A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection
Creditcane™: New highs on no volume. That's one of my illusions. Now imagine what happens when there are no shorts to buy back...
SPXBullish long day. Demolished the last two doji days. Midpoint above EMA(10). Still above the trendlines (3/6/09-7/1//10), (2/5/10-5/6/10) & (4/26/10-8/9/10). Above all SMA's. Above 1110.02 (the .09 fibo from high) and heading for 1151.86 (the .0557 fib form high). New high on daily 3LB (reversal is 1121.90). QE2infinity.
DXYBearish short day. Below all SMA's. Midpoint below EMA(10). Tested and failed its 50% retrace. No daily 3LB changes (reversal is 82.40).
VIXBearish long day. Midpoint below EMA(10). Below weekly 3LB mid and monthly 3LB mid. Still below all SMA's. No daily 3LB changes (reversal is 23.89). Trending down on daily 3LB.
GOLDSpinning top day. Indecision, indecision. How long before BB cries out "No mas!" Still above all SMA's. Midpoint above EMA(10). Made a new 0% retrace. New high on daily 3LB (reversal is 1270.20).
EURUSDSpinning top day. Should have seen more movement. Something's about to give. Midpoint above EMA(10). Testing the 38.2% retrace. Above all SMA's. No daily 3LB changes (reversal is 1.2695).
JNKSpinning top day. Above all SMA's. Midpoint above EMA(10). Tested and failed the 85.4% retrace. New high on daily 3LB (reversal is 39.50).
10YR YIELDBearish short day. The 0.0% fibo retrace at 24.69 has been holding. Still above the 14.6% retrace (26.94) and below the weekly 3LB mid (27.60). Midpoint above EMA(10). No daily 3LB changes (reversal is 24.99).
AUDJPYBullish long day. Now above its 61.8% retrace. Midpoint above EMA(10). Above all SMA's. New high on daily 3LB (reversal is 79.4047).
TLTSpinning top day. Tested and held the SMA(55). Midpoint below EMA(10). No daily 3LB changes (reversal is 102.79). Trending down on the daily 3LB.
DJ TRANS AVGBullish long day. Holding above the upper trendline and all SMA's. Midpoint above EMA(10). New high on daily 3LB (reversal is 4447.44). Trending up on the daily 3LB.
42 comments:
Do you want a bond report or am I banned?
Thank you for the wrap, Jah Amen Ra.
Any type of shooting star/long upper wick doji formation on tomorrows daily stick would be very ominous.
Some serious resistance up on the 10800 mark for YM... may as well tap it, quicker the better.
Havent been watching ES/SPX but I'm sure yall are on it, and its all the same shit in the end anyway.
Bond it Rasta
Jah Righteous Bond Wrap
9.20.10
A quiet day. It was a flattener in govies. Long duration UST notes and bonds may have gained from more European sovereign debt jitters. Greek, Irish and Portuguese bond spreads to German bunds widened today. But everything was bought, IG, HY, and even TIPS. Liquidity finds a home...
Corpies: LQD 0.13%; AGG 0.04%; JNK 0.33%; HYG 0.16%;
Govies: TLT 0.58%; IEI 0.19%; TIP 0.39%
Hedgies: TBT -1.12%
We did nothing today. JNK has had a great run and we expect a pull back soon. TLT is set to bounce and that will set up a great short once again. Remember a stronger dollar/weaker Euro will eventually find expression in buying of USTs while a stronger yen will trigger selling of equities. The EURUSD and the AUDJPY look tired for the time being.
Just a little nugget from the I regarding anniversary dates...
http://en.wikipedia.org/wiki/Black_Friday_(1869)
just for shits and giggles, is anyone else sitting around wondering if C really has in fact performed accounting fraud, the revelation coming just in time for the government (who is here to help people) unloaded all those bloated C shares onto the people?
probably nothing, maybe, but think that through.........that wouldn't play well before an election.
I-Man, this is the 141st anniversary of Black Friday. 141 is a fib number
@Andy T
One thing about CHRIS JOHNSON (other thread)...
He had a great week 1, and last week they played the STEELERS (who play excellent scheme run defense and have had the #1 rushing defense for about the past 6 years in a row)...
That said...
CJ... if you didn't see the game... Had an 85 yard TD run NULLIFIED by a holding call... (otherwise his numbers would have stellar, again)...
The guy is a freak...
I wasn't going to draft him... but I sure wouldn't mind having him on my team...
YOU, MY FRIEND, got totally screwed by "All Day" getting stuffed at the goal line at the end of the game...
On ANY GIVEN SUNDAY... :-)
Ooops I am 3 years too soon. 144 is the number
some other people might not think this is funny, but I thought the whole thing was hilarious once I read this comment:
And he is not sorry at all: "It was the whole reason I tried out (to be Rufus) last year," he told The Post. "I knew we were going back to OSU this year, and I wanted to tackle Brutus." A true American success story, this kid.
http://rivals.yahoo.com/ncaa/football/blog/dr_saturday/post/Video-Ohio-s-mascot-is-a-better-tackler-than-Oh?urn=ncaaf-270984
If I read AT's Scribd right, then the bearish case has been ruled out and we're looking at a rally through mid-October or later.
