So I suppose everybody has heard the news that Snaglepuss Larry Summers is..
Well, here's the OFFICIAL version (or one of 'em)...
Larry Summers leaving White House
The Obamanator remarked: "I will always be grateful that at a time of great peril for our country, a man of Larry's brilliance, experience and judgment was willing to answer the call and lead our economic team. Over the past two years, he has helped guide us from the depths of the worst recession since the 1930s to renewed growth. And while we have much work ahead to repair the damage done by the recession, we are on a better path thanks in no small measure to Larry's wise counsel. We will miss him here at the White House, but I look forward to soliciting his continued advice and his counsel on an informal basis, and appreciate that he has agreed to serve as a member of the President's Economic Advisory Board."
Translation: The stock market has been up all month, I just gave a telethon yesterday, and it was perfectly coordinated with some BS numbers by NBER & POMO activity by the Fed, so it ain't gonna get much better than this going forward...
Larry Summers, the director of the National Economic Council, will return to a teaching position at Harvard University at the end of the year...
In the interim "lame duck" period, and since he already has the proper costume, it's rumored he'll be kickin' it on the DEVO ('De-Evolution '10) World Tour...
"life's a bee without a buzz... It's going great, til u get stung..."
"And let us not forget to toast
everyone who might have missed the boat
And to everybody else who waits
Til the next one sails in again..."
"life's a bee without a buzz... It's going great, til u get stung..."
"And let us not forget to toast
everyone who might have missed the boat
And to everybody else who waits
Til the next one sails in again..."
Whatever Larry... Now that you've JERKED US BACK & FORTH for the 2nd time, don't let the door hit you in the ass as you BEAT IT, back to the Ivory Towers...
Or in your case...
Save Romer some pie for the re-union...
related to Ben's observation that puts aren't cheap:
ReplyDeletehttp://pragcap.com/when-is-steep-too-steep
here's one for y'all..
ReplyDeleteHere is a piece on the subject. It is dated Sept. 16, 2010.
http://www.darrenherman.com/2010/09/16/quantitative-analysis-fantasy-football/
The author of this post has apparently parlayed this into an enterprise.
http://www.varickmm.com/
An excerpt:
“I stumbled across Numberfire (I hate the name) from a friend of mine and did some research and saw that they were recently written up on TechCrunch. Numberfire applies data mining and statistical analysis to determine which fantasy football players to sit and/or start each week… they accomplish this by looking at many different data points that affect a players outcome such as the player itself, his team, his competition, and other factors.”
These guys have been looking at the mining solely in relation to FF. The point is to observe the behaviour(s)*. Frankly, it could be ‘fantasy anything’.
Just an idea.
http://techcrunch.com/2010/09/09/numberfire-gets-scientific-about-fantasy-football-picks/
AAIP
happy birthday, ben!
ReplyDelete72,
ReplyDeletethanks man, appreciate it.
what a morning already, dollar back in the 79's.....
this person Sugarman posted at Dan's last night, I always like this persons posts, often sees things I didn't catch, so maybe this is worth a read:
ReplyDeletehttp://danericselliottwaves.blogspot.com/2010/09/elliott-wave-update-21-september.html#comment-79944875
here's a great headline-
ReplyDelete"Summers' Stature Means Obama Faces Tough Task in Replacing Him"
ok then
. . .and Snaglepuss- talk about bringing back some memories of Saturday morning cartoons
ReplyDelete"will return to a teaching position at Harvard University at the end of the year"
ReplyDeletepfft.
them that can, do
ReplyDeletethem that can't.....
http://noir.bloomberg.com/apps/news?pid=20601087&sid=aWa4fvrZOckY
ReplyDeleteSept. 21 (Bloomberg) -- Payrolls dropped in 36 U.S. states in August, led by Michigan, indicating the labor market will take time to rebound from the worst recession since the 1930s.
Employers in Michigan cut 50,300 jobs last month, the biggest drop since January 2009, figures from the Labor Department showed today in Washington. Texas and California rounded out the three states with the biggest job losses. Joblessness climbed in 27 states, with Nevada reaching a record 14.4 percent rate, the highest in the nation.
@MEH/AAIP
ReplyDeleteThanks for that FF link...
I've often found that the stock "projections" numbers that ESPN & YAHOO uses aren't all that great (and find myself deviating from them all the time in setting rosters)...
A suitable example of this is the fact that I've used the MIAMI DOLPHINS defense already in both games this year, and depending on the league scoring parameters, the DOLPHINS D is, at the moment, the #1 ranked fantasy defense...
Knowing this before the draft, I didn't waste my time taking a D/ST in the regular draft rounds because I knew this would fall to me easily in the last round... Instead, I was able to bolster my squad by taking a better player (or even "sleeper") earlier on...
The Dolphins were playing the hapless Bills in week 1, and then got a chance to step in front of some Brett Favre interceptions in week 2...
