Silver (weekly info)new high 32.92
trend=up
high= 32.92
rev= 29.33; mid= 31.13
Last week was major indecision. Seeing that futures gaped higher on the open the direction has been chosen. The 161.8% from the low of 8.90 was $23.30. We've closed the week above the 261.8% of $32.20. The next minor and major fibonacci's are the 332.8% at $38.52 and 423.5% at $46.59.
Loonie (weekly info)new high 1.0221
trend=up
high= 1.0221
rev= 1.0115; mid= 1.0168
This move higher in the Loonie (Canadian dollar) has not seen reason to stop. It is now above its 76.4% retrace. How does this affect the price of oil that they export to the US? Is this another reason why oil prices continue higher? Canada is the largest importer of oil to the US by far. See http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.html for the top 15 oil exporters to the US.
163 comments:
http://finance.yahoo.com/news/Mass-company-making-diesel-apf-1697852073.html?x=0&sec=topStories&pos=4&asset=&ccode=
"CAMBRIDGE, Mass. (AP) -- A Massachusetts biotechnology company says it can produce the fuel that runs Jaguars and jet engines using the same ingredients that make grass grow.
Joule Unlimited has invented a genetically-engineered organism that it says simply secretes diesel fuel or ethanol wherever it finds sunlight, water and carbon dioxide.
The Cambridge, Mass.-based company says it can manipulate the organism to produce the renewable fuels on demand at unprecedented rates, and can do it in facilities large and small at costs comparable to the cheapest fossil fuels."
...Cold fusion, anyone?
Best moment of Oscar night was when INSIDE JOB won for BEST DOCUMENTARY...
Then the DIRECTOR comes up for his award and reminds everyone that after 3 years, NOT ONE banking executive is doing jail time...
He got a pretty good applause from the crowd for that... But then the place got real nervous (because they weren't sure whether he was going to go on a tirade...
He didn't... But then you could see they wanted to get him off stage rather quickly...
So he gets off, and they go to commercial...
It's a JP MORGAN CHASE commercial!!!
ROR
Only in fucking Hollywood! :-)
Oh... and in the JP MORGAN CHASE commercial, they're falling all over themselves trying to tell you how many millions of people they've kept in their homes, and how they're making loans to small businesses...
I guess that made the FINAL cut over the 'Blythe Masters' silver manipulation commercial...
They should have 'specialized' for Oscars night to say that 'keeping people in their homes', means they should all JBTFD in NFLX...
CV's 'track record' in the past year...
- 5 out of 6 on Oscars picks (with the 'missed' one a coin flip)
- 3 out of 4 FINAL FOUR teams last year
- the Kentucky Derby Winner (Super Saver), in a field of 20 horses
- 'Nosed out' at the wire (Fly Down) in the Belmont
- Preseason pick (Green Bay Packers), win the Super Bowl
- 6 out of 6 correct on Oscars night last night...
---
Nickles bitchez!
Silver bitchez!
Tilapia bitchez!
the "5 out of 6" was LAST YEAR...
6 out of 6 this year
Good morning all! I'm back after a chlorine steeped ong weekend at a waterpark, just in time to find the usual monday morning futures ramp. No doubt to be followed by tomorrow's "first day of the month = new money coming in" ramp. I think 1325 may have already been exceeded. Ah well, it was fun while it lasted.
http://www.foxnews.com/entertainment/2011/02/28/oscars-bomb-james-franco-looks-high-annae-hathaway-overcompensates/
Oscars Bomb: James Franco Looks High, Anne Hathaway Overcompensates
..CV, I think I'd rather watch The View. I guess since you used to work with Madonna, I can understand your interest. A complete non-event for me.
vis-a-vis gristle's
"American life today is a narcissistic cesspool dominated by various forces of infantilization."
coming soon to ben & jerry's line-up?
Breast Milk Ice Cream A Hit At London Store
I guess I'm a little puzzled by the response to the Irish elections. The ruling party only got 8%, and yet this seems to be a non- event. Mish covered this, but Europe seems to think this is going to be a non-event.
Bruce
They're thinking the new government will not default. The question is whether the new government is all talk.
The first five 1-min candles don't look to promising for the bears. But it's not a lock for the bulls.
