be open all day and night, to accommodate men who would rather keep their sexuality under wraps – but still want to dance.
Bottom line: I hope that the mosque owners will be as open to the bar, as I am to the new mosque. After all, the belief driving them to open up their center near Ground Zero, is no different than mine.
My place, however, will have better music.”
by Village Idiot
on Fri, 08/20/2010 - 15:51
#533702
To those who are junking this post, I understand if you are unhappy over off topic clutter. For those who are junking because of the content, please elaborate.
by DarkMath
on Fri, 08/20/2010 - 15:55
#533719
I love the post and the idea. But it's a little off topic. But I can tie Islamic Gay Bars and the Hindenburg Omen together thusly.
The Stock Market is about to get drilled in the ass sometime in the next 3 months.
Is a 38% retrace on the dollar enough?
I think a few things
1. Maybe not (enlightening!)
2. Maybe this move up is going to be so powerful it IS going to be enough.
stay tuned
ZH comments can be a hoot! Thanks for cross-posting, CV.
And, hell, I like the idea. We can't and shouldn't stop people from using private buildings/land for religious/cultural uses. But, we can put up counter-cultural centers right next to them. Maybe a women's suffrage museum right next door, too.
Tolerance in the USA: Tolerate my Intolerance!
Bruce @ 6:54.. do you think it is genetic in anyway? I do believe in (and need for my own mental well-being) physical exercise.. I still wonder about hard running tho.. in my case, i would have benefited from moderation..
CV, at 8:53.. I originally tuned that comment out as I know Muslims that are more welcoming, open-eyed, and embracing than half the US populace.. took a second look and got to the last sentence.. Gotta LUV DarkMath !!!
Just in the interests of disclosure, I posted yesterday a link to a Jack Crooks article quoted by Ritholtz who had pointed to it as evidence that Crooks believed long bonds were overbought. Well, for f@$#ks sake I now see that article was written in 2005(!!) so I call that pretty poor form on Barry's part.
By pure coincidence I received a (free) newsletter from Crooks just last nite dealing with bonds, among other things, and which revealed him as currently much more open-minded about bonds.
Bertie
Election day here in Oz.
The outcome may be a barometer on social issues as the (unelected) incumbent is an atheist woman in a de-facto relationship and her main competitor a reactionary rightwing christian f-wit.
My vote went to the third largest party, which is led by a gay man (which is the somewhat tenuous link to the preceeding discussion).
Bertie
Anyway this is a first, posting without a glass of red in hand.
I may rectify that shortly.
B.
LOL! Bertie, I can't last much longer but perhaps you've heard of Kimbra?
http://www.youtube.com/watch?v=yHV04eSGzAA&feature=related
who's doing frou frou drinks?
Bertie, 12:43
ARe you seeking the truth or obscuring it?
bertie -
we'd hardly recognize, or at the very least appreciate, you without it.
in vino veritas.
For Matt Taibbi fans, he did an interview on C-span about FinReg:
http://tinyurl.com/2bj2rkl
. . . . . . . . . .
His article in Rolling stone on FinReg:
http://tinyurl.com/35uo6fn
Ha B22, that was a pretty pompous BR article wasn't it!! I only go over there to find McHugh articles but he seems to have disappeared altogether from the ThinkTank.
Karen, not heard Kimbra but that was a really nice tune.
Can't believe you guys are still awake.
I'll have to google that frou-frou thingy tho.
I think I'm just in an excited mood over our election here, if its Mr Abbott then I'll have to emigrate.
Bertie
crikey mikey, 72bat & DL on line too, frou-frous all round then.
B.
truth, i'm myself a half bottle down on a really exquisite california unoaked chardonnay, a sidecar, and a nightcap of sapphire.
cheers all!
cv -
tks for the ground zero, islamic gay bar story. i'm so down with that. immediately envisoned the whole street lined with 'ecumenical' neighbors, e.g., reformed kkk 12-step outreach. truth, the imam of the proposed mosque probably would be down with that as well.
k -
re tolerant islam, recall reading 'autobiography of malcolm x' and his revelation about the blue-eyed devil when on his hajj he met his first blue-eyed (swedish?) hajji
8 more banks closed today
HAMP comments via CalcRisk:
Debt-to-income ratios
If we look at the HAMP program stats (see page 3), the median front end DTI (debt to income) before modification was 44.8% - the same as last month. And the back end DTI was an astounding 79.7 (about the same as last month).
Think about that for a second: for the median borrower, about 80% of the borrower's income went to servicing debt. And the median is 63.5% after the modification.
These borrowers are still up to their eyeballs in debt after the modification.
Summary:
Another large number of trial programs were cancelled. This will mean more foreclosures (or short sales) in the near future.
A large number of borrowers are still in modification limbo, so there will probably be more cancellations coming.
The program is winding down quickly.