I'm starting them this week as well (as I expect Marck Sanchez to revert back to form and toss a few picks as the Jets travel down to Miami)...
One drawback to that site in the link is that most FF leagues are CUSTOM...
The league commissioner sets the parameters on various styles of play...
So while one league may award more points for:
- 10 vs. 20 yards of receiving
- TD bonuses
- big game bonuses (100 yd rushing games & such)
- shutouts
- missed FGS & extra points
There's no way an analysis could get every scenario...
The best they could do would be to consider a DEFAULT scenario and then play an interactive role in plugging in the scenario for your particular league...
I'm in 3 leagues this year, and the parameters are different for each one... Imagine the people with 10 leagues...
Anyway - interesting theory... & it's certainly correct to apply the logic because the Yahoo & ESPN prognostications suck...
Ironically - there is a little EMOTIONAL value to them...
Why?
Because everyone, during the week, looks at the COMPUTER "match-up" for the game...
So let's say you had CHRIS JOHNSON on your team... (or look at it the other way - let's say you were FACING Chris Johnson - which CV was, in 2 leagues in week 2)... Even though they were playing the Steelers, CJ was "projected" for around 19 fantasy points...
So in the MATCHUPS - I had to stare at the screen all week and figure I was going to lose to teams that were going to score 100+ points (because CJ was coming up with 20 of them)...
Frankly - I wouldn't have started CJ (I know that sounds crazy, but it's true - Previous years, I've sat Adrian Peterson, Frank Gore, LT, Brian Westbrook & others, all in their prime)...
Turns out - CJ only came up with 3 points (why? Steelers - Although he did have an 85 yd TD run nullified by penalty)...
Anyway - It's hard to ignore those stupid projections... But in the end you should... It would be like trying to pick a win against the pointspread by using one of those Madden Football simulations...
Entertaining... but bogus...
...Is it possible the term double dip will take over the lead position in the jargon race from unexpectedly?
ReplyDeleteSept. 22 (Bloomberg) -- European industrial orders declined more than economists forecast in July, led by a drop in capital goods such as factory machinery.
Orders in the 16-nation euro area decreased 2.4 percent from June, when they rose 2.4 percent, the European Union’s statistics office in Luxembourg said today. Economists had forecast orders to drop 1.4 percent in July, the median of 17 estimates in a Bloomberg News survey showed. From a year earlier, July industrial orders jumped 11 percent after rising 23 percent in June.
European manufacturers may curb output and hiring as a cooling global economy threatens to undermine exports just as governments step up spending cuts. The European Commission on Sept. 13 forecast the region’s recovery would show a more “moderate” pace in the second half. In the U.S., the world’s largest economy, industrial output weakened in August.
“The global economic dynamic is already past its peak,” said Andreas Scheuerle, an economist at Dekabank in Frankfurt. “We’ll see some cooling in the second half along with weaker output growth even if we’re still far from a double dip.”
"will return to a teaching position at Harvard University at the end of the year"
ReplyDeleteif he does not return before january, he loses his tenure.
sounds like he has no place else to go.
Happy Birthday Ben!
ReplyDeleteI'm thinking this morning will be a good time to close out those October GDX calls. Too bad I'll be using any profits to replace the diamond that fell out of my engagement ring yesterday. I won't be around much since I'll be spending most of the day crawling around on the floor hoping that against the odds I find the darn thing.
Ivy League Football `Mafia' Gives Wall Street a Talent Pipeline
ReplyDeletehttp://www.bloomberg.com/news/2010-09-22/ivy-league-football-mafia-provides-talent-pipeline-to-wall-street-jobs.html
---
See people... If you wonder why we mix so much football into capital markets here... This explains it...
All the Wall St. guys are Ivy league footballers...
jesse's post on summers' departure:
ReplyDelete"After the November elections. Bloomberg television is already lobbying for a Wall Street or otherwise financially connected CEO to take his place.
"Is Bernie Madoff eligible for a work-release program?"
I wonder if coppie nooners would trade Tolbert (so I can handcuff him to Mathews) for Fred Jackson-
ReplyDeletenot much use w/o Mathews-
viable trade?
jesse posted a 9/21 'consumer metrics institute' report:
ReplyDeleteNBER: Double Dip or Banana Split?
"We founded the Consumer Metrics Institute precisely because we felt that the economic bureaucrats in Washington were out of touch with the economy that most of us live in. They remind us of those patients sitting in wheelchairs in the "memory impaired" wards at nursing homes: with crystal clear recall of 1937 but no clue about what they ate for breakfast. Thank you, NBER, for making our case."
"In contrast, we measure what consumers are actually doing on a daily basis."
