A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: Currently practicing my Spanish.
SPXSpinning top day (body too small for hammer or taker). Midpoint below EMA(10). Still below SMA(21). No daily 3LB changes (reversal is 1225.85). Still below weekly 3LB midpoint. QE2infinity.
DXYBullish long day. Midpoint above EMA(10). Above the 38.2% retrace at 80.63. Above SMA(89). New high on daily 3LB (reversal is 79.68).
VIXBearish thrusting day. Midpoint above EMA(10). Back below SMA(89). Below weekly 3LB mid and monthly 3LB mid. No daily 3LB changes (reversal is 22.58). Out of the "no fear" zone.
GOLDSpinning top day. Still below SMA(21). Midpoint below EMA(10). New 0% retrace has been holding. No daily 3LB (reversal is 1405.10).
EURUSDBearish long day. Midpoint below EMA(10). Closed below its 38.2% retrace at 1.3129. Still below SMA(89). New low on daily 3LB (reversal is 1.3373).
JNKBullish engulfing day. Still below SMA(55) but above SMA(89). Midpoint below EMA(10). Still failing the Gann 4x1. No daily 3LB changes (reversal is 40.30).
10YR YIELDBearish short day. The 0.0% fibo retrace at 23.59 has held. Failed to retest SMA(144). Heading for its 38.2% retrace (29.91). Midpoint above EMA(10). No daily 3LB changes (reversal is 26.36).
DJ TRANS AVGBullish short day (too much "hair" for hanging man). Still above SMA(21). Midpoint above EMA(10). No daily 3LB changes (reversal is 4924.46).
CRBHanging man day. Midpoint above EMA(10). Still below SMA(21). Above the Gann 2x1. No daily 3LB changes (reversal is 315.25).
IQIBullish short day. Midpoint above EMA(10). Below all SMA's. Now above its 50.0% retrace. No daily 3LB changes (reversal is 12.87).
XRTHanging man day. Midpoint above EMA(10). Still above all SMA's. No daily 3LB changes (reversal is 46.43). Black Friday failure?
EURJPYBullish long day. Below all SMA's. Midpoint below EMA(10). Tested and failed its 23.6% retrace at 1.1121. No daily 3LB changes (reversal is 1.1436).
32 comments:
Thanks, AR.. (for the headache!)
somewhat interesting post and commentary at TBP:
http://www.ritholtz.com/blog/2010/11/resilient-markets/#comments
more good news: The default rate on commercial real estate mortgages held by U.S. banks in the third quarter rose by 0.9 percentage point, one of the smallest increases since the downturn began, according to a report released on Monday by Real Capital Analytics.
Commercial real estate mortgage payments that were late by 90 days or more rose to 4.36 percent in the third quarter from 4.27 percent in the prior quarter, according to U.S. Federal Deposit Insurance Corp figures.
http://www.reuters.com/article/idUSTRE6AS60D20101129
Rockin Out over here:
http://www.youtube.com/watch?v=nPqT031SWT4
@Matthew from the previous thread:
"Warren Buffett does the investor equivalent of telling all of the women at a party that he has a 14 inch cock."
Maybe that's why he had Liz Claman all over him back in the day....
Love Liz Claman....
I hope all is well with people. I still lurk but not much to say anymore. My trading has become much more successful since dropping EWI and picking up GN.
Ben,
I think your question about 5 of C is correct. One last push to really F*CK with bears and lull the bulls into a coozy state of complacency before the holidays. If US Thanksgiving taught us anything is that the tried and true 'myths' of the markets are as useful as Fast Money trading tips. I do not think the Christmas holidays will be quiet on trading floors. Time will tell.
Ra,
I'm thinking tomorrow to be flat or down. The number that shall not be named cannot get closed above before the end of the month. Rocket ship on Dec. 1st (tying in with some 'good' news - lol) only to see the end of it all before the close of next month. I should start writing conspiracy novels - although these days going through the MSM offers much more conspiracy than anything from fiction.
