AmenRa's Corner

A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection

Creditcane™: Bam! Spliff! Pow! Holy cow BB-man!

Bearish long day. Confirmed bullish thrusting. Midpoint below EMA(10). Still below the trendline (3/6/09-7/1//10). Held 1041.83 (.1459 fibo from high). New low on daily 3LB (reversal is 1071.69). QE2infinity.

Bearish short day. Failed the SMA(144). Midpoint above EMA(10). Daily 3LB reversal down (reversal now 83.31).

Bullish short day. Midpoint above EMA(10). Still holding below weekly 3LB mid but above monthly 3LB mid. Still below the SMA(89). Couldn't get above yesterdays midpoint. No daily 3LB changes (reversal is 25.73).

Bearish thrusting day. Still above all SMA's. Midpoint above EMA(10). Still holding onto gains (heading towards the 0%). No daily 3LB changes (reversal is 1227.00).

Bullish short day. Midpoint below EMA(10). Tested the 23.6% retrace (passed). Still failing the 4x1 Gann. It's above the trendline (11/27/09-3/17/10). Daily 3LB reversal up (reversal now 1.2654).

Bearish long day. Held the 50% retrace. Still failing to close gap. Still above the SMA(89) but below the SMA(144). Midpoint below EMA(10). It's screaming Risk off! Risk off! To hell with "THE FUN". No daily 3LB changes (reversal is 37.72).

Inverted hammer day. May be refusing to go lower. There are two gaps that need to be dealt with. The new 0.0% fibo retrace at 24.69 held. Midpoint below EMA(10). Below all SMA's. No daily 3LB changes (reversal is 27.81).

Doji day. Failed to confirm bullish thrusting (aka down move may have halted). Way below the SMA(55). Midpoint below EMA(10). Held the 14.6% retrace at 74.1352 (again). No daily 3LB changes (reversal is 79.1783).

Spinning top day (with a lot of "hair"). Actually confirmed bullish harami. Still failing the trendline and the SMA(233). Below the SMA(55) and SMA(144). Midpoint below EMA(10). No daily 3LB changes (reversal is 4236.96). Also below weekly 3LB reversal price.

Bearish long day. Tried to close window but failed miserably. Below the SMA(21), SMA(55), SMA(89) and now the SMA(144). Midpoint below EMA(10). No daily 3LB changes (reversal is 235.86).


Leftback said...

The Bond Report 8.26.10

A risk-off day in credit, as investors front ran and followed the 11am POMO and so the 10y and 30y Treasuries were predictably well bid. Corporate spreads were wider especially in shorter duration. Even TIPS had a strong day "on deflation". Makes sense, right?*

Corpies: LQD 0.09%; AGG 0.13%; JNK -0.52%; HYG -0.14%;
Govies: TLT 0.94%; IEI 0.16%; TIP 0.54%
Hedgies: TBT -1.98%

We added a bit of HY. Not involved in Treasuries here, except that we have a little bit of the 5y left. As a bond investor, I am finding the recent love affair of TV talking heads with fixed income in general, and the Treasury market especially, to be most welcome*. Sentiment seems abnormally bullish for a market that most people usually ignore....

* Engage irony detector here

AmenRa said...

All of the talking heads on the MSM are spouting the GDP revision should be 50% or more of the 2.4% estimate. That must mean J6P was bullish and not short enough. Can't have J6P making enough to get comfortable and exiting the market. I wouldn't put it past them to revise it higher. The elections are coming. I need to stop drinking...

Anonymous said...

perusing the previous thread I find this-

"there is no way we go to 450 without a


...just practicing for my fast money tryout

I was screaming when I said that....and I've been tanning."

funny shit there

karen said...

evening! the two links i wanted to post but didn't take on the previous thread..

Deflation: the Neutron Bomb of Balance Sheets

New Jersey Governor Chris Christie Favors Budget Cuts Over New Taxes: Video

He says some amazing stuff here..

Lastly, an OH MY.. for Ben: PIMCO

El-Erian: The bond market is suggesting an outlook for low growth and for disinflation; I think that’s what we’re going to see for a while.

Nic said...

Hello, missed you all today but have new wheels :)

Amen-Ra do we need to include the Hiroshima-Omen (can't remember the name sorry) in the wrap?
My gut for tomorrow says its a non-event and the lows hold ... but I am often wrong

Nic said...

Lookee down on the bottom of this monthly performance chart at cocoa.

I am sure glad I didn't decide to corner the cocoa market this month ;)

karen said...

Nic, Those bar charts are beyond fun!!

AmenRa said...


Your wish has been granted.

karen said...

Interesting about AAPL, AR.. we need to follow that one! thank you! k

AmenRa said...


What's bugging me about AAPL is that the daily and weekly 3LB have the same reversal price. So it's able to meander along and that makes it harder for traders to decide what to do.

CV said...


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