"...if the 2010 contraction we are now monitoring in consumer demand for discretionary durable goods scales to the full economy as faithfully as the "Great Recession (of 2008)" did, the second dip will, at minimum, be 33% more painful than the first dip and will extend at least half again as long. This, of course, assumes that stimuli comparable to those seen in 2008-2009 will be available to cause such a recovery during 2010-2011. Furthermore, the upturn that we measured in 2008 started when unemployment was still at a 6.1% rate, substantially better than we are observing now. Absent fresh consumer stimuli and dropping unemployment rates, the consumer demand contraction we are witnessing now could very well linger even longer"
Yen already back above its weekly 3LB mid heading for its weekly 3LB reversal at 1.18930. The Japan Finance Ministry should be freaking out about now.
ReplyDelete@ahab
ReplyDeleteLook like Ritzy's having a go at Summers too...
But of course - Ritzy has to find a way - in the end - to Blame it all on Bush...
"The change people voted for never appeared, and the Summers led economic team gave us two more years of Bush bailout policies..."
Um, excuse me, but the Democratic majority in Congress (ushered in, in 2006) had as much, if not MORE to do with bailouts than anyone...
Bush was a lame duck by the issue of bailouts ever arrived...
In fact - the $$ given to GM was basically to BRIDGE the gap between the 2008 elections, and when the new Administration came into office...
It was just the jungle giving Tarzan one last vine so he could make it to the next tree...
Once again... RITZY changing the argument to fit his views...
OK BARRY OK... WE REALIZE YOU HATE BUSH... Most people do, so get in line...
forgot to link to the cmi report
ReplyDelete"September 18, 2010 - Has the Bottom Been Reached?"(scroll down to Commentary, about 1/3 down the page)
thanks Jennifer.
ReplyDeletei didnt' close my shorts yesterday, we'll see how today goes.
@all,
something great just happened. I never had a snuggie but I did want one, as I mentioned I almost bought one several times and always ended up putting it back. Well, someone from the office gave me one today for my b-day, and it's a PSU snuggie!
what a great day so far.
Team Macro-Man doing a cv style post on BB & QE
ReplyDeleteThe Drugs Don't Work
CV-
ReplyDeletemy view- I wanted the TBTF's to get smacked down w/ corporate officers held accountable-
I din't really care who took that initiative- but when Obama nominated Geithner and brought in Summers- I knew that was all out the window-
(you know and I know where BR's sympathies lie)
what about my 9:02?
Was it a "Nittany Lions" print?
ReplyDeleteYour wife is going to be jealous when you start attracting cougars...
http://www.youtube.com/watch?v=PacVvfhEB1Y
@ahab
ReplyDeleteHow am I supposed to know what Coppie Nooners will do?
It's strange to me that although the dollar is getting whacked here...
ReplyDeleteThe call options on UUP haven't really budged much...
I should say... future months OTM (on that)...
ReplyDeletegood morning! (not so much! what a shocker to me to see the dollar like this.. would someone pay back some debt already? without creating new debt? ) but that is what has been happening.. new debt taken on at lower rates to pay off old debt.. no deleveraging yet.. : (
ReplyDeletesee that aussie fly!
ReplyDeletewell I guess the worst that could happen is he could tell me to go eff myself-
ReplyDeleteI can handle that I guess
if the dollar gets cheap enuf, won't someone find it attractive?
ReplyDeleteSLV busted out over its March 2008 high...
ReplyDeleteSomebody remind me again why I shouldn't buy silver coins...
@ahab
ReplyDeleteI offered you a trade for Ryan Matthews the other week...
You should have taken it...
so much for the yen intervention working.. how bizarre..
ReplyDeletehappy birthday, Ben! glad you are having a good day !
mrtopstep
ReplyDelete[08:36:07 AM]: SPZ SB 100x 400 GS bot 200 initial res? 1038 area about 90 locals in pit
CV @ 9:43-
ReplyDeleteno doubt- although a lot of the season is left- w/ Tolbert as a handcuff I'll feel a bit more comfortable
mrtopstep
ReplyDelete[08:45:00 AM]: SPZ buy stops? above 1140.50 area w/next good res 1146 area
Ben
ReplyDeleteHappy birthday!!!
uup to 22? this could get ugly..
ReplyDeletenew high on aapl.. so much for yesterday's candles unless we sell off.. Naz weak overall..
ReplyDeletehttp://slatest.slate.com/id/2268187/?v=1#3
ReplyDeleteAmericans Believe Cutting Deficit Will Help Economy
A majority of Americans think cutting the deficit is a better way to strengthen the economy than government spending, according to a Reuters Ipsos poll released on Tuesday. The poll found that 57 percent support deficit cuts while the economy is struggling.
...'Mericans are soooo close, "missed it by that much"....
..Were it a cancer, you wouldn't decrease it, you would elimate it...cold steel, I believe is the term.
I'd consider trading Sproles for Fred Jackson...
ReplyDeleteCongrats Ben Bernanke... I hope you like your monster...
ReplyDeleteTolbert appears to be the "go to" after Mathews
ReplyDeletemrtopstep
ReplyDelete$ES_F #futures [09:02:59 AM]: SPZ initial sup 1132 area w/ stops ?? under yesterdays low 1131.00
@ahab
ReplyDeleteClassic thinking... But you can't base it on one half of football...