Andy,
Your charts are awesome as usual. Looking forward to Neely's book to follow along with the methology.
*methodology.
@McF (previous thread)
"I think various global wizards can paper over Greece, Ireland, and Portugal,
spain.....not so much..."
---
Bullfights bitchez!
No comments on the Ritzy post?
I have one more wheelbarrow full of sand to dump before dark and then, 'I will be back!'
Karen: CV, do we live in a sick society, or what?! http://finance.yahoo.com/news/Kardashians-sisters-want-out-apf-3029708762.html?x=0
CV: I kno, right!
and these people have how many children??
http://dlisted.com/node/39821/images/brangelinamegamind9.jpg
okay.. back to the wheelbarrow!
"Warren Buffett does the investor equivalent of telling all of the women at a party that he has a 14 inch cock."
Maybe that's why he had Liz Claman all over him back in the day...
---
Actually... CV unearthed a video of WB... and a slumber party with Liz Calman & Becky Quick (discussing Warren)...
(7:20 - 8:30)
http://www.youtube.com/watch?v=yOyWeL2OpMM&feature=related
Karen
Why oh why did I have to read that? "Resilient" my ass. TWO POMO's aka we don't care how you do it but don't let the market crash. Fine. Let them keep it afloat during the holidays. But the first trading day of 2011 will open limit down.
this is the worst rendition EVER!!
http://justjared.buzznet.com/2010/11/29/mariah-carey-o-come-all-ye-faithful-video-premiere/
Karen
You mean they didn't read the details of the card before agreeing to have their name associated with it?
did anyone else enjoy andre johnson beating on cortland finnegan as much as me?
Ben
Let'm play...
Ruh roh: http://market-ticker.org/akcs-www?post=173523
Wikileaks: It Could Take Down a Bank Or Two
The next Wikileaks release will reference a major US bank.
Let me check if I'm playing against AJ these next few weeks in FF to see if he needs to be suspended...
I'll get back to you with my decision forthwith...
Shanghai Composite down over 3%. Word is China may hike interest rates in December. US futures don't approve (ES at low).
@McFear
Most of Houston really enjoyed Andre putting a beatdown on that dude. Having stood/sat next to Andre Johnson for about an hour, I can tell you that having him beat on my face would not feel good in the slightest.
Lot of Applebee's commercials on MNF. What's up with that? Anyone ever been to an Applebee's? Well, they SUCK. Seriously, the food is cheap, but it's shitty.
Arizona Cardinals?!? How bad do they miss one old QB? (Kurt Warner) Geez. That team is pathetic. Larry Fitzgerald has one more season of that garbage before he starts demanding "a change."
Prognostication: Jon Gruden will be coaching somewhere in the next 12 months.
Love these sorts of comments at TBP:
From someone named Julia Chestnut:
"Bear in mind, the middle class has been completely hollowed out at this point: government employees are the last of what used to be the middle class. So of course, I suppose that thoroughness required that they take a smackdown. And Maryland, the District and Virginia have been doing better than a lot of the country — that’s about to change."
She's bemoaning Obama's "freeze" on government employees salaries.
I find it to be a somewhat disturbing comment, but probably something that is 'going mainstream' in America. "The best jobs are in Government. That's where I want to be."
Ugh.
AT-
Applebee's has to be the Worst..
it's too bad Bennigan's went down, instead of them..
~~
AR,
PdP had a good piece, linked to @TBP last week, delineating his 'Risk Off' stance--he was, primarily, pointing at the B, I, and C, in BRIC..
AAIP
Looking like the "number that shall not be named" will hold.
Check this out:
http://news.yahoo.com/s/ap/us_health_care_repeal
Think about this. Every small business in America will probably try to minimize the NUMBER of companies it does business with, in order to lower its paperwork burden. IOW, small businesses will buy more of their products and services from -- wait for it -- BIG businesses.
Big businesses win again! Who'd a thunk it??
Not like they couldn't 've closed loopholes that Google and the Squid use to lower their tax rates to under 10%. NOooo. Our government has to collect more from the little guy.