Andy T
DXY has taken out 76.87 (the 76.82% retrace). So do you wait for a close below or just the fact that it's trading below the number.
good morning! not happy about my hang over.. don't even remember seeing the acceptance speech for Inside Job.. I dreamt about FXE on Saturday night.. UUP going where the chart said it would.. new highs for FXC.. I feel like this is a redo of 2008 in the currency world..
maybe i'm daft but i think the market closes red today. dollar is going to reverse.
EEM nearly back at 46, could be another good buy on EDZ.. gotta wait till all that new money comes in tomorrow tho..
new high on slv..
Here is that word, again, unexpectedly.
Businesses in the U.S. unexpectedly grew in February at the fastest pace in two decades, indicating manufacturing remains at the forefront of the recovery.
http://www.bloomberg.com/news/2011-02-28/chicago-purchasing-managers-index-unexpectedly-climbed-to-71-2-in-february.html
http://dshort.com/articles/Kimble/2011/0228-Dollar-Euro-Update.html
So he gets off, and they go to commercial...
It's a JP MORGAN CHASE commercial!!!
ROR
I missed that... fucking hilarious !!
He might have an accident, though, it happens.
Karen, you are not daft, but I bet you a burger the size of Lefty's ego that it won't be red at the end of the day..
The freeways can be dangerous. Road rage.
We like shorting the piss out of EEM around 46.
We suggest tomorrow - midday to close.
MoMo March MuFu Tuesday. Don't want to be short tonight !!
Rates will rise after the 2y auction tomorrow, so that is Bucky positive and eventually EM negative. Most of these auctions this week will be shit at these rates, the 7y on Thursday will be the best. Usual pattern.
Someone EMish might tighten a bit this week, Vietnam especially looks set to implement a STRONG DONG policy.
I have friends and family.
Mr. TopStep Charts "There's Your RIGHT SHOULDER" http://mrtopstep.com/?p=2659
Last week's "correction" now seems to be just a yawner..
http://finance.yahoo.com/news/A-US-Recovery-Built-on-bizwk-3826874585.html?x=0
A U.S. Recovery Built on Low-Paying Jobs
..Yes, but even the Bush's and the Kennedy's had to start at the bottom...right? I mean, right? Are you saying these new hires won't be the CEO of GS one day?
A U.S. Recovery Built on Low-Paying Jobs
That was always the plan. Unfortunately the jobs are in China and India. A few at McDonalds, I suppose, and my gardeners in New Canaan.
Love the baby!
http://www.ritholtz.com/blog/2011/02/prechter-social-mood-negative-markets-will-soon-follow/
so bizarre to overlay JJC with the Qs, SPY, DIA..
Prechter is calming and pleasant to listen to for me..
so bizarre to overlay JJC with the Qs, SPY, DIA..
We would like to overlay ourselves with you, Mistress.
Danish sailboat with 4 adults and 3 children aboard hijacked in Indian Ocean, heading toward Somalia http://bit.ly/gNwN0U
ONE TRADE = DGDF.
Danish sailboat with 4 adults and 3 children aboard
WHY? So irresponsible.... madness....
Double Top? Not Yet
By Jamie Coleman || February 28, 2011 at 16:33 GMT
Usually when we pullback from resistance we immediately get people screaming “double top!”.
It is way too early to say the stall at 1.3857 (just shy of the 1.3862 level where we peaked early in February) is a double top. To trigger the pattern in classic fashion, we would have to break the low between the two top which is way down at 1.3428.
It is strong resistance however, and has gotten stronger as a result of this pullback. We are down to 1.3792, eying support around 1.3787.
Damn, I am down to #4 now. Need my ho's back:
http://www.bloomberg.com/news/2011-02-27/luke-donald-beats-kaymer-to-win-world-championships-match-play-golf-title.html
DXY bounced off its lows today very close to the October 14th level.
Given JPY and EUR where they are, you'd think BUCKY might rally now.
Yes, you would think so.. and the aussie, where it is.. uup at HOD now but it is still pathetic.
We are about to have a big "upside surprise" jobs report*.
So start placing your bets today and tomorrow.
Bullish UUP, SPY.