The Chargers were easily handling the hapless Jags... Garrard threw 4 picks which gave the Chargers good field position...
You can "go to" your fullback a lot when you're playing with a half a field...
Happy Birthday Benjamin!
ReplyDeleteHere's wishing you a good one, with a wicked reversal.
Any big plans for dinner?
hey.. did any of you note C's candle yesterday.. ?
ReplyDeleteAAIP...
ReplyDeleteLove that cat!
MY shorts are on, K, but I am stopless.
ReplyDelete"It's strange to me that although the dollar is getting whacked here"
ReplyDeleteCV, the options pits are a bit strange right now to say the least, I'm not sure what to make of it at this point, something is brewing though.
@Ra,
thanks man.
@I,
ReplyDeletethanks, maybe you'll get a TENN snuggie tomorrow.
this comment kills me-
ReplyDeleteIt really does make you wonder if the Fed realizes that so many Americans are in serious trouble and that something has to be done about it.
so what are they going to do? Mail room jobs at the Fed?
today's candle, thus far, is a good compliment to yesterdays C candle...
ReplyDeleteI got a mix going into the slow cooker this afternoon so I'll get to eat that later, it's going to be good, might take an early afternoon and hang with wifey the rest of the day, we'll see how things shape up after 1 or so.
ReplyDelete@mcF
ReplyDeletehappy Birthday... But I caught you earlier in the week...
I-Man too...
Karen,
ReplyDeletethanks for the birthday wishes, or anyone else I missed, you guys are on fire with the posts this morning, I can't keep up.
Garrard-
ReplyDeletethat dude's awesome :-)!!
@ahab
ReplyDeleteThey could all make a giant human pyramid, and let Bernanke stand on top to drop dollars from it (if the helicopter breaks down)...
I ! It is supposed to be gorgeous this weekend! high 70s! 79! today it is 60 with a high of 70 expected.. Hope you are still coming : ) And the ocean is beautiful right now..
ReplyDeleteI prefer unbirthday's myself-
ReplyDeletethere's 364 of those- every day is a celbration
@McF
ReplyDeleteTrade (from yesterday)...
Howie says 'Deal or No deal"?
Gold at new highs, spooz falling, this is pretty much what we expected.
ReplyDeleteOnce BUCKY turns, the barbarous relic will fall hard and USTs will be sold. But it will take a few days and some decent economic data - which we are NOT going to see this week.
Happy b'day, Ben McF.
CV,
ReplyDeleteI can't answer just yet as I put a counter offer out there so am waiting to hear back, I'll let you know for certain by 1 pm.
thanks lefty
ReplyDeleteNic updated her spx chart: http://stock.ly/content/details/3728
ReplyDeleteK,
ReplyDeleteI saw that... Saturday looks amazing.
Flying down tomorrow nite. Stoked fi beach...
am I crazy enough to take a new shot at UUP calls here?
ReplyDeleteI might be....
This is why LB thinks you will be able to hold the JNKy stuff longer than most think:
ReplyDeletehttp://noir.bloomberg.com/apps/news?pid=20601087&sid=a1guMIufbfXg&pos=4
so bad econ data = lower dollar = higher stocks on QE but not the economy.. got it.
ReplyDeleteKaren,
ReplyDeletenot sure if you caught my link this morning, but re: Nics chart, look at some other things line up right around her objective, these come from sugarman at Dan's site:
"Your 1158 around Friday is interesting!
SPX (10 point per day chart)
Tomorrow is the 57th trading day from the 1010.91 bottom. Starting at "0" on that day, the 2x1 time angle advancing up 20 points per day is at 1140 tomorrow, 1160 on Thursday, etc..
It is interesting that tomorrow is the 104th trading day from the 1219.80 top. Counting up 10 points per day from "0" is 1040 tomorrow. Remember the triple bottom was at this level earlier this month. This is a "Death Angle" and is 100 points below the market price currently.
If the market continues higher.....
The high price of 1576.09 was on Oct 11, 2007. Then 648 trading days later the market topped at 1219.80 for a difference of 356.29 points. Tomorrow is the 742nd trading day from the Oct 07 top. The 1576.09-1219.80 downtrendline is at 1161.72 tomorrow, 1161.16 on Thursday.
The 2x1 "time angle" described above will cross the downtrend line early Friday morning in the 1160.50 area."
K,
ReplyDeleteThis is the JOHNNY HOUR. We are headed down, later today, or tomorrow after EXISTING (but not selling) homes.
Yes it's my hour and I wanna buy buy buy.
ReplyDeleteCramer and BRIAN told me to get busy early in the morning and then ignore the market at the close.
ooooo JOHNEEE, so bold and strong....