The borrowers DTI characteristics are poor - suggesting a high redefault rate over the next year or two.
Why won't these damn robots just borrow a little more already.
http://www.cnbc.com/id/38789146
Scenes From The 2010 Obama Summer Vacations
"President Barack Obama took his family to the Florida Panhandle for a weekend trip billed as part family vacation, part presidential sales pitch , as he looks to boost the region's sagging tourism industry in the aftermath of the oil spill. More recently the first family took a weekend vacation to Martha’s Vineyard."
Damn! How stupid could I be! I just had an AHA! moment.
"as he looks to boost the region's sagging tourism industry"...I JUST REALIZED ALL THESE DAMN VACATIONS ARE IN FACT, HE IS TRYING TO FILL ALL THESE UNFILLED ROOMS BY HIMSELF!
..I'll do better next time..
More on the mosque:
http://www.thedailyshow.com/watch/thu-august-19-2010/extremist-makeover---homeland-edition
Anyone missing Andy - meet him at the "other blog". Find him at yesterday evening comment section.
wunsacon 8:47-
I caught that the other day- it's amazing how a highlighter and index cards can make someone look like they got it all figured out-
if you saw the whole episode- then you'll know what I am talking about when I say:
Go Team Jesus! lol
@72bat @karen
My bottom line on the whole issue is pretty much everything I've said before... But I'll re-iterate...
- I have nothing against Islamic Faith.
- I have nothing against ANY Faith.
- I have nothing against any LACK OF FAITH (but the thought of that would make me unable to function personally).
As for the "Mosque at GZ"???
- I'm not informed enough to know all the details.
- I'm to understand that it's actually more of a 'community center' rather than Mosque, and that it's actually NOT EXACTLY on GZ (but a block or two removed).
- Either way, it's one of those things that's CLOSE ENOUGH that somebody should say "wait a minute - should be rethink this"?
- People don't tend to think very much, so the idea of "re-thinking" anything is impractical.
- I'm guilty of this behavior myself, in that sometimes on this blog I use "half-truths" to stir the pot.
- I think Americans try to be OVERLY TOLERANT sometimes in the name of freedom & democracy.
- Yet I think that either way (over intolerance, or over liberalism) is going to lead to an ending that nobody wants to see.
- So we muddle along.
- On the "tolerance" issue, I'm fairly confident that if there was a proposal to build a synagogue in Mecca, the idea would be suppressed (ya think)?
- The Islamic culture is breeding more babies than Western cultures.
- In time, they'll have the "voting" majorities in western republics.
- What type of "law" will that bring about?
- You decide... But why do any Americans think it'll be any different than the laws practiced in any of the Islamic states which exist today?
- How do you women feel about that? Women have fought hard for their voice over decades & centuries in western cultures.
- The fight never ends, but has had a lot of success.
- They'd be facing a big step backwards, and should "soberly" consider that likelihood.
- Obama a Muslim? I don't really care because right here, right now, things aren't going to change. This is just "trial balloon".
- Obama a Muslim? C'MON people, just use some common sense. Oh! I see you don't have any, nevermind.
- Obama a Muslim? Who cares?
Now... Onto "other things"... I just like things that make me laugh... So that "comment" exchange at ZH made me laugh...
Some may view it as POLITICALLY INCORRECT, but so what... There are two things that I'm not very fond of in this world:
1. POLITICS
2. CORRECTNESS
"Correctness" is a misunderstood term... They should call it "political POLITENESS"...
I'm an extremely POLITE human being in everyday life...
- I hold doors for people
- I forgive minor trespasses
- I pick up trash EVERYWHERE
- I honor people who have EARNED their titles (such as "ma'am" or "sir")
- You'd NEVER be embarrassed if you invited me to dinner or a party (unless the conversation at the party turned to politics - lol).
As soon as "politicians" start acting "correct" (instead of simply doing favors for their masters), maybe my attitude will eventually change...
Anyway... the FINAL SYNTHESIS here is that when the time comes that SITUATIONS (and the actors involved) stop being "farcical"... At that moment, I'll make my best attempt to treat them SERIOUSLY and THOUGHTFULLY...
Until then... I reserve the right to do the exact OPPOSITE... To make them LARGER CARICATURES OF FARCE than even they themselves ever hoped or imagined to be...
CV
Oh gee look, another Anon trying to start a flame war.
Nobody is missing Andy, he reports here most Sunday's.
You can go back to reading Team Pink now.
BTW...all...
Andy ought to be back on Sunday Evening with his post...
If anybody missed... I'd explained that he was ON VACATION for the past two weeks...
But he should be back from his world travels...
In fact, I know he is because he e-mailed me inquiring about out fantasy football league...
B in T @ 7:38
Florida is worth 27 electoral votes.
Probably also explains the oil drilling moratorium.
