A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
When it rains, it pours!
Creditcane™: Who put the wrong sign on the street?
SPXBullish long day (failed to confirm bullish thrusting). Midpoint above EMA(10). Held SMA(21). Tested and held the 14.6% retrace (1319.09). No daily 3LB changes (reversal is 1340.43). Closed above daily 3LB mid. QE2infinity. JBTFD?
DXYSpinning top day. Midpoint below EMA(10). Way below the 14.6% retrace (77.54). Below all SMA's. New low on daily 3LB (reversal is 77.06). Needs to contact Safety-Havens-R-US.
VIXBearish long day (confirmed bearish harami). Midpoint below EMA(10). Back below SMA(144). No daily 3LB changes (reversal is 15.81). Still in the "complacent" zone. Currently does not have a monthly 3LB reversal.
GOLDBearish long day (completed evening star). Midpoint above EMA(10). No test of 0.0% retrace. Still above all SMA's. No daily 3LB changes (reversal is 1414.00). Still above upper trend line. Must have the precious.
EURUSDBullish long day. Midpoint above EMA(10). Now above 1.3891 (the 61.8% retrace). Above all SMA's. Held above 1.3782 (fibo .09). New high on daily 3LB (reversal is 1.3741).
JNKBullish long day. Midpoint above EMA(10). Held SMA(21). Back above its 50.0% retrace (40.47). Also still below lower trend line. No daily 3LB changes (reversal is 40.78).
IQIBullish short day. Midpoint above EMA(10). Still above SMA(21). Above its 23.6% retrace (11.68). No daily 3LB changes (reversal is 12.30). Holding above its weekly 3LB mid (11.76).
10YR YIELDBullish long day. No test of 0.0% retrace at 37.44. Back above SMA(21). Midpoint below EMA(10). Now above the 14.6% retrace (35.38). New high on daily 3LB (reversal is 34.14).
CRBBullish short day. Midpoint above EMA(10). Above all SMA's. Made a new 0.0% retrace. New high on daily 3LB (reversal is 352.58).
TLTBearish short day. Midpoint below EMA(10). Failed SMA(21). Above lower trend line. Daily 3LB reversal down (reversal is 92.44). Currently does not have a monthly 3LB reversal (down).
EEMBullish long day (plus it gapped higher). Midpoint above EMA(10). Back above SMA(89). Holding above its 23.6% retrace (46.42). Daily 3LB reversal up (reversal is 44.83).
LEFTBACK'S BOND REPORT
The Bond Report 3.3.11
Today was a risk-on day and even the numbers were eerily similar to yesterday. So, whatever we said yesterday, we say it again, bond bitchez.
Corpies: LQD -0.43%; AGG -0.35%; JNK 0.50%; HYG 0.36%
Govies: TLT -0.98%; IEI -0.56%; TIP -0.27%
Munis: IQI 0.17%; MUB 0.11%
Mortgages: MBB -0.36%
Specialty: ZROZ -1.92%; TBT 1.95%; EMB 0.00%
We remain hedged 15%, long F/I 29%, ahead of tomorrow's NFP just in case there was an absolute screamingly hot number. There won't be. Consensus is 180k, we'll take 145k or thereabouts. Expect yields to come in a bit maybe into the weekend and then rise again into next week's auctions.
50 comments:
Love, love, love the picture of the bear in the cage.
Just looking at charts like Crude oil and Silver...
They're not really exhibiting "peaking" action yet...just congesting near the highs for now.
Got a lot of good laughs this morning with the following CNBC Headlines:
"Oil Falls as Kaddhafi agrees to Venezuelan peace plan."
You can't even make that shit up...
That's like the stuff of a good SNL skit.
Funny stuff, that.
Hate, hate, hate the picture of the baby in the cage.
In other news, Valero lost 350mm on "Hedge Losses"...pretty much destroyed their quarter. Though, they pointed out that the "hedge" was closed out.
Riddle me this Batman: If it was really a "hedge," why did you close it out?
Sounds more like "speculation" to me.
http://www.rttnews.com/Content/EarningsNews.aspx?Id=1566880&SM=1
http://dealbreaker.com/2011/03/michael-moore-this-country-is-not-broke-there-is-still-a-ton-of-cash-trillions-of-dollars-of-it/
Agree that the headlines have beat all this week.. just gimme a few sunspots.. lol
Hey, i may take up the elliot wave thing, tho.. i need something to counter the painted candles.. a bigger picture, in other words..