ReplyDeletealso, here's a short term chart from trade your way out:
ReplyDeletehttp://4.bp.blogspot.com/_l2ArwNnohtQ/TJmFd70JgmI/AAAAAAAAA1M/AA_gVSZt9rQ/s1600/spx+220910.png
3P&ADH?? (short term)
ReplyDeletenew chart in thread
Love it, my short is up, my LQD is up and my divvies are up !!
ReplyDeleteMy LQD is so being sold this week along with some AGG.
Ben, had not seen that.. thanks.. but IF the market continues higher.. it has 1170 all over it in my opinion. but then, i don't think it is headed higher.. : )
ReplyDelete1170-1175 is plausible. That would bring out big sellers...
ReplyDeleteOk Ben... Sugarman is copying my homework.
ReplyDeleteHappy B'day Ben. I gather you have now completed wave 3 of 0. Have fun.
ReplyDeletePrashant
copper reversed up today.. ufb..
ReplyDeleteWatch ye death lines...
ReplyDeleteIts the same on YM as he has layed out for SPX, time wise.
Denninger regarding the Fed and the $-
ReplyDeleteIt would be nice if these clowns would pay attention to the consequences of their acts. That, of course, would require that they cared, and I'm quite convinced they do not.
why would the Fed care about a lower dollar?
I think the BoJ are going to be tested, and so is the low on the 10-year. My guess is that both of those low water marks will hold this week while we have the POMOs, and then will reverse next week.
ReplyDeleteLove being short and not getting ramped....
Prashant,
ReplyDeleteha, yes I have, thanks buddy.
Karen,
ReplyDeleteoh sure, that 1170 range is certainly viable, AT had that in his charts from 9/4 I think was the date....he mapped this out pretty well when few other wavers had it.
You da man AT.
Sell 'em bitchez....
ReplyDeleteGo on, PANIC.... JUMP, you F*ckers...!!!
I,
ReplyDeleteyeah, sugarman also does his/her charts by hand like you do, lot of similarities it would seem between your work. that person only comments when they have something important to say.
if 1134 spx would break i would be one happy girl. and if 1133 would break i would be ecstatic..
ReplyDeleteI say old chap.... that's not awfully sporting....
ReplyDeletehaha Lefty - I was just thinking those exact words...jump, you f*ckers
ReplyDelete"and if 1133 would break i would be ecstatic.."
ReplyDeleteWe are certainly hoping that happens for you, Karen. It would only take a bit of climactic selling for you to achieve ecstasy....
I'm having deja vu in reverse from last summers H&S.
ReplyDeleteGiles you chump...
ReplyDeleteI'm gonna leave dreadprints on your tweed.
Oh, no! CV, our favorite topic/fear:
ReplyDeletehttp://www.zerohedge.com/article/albert-edwards-terminal-competitive-devaluation-nuclear-option-and-how-feds-policies-may-sta
GS under 150 : )
ReplyDeletemrtopstep
ReplyDeleteED_F #option 1st Opt sold 12.5k E2Z 80-83 call sprd at 31 profit taking on the massive long call position in the Green(3yr) Euro$ options
I would think it's almost a foregone conclusion that a huge war is going to happen within 5 years because of all this mess, that's the historical pattern with financial crisis like this.
ReplyDeletehope I'm dead wrong on this one
@McF
ReplyDelete"last summers H&S"...
Perfectly on topic for today...
As "SUMMERS", it would appear, has no neck...
All H&S on that dude...
b22 @ 10:47-
ReplyDeleteI wonder- Japan and China- maybe they'll be going at it-
and Japan's ally- the United States
CV.. check the JNK chart.. !! sitting right there on 39.58.. or the 5 ema.. candles being confirmed for the turn..
ReplyDeleteone of these days that sucker is going to prove to be too good to be true!
$ES_F $NQ_F #futures $SPX
ReplyDeleteBy Top Notch
How about that initial move higher. Ouch!! The s&p opened at 1133.20-1134.50 and really never stopped until a high of 1139.70, just missing that all important upsdie # price of 1140.10. It then does an about face at 9:00a.m.CT and made a new low at 1132.50, holding the all important pivotal level of 1132.20. Now the update says a trade under 1131.60 will continue a move lower as long as its by 10:00a.m CT and it follows thru with new globbex lows. Use caution with this idea. This future is acting very resilent. The nasdaq opens at 1977.00-1979.50, makes a quick low at 1976.50 and blasts off to the 1994.00 price, breaching that daily pivot price of 1898.25 by 6 handles. Now look what's happening. It did retest its opoening range and saw a bounce to the 1983.50, which is its pivotal price, but it needed to take out the globex low of 1974.50 to further erode. This future didn't!! Now watch the 1983.50 price once again. Overall these futures are in need of more downside. The bond opened substainily higher this morning at 132.27 regular session, 132.06 globex. It lead to a high of 133.01, followed with a low of 132.09, which held the globex open. They have since bounced to a retest of the regular session price of 132.27. New highs will test the 133.15 and a trend line price at 133.23. $$
ahab,
ReplyDeleteyeah I just don't know, but I do think China is somehow involved, I'm not sure this war will be all about combat, I keep hearing reports of china hacking into our electrical grid....as an example of what I mean.