Neutral FXI, FXA, USO (demand), CAD
Bearish FXE, JPY, TLT, GLD, SLV, GDX, EEM?
The following week, auctions, so again that's bearish TLT.
* The kicker is it's not really a surprise, and it's the last one....
A bit of statistical variation and the B/D adjustment again.
http://www.economist.com/blogs/buttonwood/2011/02/developed_and_developing_economies
DXY is below trendline (11/5/10-2/4/11) and holding trendline (11/27/09-10/15/10). If it doesn't hold then there is the trendline (3/6/09-3/26/10) around 76.40 and then the low from 11/5/10 at 75.63 as supports.
The über-people may not be noticing the surge in $gaso but real people and small biz certainly are:
http://news.yahoo.com/s/ap/us_gasoline_prices
Would not rule out a raid overnight to jam BUCKY down to kiss the 11/5 low near 75.63 between now and early Wednesday morning before the inevitable bounce. They love to do that shit.
Think like the weasel.
AFIA2BNL
That plus they still haven't come to terms with the last NFP. Blaming it on snow. I just want to know how far labor participation has dropped.
Just realized tomorrow's POMO is at the long end. So don't be hedging or shorting your TLT into that. WAIT UNTIL IT IS OVER.
YIELDS MAY RISE ACROSS THE BOARD TOMORROW, especially in the AFTERNOON. There will be a whisper number for ADP and they will not be running to buy 2y tomorrow unless there is another geopolitical blowup.
Sort of makes sense if we see a lower DXY overnight and early tomorrow and then it rises with yields later in the day. We see that often.
NFP will be the usual hodge-podge of lies, damned lies and government statistics. A +250k headline may mask all kinds of ills. Hours worked is the one we keep an eye on as it isn't fudged.
AR.. look at $crb on the weekly.. makes you wonder how this week will play out.
This is a great day to not participate.... not a chance of a trade today.
We are interested to see what RBNZ does with rates. A cut should be quite stimulative for our shares of NZT. See today's Macro Man for a discussion of whether FX markets have already priced in 50 bps.
this is fascinating!!
The biggest news service in the U.S. is one that almost nobody has ever heard of. Its publisher? The CIA: http://on.wsj.com/hIZp7g
They really do have black helicopters....
there goes the NAZ.. not good for bulls.. Also, was just looking at CAT chart.. rather bearish considering dollar weakness and supposed EM resilience..
Bruce!! I'm looking a bit less daft now..
Personal Income - M/M change 1.0 %
Personal Income - Yr/Yr change 4.6 %
REALLY? I mean is this all BLANKY and GILES?
WTF???
http://www.bloomberg.com/news/2011-02-28/currency-wars-retreat-as-fighting-inflation-makes-emerging-markets-winners.html
Today will be a bot fest. Pass...
http://www.bloomberg.com/news/2011-02-28/-big-short-author-lewis-is-sued-for-defamation-by-harding-advisory-s-chau.html
$rut down equally to $compq
a falling knife, NFLX
The criminals are really emboldened. These people will be first into the tumbrils when Madame La Guillotine comes to town:
http://www.bloomberg.com/news/2011-02-28/-big-short-author-lewis-is-sued-for-defamation-by-harding-advisory-s-chau.html
a falling knife, NFLX
No thanks...
Bank of America (BAC: 14.1989 -0.01%), Wells Fargo & Co. (WFC: 32.20 -0.62%), Citigroup (C: 4.71 +0.21%) and JPMorgan Chase (JPM: 46.58 -0.21%) stand to lose billions of dollars this year as the banking giants deal with an onslaught of consumer and investor lawsuits associated with troubled mortgages and foreclosures, among other problems.
Charlotte-based Bank of America said expenses tied to litigation and regulatory issues could cost the bank as much as $1.5 billion in 2011. The bank spent more than a $1 billion last year on legal and regulatory issues, according to filings with the Securities and Exchange Commission.
http://www.housingwire.com/2011/02/28/big-four-banks-brace-for-billions-in-potential-losses-from-lawsuits
Once GOOG got into streaming movies NFLX problems multiplied exponentially.
The face that launched a thousand songs has passed away:
http://www.bbc.co.uk/news/entertainment-arts-12596761
Imagine the energy of the village in the early 60s.