My personal trading book is cr*p, but if the Bernank wants to reset my home to $8m, and my yet to IPO stock options at $2M, HALLELUJAH! And I will cash out.
That is not my mind set, however.. tho the life change would probably be good for me.
Watching that video.. my opinion.. globalization will win and equalize in the end.. we are one world.. labor won't be cheaper in one country than another in 10-20 years.. we should all be on the same standard.. relative to our hardship of environment and population, imo.. meaning a coke should cost more in less populated areas than it does in cities.. lol..
"the Bernank wants to reset my home to $8m, and my yet to IPO stock options at $2M, HALLELUJAH! And I will cash out..."
---
If THE BERNANK has anything to do with it...
That & a couple of "pre-64 Rosies" (from Andy's grandmas collection ought to get you about a head and a half of Mark's calves at auction...
You know that one of these NFP reports will have to be horrible if the Fed wants to continue QE. Just saying.
What I really am starting to love is the "smell" of my fingers after I finish stacking and sorting:
- Franklin halves
- Walking Liberty Halves
- 32-64 Washinton quarters
- Standing Liberty Quarters
& all Morgans
@Amen (8:25)
Don't make me laugh...
Bad NFP = QE3
Hot NFP = delayed announcement of QE3 (until the number gets bad, or, equities CRASH 30% and THEN NFP gets bad)... Then... QE3
Mama Bear NFP = Wait until next month to FUDGE one or the other depending on the PD "positioning"...
---
If anyone hasn't figured out that it's just QE to infinity by now, they're delusional... It'll happen one way or another... So it's sort of immaterial on whether or not there's a DEFLATIONARY period in between...
The DEFLATION in 2008 lasted 4 months (July - November)... Just look at the gold charts...
rolling my eyes! stock up on wine! vodka! coffee beans! (toilet paper and instead) ammo! OH, AND BOTTLED WATER .. people will come to you with the silver..
@karen
Want a "rolling my eyes" story???
Here's one...
I caught CNBS today for about 30 seconds... Enough for a 20 something analyst to come on talking about his firm's "BUY" rating on Kroger...
Why?
Because... (as he said)... "With the RECOVERY in full swing, people are going to start UPGRADING purchases from ground meat to sirloin... & more EXPENSIVE bottles of wine"...
I kid you not...
He must shop at the Krogers in San Clemente! - ror
@karen
actually - your 8:35 is correct...
You should do it in that order... CV has been on the SILVER & COPPER kick (since last summer if you have been keeping track)... Because I'm good with the wine, vodka, & coffee beans... (started that in 2008)...
Gold was started in 2004... a distant memory at this point...
THE BERNANK is actually my HERO!
CV, that was an eye rolling story. I rarely go into a grocery store.. costco and Trader's suffice. And I do not buy meat.. so.. good luck to the grocers. Will stop at farmers's market on the way home from C's class on sunday in hopes of finding CABBAGE.
Good news now... TOO... is... I have the land & process to:
- make the wine
- moonshine the vodka
- haven't fulfilled the COFFEE yet (but "tea" is fledgeling)...
I'm actually gonna start "cotton" this year (hadn't ever thought I'd have to do THAT before, but THE BERNANK is forcing me to operate at new levels)...
@karen
I'm irritated because the CABBAGE I started 2 weeks ago I'm seeing no green shoots from...
- Peppers
- Tomatoes
- Arugula
- Lettuce
- Carrots
- Potatoes
- Peas
- Beans
...all underway...
Next week go the strawberries...
@karen
The "POINT" of the story wasn't whether the guy bought meat or not...
It was the IDEA that "worthless piece of paper stock - redeemable for FRN's - in a grocery store basing a fictitious profit margin - based on Americans coming to buy packaged meat - at INFLATED PRICES - because of a MSM "fantasy snow job reporting of a RECOVERY" - because of a Hope & Change POTUS"...
Well - Therein LIES the hilarity...
I suppose one either GETS IT or they don't...
@karen
& bottled water??? BOTTLED WATER???
Who the hell needs that???... Just get a piece of land with a well on it, a couple of good pumps & a filtration system...
Bottled water???
Jeez - at this point, it's more valuable for the CONTAINER... You need OIL to make plastic... All those "bottled water" people, in about a decade, are going to be WISHING they didn't toss the empties into a landfill & are going to be thinking about how they could have cut them in half and made PLANTERS out of them...