Crude knows....
ReplyDeleteKeep an eye on Bucky. He was badly Dented last night.
"I would think it's almost a foregone conclusion that a huge war is going to happen within 5 years because of all this mess, that's the historical pattern with financial crisis like this"
ReplyDelete---
Well isn't it re-assuring that we have the TELEPROMPTER IN CHIEF in a dual role as the COMMANDER IN CHIEF...
My guess is we do the French thing and become surrender monkeys... pass the cheese please...
LB,
ReplyDeleteI see Jeter put his penthouse up for sale in NYC, that'd go well with your new beamer....I think he wants 15 or 20 million....lol.
alan jackson from country music listed his ranch in TN recently for 38 million, sits on 140 acres, I looked at the property, I don't even want to know what the monthly maintenance would run, it has to be insane.
"never stopped until a high of 1139.70, just missing that all important upsdie # price of 1140.10"
ReplyDeleteDon't be a dick for the tick (as Andy T would say)...
One of AT's classic lines.
ReplyDeletetopstep recap: http://www.twitlonger.com/show/65f0i4
ReplyDeleteand regarding war-
ReplyDeleteI'm not sure Europe would get involved in another major war-
I think they would roll over first
gotta roll out- all have a good day
@Mcf
ReplyDeleteQ: What's an "acre"
A: It's when your tooth hurts!
Wish I had added to my shorts on that bounce....
ReplyDeleteK, my shorts are getting larger as you approach 1133 and ecstasy.
Q: What time do Asians visit the dentist?
ReplyDeleteA: 2:30 (tooth-hurty)
I'm still laughing about DL's stopless post yesterday, that was some funny shet.
ReplyDeleteAnyone think we get a big sell-off this week?
ReplyDeleteOr is this all there is?
You know LB wants to see Karen in ecstasy.
I still don't get DL's post.. really.. that or i don't think it is funny.
ReplyDeleteNot sure if we get THE BIG ONE...
ReplyDeleteI'd like to at least see something that pisses off both bulls & bears...
That's kind of the theme I'm expecting...
now i want 1127..
ReplyDeleteI wouldn't mind seeing a test of 1110...
ReplyDeletehard to say lefty, I think it could be just as probable that we go sideways, I'm sitting on these new shorts for now though, those 1170's targets are top of mind though
ReplyDeleteIf the market is, in fact going to go higher, a WEEKLY test of 1110 would not seem like too much to ask for...
ReplyDeleteI'd like to at least see something that pisses off both bulls & bears...
ReplyDeleteNow yer talkin'...
CV.. you didn't comment on JNK! look now..
ReplyDeleteI thought this was good from Neely's site:
ReplyDeleteGiven the similarity of price and time exhibited by each leg of a symmetrical, is that pattern more likely to drift sideways rather than trend up or down?
Answer:
From personal experience, the reverse is more common. Symmetricals are so time-consuming (relatively speaking) that it is nearly impossible for a market to hesitate long enough to complete the entire pattern during one, sideways period. As a result, Symmetricals tend to have a clear, positive or negative drift. The one's I've seen have exhibited a decided upward or downward bias, which makes them difficult to identify, at least initially. Due to their "trendy" nature, they can be difficult to identify early in their development. But, after a Symmetrical passes its halfway point, the extreme price/time similarities that exist between all "same direction" waves makes it difficult to label any other way.
I'd love to see someone attempt a wave count on JNK, what a nightmare, i tried, and I failed.
ReplyDeletethere is an $spx gap at 1110..
ReplyDeleteI wish just one of you were in my office right now, I've been doing my annual compliance training since early this morning, you'd be amazed at some of this stuff, and the things advisors do that get them in trouble.
ReplyDelete1133, Karen....
ReplyDeleteKaren... ???
@ zerohedge, albert edwards piece
ReplyDeletethemosmitsos comment
on Wed, 09/22/2010 - 01:14 #596643
WW III. Bring it. We NEED it. Whole planet is full of worthless people that feel they're entitled to all kinds of things, as a basic matter of fact. Everyone's special. War. Bring it.
Hoping for that 2nd crow on JNK...
ReplyDelete1110 is the 20 ema
ReplyDeleteMy top is the 50.. just sayin..
today is considered Gann day. I didn't know that.
ReplyDeletevery basic of course but TLT is back above the 50 day on this move....
ReplyDelete"1110 is the 20 ema
ReplyDeleteMy top is the 50.. just sayin.."
Yes, Karen, I want your top.... in a trading sense, of course...
years to reach 50 million users:
ReplyDeleteRadio: 38
TV: 13
Internet: 4
iPod: 3
it took facebook less than 9 months to reach 100 million users and iPhone applications took 9 months to have 1 billion users.
interesting.