"There was music in the cafes at night
and revolution in the air..."
Tangled up in Blue....
We will see another 60s. It will be here before the establishment is ready for it, as usual. Someone will make a big mistake and it will all go off. It might even begin this summer. Look at Wisconsin.
karen
CRB appears to be a hanging man. It even has the gap higher requirement. BUT the previous candle ws not a long candle and the hanging man candle was a higher close. This week gapped even higher which weakens the hanging man candles bearishness. A gap down at this weeks open would have been better.
@AT,
If reading, a question on how you interpret the move this morning, would greatly appreciate any input:
the gap up was sharp enough today despite stopping at common resistance that it probably rules it out as a second wave since the retracement is so large, suppose it would be better as a b-wave with a C wave down to come, hard to imagine after that move last week it would be a one legged corrective. We never reached the 134.69 pivot on SPY, so I took a short almost at the exact high today.
What I'm curious to get your thoughts on is the state of the larger B wave we are looking for an end for to top the March 09 rally.
Neely has this move now labeled as X? and I get the impression this rally today makes him lean that the B-wave is not over. One thing I've considered that could be hard about this decline is that it may appear corrective all the way down.
I think it would have been more of a nail in the coffin if that pivot high was taken out but it wasn't.
What do you think?
This can't be significant - it is Mu Fu day tomorrow.
AT,
further on my 1:27
the dow failed almost exactly at .618 retrace, so it's going to be a fake like oil or the C wave down.
Andre Russell 2000 has already closed it's gap up from today as well, and even John can see the higher beta NAS closed that gap as well, so those were not break-away gaps
this is nuts..
Wall Street Bets on Debt That Doesn't Exist http://yhoo.it/ePSbOy
...It is "daft"..
http://news.yahoo.com/s/hsn/20110215/hl_hsn/alcoholdisruptswomenssleepmorethanmensstudy
On the other hand, we ourselves are extremely good for women's sleep.
Doctor J on VIX & What's Trading http://ping.fm/Un23q
Andre Russell 2000
Nice...
Bruce -- the baby is adorable!
4.49% on the 30y ahead of the POMO.
Should be done working off our morning excess...
The I is long.
Thanks for raining on my parade, I !!
Your parade may still be on schedule...
We'll know pretty quicklike if it is.
Mustve been REALLY bad, K...
a jimmy kimmel exercise video/farce.. really really bad..
I dont wanna hear any crying about your parade while crude is getting waterfalled.
Women...
TLT green as LB suggested it might go..
Each day I wake, I think to I-Self...
"Is today the day that the USD, the Dow, and the long bond rally together?"
I have been on this trip for a few months now, and really do not believe the equities can reach a top without it unfolding first.
The L is long.
We have stocks too.
NLY and CIM are liking this environment where the long bond isn't going into hyperspace any more like a man with a tube of hot sauce up his butt. Think of these stocks as VHY bonds.
This is kill time...
How do you want it? How do you feel?
We saw a hot sauce once called Ass In Space.
Descriptive of where the economy will be if BB loses the long end.
Not going to happen.
But the usual suspects will be out this week on even a lukewarm jobs number with the usual Death of Treasuries nonsense....
Thanks for stopping by, Gar
Either side could catch some Sriracha to the eye piece right here...
Record Portion of California Homes Bought With Cash
http://bit.ly/e3ZFlX
There is a cajun restaurant in Chicago called Heaven on 7. Their restaurant decorations consist of hundreds, if not thousands, of different brands of hot sauces, lining the walls from floor to ceiling, with about 10 on each table. They have names like ass in space. Spent all morning supervising the removal of the chocolate milk from the toile chairs. Missed a lot of excitement, and some nice trades. Grrr. Milk came out though, so that's good.
Notice I was careful to say 'PRICES" there and not say INFLATION...
Just bailed on my long... looking for a reentry, depending on the force.
There is a cajun restaurant in Chicago called Heaven on 7.
Know it well, most of the sauces originated in N'Awlinz.
Love the place.
Croatia? Got a link?
Croatia link... gimme a minute... coming up...
