A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: Whiplash trading. My new way of affecting markets.
SPXDoji day. Midpoint above EMA(10). Failed SMA(21). Tested and held the 14.6% retrace (1319.09). No daily 3LB changes (reversal is 1340.43). Closed below daily 3LB mid. QE2infinity. "JBTFD" attributed to PT Barnum.
DXYSpinning top day. Midpoint below EMA(10). Way below the 14.6% retrace (77.54). Below all SMA's. No daily 3LB changes (reversal is 76.89).
VIXSpinning top day. Midpoint above EMA(10). Held above SMA(144). No daily 3LB changes (reversal is 15.81). Back in the "complacent" zone. Currently does not have a monthly 3LB reversal.
GOLDDoji day. 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.
EURUSDDoji day. Midpoint above EMA(10). Back below 1.3891 (the 61.8% retrace). Above all SMA's. Holding above 1.3782 (fibo .09). No daily 3LB changes (reversal is 1.3784).
JNKBearish long day. Midpoint below EMA(10). Failed SMA(21). Failed its 50.0% retrace (40.47). Still below lower trend line. No daily 3LB changes (reversal is 40.78).
IQIBullish short day. Midpoint above EMA(10). Back below all SMA's. Still above its 23.6% retrace (11.68). No daily 3LB changes (reversal is 12.30). Closed above its weekly 3LB mid (11.76).
10YR YIELDBearish long day. No test of 0.0% retrace at 37.44. Still below SMA(21). Midpoint above EMA(10). Back below the 14.6% retrace (35.38). No daily 3LB changes (reversal is 34.14).
WTIBearish short day. Still above all SMA's. Midpoint above EMA(10). No test 0.0% retrace. No daily 3LB changes (reversal is 99.63). Not really showing any weakness…yet.
SILVERSpinning top day. Still above all SMA's. Midpoint above EMA(10). No test 0.0% retrace. Well above upper trend line. New high on daily 3LB (reversal is 34.84).
EEMSpinning top day. Midpoint above EMA(10). Holding above SMA(89). Holding above its 23.6% retrace (46.42). New high on daily 3LB (reversal is 45.08).
32 comments:
"...The Ticker is nearly four years old at this point. Technically there is another month or so to go, but it's close enough. I began writing as a consequence of detecting in our financial system the same scams and schemes that caused the detonation of the technology space seven years prior. I was early sounding the call, but not by much - only about a year.
You would think that these same mistakes made in the 1990s, and then again with the housing bubble, would sink in. You would expect that laws would change. You would expect that the people would grasp that all of the scams, schemes and devices that had failed not once but twice would finally be pushed off the stage.
If you believed that would happen you now must admit that you were wrong..."
http://market-ticker.org/akcs-www?post=181903
AAIP
"Two days ago we pointed out the dramatic change in the ratio of copper to gold, which moved at the highest rate of change since June of 2010. Today, the rate of change is even higher at 4.3%. And with copper starting to seriously take on water, a curious observation emerges: is the gold-copper ratio, which on an inverted basis was virtually a tick for tick correlation conjugate for the S&P, now simply a harbinger of where the stock market is headed. All else equal, once the Chinese exuberance dynamics which appear to have stalled out in copper, move to equities (which as Finisair demonstrated yesterday is only a matter of time) we believe, as the attached chart shows, that the fair value of the stock market is about 120 points lower. Since this is a relative comparison, those who do not wish to trade a single series, can put on a pair trade of short the Gold/Copper ratio (predicting it will decline from the current 3.4 - it is shown inverted on the chart below) and short the S&P in expectation of a compression..."
http://www.zerohedge.com/article/if-goldcopper-ratio-truly-harbinger-market-weakness-here-are-some-pair-trade-ideas
ibid.
ES, YM, NQ all lower but AUDJPY & EURJPY are higher. WTI has resumed its push higher. All this means nothing until I see where they are in the morning.