Chet, I live in a desert.. bottled water to last two weeks is beyond anyone's comprehension.. unfortunately, i have no armed men and guns to protect it..
cv--
to be clear, I wasn't Selling calves at that Auction..
AAIP
cv--,
good point about 'bottled water'..
peep have that one wrong...
way better off with a Filtering System
and/or a heavy duty 'Dutch Oven' to boil it in..
ibid.
cv--,
after two weeks, on the Cabbage, time for a re-set with new seeds, no?
AAIP
@karen (9:08)
YOU LIVE IN A DESERT!!!!!! (Oh! OOOOOOHHh!)...
-ror-
WTSHTF - This is all you need to know about that... :-)
http://www.youtube.com/watch?v=VKNoJ2BzSRU
...but your INSURANCE POLICY is that I adore you... & I WILL be around 4u in the eventual time of need :-)...
http://ricoforsheriff.com/irs-liens-and-levys
sad, but true..
ibid.
@AAIP (9:13)
TOTALLY time for a reset... That's not right...
But I DO USE "Farmers Almanac" timeschedules for planting guides... So I gotta wait a couple days...
No problem... I got a QUART MASON JAR full of seeds (as with about every other seed on the planet)... Basically - gotta nuf 2 thro around if I want - not that I do)...
I swear - SERIOUSLY - when I hold a plant seed in my hand - I "feel" more precious in that than a FRN... I'm TOTALLY SERIOUS...
@AAIP (9:08)
I didn't suppose you were selling calves at auction... So if it 'seemed' that way, it was a mistake...
I took it as a SPECTATOR role... (which - BTW - was very informative & I appreciated the input)...
I'm really looking to add about 3-5 more acres at the moment (so this is particularly interesting to me now)...
Take a guess what those "3-5" will be for???
MILK BITCHEZ!
Oh... & that "Mason Jar" description above meant:
A QUART FULL OF SEEDS FOR EACH INDIVIDUAL SPECIES...
Between SAM KINISON (video link above)... & TYLER DURDEN (Zero Hedge)... I don't know who is 'funnier'...
TD/ZH
"All you need to know about how the market reacts to Non-Farm Payroll day in one convenient cheat sheet. Despite a gross cumulative surprise of 3,480,000 (jobs below expectations), and an average surprise of -27,000, coupled with a negative bias (0.53% negative surprise, 0.33% positive surprise), the market tends to have a bullish average return on payroll days of 0.14% (0.07% median) compared to 0.03% average on all other days.
In other words, even if there is a miss tomorrow, which is highly unlikely, expect the market to "internalize" the news and come up with some completely idiotic explanation which excuses yet another stock ramp, which will only be avoided if nuclear war breaks out (and even then it is a toss up)...
FYI -
Utah [think MORMON - whose faith advocates having at least a years supply of food]... is already beginning to create legislation to accept gold and silver as legal tender...
They're only one state away from THE COMSTOCK LODE... So their chances of buying bottled water ought to be pretty good! :-)
BTW peeps...
"MCF" has has (& still has) some BIDNESS to attend to for the next several days...
He'll be around shortly! :-)
Oh... & if you happen to be imbibing "spirits" while reading my (9:42), & think of it as just another CV, laugh, laugh, "nickles bitchez" outpouring (how quaint)...
This...
"And once Utah proves a successful test bed of this near-revolutionary refutation of the Chairman's ideology, everyone else will follow:
Twelve other states have offered similar proposals:"
Georgia, Montana, Missouri, Colorado, Indiana, Iowa, New Hampshire, South Carolina, Tennessee, Washington, Vermont and Oklahoma
Whatever...
I now return you to your ORIGAMI & PAPER AIRPLANE FOLDING EXPERIMENTS...
This is interesting: http://www.nj.com/news/index.ssf/2011/03/monmouth_county_inventor_says.html
A 2 inch cube to replace cell towers.
@Amen
GREAT!
Yet ANOTHER reason to be more enamored with your "Twitter" capabilities than growing an acre of food...
FOOD - You Can't 'eat' it... It's just a barbaric RELIC!
As stated by CV earlier today...