@DL
Thomas Jefferson paid less than 3 cents an acre to the French for the entire Louisiana territory...
"Seward's Folly" (Alaska)... How did he know Palin would become governor? was about 2.3 cents a acre...
The "Gadsden Purchase" cost $10 million (about $231,333,333 in todays money)... Which perhaps was wasted tho because the territory is occupied by the same people who would have been there all along... Only now, they're on the US entitlement payroll, thanks to....
Drumroll...
Obama spends TRILLIONS for a couple swing electoral votes here & there...
I wonder, out of all these transactions, who got the better deal (and who might, say, be better off in a role of "community organizer/teleprompter reading seminar keynote speaker")...
I'll continue to mull that over while my pants are being jiggled around by all the dollars that are being sucked out of the pockets by the big vacuum cleaner...
"Hoover" ain't got nothing on this vacuum cleaner"...
Ha. I only visited the other site to see if Mr. Thor could engage in a sustained argument about anything...alas, I was disappointed....
Andy, I hope you have learned a lesson! Looking forward to the latest charts.
mcHappy.
Yeah, I did. It's really bizarre. Some folks don't like the "pointed" questions. I've now commented there once in a few months and instead of debating an issue, he claimed I was stalking him and it was "creeping him out." Of course, he wrote that at 2AM blogger time on a Friday night.
It's a waste of time to try and engage certain folks....especially the ones who, in reality, don't have much to contribute to a discussion.
Lesson learned...moving on.
Charts, charts, charts....some tough ones to figure...it's been a few weeks. Sort of struggling through them right now.
got some nice trees planted in the yard today, they are going to turn a nice shade of red this fall, can't wait to see them.
@mcf (11:13)
"Twas a walk by fruiting"
Hello Folks,
I'm feeling better, got some energy, getting stuck into some charts.
On the subject of bonds Mr Krugman has a little note on his blog today.
Nic, what do you think about silver?
I think it's going to roll-over very soon.
Will I take a position on that view?
This is TBD.......
Nic-
If I were Obama- I would go for broke and try and pass the biggest stimulus on the planet- multi trillions-
what does he have to lose?
and he would solidify his base- they don't give a shit where that money comes from-
modern alchemy
Timelapse video of Perseid Meteor Shower & galactic core of Milky Way seen from Joshua Tree National Park
McFearless
I think silver is about to be an EPIC short. I am just looking for an entry.
The dollar looks to be like its about to take a big leap higher. A lot of commodities are going to be good shorts.
Nic,
well, for my own confirmation bias I am loving these comments. Nothing better than healthy Nic!
Ahab you are funny XXX
http://jessescrossroadscafe.blogspot.com
Jesse has an interesting post/video on ZIRP
The CAD / Loonie
I am getting so bearish this its not funny. I am just waiting for the technical entry.
I posted before about how Ontario where I live has more debt (and less people) than California or Greece. Well I am seeing signs of a real stall here. All anecdotal I know but it really is just like the US was in 2007 / 2008, restaurants that used to be full always have table now, mall carparks always have a space.
I have a friend that owns 5 gas stations where they pump for you. He said that usually customers used to always pay with a $20 or a debit card and credit card payments for gas were rare. Lately he said credit card payments have exploded and he showed me his books to prove it.
Canada is going to shock a few people.
Doug Kass says we aren't rolling over it's time to get longer ...
Morning all, it was an interesting nite in Oz - election over but no winner... and when I think about it none of the parties deserved to win either.
Politics eh, pfffft.
In all probability Tony Abbot (right wing) will group with some of the right-leaning independents and form a government later this week. But he'll never pass a policy as the Senate will be controlled by the left wing.
Oh well, can't let politics upset you o/w you'd spend a lot of time being depressed.
Bertie
nic,
watched the Perseids. Very nice this year. no clouds. This year, instead of leaving the city and driving 50 miles, sat in the yard in a lawn chair.
...Priceless
I'm jealous, Bruce. Our vision was "obscured by clouds".
I had two good nights for the perseid. It was surreal.
Karen - for you:
California home sales down 20% in July
http://www.businessinsider.com/yep-investors-have-panicked-for-three-straight-months-2010-8
Fund Flows Show An Enormous Panic
...It appears the world is becoming Leftback...
Finally found an easy way to show charts of 18 numbers with 18 fibs. Days can be adjusted with the slider on the bottom of the chart. Minutes/hours can be adjusted top left of the chart. Really shows a lot of support/resistance at many of these levels.
18
I am sure you have heard of the motivational guy Tony Robbins.
He has come out with a stock market warning.
Interesting stuff, it is in two parts:
Tony Robbins Economic Warning, part 1
Tony Robbins Economic Warning, part 2
Can't believe that guy (Tony Robbins) is now giving stock market advice.
Everybody's an expert, I guess.
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