I was just thinking about Stephanie last week and here she is:
http://www.businessinsider.com/macromavens-stephanie-pomboy-qe3-is-coming-short-retail-and-get-ready-for-more-mortgage-mayhem-2011-2
"Record Portion of California Homes Bought With Cash"
"Marijuana" Cash, there fixed it....
sorry.. skip the businessinsider.. SP in Barrons:
http://online.barrons.com/article/SB50001424052970204477304576160411426984364.html#articleTabs_panel_article%3D1
The 42-year-old analyst views hard assets
I bet she does. Chortle.....
Croatia...
http://www.youtube.com/watch?v=iVTAVALRGm8
Ironic, the only place you see this stuff in the USA comes from "Russia Today" or "Al Jazeera"
Long again...
"Bring it."
No kidding. This is fucking 1984.
I have been watching BBC America and RT for news, and then only looking at US media to see how they spin it.
EVEN PBS HAS BEEN TAKEN OVER. This is a sign that the virus has spread everywhere. The corruption is so thick that eventually it will burn.
Long again...
Gather Ye Rosebuds, while Ye May.
we will look back on this bull interlude one day with amazement.
you could have made a life's worth of profit if you knew what to do.
in advance...
gristle's
"American life today is a narcissistic cesspool dominated by various forces of infantilization."
needs to be etched..
AAIP
@ Anon
Gotta make hay while the sun shines...
BTW,
Van Halen 1 kicks ass...
"Gotta make hay while the sun shines..."
Tilapia don't eat hay :-)
I
Look at the table in the story, where cash the "highest"?
is this a low volume day or what?! i just checked a variety of tickers and all seem to be close half volume..
"American life today is a narcissistic cesspool dominated by various forces of infantilization."
person can turn a phrase
that's up there with "Tyranny of the Incompetent"
@I-Man
I checked... In 2010, CV used more songs from Van Halen 1 in the posts than from any other album...
is this a low volume day
we hardly ever have that problem....
"American life today is a narcissistic cesspool dominated by various forces of infantilization."
---
I'm pretty sure one could have said that about
- Nero's Rome
- The Court of Louis XVI
or many others...
See how far we've evolved???
@ anon 3:23
What table? I'm behind on the links...
But of course it takes a great man like Obama to make sure that doesn't happen here - ror
http://finance.yahoo.com/q?s=GFS.V
this co. is doing well, and running, at least, avg. vol. ..
AAIP
karen said...
Record Portion of California Homes Bought With Cash
http://bit.ly/e3ZFlX
February 28, 2011 2:46 PM
http://www.bespokeinvest.com/thinkbig/2011/2/28/first-trading-day-of-the-month-another-1-gain.html
from ZH...
"Richard Parsons, chairman of the board of directors of Citigroup, has been named to President Barack Obama's advisory panel on jobs and the economy. The President's Council on Jobs and Competitiveness, to be chaired by General Electric CEO Jeffrey Immelt"
ROR
"will focus on ways to promote growth and hiring in American businesses..."
ROR -
GE finished 2009 with 18,000 fewer US workers than it had at the end of 2008, and US headcount is down 31,000 since Immelt's first full year in 2002. During his tenure, GE workers based in the US as a percentage of total employees has fallen to 44% from 52%
4.48 on the long bond.
2y at 68 bps. No way they buy those tomorrow at 68....
During his tenure, GE workers based in the US as a percentage of total employees has fallen to 44% from 52%
I was trained by NEUTRON JACK.
Parsons used to be at Time Warner-AOR. ROR.
I think this is all DoubleSpeak.
promote growth and hiring -
means
promote downsizing and layoffs!
Once you read Orwell it is easy to understand current events.
I'm behind you.
I mean think of our DoJ. Department of no justice.
Department of Labor..... ROR
We are at the top of a trendline formed from the 1344 top and cutting through each peak on the SPY hourly chart right now. Taking a short position now with a tight stop.
$DJR at new multi-year high..
$bkx lagging today..
@ anon
Ganja mon...
Probably a solid bet that cash sales of toyota 4x4s are up in that region also...
Taking a short position now with a tight stop.