Sept. 22 (Bloomberg) -- Treasury Secretary Timothy F. Geithner said U.S. banks will be able to adapt to tougher international safeguards by tapping future profits, rather than curtailing lending and choking off the economic recovery.
ReplyDeletehttp://noir.bloomberg.com/apps/news?pid=newsarchive&sid=abECr0AYaZJ4
bat.. he says some really bad stuff.. i follow him on twitter and have almost unfollowed him..
ReplyDelete@McF
ReplyDeleteThose are some interesting comments from Neely...
It pretty much goes along with a general philosophy of mine... Which is...
It was RIDICULOUS to ever think that banks would ever get bailed out, and then, seeing the "error of their ways", would return themselves to an AUSTERE and INCREMENTAL approach to anything...
It's in their very nature to go one way or another NOT SIDEWAYS...
So they'll always take 1000% risk, (and, of course, in the process - engineer 1000% failure)...
But I suppose one has to SEE this type of behavior playing itself out in real life to believe it...
That is what we are seeing...
Tight stops now, just in case Karen doesn't become ecstatic.
ReplyDeleteIt was close there, for a second.... I know she's ready....
Radio: 38
ReplyDeleteTV: 13
Internet: 4
iPod: 3
it took facebook less than 9 months to reach 100 million users and iPhone applications took 9 months to have 1 billion users
KANYE WEST... 1 day - lol
CV,
ReplyDeleteI think Neely might be even smarter than Prechter, dude is on another level. I told Andy the other night I'm a little upset with myself I waited so long to get his book. I wouldn't suggest to anyone getting into waves to only look at orthodox method now that I know this.
Gold got to close to 1300. Had to get knocked down. But not for long.
ReplyDeleteguess i should pick a dto target and put a limit sell up for a few k.. sighing.. son stomping around on stone floors with interview shoes on (ferragamo, cv).. it about to drive me out of my mind. EXCEPT WOW he looks so handsome.. just had me check his tie.. Hugo Boss suit.. geeze.. The other son may now have pneumonia.. : (
ReplyDeletewe still can't really see sellers coming in....I don't like this, may need to close up these shorts....still holding at the moment but I'm going to put a limit now at break-even.
ReplyDeletegood for him, he's going to look sharp for that interview.
ReplyDeletedeja vu... will this be the day we get our 5 down?
ReplyDeletesorry if someone already linked this:
ReplyDeletehttp://market-ticker.org/akcs-www?post=167203
"In a credit-driven monetary system, you can only get "inflation" (in the truest sense, where it flows through to wages and prices, thereby debasing - that is, helping - people pay down indebtedness) if there is credit expansion.
But when the limit of credit expansion is reached (which is known - when "QE" by whatever name is initiated, you've reached that point, as you are then artificially trying to create credit expansion that you are unable to stimulate otherwise) further machinations of this sort do nothing other than bankrupt the population."
Ben,
ReplyDeleteI suppose it has to be asked....have the office secretaries come by for the "group spanking"?
...Just seemed the most inappropriate thing I could ask....:)
@karen (11:29)
ReplyDeleteNot only does that GAP at 1110 show up in daily charts, it shows up in the WEEKLY as well...
I'm sure it'll NEVER get closed... EVER...
Next stop... DOW 36,000, right?
Gann Day...
ReplyDeleteWho Knew?
http://online.barrons.com/article/SB125354476913027971.html
Bruce,
ReplyDeleteha, nah, we keep it clean around here, god forbid a regulator would show up in the middle f that, it'd probably end up on my U-4 somehow.
@Bruce
ReplyDeleteBEN's office...
http://www.youtube.com/watch?v=28W3d3brIf0
Crude is melting away, and even gold softer now.
ReplyDeleteUSTs are still well bid.
CV
ReplyDeleteMUST...PROTECT...1130...OR...HELLO...KATHERINE!!!
this thing needs to break 1130 already
ReplyDeleteCOME ON MAN!
Never mind Katherine... Karen promised to be in ecstasy.....
ReplyDeleteLB is up for that. So to speak...
CV,
ReplyDeleteYou'll see it now on the site but I'm going to pass on your trade offer as I've accepted a different one.
thanks for the offer though, I'm caught up on JC only getting 8 touches last week. lot of season left of course.
Do you need a HUGH HENDRY fix? Here ya go:
ReplyDeletehttp://bit.ly/ddfpM2
These little failed rallies are saying big sell-off day.
ReplyDelete@McF
ReplyDeleteThat's fine...
I've got two guys on a few of my teams...
JAMAAL CHARLES & BEANIE WELLS
That, of course, aren't producing as much as I'd like... But you have to be patient...
Wells hasn't even suited up yet (week 1 & 2)...
And Charles? Actually, he's put out the same numbers as Thomas Jones (on half the attempts)...
The Chiefs probably just want to see what they've got (in Jones)...