What a horrible day this has been. The more I lean against these markets, the more I become an indigent misanthrope.
@LB
Post mortem...
I say... "Bond it" as well...
Look - Here's the thing... (CV's "official" stance)...
We "yuck it up" around here because FRANKLY, what the hell else IS there to do besides YUCK IT up in a "MARKETS GONE WILD" WORLD?...
We make do... We try as much as possible to be patient... & express "understandable" amounts of frustration in the process...
But the bottom line is that there are some SERIOUS "traders" and/or "money managers" and/or "insightful technicians" who hang around this blog (two of them are AUTHORS - yours truly, not included in their esteemed level of competence - yet I KNOW class & value when I see it)...
It, (this blog), has evolved through several COFFEE FILTERS of other blogs (I suppose the "grandfather" would be TBP - but in any case, the subsequent ACIDIFICATION or PURIFICATION process has undergone an evolution whereby, at this point, the PRINCIPALS are all those who have either a significant amount of either:
- CLIENT money at stake; or...
- OUR OWN MONEY at stake...
This isn't PRACTICE... This isn't LET'S JOKE and DORK AROUND and share dog & vacation stories...
You get the picture?
So based on an honest consideration of that said, it should be clear that it is VERY IRRITATING for ANYONE to even attempt to assemble others in league...
It's laughable... really...
I mean, you might as well put the DAILY MIRROR in league with THE WALL ST. JOURNAL (When it used to be the Wall St. Journal)...
---
Frankly - I don't even know why one might BOTHER (anymore)... Even for SPORT...
But I admit to letting myself get dragged in to this much too often (as I OFTEN come out with "cheeky" comments that have no value other than to perpetuate that which I espouse to end)...
Why?
I really don't know... My best answer would be this:
My job is that of a journalist... Frankly, I couldn't hold a candle to the trading instincts of karen... The responsibility of ben, or the technical & referential viewpoints of Andy or Amen...
I just write...
I'm the "translator"... I'm the one who makes
11011011010110101101000001001100111110101101101010110101010101101010101010101010011010101010101010101101010100110101010101010101
Look like a foto of Sophia Loren on the screen (by "weaving" the meat grinder of these technical and instinctual viewpoints [which I admittedly STEAL] into a story line)...
I just hope the end product doesn't come out as
- ETHEREAL as TWSWB
- ARMAGEDDON as TD
- *U&K THE MAN ad KD (tho sometimes...)
- TRIANGULAR as Daneric
- DOPEY as wannabees
Then... the READERS can decide where to go for their daily bread...
CV isn't the OVEN... CV isn't the flour or water...
CV is the YEAST...
Happy blogging! :-)
@Nic...
I was going to say... 141/144... lol
I was doing "blog duty" and missed C'MON MAN...
C'Mon Man!
CV takes the 49ers and the points for (1 unit) tonight...
Vegas took most of the publics money yesterday...
and this game is 74% bet on Saints (inside aggregate of Las Vegas SPORTS BOOK wagers)...
But CV still likes to "bet with the house"...
Except when THE HOUSE is Shalom Bernanke & Mullah Obama...
Because CV believes... DEEP DOWN... That the REAL HOUSE is himself and most Americans...
now... CV "off duty" to watch his BEARD & CIRCUSES until halftime...
any other nerds have their telescopes out tonight?
Ok quick test. Take a look at this chart (don't worry what it is) and say if you are bullish or bearish:
http://stock.ly/images/charts/full_eqsz6num.png
Answers in the morning
people see the vix sonar today? was interesting:
http://www.youtube.com/user/optionmonstertv#p/a/u/2/SR8Oz29Q1R8
49ers have looked "game" tonight....
The tough Defense and wind are causing some issues for the Saints. I'm probably 15min behind on the DVR....
I've been a Saints fan since Peyton/Brees showed up....sort of like that team.
That said...hope it's very close tonight...hate a night time blowout...disrupts the bread and circuses.
Also, deep down inside...I'm loving the fact the S&P is heading for upper resistance....these are the moments that "enliven" the soul....when you can get get asshole short the stock market into a huge overbot rally. That's coming up....
>> Ben22 said...
>> any other nerds have their telescopes out tonight?
Whadda ya checking out Ben? Jupiter?
MNF Rant:
Just caught the Brees/Thomas TD....
Jaworski comments: "That's just too easy...that's just pitch and catch there."
Dude. WTF. Yeah, all that seemed easy but they had 5 receivers going out....Brees had to read the whole deal in less than 2 seconds...it wasn't "that" easy....the good ones just make it seem that way.
Instead of filling the air with nonsense...these commentators should just keep their lips sealed for more than 10 seconds...