Mu Fu tomorrow.... all that new 401k money.... caution !!
http://dealbook.nytimes.com/2011/02/28/commercial-real-estate-breathes-life-into-a-moribund-market/
Don't worry anon -- I'm well aware of the Mu Fu. Had a nightmare about it last night. Right after the nightmare that the cold my family can't shake is really tuburculosis.
"Mu Fu tomorrow.... all that new 401k money.... caution !!!"
---
I actually saw a chart awhile back that debunked that theory... IOW - it wasn't the "401k" $$ that was having the effect... It was other frontrunning activity that had the larger effect...
I wish I could find that chart...
IYR back at astonishing levels..
Mr Top Step
chatter = cash imbalance $1 Billion to sell side
CV
1st trading day of every month has been up.
Closing out.
Good stuff.
Praise Ye Jah.
@anon
I realize that... And in any case, WHO CARES what the "reason" is...
If it's up it's up...
A Texas League "seeing eye dog" is recorded as a base hit the same way a screaming liner off the wall in Fenway is...
Sellputs comments:
80k contracts on the close $ES_F are you serious?
who in the hell needed 80k S&P's .. that DWARFS volume the past fuckin 12 hours
Fascism is "the bureaucratisation of the economic activities of the nation".
--Benito Mussolini
This is so much more like the 30s than everyone thinks. In what way is China not a fascist society when you look at it carefully?
People are distracted by I-phones and I-Pads and "the myth of american exceptionalism" but really the US is a corporate fascist society right out of the 30s, and they are everywhere, almost across the world, and we are one of the worst.
Berlusconi, Mussolini, what's the difference?
Obama a socialist? One of the biggest jokes of all time.
who in the hell needed 80k S&P's ..
It's the way we roll....
Now that's COLD STEEL.
AlphaEdge Alpha Edge
33% of today's volume came thru in the very last minute or after the close.
33% of today's volume came thru in the very last minute
EFFING hell. Can't say we didn't warn you about tomorrow!
ES has retraced almost all of the gain from the 80950 contracts.
Brilliant..
http://www.zerohedge.com/article/how-ireland-can-leave-euro-one-experts-view
Guys...
Its not like someone bought 80k es contracts at the close.
That dude doesnt know what he's talking about.
Charlie Sheen.. this is hard to watch and how can they air this!
http://www.youtube.com/watch?v=h5aSa4tmVNM
Certainly no nation ever before abandoned to the avarice and jugglings of private individuals to regulate according to their own interests, the quantum of circulating medium for the nation — to inflate, by deluges of paper, the nominal prices of property, and then to buy up that property [cheaply], having first withdrawn the floating medium which might endanger a competition in purchase. Yet this is what has been done, and will be done …– Thomas Jefferson
The guy Karen posted at 4:11 is a bit closer to the mark, but we pretty much do all the volume at the beginning and the end of every day.
Just trying to keep this all in perspective...
I-Man
Don't know if they bought or sold but the volume at 16:00 was 80950 on the ES 1-min charts.
I-Man.. sellputs is this person http://www.Hedgeaccording.ly/
I've been tempted to unfollow but every now and then a tidbit comes thru..
I have found that a lot of people don't know what they are talking about, whether professionals, or in a professional position, or not! He might been exaggerating for emphasis.. you know, sensationalizing : )
No Bond Report today, too boring. Later, all....
They were buyin' 'em bonds, y'all.
Y'all come back now, ya hear?
How about that for a report?
You are correct, Ra.
Approx 80,950 ES contracts exchanged hands in that 1min candle, but I think we traded at 4 or 5 different strikes within that time.
I agree with the dude that it is a lot of volume for 1min, but I felt he was trying to construe it as someone (ahem, PPT...) came in and bought that many at the close.
There is no way to know for certain who was doing what. It could have been someone short a shitload covering, it could have been someone long a shit load, dumping to someone who wanted to cover...
Thats all.
I dont dispute the volume, only the way it is being interpreted by old "SellPuts" up there, who, if was really selling puts, would have nothing to complain about.
Instead, he's going to sensationalize the shit, and get a whole bunch of people worked up and crashing the zerohedge server.
Sorry, not "strikes"... "prices"... LOL.
(Hard to shake the idea of an options chain when you are new to the futes...) :)
I-Man
Need to see it on a tick level or Level 2 to see what's what.
new thread...
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