Stick a fork in us. Our country really looks "done".
wunsa-
ya gotta luv it, when a Plan comes together..
AAIP
>> "The best jobs are in Government. That's where I want to be."
Andy, you know it, bro! And I know it, because I speak from personal experience. Yep. That's right. Old wunsacon now sucks at the government teet.
Previously, I worked for a company run by a "smart" executive who -- obviously worth his high pay -- levered up the company with short-term financing. (What could go wrong, huh??) Sensing an iceberg ahead, I searched for stable employment -- something only the government ecosystem (which includes the Primary Dealers and TBTF banks) now provides. Shortly after I left, my prior company laid off a big chunk of staff.
What can I do?? American labor is fooked! I'm hanging on, hanging onto the only rope I saw within reach. I hope it holds, because in software engineering the music stopped a decade ago and now we're all beating each other up for the remaining seats.
AT-
did you see this/?
Just adding a coffee shop to a neighborhood library so people can feel like they're in Starbucks and ultra hip was apparently too passe a trend for Principal James McSwain of Lamar High School.
Finishing up a week ago, McSwain has thrown out nearly all the books and filled the space they were unnecessarily taking up with couches and coffee and food and told his students that they can access the exciting world of reading through e-books! And if they don't have a laptop of their own and Internet access to do so, they can use one of the laptop computers in the library coffeeshop!
He's even expanded the library coffeeshop hours to 6:30 a.m. to 6:30 p.m. which works great if you're one of those kids with your own transportation and not one who is too young, too poor or with rotten parents who won't let you drive to school yourself rather than riding the bus.
And he's bought 35 new laptops! For a Houston ISD flagship school with more than 3,000 students in it.
A veteran educator who visited the school a few weeks ago said most of the books were already gone by then. "There were a few down one side. They assured me they're getting rid of those as soon as they could. The plan is to turn the whole space into a coffee shop run by students."
Students will be able to access places online such as Questia,
an online resource facility where you can get articles about anything that you want, she told Hair Balls. There's books online, too, but as she put it, the selections are limited. Her reaction:
"I was appalled. I was stunned by the whole thing I can't imagine what he was thinking. I'm assured this is old school thinking and we should just appreciate that they're not old school thinkers."...
http://blogs.houstonpress.com/hairballs/2010/11/lamar_highs_library_ousts_book.php
Morning all from the European trading theatre....
European markets opened DOWN as the EURUSD probed the 1.30 area (insert usual comments about lovely bottoms here). The German unemployment figures came out and that was the end of the sell-off as the EURUSD stabilized and markets headed North (what we here would refer to as a classic TURNAROUND TUESDAY). EURJPY is still well off, so LB sees no chance of a screamer in the US today, markets are likely to grumble along sideways until the EURUSD finds some traction and a modest DGDF gets going again.
In the bond markets, same old story as Italians and Spanish spreads widen further. Presumably The Pope and Berlusconi are buying up CDS on Italian debt using leveraged assets like used Fiats and Popemobiles...
Can't really see any longer term outcome to this other than what we saw in Ireland. But there will be a cessation of hostilities at some point and a relief rally can come at any point. EURUSD from 1.40 to 1.30 so profit taking seems not implausible here.
As you might expect, the DAX is ahead of other European markets, but the wave of buying (short covering) has moderated now. Back more or less to the flat line in the FTSE here as we approach noon. US futures are improving and Treasuries are coming off their low overnight yields. Most Asian markets were down overnight following on the European action, and the JPY rallied for the first time in a long time against USD.
I do think we will see money come out of Treasuries this week and into risk assets as long as tomorrow's ADP number isn't unexpectedly horrible. Not that I believe the 407k claims number last week but the trend is inescapable. The big question is how much of this is seasonal retail hiring, and LB would guess quite a lot. Ghost malls in January, and a mini "double-dip" as Bucky resumes his upward march?
As long as I am not paid in IOU's lefty
...wait a sec, what is a treasury after all?
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