@Andy
Jaws was just "seeing the field clearly", and "dialing up" a big comment because he is a commentator for the...
"NATIONAL FOOTBALL LEAGUE"...
ror (anyone who watches knows what I'm talking about)...
Here - Here's what some of the platoon thinks about Jaworski... (Jaworski as "Cruiser")...
http://www.youtube.com/watch?v=einZgVrnfG0&feature=related
Another 400 bite the dust... (probably "good news" in Ritzy's warped world)... Sound executive decisions like this are probably why we're OUT OF THE RECESSION...
Bank of America Said to Fire as Many as 400 Employees
http://www.bloomberg.com/news/2010-09-20/bank-of-america-said-to-fire-as-many-as-400-employees-globally.html
http://www.youtube.com/watch?v=9E-WasNzVpI
I've missed you Leftback.
I didn't understand CVs laughably convoluted explanatory post above but I think he said he recognizes class when he sees it and was referencing you in that... so we're all just one happy family again!
Best Bertie
Irish auction well bid this morning, spanish auction less so. They must be grabbing the yield as they have the ECB put in place. Eur and stocks rallied after auction.
No trades for me until FOMC
Nic, all,
Proposition: There's NO way private investors are buying all these European bonds. The only way these countries won't default is if all central bankers just keep printing and buying each others's debt. That's how bond prices are staying high and nominal yields are staying low.
I think I'm a fool for holding any shorts. If central bankers continue what they're doing -- any why wouldn't they? -- then I should be 100% long.
>> an[d] why wouldn't they?
"Whadda ya checking out Ben? Jupiter?"
Wunsacon,
yes, that's exactly what I was doing, Jupiter was very close so even with a pretty basic scope like I have you could see the planet really well last night and the moons, plus our moon was pretty cool to look at last night.
@Bertie
"laughably convoluted"?
Is that how you see it? Well - at least I suppose you're being honest...
It's 8AM right now - So, as I haven't prepared any morning thread for the morning, I'm going to go work on some other "convoluted" thing for all of you to enjoy...
I suppose the Bond Report will be along in the afternoon to "stick save" my wackiness...
Hmmm... While were on the "wackiness" meme... That just inspired me to do a little Jerry Lewis...
Wunsacon,
7:37, I've been saying that for over a year, that anyone saying the Fed can manipulate markets should be nothing but 100% long, it's the only allocation that "makes sense" based on those beliefs, if they are doing anything other than that they can't actually believe what they say about the Fed, though, if you ask most of the people saying such things what they are doing, oddly enough, more often than not they seem to be in cash and bonds.....
so EWI comes to the realization yesterday that this was not a nested 1-2....wow, amazing discovery there guys, maybe they read one of Andy's updates (from June).
today, even the bullish wave analysts are looking for a correction....strange times.
Ben, I haven't owned a scope since I was a kid. I'd actually like to buy -- or make -- a big-ass scope some day. Or, maybe the equivalent of this:
http://www.astronomybinoculars.com/Garrett_150mm_Binocular_Telescope_p/gt150-45.htm
Ben @ 8:08 -- I take some perverse pleasure/reassurance from that dichotomy -- my read is that its just another crack in the matrix. They want to believe that the wizard behind the curtain can fix all their problems, but they have their doubts too. In July of '09, I spent a week with my father's best friend, a very successful investment advisor, picking his brain, learning the ropes in his office, checking out the compliance aspects, etc. The whole experience was bizarre. First, I felt like a college kid again -- I mean, what (then) 38 year old mother of 3 hits her dad up to line up the unpaid internship w/ his friend? But, we'd known these people for a long time, and he's getting up there, so I figured if I really wanted to do this, and I did, that time might be running out. Plus, its a little like spending time with Warren Buffett -- everybody thinks he's great but we've all got our suspicious that he was just in the right place in the right time and benefited from the longest bull run ever. So, the family friend is totally conservative, long only, dividend paying equities kind of guy. Trying to convince me that inflation alone dictates that the Dow is going to a million. On the last day of the week though, he finally confides that he is getting his daughter, who is my age, to apply for dual citizenship with Switzerland (her husband is half Swiss) so that "when the SHTF they can go there." Nice to know he knew it too, but then why are we wasting time debating whether the dow is going to a million?
yeah that looks pretty cool, I hadn't seen one like that like binoculars, looks pretty powerful, I dont use mine as much as I should, but on nights like last night if you have one you gotta use it
My little nerds wanted to try to see Jupiter but it was too cloudy here. We missed the asteroids over the summer too because of clouds...and parental exhaustion.
NEW THREAD
Jennifer interesting story, very interesting, wonder what he tells clients?, its clear that many people think the Fed is in control, but there is a "mood" that for some reason holds them back from taking action on this belief.
I think he keeps them full long all the time...I'm not sure he knows anything else. Plus, transactions incur taxes. He doesn't ever sell anything...ever. Literally. There is only turnover when an investment is acquired.
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