BLUE JEANS BITCHEZ!
http://finviz.com/futures_charts.ashx?t=CT
cv--
you might need to lay this:
FOOD - You Can't 'eat' it... It's just a barbaric RELIC!
over at TBP..
also, re: Calves, no probs, just clarifying..
but, yes, was, just, Spectatin' -- was wishing I had had a Trailer, at the ready, tho..
AAIP
@AAIP
At the prices you were saying... I'da been WISHIN too...
...as 4 TBP... CV hasn't "laid" anything there for about 2 years going...
BR isn't kind to CV's "Grey Poupon" references... (as he e-mailed me to express)...
http://www.youtube.com/watch?v=5xomArI4aJ0
Eh beh! (an Italian expression)... His loss :-)
I wonder if Blythe reestablished the silver short positions since it still is over $34.
Good call on the vodka, Karen! When TSHTF I anticipate a prodigious demand for booze and cigarettes...basic luxuries in a world of beans and rice. Last time I checked, a handle of Smirnoff was still $16 at costco. Three glasses of that and EVERYthing is silver.
Alas, if I were to start stockpiling Smirnoff, I would contract cirrhosis at the precise moment that Beelzeben runs out of bullets. He can remain evil longer than I can remain besotted with drink. Such is life.
gristle@12.01
I don't think you can underestimate the demand for the clear alcoholic fluid (vodka) in times of duress/strain.
It would be a medium of exchange.
Perhaps it would be better to just load up on cases and cases of that...
"comparative advantage" at play in a live setting...
Two other virtues: It never spoils, and Smirnoff is as good as vodka gets, madison ave and justin timberlake notwithstanding.
@Andy/gristle
TRUE... with a wrinkle...
CV figured that out about 5 years ago (and has since accumulated a decent sized stockpile - which initiated as PERSONAL consumption - then graduated to "tribe consumption" - then graduated to BARTER consumption [assuming MANY tribal needs])...
However - I'm here to inform you that the process doesn't stop there (& I'm talking about the 3rd generation variable - stocked out to 3 years supply)...
I've "settled" on a 3 year window, because, in my TIN FOIL HAT existence, I've figured out that, one would need that much of a HEAD START, if & when TSHTF, one would need to be able to re-produce "mass quantities" (vis-a-vis CONEHEADS) sustainable for the same tribes...
Chess is ALWAYS played 7 moves ahead...
Just saying :-)
@Andy
BTW...
Today... CV "added a DOUBLE" t0o the qty of your treasure trove findings of a week ago...
ADDING "PHYSICAL" AT THE TOP???
Perhaps (which I will or will not lament)... But it's getting to be FEVER now... & I certainly don't want to waste my time buying or shorting stocks...
Anybody ever seen what the 100 oz INGOTS feel like in your hands?
Friggin WEAPONS bitchez! :-) You could knock about a half dozen people out cold with these things before they knew what hit 'em!
cv--
re: Ingots, yes, it's amazing how dense they are, not really big--fit well in hand..
and, Stout..as you were saying, ~"they'll pack a Wallop.."
~~
also, re: distilled Spirits, for Trade..
wouldn't 375ml be the best Size?
added "portability"/smaller 'denomination'??
though, they do trade at a significant premium to 750ml, and, especially, 1.75l sizes..
AAIP
be able to re-produce "mass quantities"
cv--,
you stocking up on 'parts'?
copper tubing, kettle(s), sugar, grains, (grain) cracker/grinder, et al., etc. ?
ibid.
one for Fixxy, and his DF trade..
BROOMFIELD, COLO. — White Wave Foods, a subsidiary of Dean Foods Co., has expanded its Silk line of products with the introduction of Silk Pure Coconut coconut milk, which contains no dairy, no lactose and no cholesterol.
“Consumers continue to seek plant-based beverages,” said Craig Shiesley, vice-president of Silk. “At the same time, they are becoming more interested in coconut-based products, so we brought those two trends together. Silk Pure Coconut gives consumers another plant-based option for milk that offers great taste combined with the calcium they're looking for.”
Silk Pure Coconut is contains 50% more calcium than dairy milk, according to WhiteWave. Additionally, it is an excellent source of vitamin D and vitamin B12.
The coconut milk is available in two flavors: Original and Vanilla, with 80 and 90 calories per serving, respectively.
http://www.foodbusinessnews.net/News/News%20Home/Beverage%20News/2011/3/WhiteWave%20adds%20Silk%20Pure%20Coconut%20coconut%20milk.aspx?NewsLetter=true
AAIP
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