"G.O.P. Tactic Ends Stalemate in Wisconsin Union Fight . .. Republicans voted to strip collective bargaining rights from public workers after discovering a way to bypass the chamber’s missing Democrats."
it appears they stripped away the bargaining rights issue (and voted on that alone) as it "does not spend money" and therefore requires no quorum-
silly, silly Senators. . .running away and all for naught- I wonder if they will bother to go back to Wisconsin and do the jobs they were paid to do?
ahab
The public workers won't need collective bargaining to vote them out at the next election.
Ra-
true . . .but I am not at all too sure that the majority of people in Wisconsin give a shit about the government unions (does that even make sense?)-
I'll use Reagan surviving firing all of PATCO as a precedent
check out this chart- wow!
http://finance.yahoo.com/echarts?s=^GSPC+Interactive#symbol=%5EGSPC;range=1d
chop fest?
@ben22
From the last thread...
OK - I think I probably EXPRESSED my thoughts on "conference tournament winners" incorrectly...
So it was not your fault of interpreting it incorrectly, it was my fault for not expressing it clearly...
---
I STILL have a set of "criteria" that I use to determine teams who will RUN DEEP into NCAA Tournament play...
One of the criteria has to do with "conference tournament champions"...
The bottom line is that it's NOT ALL IT'S CRACKED UP TO BE (and often becomes a hinderance)... It's burdensome & frankly distracting (though entertaining)... In many ways - it DEPENDS on what the goal of the program is... Oftentimes - winning the "conference tourney" is all a school really has any hope of accomplishing so they put their effort there, (which gets them to the dance - and then they get obliterated)...
In any case, I have about a DOZEN criteria, and the NCAA Champions you listed MET most of the other criteria (which means that the CTC criteria was just a sideshow)...
Here is ANOTHER of my criteria:
Seventeen of the past 18 teams that have won the NCAA Tournament have shared these traits:
- Had a head coach who was with the team the year before.
- Scored 76 points per game.
- Out-scored their opponents by an average of at least 10 points.
- Had been seeded 1-4.
- Participated in the NCAA Tournament the year before.
All the teams you mentioned met that criteria (which held a greater overall weighting)...
And then, of course, there are always anomalies...
One of my criteria is:
"When in doubt, Bet AGAINST freshman point guards"...
Umm... kinda WORKED last year (Why didn't #1 Kentucky [who was also SEC Champion] even make it to the Final 4?)... Kansas also didn't make it to the Final 4... #1 seed & conference champions...
So as I said... I put about a dozen things into a blender... The one I mentioned EARLIER was just ONE of them...
Sorry for NOT having made that clear...
---
And consider THIS stat... Almost HALF the teams in NCAA Tournament at large are going, IN FACT, to be tournament conference champions (because that's how they get their bid in the first place)...
It's a sword that cuts BOTH directions...
a) It means they WON THE LOTTERY (like Leonardo Di Caprio in the poker game that he won the ticket to ride on the TITANIC)... = probably EARLY goodbye...
b) But it ALSO means that given the fact that HALF the teams in the NCAA are conference champions... It's a 50-50 shot...
So "look" at stats and decide whether you want to make a hat, a brooch, or a teradactyl out of them...
Ahab, we lived that today.. no worries.. hey, i read some of your posts at TBP, laughing, why do you bother to engage that person? I posted a Sports Illustrated clip for you the other day.. not sure if you watched it.
Thank you, AR.. haven't even checked futures yet.. the people in my exercise class don't even know the market exists, let alone futures.. and they aren't even talking about the price of fuel!
zerohedge zerohedge
No POMO tomorrow. New schedule released at 2 pm
karen-
appears I am always a step behind . . should have perused the last post-
re the SI clip- missed it- but you can always repost :-) if so inclined
NicTrades Nicola
US Crude 240min chart - Bullflag? http://stock.ly/16rdf8
nope, ahab, but she was gorgeous.. a ten.
@karen
"the people in my exercise class don't even know the market exists, let alone futures.. and they aren't even talking about the price of fuel!"
welcome to the club!
I 'mistakenly' tried to bring the subject to some (pretty smart - otherwise) people today before class...
Bottom line response... "Well what do you expect ME to do about it"... They don't care! They're not interested! They just suppose that Lugvig von Bernankenstein will SOLVE everything (it must have something to do with that 'love affair' with PhD's)...