Both players are young and will have fresh legs in the 2nd half of the season...
Crunch time...
Brian?
ReplyDeleteBrian??
BRIAN???
Click.
For now I have to make do...
ReplyDeleteHerb Greenberg is talking about that etf issue that Nic's weekend article discussed. Interestingly, Kid Dynamite had a long post on kind of the same issue...it seemed like Herb was almost reading some of it on the air. Back to diamond quest.
ReplyDeleteC,
ReplyDeleteIt was a tough choice, I thought on it a lot last night....I like Charles a lot even though a lot of people aren't too big on him, at any given time with his speed he could really break a long one, I just think for right now the trade I made was the best I could do, we'll see if it works out that way.
TLT carving a right shoulder, LQD closing in on double top.
ReplyDeleteLast chance saloon for bond sellers this week, methinks....
thanks for the HH link Nic.
ReplyDelete@jennifer
ReplyDeleteI hope you find that thing...
Time to pray to St. Anthony!
"Tony, Tony, turn around. Something's lost and must be found."
ReplyDeletethanks NIC! even better!
ReplyDeleteoh no.. did Jennifer loose a diamond? I missed that story..
ReplyDelete@Nic
ReplyDeleteThat's what I was looking for yesterday (full version)... but you found it...
See? St. Anthony works!
fxa just went flat.. uup up..
ReplyDelete@karen
ReplyDeleteThat's exactly how she lost it...
It got "loose"
check the car Jennifer...
ReplyDeletea site for CV: ComingAnarchy.com
ReplyDeleteAnyone piling on here with Mister Shorty's team?
ReplyDeletedeepfoo
ReplyDeleteNetflix, there is no price apparently at which people won't buy the stock. It is my official canary in the coal mine for speculation.
haha.. NFLX apparently had over 21% short.. volume still not reflecting mass covering..
ReplyDeleteRemember the Tony Robbins warning a month ago to get out of the market?:
ReplyDeletehttp://stock.ly/3pbb5p
I'm sure Paul loves that article... pfft.
ReplyDeleteCrude still rolling over, guys.
ReplyDeletelooking at spy daily chart with volume.. looks like yesterday was a distribution day as were two days last week.
ReplyDeleteoops.. thot that posted earlier.. was meeting with a waterproofing contractor..
Crime. These are some of the nicer middle class sections of Brooklyn.
ReplyDeleteCrime in NYC
zh-In other words, following retail's departure, now hedge funds themselves are starting to boycott the market until some semblance of normality returns. We hope the SEC, and the other idiot regulators realize this before their inactivity chases everyone except a few computers and primary dealers out of the market.
ReplyDeletehttp://www.zerohedge.com/article/harvest-returns-25-capital-investors-cities-record-stock-correlations-reason-withdrawing-mar
mrtopstep
ReplyDelete#futures 1128 last we still think down 1121-1123
half a minute ago via web
Karen,
ReplyDeletelast night you suggested checking the Q's, AMZN, etc. candles.
that was a good eye, naz is down much more today so far.
http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=a.xAMIoVV8og
ReplyDeleteRahm Emanuel, President Barack Obama’s chief of staff, is likely to leave the White House before the November congressional elections to run for mayor of Chicago, people familiar with the matter said
Dear F*ckers,
ReplyDeleteAny time you're ready to jump, I'm ready to catch you...
--Spoonman
Wednesday, September 22nd, 2010, 12:13 pm
ReplyDeleteThe Securities Exchange Commission Monday charged a Minneapolis attorney and two San Francisco promoters with fraud after they failed to disclose the financial collapse of a real estate lending fund to relevant investors.
http://www.housingwire.com/2010/09/22/sec-charges-4-with-fraud-after-failing-to-disclose-real-estate-investment-fund-collapse
rut is looking pretty good now on the bearish side, I still prefer the small cap shorts over large caps for now due to the sector rotation we keep seeing but this time around I did both.
ReplyDeletenow I'm at the part where I have to look at a picture and say if it is "secure" or not secure
ReplyDeletethe first picture is of a client tax return sitting on top of an unlocked file cabinet in the lobby of an office
um....secure?
Eisner on Obama's inexperienced team:
ReplyDeletehttp://www.youtube.com/watch?v=q1yrawLd2tE
McF
ReplyDeleteWe are long some divvys which are green (!) and short the RUT.
An awesome day, really.
Have to run for a while. Back for the close.
ReplyDeletenice job leftback, the RUT short is G$$$$ today
ReplyDeletehttp://chart.ly/vscucqm
ReplyDeleteHas the rise of index-linked investing, in part via ETFs, hopelessly distorted the capital markets?
I'll watch the video but I don't think that they have, over the years it would seem that with each new financial innovation people will claim that it's hurting the markets
ReplyDeletethis was true for options, futures, etc.
I still think the dollar move off the recent highs is corrective, not impulsive, but today may have only finished up wave 3 of C rather than C being finished.
ReplyDelete