What part of 'needing to roll over $17 trillion in debt with only $12 trillion in income, (hopefully), by 2014 don't people understand?
When the "austerity tea partiers" can BARELY cut $61 billion from the budget (and that just represents CUTTING TO THE BONE... Forget any unfunded "no fly zones" over Libya or wherever else that would COST $1 billion a month...
Oh, but now... QE2 is going to END... Right??? No more of this BS of "monetization"...
So I guess we just DEFAULT right... Well THAT ought to put a lot of confidence into the dollar...
So they do a QE3 right??? Sure! Let's take crude prices to $200... or more!
They were asking me if at $8 a gallon I'd be buying a Prius!!!!!!!!!!!
YGBFKM!!!
I said... "Honey - long before we'd ever hit $8 a gallon, ALL commerce in the US would likely come to a grinding halt...
At $8 a gallon, you're WORRIES aren't your fuel miles, your WORRIES are whether or not FOOD makes it to the store shelves...
$8 a gallon??? You're not shopping for a PRIUS, you're WRANGLING horses...
"Feel the burn"!
CV,
just got home man..looong day.
I see what you are saying, don't get me wrong, if say.....Niagra wins their conference tourney, I'm not picking them for the final four. Just wouldn't want to fade a solid team that wins the conf. tourney.
OSU is really tough this year, so I like your thinking there, should be a really exciting tournament this year, thought last years was sort of lame so I'm looking forward to it.
I heard on the radio on the way home that the republicans somehow squashed the collective bargaining in Wisconsin, not sure I understand it all, but it was all over the radio.
my bad, I see ahab already posted that.
Karen-
you're cruel
futures = ugly!
@ben22
As with Oscars & other things... I'm FORMULAIC with respect to my NCAA handicapping...
My math THUS FAR is that it's going to to "chalk" this year (vs. last year where I actually had BUTLER going deep into the tourney)...
OSU really stands out thus far...
CV,
that's an observation about fr. pg's I'd agree with in general, but sometimes if you have a special point guard with some solid vets you can pick them to go deep, like Memphis with D. Rose. Kentucky didn't really have that, but I'm still surprised they got booted as early as they did. Mike Conley and Greg Oden did it in 2007 without any real senior leadership, then they both vanished.
I like the conf. tournaments to watch teams that are going to be a 3-4 seed in the dance, how they are playing in that game, I like teams with momentum going into the tournament, the big east tourney will provide you with information this year as will several other conferences. I like to also see how star players on certain teams are playing from the weaker conferences going into the dance, like Matt Howard from Butler, as an example.
Ahab, taking pity on you:
Time Warner Inc.’s Sports Illustrated magazine is changing it's subscription model, and is betting on the popularity of its swimsuit issue to aid new business. Bloomberg's Michele Steele reports. (Source: Bloomberg)
http://www.bloomberg.com/video/66709202/
I know, what is up with futures?? I can hardly believe my eyes.. it'll all be over by morning and up, up, and away I'm sure.. LOL.
CV.. loved your story and agree with you on the $8 gallon...
"big east tourney will provide you with information this year"
---
Rutgers got HOSED (by the officials) vs. St. Johns today...
Bloomberg tickers on tv are showing higher prices for YM, EZ and NQ. Why are they hiding the truth of the carnage from their viewers?
Here is Bruce's favorite word popping up unexpectedly:
BloombergNow
Australian Employers Unexpectedly Cut Workers in February http://bloom.bg/dMLR6E
thanks for the link Karen-
I knew you would show pity on me :-)
have a good evening
Part of the confusion may be the contract roll tomorrow, there is a 70 pt premium on the March contract compared to the Junes which start trading tomorrow.
I have the March YM at 12113, down 61 pts from where they opened earlier.
The June YM is at 12053, down 57 pts from where they opened.
ES March at 1307 half, down 8 sticks.
ES June at 1302 half, down 8 sticks as well.
I-Man
Thanks. My data feed has already switched to June.
I hate it when this happens, because I have to redraw a lot of my charts...
I-Man
Don't remind me.
If this move can last to the open...
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